Daily Archives: September 26, 2022, 9:12 am

Crypto Darling Helium Promised A ‘People’s Network.’ Instead, Its Executives Got Rich.

Davis is one of thousands of people who bought into Helium’s promise, together spending an approximate $500 million on hotspots they believed would pay steady dividends. But so far, citizens of the People’s Network have seen vanishingly small crypto rewards. After waiting more than six months for her $500 hotspot to arrive at her home in Houston, Davis has mined…

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1 BTC = 1 BTC: Crypto Looks for New Narrative as Plunge Goes On – Bloomberg

Virtual money, digital gold, inflation hedge, uncorrelated asset, store of value: those are phrases once used by Bitcoin’s fans to describe the cryptocurrency’s virtues. Its new narrative? A Bitcoin is a Bitcoin. That’s the expression that’s making its rounds on Twitter in recent days, where users, amid a deep decline in prices, have been posting that 1 BTC = 1…

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California ‘BitLicense’ Bill Vetoed by Governor Gavin Newsom

California Governor Gavin Newsom (D) vetoed a crypto licensing and regulation bill seen as a possible West Coast version of New York’s “BitLicense” on Friday. Assembly Bill 2269, sponsored by Assemblymember Tim Grayson (D), would have created a licensing regime for anyone hoping to facilitate crypto transactions, likening it to how money transmissions are currently overseen by the Money Transmission…

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SEC Charges Executives and Director with Lying to Auditors

According to the SEC’s complaint, filed in the United States District Court for the District of Nevada, Thompson, Loveless, and Mylock provided Spyr’s auditors with false and misleading information about an SEC investigation into Spyr’s investment in a biotechnology company. The SEC alleges that the defendants told Spyr’s auditors that they were not aware of “any situations where the company…

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US SEC Ramps Up Scrutiny of Private Equity Firms’ Writedowns – Bloomberg

Buyout firms have been forced to erase billions of dollars from the value of their wagers in the economic downturn, and financial regulators are now scrutinizing whether managers are reducing fees for investors when those deals sour. The Securities and Exchange Commission has been ramping up inquiries to private equity firms about whether they adjust customer fees when bets get…

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Companies That Really Want to Do Some Good Should Unbundle ‘ESG’ and ‘DEI’ – Bloomberg

Both ESG and DEI have generated massive industries. Investment giants, notably BlackRock Inc., State Street Corp. and Vanguard Group Inc., claim that more than a third of their assets, or $35 trillion, are monitored through one ESG lens or other. Every Fortune 100 company and most Fortune 500 companies have adopted DEI programs. Walmart has committed $100 million to its…

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Interpol Issues ‘Red Notice’ for South Korean Crypto Founder Do Kwon – The New York Times

Interpol has issued a “red notice” for the search and arrest of Do Kwon, the South Korean co-founder of Terraform Labs, the Seoul Southern District Prosecutors’ Office said on Monday. The South Korean authorities had requested assistance from the global police agency to trace Mr. Kwon’s whereabouts earlier this month. Mr. Kwon and his company faced investigations by the South…

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Kraken Has No Plan to Delist Tokens Labeled as Securities by the SEC – Incoming CEO | Blockchain News

In July, the SEC started scrutinizing Coinbase for listing several tokens on its platform the regulator identified as securities. As a result, crypto exchanges like Binance delisted some of the tokens that the watchdog recognized as a security in the recent Coinbase insider trading case. But Ripley has said Kraken has no plans to remove those tokens from its exchange.…

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