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‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInBlackRock Teams Up With Coinbase in Crypto Market Expansion – Bloomberg
BlackRock Inc. is partnering with Coinbase Global Inc. to make it easier for institutional investors to manage and trade Bitcoin, taking the world’s largest asset manager into a cryptocurrency market hammered by plunging prices and government investigations. *** Top BlackRock clients will be able to use its Aladdin investment-management system to oversee their exposure to […]
Coinbase Asks Supreme Court to Halt Account-Holder Suits – Bloomberg
Coinbase Global Inc. asked the US Supreme Court to halt two lawsuits by users of the cryptocurrency exchange platform while the company presses appeals that seek to send the cases to arbitration. In one case, a man says Coinbase should compensate him for $31,000 he lost after he gave remote access to his account to […]
A Focus on Victims’ Rights Leads to Investor Payouts in Credit Suisse Case – WSJ
For two decades, federal prosecutors have aggressively prosecuted companies and executives that pay bribes to win business overseas, most often through use of the Foreign Corrupt Practices Act, an antibribery law passed in 1977. But rarely have they sought to identify specific victims of corruption. That’s starting to change. After a surprise appearance by aggrieved […]
Michael Saylor Bet Billions on Bitcoin and Lost – WSJ
If you ask Michael Saylor why he bet the future of his company on bitcoin, he’ll tell you he didn’t have a choice. In 2020, MicroStrategy Inc.’s stock was stagnant, and the tech company struggled to compete with software giants. “We were either going to die a fast death, or a slow death, or embark […]
After the crypto crash comes the SEC crackdown – Vox
But as investors’ losses mount and enforcers’ expanded crypto arms get to work, it looks like a day of reckoning is finally coming for some of these companies, which have been operating in a space with few rules. The outright scams, obviously, weren’t following the rules at all. But some of the more legitimate companies, […]
SPAC market hits a wall as issuance dries up and valuation bubble bursts
The SPAC boom is officially a thing of the past. Not a single special purpose acquisition company was issued in July as the market slowdown turned into a screeching halt, according to CNBC calculations of SPAC Research data. Sponsors who once took advantage of a hot market were forced to pause as investor interest waned and […]
Virginia pension fund invests in crypto lending in bid to boost returns | Financial Times
A $6.8bn Virginia pension fund is looking to boost its returns by investing in crypto lending markets despite a crisis in the sector that has pushed several companies into bankruptcy and left retail investors with heavy losses. The Fairfax County Retirement Systems recently gained approval from its board of trustees to begin investing in “yield […]
No Investor Should Be Buying Single-Stock ETFs – Bloomberg
Issuers of exchange-traded funds plan to roll out a wave of single-stock ETFs. These funds, a handful of which are already available, will bet against individual stocks or amplify their daily moves or both. Needless to say, single-stock ETFs have not been greeted with enthusiasm. Regulators are sounding alarms about their risks. Financial advisers are warning […]