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☆ Global assets in spot bitcoin ETFs hit $4.16 billion - CoinGecko
▼ + stars: | 2023-11-03 | by ( Suzanne Mcgee | ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsNov 3 (Reuters) - Global assets invested in exchange-traded funds (ETFs) tied to the spot price of bitcoin now total $4.16 billion, according to CoinGecko, a cryptocurrency data and analysis company. Nearly half of that sum, or $2 billion, is invested in the seven spot bitcoin ETFs that have been launched in Canada since 2021. Canada also is home to the single largest of the 20 ETFs, the Purpose Bitcoin ETF , which has $819.1 million in assets. The SEC has so far denied all spot bitcoin ETF applications, saying applicants have not shown they can protect investors from market manipulation. There's fierce debate about the potential size of the U.S. spot bitcoin ETF market, with estimates starting at $1 billion or more in first-day demand.

Persons: Dado Ruvic, Suzanne McGee, Mark Potter Organizations: REUTERS, Global, United States Securities, Exchange Commission, SEC, Thomson Locations: bitcoin, Canada, U.S, Jersey, Cayman Islands, Liechtenstein, Brazil, Australia

☆ Crypto firm Ripple buys Swiss startup as SEC crackdown forces companies to consider overseas moves
▼ + stars: | 2023-05-17 | by ( Ryan Browne | ) www.cnbc.com time to read: +5 min

Ripple CEO Brad Garlinghouse speaks during the Milken Institute Global Conference in Beverly Hills, California, on Oct. 19, 2021. "This is the largest deal we've seen in the last year," Brad Garlinghouse, CEO of Ripple, told CNBC on a call Tuesday. Garlinghouse said last week that the firm will have spent $200 million in total defending itself against the SEC lawsuit. Numerous crypto industry insiders have been calling for a clear regulatory framework from the U.S. Congress to help give companies clarity over how they can operate in a way that's legally sound. WATCH: Ripple will have spent $200 million fighting SEC lawsuit, CEO says

☆ Credit Suisse says outflows have stabilized but not reversed
▼ + stars: | 2023-03-14 | by ( ) www.reuters.com time to read: +1 min

ZURICH, March 14 (Reuters) - Credit Suisse (CSGN.S) said customer "outflows stabilized to much lower levels but had not yet reversed as of the date of this report" in its 2022 annual report published on Tuesday. The bank previously said the picture had been improving and that it was seeing money returning to the bank. Last week Credit Suisse said the SEC had called it regarding "certain open SEC comments about the technical assessment of previously disclosed revisions to the consolidated cash flow statements in the years ended December 31, 2020, and 2019, as well as related controls." The cost of insuring against a Credit Suisse debt default also rose to a new all-time high at 466 bps, up 49 bps from Friday's close. ($1 = 0.9129 Swiss francs)Reporting by Noele Illien; Editing by Kim Coghill and Sonali PaulOur Standards: The Thomson Reuters Trust Principles.

☆ Exclusive: Credit Suisse regulatory compliance head leaving as part of wider overhaul -sources
▼ + stars: | 2023-03-09 | by ( Stefania Spezzati | ) www.reuters.com time to read: +2 min

[1/2] A logo is pictured on the Credit Suisse bank in Geneva, Switzerland, February 22, 2023. The sources said Gooding's departure is not related to Thursday's postponement by Credit Suisse of the publication of its annual report. Gooding, who has spent about 18 years at Credit Suisse, reported to Nita Patel, the group chief compliance officer, and his responsibilities will be reassigned, the sources added. Credit Suisse is cutting 9,000 jobs as part of a restructuring plan announced in October to restore profitability after a series of scandals and losses that have drawn regulatory scrutiny and undermined investors confidence. Gooding's tasks will be assigned to Roger Senteler, chief compliance officer for the wealth management unit, and Alain Bieger, chief compliance officer for the Swiss bank division, the people said.

ZURICH, March 9 (Reuters) - Credit Suisse has postponed publication of its annual report after a last-minute call from the United States Securities and Exchange Commission (SEC), which raised questions about its earlier financial statements. Credit Suisse said it had then decided to postpone publication of the annual report. It is unclear when the 2022 annual report will be released. Credit Suisse shares were indicated 3.2% lower in pre market activity in Zurich. Among a string of scandals, Credit Suisse was hard hit by the collapse of U.S. investment firm Archegos in 2021 as well as the freezing of billions of supply chain finance funds linked to insolvent British financier Greensill.

☆ U.S. probes Wells Fargo's retention of employee communications
▼ + stars: | 2023-02-22 | by ( ) www.reuters.com time to read: +1 min

Feb 21 (Reuters) - U.S. regulators are investigating Wells Fargo & Co's (WFC.N) retention of employee communications over "unapproved" messaging tools, the bank said on Tuesday, the latest in a crackdown that has already sparked billions of dollars in fines. The United States Securities and Exchange Commission and the United States Commodity Futures Trading Commission have undertaken the probes, the fourth-largest U.S. bank disclosed in a filing. The scrutiny highlights the challenges Wall Street institutions have faced in tracking staff communications in the work-from-home pandemic era, particularly over personal devices and apps like WhatsApp. In September, the SEC fined 16 financial firms, including major global banks, a combined $1.8 billion after staff discussed deals and trades on their personal devices and apps. Reporting by Akriti Sharma in Bengaluru Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

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