Binance, the world’s largest crypto exchange, was criminally charged with breaking sanctions and money-transmitting laws and agreed to pay $4.3 billion to settle case. Founder Changpeng “CZ” Zhao pled guilty to charges he personally faced and agreed to pay a $50 million fine. CZ is resigning as CEO. Richard Teng, a former Abu Dhabi regulator …
The cryptocurrency industry is pushing for a more equitable future of decentralized financial technology that can empower everyone equally. Its supporters are ardent backers of this cause and new headlines pop up almost every day highlighting how governments, enterprises and institutional investors are expressing their interest in the technology. At the same time, new businesses …
Federal Reserve reports that mean net worth of the average American household, even adjusting for inflation, was $1.06 million last year. Compared with 2019, that figure was up 23%. IF inflation is at the level of the last three years then the median White family will be millionaires within 20 years. House and stock appreciation …
2023 has been a relatively good year for the benchmark S&P 500 and growth stock-fueled Nasdaq Composite. The S&P 500 is widely viewed as the best benchmark of Wall Street’s health. It’s a market cap-weighted index comprised of 500 generally profitable, time-tested companies, a few of which have multiple classes of shares. All told, the …
US inflation has increased about 18.6% overall and over 20% for food from 2020-2023 (3 years) and this is about the same overall inflation that happened from 2010 to 2020 (10 years). This is the official data provided in an inflation calculator at officialdata.org. The Bureau of Labor Statistics, St Louis Federal Reserve and other …
Being the World currency is similar to like have the Iron Throne in Game of Thrones. The holder of the Iron Throne in Game of Thrones has won critical battles and has powerful Bannermen and allies/friends. The final loss of the crown comes at the end of a long and obvious erosion of trust and …
Sam Bankman-Fried, who was arrested on fraud charges last year after the collapse of his cryptocurrency firm, must await trial behind bars, a US judge has ordered. The 31-year-old was handcuffed in court and led away. Judge Lewis Kaplan had agreed with prosecutors who had accused Mr Bankman-Fried of trying to intimidate witnesses expected to …
The SEC told Coinbase “you need to delist every asset other than bitcoin. We believe every asset other than bitcoin is a security. JUST IN – The SEC told Coinbase “you need to delist every asset other than bitcoin.” “We believe every asset other than #bitcoin is a security.” pic.twitter.com/wlG6J6qew1 — Bitcoin Magazine (@BitcoinMagazine) July …
Glass Lewis and ISS (Institutional Shareholder Services) have 97% market share of the Proxy service market and conflicts of interest. ISS is majority owned by Deutsche Börse Group and along with ISS management, is a leading provider of corporate governance and responsible investment solutions, market intelligence, fund services, and events and editorial content for institutional …
3 of America’s 4 largest bank failures have occurred in the past two months. This has cost FDIC’s deposit insurance fund ~$35 billion. The fund started the year with about $125 billion. $20 billion for Silicon Valley (mainly bailing out uninsured depositors) $2.5 billion for Signature $13 billion for First Republic By many measures, this …
