Daily Archives: July 27, 2022, 9:15 am

ESG should be boiled down to one simple measure: emissions | The Economist

Unfortunately esg suffers from three fundamental problems. First, because it lumps together a dizzying array of objectives, it provides no coherent guide for investors and firms to make the trade-offs that are inevitable in any society. Elon Musk of Tesla is a corporate-governance nightmare, but by popularising electric cars he is helping tackle climate change. Closing down a coalmining firm…

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Tether’s recovery of an $840mn loan scrutinised in Celsius bankruptcy | Financial Times

Tether, whose $66bn stablecoin known as USDT plays a key role in crypto markets, recouped an $840mn loan to Celsius ahead of the bankruptcy by selling bitcoin Celsius pledged as collateral. The question now is whether Celsius could reclaim the value Tether received in the loan liquidation. The answer would clarify an uncertain area of bankruptcy law and in the…

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Kraken, a U.S. Crypto Exchange, Is Suspected of Violating Sanctions – The New York Times

Kraken, one of the world’s largest cryptocurrency exchanges, is under federal investigation, suspected of violating U.S. sanctions by allowing users in Iran and elsewhere to buy and sell digital tokens, according to five people affiliated with the company or with knowledge of the inquiry. The Treasury Department’s Office of Foreign Assets Control has been investigating Kraken since 2019 and is…

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SEC Denies Whistleblower Award Claim Because Disclosure was Not Voluntary

Under the SEC Whistleblower Program rules, a whistleblower’s disclosure is voluntary if it is made “before a request, inquiry, or demand that relates to the subject matter of [their] submission is directed to [the whistleblower] or anyone representing [the whistleblower] by the Commission.” In this case, the SEC issued a Preliminary Determination denying a whistleblower award claim because the Claimant…

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Celsius customers write pleas to bankruptcy court to get crypto back: ‘This is an emergency situation, simply to keep a roof over my family and food on their table.’ – MarketWatch

Some customers of crypto lender Celsius Network, which filed for bankruptcy earlier this month, have written to the Bankruptcy Court for the Southern District of New York, with a hope of getting their funds back. *** In letters to the bankruptcy court, many Celsius customers said they felt lied to by the company and by Alex Mashinsky, its chief executive.…

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What reports of the SEC investigation of Coinbase have missed | John Reed Stark on LinkedIn

What reports of the SEC investigation of Coinbase have missed is the unique nature of the SEC’s jurisdiction. The SEC probe of Coinbase is likely vast and infinite in an unusual way. First off, the SEC is looking for fraud, market manipulation, insider trading, registration failures and other securities violations relating to Coinbase’s crypto-trading platform operations. But there is also…

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