Daily Archives: March 11, 2023, 11:20 am

Former Theranos exec Sunny Balwani loses bid to remain out of prison during appeals

A federal judge has rejected former Theranos executive Ramesh “Sunny” Balwani’s bid to remain free while he appeals his conviction for crimes he committed during a blood-testing scam he orchestrated with his former boss and lover, Elizabeth Holmes. The 17-page ruling issued late Thursday pushes Balwani, 57, a step closer to having to begin a nearly 13-year prison sentence he…

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SEC Asks High Court to Address Agency Judges’ Constitutionality

The Fifth Circuit ruled incorrectly in finding the SEC’s use of executive-branch judges unconstitutional, the agency said in a petition asking the US Supreme Court for review. At issue is a challenge by investment adviser George Jarkesy to the Securities and Exchange Commission’s determination that he couldn’t participate in certain securities activities and had to pay civil penalties. A divided…

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Circle’s USDC Stablecoin Breaks Peg With $3.3 Billion Stuck at Silicon Valley Bank – WSJ

A major cryptocurrency operated by Circle Internet Financial Ltd. meant to mimic the value of the U.S. dollar dropped sharply after the company said it had $3.3 billion tied up in the collapsed Silicon Valley Bank. USD Coin fell below 87 cents on Saturday morning, according to data from CoinDesk. The virtual currency, known as a stablecoin, is designed to…

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