The world perhaps didn’t anticipate yet another demonstration of the unpredictability of cryptocurrency, but it was presented with one on Monday. In a matter of minutes, the price of bitcoin surged by around 10% to nearly $30,000, all due to a fake news report, as reported by Insider. However, the gains were quickly lost when …
The Chairman of the Securities and Exchange Commission (SEC) has issued a stark warning, stating that without further regulation, the increasing influence of artificial intelligence (AI) could lead to an inevitable financial crisis within the next decade. In an interview with the Financial Times, SEC Chairman Gary Gensler acknowledged the immense challenge of addressing the …
In a surprising turn of events, the shell company that was set to merge with former President Trump’s media company has lost $467 million in funding. Digital World Acquisition Corp. announced this setback in a regulatory filing on Thursday. CEO Eric Swider confirmed that the remaining $533 million would be returned to investors, effectively …
In a surprising turn of events, Elon Musk has called for a much-needed overhaul of the Securities and Exchange Commission (SEC). Coincidentally, the SEC has filed a lawsuit against him the same day, seeking to compel him to testify about his acquisition of Twitter, now known as X. Musk took to X to express his …
Billionaire entrepreneur Elon Musk is currently facing investigation by the Securities and Exchange Commission (SEC) regarding his acquisition of social media giant Twitter, which was valued at $44 billion. A court filing on Thursday revealed that the SEC is seeking to compel Musk to testify in relation to potential violations of federal securities laws concerning …
An ex-Goldman Sachs analyst from Long Island, who is now facing federal charges for insider trading after allegedly sharing confidential information with childhood friends, previously won a $1,000 prize at an ethics competition during his college years. Anthony Viggiano, a resident of Baldwin, Nassau County, and three classmates from the University of Tampa were awarded …
Regulators on Friday fined eight companies a combined $111 million over record-keeping lapses, marking the latest enforcement actions in the Securities and Exchange Commission’s (SEC) ongoing crackdown on Wall Street’s use of unapproved messaging channels for business discussions, including WhatsApp. The SEC announced that eight broker-dealers, investment advisers, and rating agencies, such as Perella Weinberg, …
The US securities regulator has expanded its investigation into Wall Street’s use of private messaging apps by collecting thousands of staff messages from major investment companies. The Securities and Exchange Commission (SEC) had initially asked the companies to internally review messages in its investigation of WhatsApp, Signal, and other unapproved messaging apps. However, the SEC …
Think of a “banana republic” and you’re likely to envision a distant land ruled by corrupt dictators who manipulate the economy and persecute their political opponents. Surprisingly, such places still exist in the United States, where power-hungry individuals control the narrative. Take, for example, the absurd campaign-finance fraud case presented by partisan Democrat Manhattan DA …
Federal prosecutors have launched an investigation into Tesla’s allocation of company funds to a secret project referred to internally as a residence for CEO Elon Musk, according to the Wall Street Journal. The house, located near Austin, Texas, has not been linked to any specific monetary figures. It was previously disclosed that Tesla board members …