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☆ Crypto execs says the bull run is underway and could lead to $100,000 bitcoin in 2024
▼ + stars: | 2023-12-04 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +4 min

"It feels that [2023]was a year to get ready for the bull run that is yet to come. But the sentiment is very hopeful for [2024] and 25," Pascal Gauthier, CEO of Ledger, told CNBC last week in an interview. Since then, the crypto industry has been hit with a litany of issues from the collapse of coins and projects to bankruptcies and criminal trials. It began with Standard Chartered last week which reiterated an April price call that bitcoin would hit $100,000 by end of 2024. "Combined with geopolitical crosscurrents, this healthy dose of monetary support should push Bitcoin to new highs in 2024."

Persons: Chino, Bitcoin, Pascal Gauthier, Ledger, Sam Bankman, Changpeng Zhao, David Marcus, Marcus, Facebook's, Diem, Gauthier, Vijay Ayyar, Matrixport Organizations: Getty, CNBC, U.S . Department of Justice, bitcoin, Standard Chartered, Federal Reserve

☆ Crypto sector nearing end of 'speculative phase,' Lightspark CEO says
▼ + stars: | 2023-11-30 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCrypto sector nearing end of 'speculative phase,' Lightspark CEO saysDavid Marcus, co-founder and CEO at Lightspark, discusses the state of the cryptocurrency sector, which he says is near the end of the "speculative phase."

Persons: David Marcus

Company bosses have vowed never to hire members of a university's student groups that condemned Israel. The fallout from the Israel-Hamas war has spilled into workplaces everywhere, as top leaders of prominent companies weigh in with their views while workers complain their voices are not being heard. Starbucks filed a lawsuit to stop Starbucks Workers United from using its name and a similar logo. Workers United, the parent union of Starbucks Workers United, responded with its own lawsuit saying Starbucks defamed the union by implying it supports terrorism. Starbucks Workers United tweeted a longer message on Friday denouncing Israel’s “occupation” and “threats of genocide Palestinians face” while also condemning antisemitism and Islamophobia.

Persons: Israel, J.P Morgan Chase, Goldman Sachs, Albert Bourla, Pfizer, ” Bourla, Paddy Cosgrave, “, David Marcus, Cosgrave, Jonathan Neman, Winston, Strawn, Isra, Abuhasna, Israel’s, Angela Berg, Perelaks, Berg, Julie Sweet, David, Allison Grinberg, Funes, didn't, ”, Grinberg, Dee, Ann Durbin Organizations: Starbucks, Company, Hamas, U.S, Google, Pfizer, Summit, Siemens, Intel, Harvard, New York University, Student Bar Association, Islamic Relations, Palestinian, Starbucks Workers, . Workers United, Starbucks Workers United, Accenture, Associated Press, Liberty Mutual, Israel . Liberty Mutual Locations: Israel, Gaza, Chicago, Palestinian American, U.S, Palestine, Boston, Funes

☆ Tech leaders are pulling out of a CEO's conference over remarks he made about Israel
▼ + stars: | 2023-10-16 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +6 min

"War crimes are war crimes even when committed by allies, and should be called out for what they are." War crimes are war crimes even when committed by allies, and should be called out for what they are. Israel's ambassador to Portugal, Dor Shapira, announced Monday that his country would no longer participate in the Web Summit conference as a result of Cosgrave's "outrageous statements." AdvertisementAdvertisement"We are saddened to hear that some Israelis in the tech community will no longer be attending Web Summit," a spokesperson said. "To repeat: War crimes are war crimes even when committed by allies & should be called out for what they are," Cosgrave wrote.

Persons: Israel, —, Paddy Cosgrave, I'm, Cosgrave, I’m, — Paddy Cosgrave, Dor Shapira, Shapira, Garry Tan, Y, Goshen, Ravi Gupta, Keith Peiris, Tome, Adam Singolda, David Marcus Organizations: Tech, Service, Web, AI21 Labs, Sequoia, PayPal, Web Summit, Hamas Locations: Europe, Israel, Irish, Lisbon, @paddycosgrave, Portugal, Goshen, Gaza, Palestinian

☆ The former head of Meta's failed stablecoin project admits he was too 'idealistic.' Now David Marcus's new startup plans to work within the system.
▼ + stars: | 2023-09-14 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +5 min

With an ultimate goal to be the go-to currency for the global financial system, it was, in hindsight, too ambitious, Marcus admits now. "If you're dependent on one centralized stablecoin to do global payments, it's a problem as we've experienced firsthand," he said. Why Meta's crypto project failedIn 2019 Meta unveiled plans to create a digital currency pegged to hard currencies including the US dollar. With his new startup, Lightspark, Marcus plans to hypercharge the global payments system is simpler, or at least less grandiose. Users will swap their local currency for bitcoin and then have it converted to the local currency of whichever country the capital is needed in.

Persons: David Marcus, Meta's, Libra, Diem, Marcus, Meta, that's, Mark Zuckerberg, he's, Christian Catalini, Marcus's, Catalini Organizations: PayPal, Visa, Securities and Exchange Commission, Meta, bitcoin, Facebook, JPMorgan, Bloomberg Locations: Manhattan, Los Angeles, Bahrain

☆ We're trying to turn Bitcoin into a real global payment network, says Lightspark CEO
▼ + stars: | 2023-09-11 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe're trying to turn Bitcoin into a real global payment network, says Lightspark CEODavid Marcus, co-founder and CEO at Lightspark, joins 'Squawk Box' to discuss the company's project around the lightning network, why it's so important to work on the global payments system, and more.

Persons: David Marcus

☆ Disney agrees to settle Magic Key annual pass lawsuit
▼ + stars: | 2023-09-08 | by ( Samantha Delouya | ) edition.cnn.com time to read: +2 min

CNN —The Walt Disney Company agreed to pay $9.5 million to settle a class-action lawsuit that accused the entertainment giant of “deceptive business practices” in regard to its Disneyland annual pass program, according to a court filing Thursday. The suit alleges that “thousands of people” with Magic Key passes may have been affected and were eligible to participate in the class action suit. A statement attributed to Disneyland officials said they “are satisfied that this matter has been resolved.”The attorneys representing affected Magic Key pass-holders did not immediately respond to CNN’s request for comment. Disney’s Magic Key pass program was introduced two years ago, replacing the theme parks’ legacy Annual Pass Program. Disneyland offers four Magic Key passes at different price points.

Persons: David Marcus, Marcus, they’ve, ”, “, ” Marcus Organizations: CNN, Walt Disney Company, University of California, Disney Locations: California, Anaheim , California, Los Angeles

☆ Lawmakers tussle over GOP efforts to thwart ESG investing
▼ + stars: | 2023-07-12 | by ( Chelsey Cox | ) www.cnbc.com time to read: +4 min

WASHINGTON — House lawmakers clashed Wednesday over federally mandated environmental, social and governance disclosure requirements for companies rolled out amid concerns over growing climate disasters. The GOP majority committee members decried the disclosure rules as part of a broader push to discourage ESG investing nationwide. Democrats defended them as necessary to promote responsible investing to reduce inequities and curb climate change. "These politically motivated regulations not only discouraged private companies from going public but also hinder the competitiveness of American public companies." Democratic Rep. Maxine Waters, meanwhile, criticized Republicans' attempts to undermine what she called the federal government's responsibility to hold public companies accountable for ESG.

Persons: Patrick McHenry, Maxine Waters, David Marcus, Facebook’s Calibra, Biden, Waters, Gary Gensler, Joe Biden, Andy Barr, Benjamin Zycher, Zycher, Juan Vargas, Vargas Organizations: Financial, Consumers, Investors, American, WASHINGTON —, Republican, Financial Services, GOP, Securities and Exchange, SEC, Democratic, ESG, European Union, Labor Department, Republicans, American Enterprise Institute Locations: Washington , U.S, McHenry, R, Ky

☆ Major business group slams disclosure rules as House Republicans probe ESG investing
▼ + stars: | 2023-07-10 | by ( Emily Wilkins | ) www.cnbc.com time to read: +2 min

WASHINGTON – As Republicans in the House dig in to investigate environmental, social and governance, or ESG, investing, a major industry group that represents thousands of companies is urging them to make reforms. The letter is addressed to committee Chairman Rep. Patrick McHenry, R-N.C., and ranking member Rep. Maxine Waters, D-Calif. The letter underscores the business muscle behind the GOP's battle against policies that back ESG investing. ESG investing has become a heated policy battleground. Progressive Democratic lawmakers have pushed back, arguing that considering ESG makes investors more aware of potential risks and opportunities.

Persons: Patrick McHenry, Maxine Waters, David Marcus, Facebook’s Calibra, McHenry, ESG Organizations: Financial, Consumers, Investors, American, WASHINGTON –, National Association of Manufacturers, Financial Services Committee, SEC, CNBC, NAM, Johnson, Exxon Mobil, Pfizer, Progressive Democratic Locations: Washington , U.S, R

☆ Nvidia is in a great position to be in a winner-takes-all moment for A.I., says Lightspark CEO
▼ + stars: | 2023-06-13 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNvidia is in a great position to be in a winner-takes-all moment for A.I., says Lightspark CEODavid Marcus, co-founder and CEO at Lightspark, joins 'Squawk on the Street' to discuss his thoughts on Nvidia and its future.

Persons: David Marcus Organizations: Nvidia

☆ Key lawmakers say upcoming hearings on bank failures aim to boost U.S. confidence in banking sector
▼ + stars: | 2023-03-24 | by ( Chelsey Cox | ) www.cnbc.com time to read: +4 min

WASHINGTON — A bipartisan group of lawmakers overseeing the recent turmoil in the banking sector said Wednesday that they aim to increase Americans' confidence in the banking industry after Silicon Valley Bank and Signature Bank collapsed over the last two weeks. Regulators and lawmakers are also trying to contain further damage to the economy and reinforce confidence in the banking system. Sen. Tim Scott, a South Carolina Republican and ranking member of the Senate Banking Committee, also said writing new laws should take a back seat at the hearings to investigating what happened. We can't legislate that either in the financial sector or among financial institutions management, nor with the regulators." Sen. Sherrod Brown, an Ohio Democrat and chairman of Senate Banking Committee, compared the SVB collapse to the devastating train crash in East Palestine, Ohio.

☆ How a GOP-controlled House will attack ESG and corporate climate change strategy
▼ + stars: | 2022-12-21 | by ( Tim Mullaney | ) www.cnbc.com time to read: +2 min

"I don't think that's a proper characterization of my view," McHenry said in an interview with CNBC Senior Congressional Correspondent Ylan Mui. What I think corporations should do is focus on their key knitting," he said. Vanguard Group also had been scheduled to testify, but after the fund giant abandoned an investment industry climate alliance, that changed. McHenry, rated as one of the most moderate House Republicans by non-profit GovTrack US, doesn't seem interested in the state approach. "It plays politics with corporations, in the name of having corporations not play politics."

☆ Elon Musk's Crackdown at Twitter Offers Hope to Fellow Tech Founders
▼ + stars: | 2022-12-19 | by ( Melia Russell | ) www.businessinsider.com time to read: +9 min

But there's one group, almost unnoticed in the midst of the online firestorm, that has been cheering Musk on from the sidelines: other tech executives. To some founders, Musk is simply a monstrous version of the executive they wish they could be. Musk is getting rid of perks like free meals in the Twitter cafeteria — and other tech executives are taking note. Musk's slash-and-burn approach gives tech executives cover for making unpopular decisions. But now, as tech companies cut back to prepare for a recession, the "rough waters out there" have forced his staff to "reevaluate" their demands.

☆ A former Facebook exec says an employee at a 'large tech company' once complained to the CEO in an all-hands meeting about the quality of company toilet paper
▼ + stars: | 2022-11-29 | by ( Aaron Mok | ) www.businessinsider.com time to read: +4 min

A former Facebook exec tweeted that an employee once complained to a 'large tech' CEO about the quality of the toilet paper during an all-hands meeting. His tweet came on the same day Elon Musk told Twitter employees to quit if they can't commit to working long hours. The tweet reflects a growing belief among tech execs that employees have become too lazy. Sign up for our newsletter for the latest tech news and scoops — delivered daily to your inbox. Former Facebook and PayPal executive David Marcus tweeted that an employee once complained about the quality of a company's toilet paper during an all-hands meeting.

Jordan Vonderhaar | Bloomberg | Getty Imageswatch nowSaylor was speaking on CNBC's "Squawk on the Street" as FTX's demise roiled the crypto market. Bitcoin tumbled 19% in December, as investors rotated into assets deemed safer in a tumultuous economy. David Marcus, former head of crypto at Facebook parent Meta , used a phrase that would soon enter the lexicon. "It's during crypto winters that the best entrepreneurs build the better companies," Marcus wrote in a Jan. 24 tweet. Ryan Gilbert, founder of fintech venture firm Launchpad Capital, said the crypto world is facing a crisis of confidence after the FTX implosion.

☆ PayPal is trying to leverage its $4 billion deal for Honey with a new feature that combines cash-back rewards across the payments giant. Here's why it made the change ahead of the holiday season.
▼ + stars: | 2022-10-17 | by ( Emmalyse Brownstein | Carter Johnson | ) www.businessinsider.com time to read: +5 min

PayPal is combining cash-back rewards earned through Honey, PayPal's debit and credit cards, and the PayPal app. PayPal acquired Honey in 2019 for $4 billion, and this is its latest strategy to "leverage" the browser extension product. The payments giant will announce on Monday plans to combine the cash-back perks of several of its offerings into one system, called PayPal Rewards. The new tool will allow customers to pool cash-back rewards earned from their various products: the PayPal app, PayPal Honey, and, in the future, PayPal's Cashback Mastercard and PayPal's debit card. The expansion of PayPal's rewards offering also comes as established competitors like JPMorgan Chase,Wells Fargo, and CashApp continue to leave an impression on the market.

☆ PayPal says policy to fine customers for 'misinformation' was an 'error'
▼ + stars: | 2022-10-10 | by ( ) www.reuters.com time to read: +1 min

Oct 10 (Reuters) - PayPal Holdings Inc (PYPL.O) said on Monday it will not fine users for misinformation and an earlier policy update that said customers could have to pay $2,500 in damages was sent in error. Shares of the San Jose, California-based company were down nearly 6% after the update, which PayPal said "included incorrect information", sparked intense backlash on social media over the weekend. "PayPal is not fining people for misinformation and this language was never intended to be inserted in our policy. The new policy, which said customers could have to pay damages of $2,500 for each violation, was supposed to go into effect on Nov. 3, the reports said. PayPal's former president David Marcus slammed the policy in a tweet on Saturday, saying the new policy "goes against everything I believe in".

☆ PayPal says it never intended to fine users for "misinformation" - Bloomberg News
▼ + stars: | 2022-10-10 | by ( ) www.reuters.com time to read: +1 min

PayPal published policy updates prohibiting customers from using its services for activities identified by it as "sending, posting, or publication of any messages, content, or materials" promoting misinformation, the report said, citing a statement from the company. Register now for FREE unlimited access to Reuters.com RegisterShares of PayPal were down nearly 5.1%. PayPal's former president David Marcus slammed the policy in a tweet on Saturday, saying the new policy "goes against everything I believe in". Elon Musk, the billionaire Tesla Inc (TSLA.O) chief who co-founded PayPal, tweeted "Agreed", replying to Marcus's tweet. Register now for FREE unlimited access to Reuters.com RegisterReporting by Niket Nishant in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

☆ Tech leaders dish on how asinine it is to try to describe their companies, products, and worth to Congress
▼ + stars: | 2022-09-21 | by ( Hanna Kang | Kayla Gallagher | ) www.businessinsider.com time to read: +24 min

Tech companies are worried an aging Congress can't meet or even understand their demands. Younger members of Congress are beginning to take the lead in conversations on tech issues. Hawley said younger members are generally more critical of big tech. However, he added, new technologies are more widely used by younger people, and users tend to understand technology better. Meanwhile, major tech companies continue to ramp up their federal lobbying spending, together spending more in 2021 than in any other year in history.

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