Daily Archives: August 18, 2022, 2:07 pm

Nearly Half of SPACs Are Likely to Liquidate If SEC Rules Are Adopted | Institutional Investor

The Securities and Exchange Commission’s proposed new rules on special purpose acquisition companies could force almost half of the SPACs that are still searching for a merger partner into liquidation, according to a new report from SPAC Insider. Those SPACs account for $80.6 billion in capital that is now held in trust, but which would be returned to investors. Under…

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Crypto Ads Starring Matt Damon, Tom Brady Vanish From Television – Bloomberg

Matt Damon’s pitch to invest in crypto has disappeared from US television sets. Same goes for glitzy commercials starring LeBron James and Tom Brady. The drop in national TV marketing by the industry in the US has coincided with the selloff in Bitcoin and other crypto assets, according to the TV-ad measurement company ISpot.tv Inc., which tracks the spots. Damon’s commercial…

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Joe Weisenthal on Tornado Cash: Five Things You Need to Know to Start Your Day – Bloomberg

Take away the uncensorability of crypto, and all you’re left with is Ponzi schemes, dog coins, and drawings of monkeys. (Wait! That’s basically all that exists right now in the space, so ignore that thought.) Anyway, by sanctioning a piece of software and some addresses associated with it, it may show that uncensorability is just a lie. Sure maybe the…

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SEC Brings Insider Trading Charges Against Family Member of Silicon Valley Executive

The SEC’s complaint alleges that Daniel of South Miami, Florida misappropriated material nonpublic information regarding the acquisition during a telephone call with his mother that occurred while his mother was at the home of Daniel’s close relative, a senior employee at Cypress. Daniel, the SEC alleges, learned during this phone call that his family member was working on urgent issues…

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They Lost Crypto in the Crash. They’re Trying to Get It Back. – The New York Times

About 58,000 customers held cryptocurrencies in the company’s custody accounts. The lawyer whom Mr. Little’s group hired, Kyle Ortiz, plans to argue that those funds — worth $180 million — remain the customers’ property under the terms of service. For Celsius’s interest-bearing accounts, that would be a difficult case to make, legal experts said. But custody holders have a better…

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