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Coinbase shares surged after a Manhattan federal judge dismissed a class-action suit against the cryptocurrency exchange Wednesday in a rare crypto legal victory.
The plaintiffs had also claimed that Coinbase's marketing showed an effort to solicit a sale of securities.
The suit was filed in October 2021 and implicated Coinbase CEO Brian Armstrong as the primary "control person" at the exchange.
It comes as Securities and Exchange Commission Chair Gary Gensler aggressively pursues actions in the crypto space in part by arguing they represent securities offerings.
Earlier this year, Gensler announced a joint enforcement action against crypto exchange Gemini and the now-bankrupt crypto lender Genesis Trading.
REUTERS/Athit Perawongmetha/Summary WHO's executive board meets from Jan. 30-Feb. 7WHO seeking $6.86 bln for 2024-2025 budgetBody seen pushing for bigger role in global health crisesGENEVA, Jan 30 (Reuters) - The World Health Organization will push at its board meeting this week for an expanded role in tackling the next global health emergency after COVID-19, but is still seeking answers on how to fund it, according to health policy experts.
Also on his list was "the position of the World Health Organization, recognizing there is a need for a reinforced central role for WHO" in the global health emergency system.
"It's a huge knot," said Nicoletta Dentico, the co-chair of the civil society platform the Geneval Global Health Hub.
PANDEMIC PREPARATIONThe WHO, which celebrates its 75-year anniversary having been set up in 1948, will also use the meeting to advocate for a boosted role in pandemic preparedness, documents showed.
Tedros will call for a Global Health Emergency Council to be set up linked to WHO governance.
Protesters rally against the fatal police assault of Tyre Nichols, outside of the Coleman A.
Five Memphis officers, also all Black, were charged with second-degree murder in the beating of Tyre Nichols, who died in hospital on January 10 three days after being stopped on suspicion of reckless driving.
Durbin added that he would not rule out a federal investigation into the entire Memphis Police Department following Nichols' death.
Some policing reforms were already in place in Memphis at the time of Nichols' death, including a requirement for officers to de-escalate situations where they saw others using excessive force.
"Just as much those officers are responsible for the death of Tyre Nichols, so is the implicit bias police culture that exists in America," Crump told ABC's "This Week."
The Razzie Awards, the sardonic awards organization that celebrates lousy films and performances, said it would no longer nominate actors and filmmakers under the age of 18 after the group faced backlash for naming a child among this year’s worst actresses.
The Razzies this week nominated Ryan Kiera Armstrong , a 12-year-old actor, for her performance as a girl with pyrokinetic powers in 2022’s “Firestarter,” a remake of the 1984 film based on the Stephen King novel.
The role was originally played by Drew Barrymore .
McCarthy made good on his promise to block former House Intelligence chair Adam Schiff and Rep. Eric Swalwell — both California Democrats — from serving on that panel.
In addition to keeping Schiff and Swalwell off the Intelligence Committee, McCarthy previously said he intended to remove Rep. Ilhan Omar, D-Minn., from the Foreign Affairs Committee.
Rep. Thomas Massie, R-Ky., who backed McCarthy but has caused headaches for GOP leadership in the past, also got a slot on the panel.
The coronavirus committeeRep. Brad Wenstrup, R-Ohio, will chair the special committee investigating the spread of the coronavirus.
Last week, McCarthy named GOP members to a third select committee, focused on competition between the U.S. and the Chinese Communist Party.
All five inmates who escaped from a Missouri jail this week were in custody as of Saturday morning, the St. Francois County Sheriff’s Department said.
The five escaped from St. Francois County Detention Center in Farmington early Tuesday night, they said.
All of the escapees were being held based on felony allegations, the sheriff’s department said.
St. Francois County Detention Center in Farmington, Mo.
The others were found hours later in Ohio, the St. Francois County Sheriff’s Department said Saturday.
Former astronaut Buzz Aldrin announced on Friday that he married his longtime love, Anca Faur, on his 93rd birthday.
Aldrin, one of the first people to land on the moon as part of the Apollo 11 mission over 50 years ago, posted the news on his Twitter.
"On my 93rd birthday & the day I will also be honored by Living Legends of Aviation I am pleased to announce that my longtime love Dr. Anca Faur & I have tied the knot," Aldrin wrote.
In 1969, Aldrin, along with astronaut Neil Armstrong, became one of the first people to land on the moon.
Edwin ‘Buzz’ Aldrin took his first airplane ride with his father when he was 2.
[1/2] Former astronaut Buzz Aldrin participates in the Veterans Day parade in New York U.S., November 11, 2019.
REUTERS/Brendan McDermid/File PhotoWASHINGTON, Jan 21 (Reuters) - Former U.S. astronaut Buzz Aldrin, who became the second human being to walk on the moon more than half a century ago, got married on his 93rd birthday, saying he and his bride were "as excited as eloping teenagers."
Faur, who has a doctoral degree in chemical engineering, has served as executive vice present of Buzz Aldrin Ventures for the past four years, according to her LinkedIn page.
"We were joined in holy matrimony in a small private ceremony in Los Angeles & are as excited as eloping teenagers," Aldrin said on Twitter.
The intense fame generated by the Apollo 11 mission 54 years ago overwhelmed Aldrin after he returned to Earth.
Super Bowl LVI was dubbed the "Crypto Bowl" after ads from crypto companies made a splash.
The larger crypto industry suffered billions in losses in 2022, highlighted by the collapse of FTX.
But in 2022, the game was dubbed the "Crypto Bowl," with FTX, Coinbase, Crypto.com, and eToro all debuting ads, along with Bud Light incorporating NFTs into its ad.
Here's a look back at how the four companies who advertised during the last Super Bowl are doing now.
Compared to FTX, other crypto companies that advertised during the Super Bowl had a remarkably stable year given volatility in the industry, but each had its troubles.
More corporate bosses could follow Iger's lead with fresh RTO mandates, says Caitlin Duffy, director of research at Gartner.
Plans to boost in-office days unlikely to pan outSo far, most hybrid policies expect workers in offices two to three times a week.
But requirements increasing in-office days are unlikely to become a norm, experts say.
As of January, workers say they want to work from home for 2.8 days on average, versus employers planning to allow 2.3 days remote.
Some leaders are expanding remote work to keep their workers happy with their jobs and pay, Bloom says.
Five inmates escaped from St. Francois County Detention Center in Farmington, Missouri, on Tuesday night, authorities said in a statement posted to Facebook.
They subsequently made their way to the ground, St. Francois County Sheriff’s Department Chief Deputy Gregory Armstrong said.
The group was last seen on camera driving southbound, according to the sheriff's department officials.
All of the inmates were being held on felony warrants and three of the inmates — Tucker, Sebastian and McSean — are known sex offenders, authorities said.
Authorities said that if members of the public spot the fugitives, they should not approach and they should call 9-1-1.
It came after Amazon said in November it was looking to cut staff, including in its devices and recruiting organizations.
The company had 2,450 employees, according to PitchBook data, suggesting around 490 employees were laid off.
In a letter to employees, CEO Logan Green and President John Zimmer pointed to "a probable recession sometime in the next year" and rising ride-share insurance costs.
Shopify: 1,000 jobs cutIn July, Shopify announced it laid off 1,000 employees, which equals 10% of its global workforce.
Tesla: 6,000 jobs cut
Moving species to save them — once considered taboo — is quickly gaining traction as climate change upends habitats.
Concerns persist that the novel practice could cause unintended harm the same way invasive plants and animals have wreaked havoc on native species.
“Climate change is causing a greater need for this — for taking a species outside its known historical range.”A pending change to the U.S.
“In the future, some species’ ranges may shift due to climate change, or their current habitats might become unsuitable due to invasive species encroachment,” Armstrong said in an email.
Humanity has been moving species around for centuries, often inadvertently and sometimes causing great harm.
Share sales by Coinbase Global Inc. officials fell sharply in 2022 along with the crypto exchange’s stock price.
Co-founder and Chief Executive Brian Armstrong has pocketed $4 million since November from selling shares, according to an analysis of regulatory filings.
The extended rally in crypto markets are helping boost shares of the US crypto exchange.
Coinbase cut 20% of its workforce last week, citing "increasingly challenging economic conditions."
The move in Coinbase stock comes as cryptocurrency prices continue their uptick.
Bitcoin jumped 20% in the past week, according to Messari, while the industry's market cap rebounded to more than $1 trillion over the weekend.
The multi-day rally in digital assets is helping boost Coinbase stock, though shares of the company are still down 75% in the past year.
Two weeks of mass layoffsCEO Brian Armstrong recently announced that Coinbase would lay off 20% of its staff.
Patrick T. Fallon / Getty ImagesIn the early days of January, several major companies in the cryptocurrency industry, such as Genesis, Coinbase, Blockchain.com, and Crypto.com, announced plans to significantly reduce their workforces.
For a few of these companies, such as Crypto.com and Genesis, this marks the second round of layoffs within a short period, following previous headcount cuts during the summer due to a decline in cryptocurrency prices.
In this recent spate of layoff announcements, some companies alluded to "unscrupulous actors," while others directly addressed the elephant in the room: FTX's bankruptcy.
Wide-scale layoffs at Coinbase Global Inc. won’t significantly impact its compliance team, as the cryptocurrency exchange remains under a New York regulator’s watch after recently settling allegations it violated anti-money-laundering laws.
Coinbase wants to cut operating expenses by 25% and plans to lay off about 950 people, Chief Executive Brian Armstrong said Tuesday.
A spokeswoman for the company, asked whether the departures would impact the exchange’s risk, compliance or legal teams, said there won’t be “meaningful” layoffs in key roles.
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The exchange in the settlement agreed to spend another $50 million to improve its compliance program over the next two years.
The GOP is likely to have a better chance in Porter's district with her out of the picture.
Enter Katie Porter, the first candidate to announce her intention to run for Feinstein’s seat.
Her Senate run has a potential downside for national Democrats that should be clear.
The problem Porter’s campaign raises for the Democrats has nothing to do with her chances of winning or what she would do in the Senate.
If they decide to seek the Senate seat, there will be no cost to House Democrats because their replacements are almost sure to be Democrats as well.
Brian Armstrong, CEO of Coinbase, said the crypto exchange will cut operating expenses by 25% from the previous quarter.
Coinbase Global Inc. said that it would eliminate around 20% of its staff and enact broad cost cuts, the latest sign of pain in the cryptocurrency industry.
Chief Executive Brian Armstrong said in a blog post Tuesday that crypto exchange Coinbase will reduce operating expenses by 25% from the previous quarter, including laying off about 950 people.
At the end of September, the company had around 4,700 employees.
The company said it expects to incur about $149 million to $163 million in restructuring expenses.
Its shares reversed course to fall 2.7% premarket after rising more than 5% on the layoffs announcement earlier.
Last year, rising interest rates and worries of an economic downturn wiped out more than a trillion dollars from the crypto sector.
However, the bigger blow came after larger crypto exchange FTX filed for bankruptcy protection in November.
Coinbase in November cut more than 60 jobs in its recruiting and institutional onboarding teams, after slashing 1,100 jobs, or 18% of its workforce, in June.
Robinson Worldwide Inc. has reached an agreement to work with its activist investors as analysts said new board member Jim Barber would be a strong candidate to lead the company.
Robinson’s then board chair as interim CEO as the board said it would start an immediate search for a permanent successor.
Robinson’s board, said Monday that Mr. Biesterfeld’s firing was a board decision.
Robinson has retained executive search firm Russell Reynolds Associates Inc. to find a permanent chief executive.
Coinbase announced Tuesday that it was laying off 950 people, about 20% of its staff.
Coinbase, like many other publicly traded and privately held crypto companies, has been hit hard by the massive plunge in the price of bitcoin and other cryptocurrencies.
Bitcoin is up more than 4% since the start of the year, suggesting that crypto prices may have finally bottomed out.
The hope is that bitcoin and other crypto prices may start to stabilize, especially if financial regulators start to provide more guidance and clarity about their stance on cryptos.
Several high profile crypto companies have gone belly up, most notably one-time crypto darling (and Coinbase rival) FTX.
Coinbase is cutting about a fifth of its workforce as it looks to preserve cash during the crypto market downturn.
Coinbase said the move would result in new expenses of between $149 million and $163 million for the first quarter.
"Long term that's a good thing.
But short term, there's still a lot of market fear."
Bitcoin is down 58% in the past year, while Coinbase shares are off by more than 83%.
Coinbase shares spiked up Tuesday after the crypto exchange said it plans to cut more jobs.
The stock reached a nearly one-month high after CEO Brian Armstrong outlined the decision to slash 950 jobs.
The crypto exchange plans to cut 950 jobs to reduce operating expenses by 25%, CEO Brian Armstrong said in a Tuesday blog post.
In Tuesday's blog post, Armstrong also appeared to point to FTX founder Sam Bankman-Fried as a negative source of pressure on the crypto market.
"In 2022, the crypto market trended downwards along with the broader macroeconomy," Armstrong wrote.
Coinbase and Amazon are the latest to be hit by a wave of layoffs at big US tech companies.
The companies are cutting thousands of employees in total.
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Coinbase is the latest tech giant to lay off hundreds of workers.
According to data cited by the Journal from Layoffs.fyi, a site that's been tracking layoffs since the start of the pandemic, tech companies slashed more than 150,000 in 2022 alone — compared to 80,000 in 2020 and 15,000 in 2021.