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☆ Tesla investor accuses Elon Musk of insider trading that banked him $7.5 billion
▼ + stars: | 2024-06-01 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +4 min

Read previewA Tesla investor accused Elon Musk of using insider information on his company to sell $7.5 billion worth of Tesla stock in 2022, according to a lawsuit filed Thursday in Delaware Chancery Court. "Musk's insider profits for his November and December sales were approximately $3 billion based on the January 3, 2023 closing price of $108.10 per share," the lawsuit alleged. AdvertisementPerry also accused Musk of misleading shareholders about what to expect in the fourth quarter of that year in an October 2022 earnings call. "So, Q4 is looking extremely good," Musk said in the call, according to a transcript published by The Motley Fool. AdvertisementMcCormick's ruling has caused Musk to sour on Delaware and has been pitching a move for Tesla to be incorporated in Texas.

Persons: —, Elon Musk, Michael Perry, Tesla, Perry, Musk, Larry Ellison, Ellison, James Park, Kathaleen McCormick, McCormick Organizations: Service, Business, Oracle, New York Times, University of California, Investors Locations: Delaware Chancery, Los Angeles, Delaware, Texas

☆ AI mania is just 'typical bubble hype' like the crypto craze, says top economist Paul Romer
▼ + stars: | 2024-05-30 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Advertisement"Right now there's way too much confidence about the future trajectory of AI," Romer said. However, the economist argued there was not enough data available for the tech to keep progressing at the same pace. "It's just a lot of hype, the typical bubble hype where people are trying to cash in on the latest trend." Taken together, Romer and Kaltbaum see AI-linked stocks as hogging the market's gains — rightfully or not — and view the frenzy as a sign of problems ahead.

Persons: —, Paul Romer, Gee, Romer, Gary Kaltbaum, Kaltbaum Organizations: Service, Bloomberg, Business, World Bank, Boston College, Nvidia, Nike, Kaltbaum Capital Management, Fox Business

☆ This type of coin is 'among the riskiest of cryptocurrencies,' investing expert says—here's what to know
▼ + stars: | 2024-05-29 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +4 min

In this photo illustration, a visual representation of the digital Cryptocurrency, Bitcoin is on display on March 5, 2024 in Paris, France. As meme stocks like GameStop temporarily surged this month, it appears meme coins are having a moment as well. But before you consider investing in cryptocurrency, it's important to understand the difference between meme coins, altcoins and bitcoin. And although every meme coin is an altcoin, every altcoin isn't necessarily a meme coin. "Meme coins are among the riskiest of cryptocurrencies because they seem to emerge from nowhere and information about them can be sparse," he says.

Persons: shiba, Pepe, Bitcoin, Satoshi Nakamoto, Nakamoto, Altcoins Altcoins, James Royal, you'll Organizations: GameStop, U.S ., CNBC, Federal Trade Commission Locations: Paris, France, cryptocurrency, stablecoins

☆ Americans are expected to splurge on travel this summer — again
▼ + stars: | 2024-05-26 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

Analysts are expecting the Memorial Day weekend to usher in yet another summer of strong consumer spending on travel and other leisure activities. “We haven’t seen Memorial Day weekend travel numbers like these in almost 20 years,” Paula Twidale, senior vice president at AAA Travel, said in a release. Spending this summer will likely be a little softer than last year’s, they said, but still strong. The bank’s consumer travel survey showed that 72% of people said they’re planning to travel, with 36% saying they’ve already planned their trip. Even among respondents making less than $75,000 a year, more than 60% said they’re planning to travel this summer.

Persons: ” Paula Twidale, Royal Caribbean’s, ” David Tinsley, they’ve, Joelle, aren’t, Dogecoin, Shiba Inu “, Atsuko Sato, ”, Sato, ” Kabosu, Kabosu, Shiba, Loretta Mester, Neel Kashkari, Lisa Cook, Robin, John Williams, Raphael Bostic, Lorie Logan Organizations: CNN Business, Bell, Washington CNN —, Transportation Security Administration, AAA, AAA Travel, Bank of America Institute, Bank of America, Japan, Europe, New York Fed, Public Policy Research, Mizuho Financial, Federal, Global, Index, Board, HP, Dick’s Sporting Goods, Abercrombie, Fitch, Eagle Outfitters, Costco, Dell, Dollar, Hormel, US Commerce Department, US Labor Department, National Association of Realtors, China’s National Bureau of Statistics, Atlanta Fed Locations: Washington, Caribbean, South Korea, Switzerland, Colombia, Costa Rica, Canada, Mexico, Domestically , California, Florida, California, “, Sakura, CAVA, Chewy, Burlington, Birkenstock, Nordstrom, Kohl’s

☆ RIP Kabosu, the celebrity canine who became the face of Dogecoin
▼ + stars: | 2024-05-24 | by ( Tom Carter | ) www.businessinsider.com time to read: +2 min

Kabosu, the Shiba Inu who became the face of Dogecoin, has died at the age of 18. Her quizzical expression went viral in 2010 and was later used as the cryptocurrency mascot. Elon Musk was one of Dogecoin's biggest fans, and Kabosu briefly became the Twitter logo in 2023. AdvertisementA diminutive Japanese dog who became the face of Dogecoin has died. The billionaire joked about Dogecoin on "SNL" and even briefly changed the Twitter home button to an image of Kabosu after buying the site in 2022.

Persons: Shiba Inu, Elon Musk, Kabosu, —, Dogecoin, Kabosu —, Atsuko Sato, Sato, Billy Markus, Jackson Palmer, Shiba Organizations: Service, Business Locations: Japan

☆ Kabosu: The dog who inspired Dogecoin has died
▼ + stars: | 2024-05-24 | by ( Anna Cooban | ) edition.cnn.com time to read: +2 min

London CNN —Kabosu, the dog that launched a thousand “doge” memes, has died, her owner announced Friday. The Japanese shiba inu “fell into a deep sleep” on Friday morning at 18 years of age, Atsuko Sato wrote in a blogpost. As I was touching her, she gently passed away,” wrote Sato, a kindergarten teacher in the Japanese city of Sakura. The popularity of “doge” memes was cemented in December 2013, when Kabosu became the face of alternative cryptocurrency Dogecoin — a tongue-in-cheek response to Bitcoin that reflected the internet’s love of animal memes. An X post by Dogecoin Friday called Kabosu the community’s “inspiration.” “The impact this one dog has made across the world is immeasurable,” the post read.

Persons: London CNN — Kabosu, shiba inu “, Atsuko Sato, ”, Sato, ” Kabosu, Kabosu, shiba, Tesla, cryptocurrencies, Mai Nishiyama Organizations: London CNN, Elon, Twitter, Dogecoin Locations: “, Sakura

☆ Kabosu, Shiba Inu Who Helped Define the Doge Meme, Dies at 18
▼ + stars: | 2024-05-24 | by ( Isabella Kwai | ) www.nytimes.com time to read: 1 min

Kabosu, a Shiba Inu whose “much wow” face helped launch one of the defining memes of the last decade and inspired the cryptocurrency Dogecoin, died on Friday. She was 18 years old. She “crossed the rainbow bridge” on Friday, her owner Atsuko Sato said on social media, adding that she died without suffering, and as Ms. Sato was petting her. She died at home in Sakura, a city east of Tokyo, Ms. Sato said in an email on Friday. Ms. Sato began posting photos of Kabosu enjoying her life and playing at home on her blog.

Persons: Shiba, Dogecoin, “, Atsuko Sato, Sato, ”, Kabosu Locations: Sakura, Tokyo

☆ Meme Stock Craze: the Sad Return of Roaring Kitty, GameStop, and AMC
▼ + stars: | 2024-05-16 | by ( Emily Stewart | ) www.businessinsider.com time to read: +5 min

Gill, who goes by Roaring Kitty on X and YouTube and by DeepFuckingValue on Reddit, was at the center of the 2021 GameStop saga. Shares of AMC, GameStop's fellow meme stock, surged by nearly 80% on Monday and 30% on Tuesday. What's changed is Roaring Kitty is tweeting, and not even really about a company. If you bought GameStop or AMC shares in 2021, it might not be a bad time to consider selling some to break even. Roaring Kitty is back, and people are tossing their money into the GameStop slot machine.

Persons: Keith Gill, Gill, Roaring Kitty, DeepFuckingValue, Davids, — Gill, tweeting, hasn't, me Gill, they're, it's, Robinhood, Bitcoin, Matt Damon, Eminem, Peter Kafka, cryptocurrency, Kitty Organizations: GameStop, YouTube, Porsche, AMC, UFC Locations: Massachusetts, What's, America

☆ Why bitcoin hasn't joined the latest meme stock craze this week
▼ + stars: | 2024-05-14 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

GameStop and fellow meme stock AMC Entertainment are each up more than 160% over the past two days. "This isn't 2021 when the world was locked down and awash with liquidity," said Antoni Trenchev, cofounder of crypto exchange Nexo. To be sure, there's a world of cryptocurrencies beyond bitcoin that includes meme coins. Noelle Acheson, economist and author of the "Crypto is Macro Now" newsletter, added that the meme stock run was "more of a revving of engines than a full take-off" and that macro issues are still pressuring bitcoin. Sylvia Jablonski, CEO and chief investment officer at Defiance ETFs, added that although bitcoin was "lumped into the meme stock category" in 2021, the market is starting to show signs of being taken more seriously now.

Persons: bitcoin, Bitcoin's, Antoni Trenchev, haven't, Shiba, Noelle Acheson, Acheson, Sylvia Jablonski Organizations: GameStop, AMC Entertainment, AMC, Metrics Locations: bitcoin, U.S, BlackRock, Defiance

☆ From Sports Betting to Meme Coins, Young Men Are Gambling in Droves
▼ + stars: | 2024-04-16 | by ( Emily Stewart | ) www.businessinsider.com time to read: +9 min

For young men in particular, it's an enticing, if a bit troubling, prospect. For some young men, a level of nihilism about the economy leads to an impetus to take some risks. Along with the rise of new customers, problem-gambling behavior is increasing, especially among young men. The New Jersey report identified a significant prevalence of high-risk stock trading among young men. According to the National Council on Problem Gambling, some 2.5 million Americans have a severe gambling problem, and another 5 million to 8 million have a problem it considers mild or moderate.

Persons: You've, Donald Trump's, Crypto, they're, they've, Timothy Fong, we've, Fong, it's, Kahlil Philander, haven't, Philander, Davids, Goliaths, Warren Buffett, Berkshire Hathaway, Emily Stewart Organizations: GameStop, AMC, NCAA, Pew Research, UCLA, Washington State University, National Council, sportsbooks, Business Locations: America, United States, Berkshire, New Jersey, Atlantic, Jersey, Plenty

Like tech stocks, bitcoin sometimes benefits from low interest rates and improved market liquidity, which can lead to better sentiment and greater investment in growth assets. Stock Chart Icon Stock chart icon Bitcoin turns higher after two days of losses"There has been an inverse relationship between rates and bitcoin price," said Oppenheimer executive director Owen Lau. "When the Fed increased interest rates in 2022, it took out liquidity from the market, which impacted bitcoin and tech stocks. When the Fed cuts rates, it provides liquidity to the market, which should benefit risky assets such as bitcoin. The Dow Jones Industrial Average , S&P 500 and Nasdaq Composite all closed at record highs after the Fed meeting wrapped up.

Persons: Bitcoin, cryptocurrency, Cryptocurrencies, Oppenheimer, Owen Lau, It's, Ether, Solana, dogecoin, MicroStrategy, CleanSpark, bitcoin, We've, Vijay Ayyar Organizations: Getty, Metrics, Federal, Polygon's, Iris Energy, Marathon, JPMorgan, Dow Jones, Nasdaq, CNBC

☆ Bitcoin briefly slumps below $63,000 after topping a record $73,000 last week
▼ + stars: | 2024-03-19 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +1 min

Bitcoin extended its slide on Tuesday, dropping more than $10,000 from its all-time high last week. Last week, it climbed to a record $73,679. The token tied to Solana fell 8%, dogecoin lost 7% and XRP slipped 2%. Among crypto-related stocks, bitcoin proxy MicroStrategy tumbled 10%, while crypto exchange Coinbase fell 5%. Mining stocks were down across the board, with the biggest ones, Riot Platforms and Marathon Digital , lower by 6% and 5%, respectively.

Persons: Bitcoin, cryptocurrency, Bartosz Lipiński, dogecoin, XRP Organizations: Metrics, Solana Locations: bitcoins

☆ Citadel's relocation to Miami was a success. But can Ken Griffin get the rest of Wall Street to do it?
▼ + stars: | 2024-03-15 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. In today's big story, we're looking at how two of the most powerful Wall Street firms are doing two years after relocating to Miami . Nearly two years ago the billionaire uprooted his hedge fund, Citadel, and market maker, Citadel Securities, from their Chicago headquarters to Miami. Employees at Citadel and Citadel Securities spoke to Business Insider's Emmalyse Brownstein about life in the new HQ . Shares tumbled 55% after The Wall Street Journal reported that Fisker had hired restructuring advisors to assist with a possible bankruptcy filing.

Persons: —, we're, sarayut Thaneerat, Tyler Le, Ken Griffin, Samantha Lee, San Francisco, Griffin, Anita Kot, Dogecoin, Elon Musk, Ned Davis, Fisker, Patrick Pleul, Andrew Cabellero Reynolds, Jenny Chang, Rodriguez, Sam Altman, Muhammad Ali, Steven Mnuchin, BI's Peter Kafka, Ezra Bailey, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb, George Glover Organizations: Service, Business, Wall, Citadel, Citadel Securities, Sunshine State, Miami, New York, Ned Davis Research, Street Journal, Elon, OpenAI, Google, KKR, Benz Locations: Miami, Florida, Chicago, New York, London, York, Plenty, San, Austin, He's, Blackstone

☆ The majority of altcoins launched since 2020 are dead, but bitcoin's latest rally could spark a revival
▼ + stars: | 2024-03-10 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

72% of crypto projects have died since 2020, a report from Alphaquest and Storible said. On Friday, crypto market capitalization hit a record high of $2.58 trillion. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Since 2020, 72% of crypto projects have died, according to a report published by Alphaquest and Storible. On Friday, the crypto market hit a new record, with capitalization reaching $2.58 trillion, Kuptsikevich wrote in a market update.

Persons: Storible, —, Alphaquest, FTX's, bitcoin, Geoff Kendrick, Alexander Kuptsikevich, Liquid Investments Seth Ginns, Kuptsikevich, Kendrick Organizations: Service, Standard, BTC, Business, CoinFund, Liquid Investments Locations: Alphaquest, altcoins

☆ Cryptocurrencies recover after bitcoin retreats from new record
▼ + stars: | 2024-03-06 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

On Tuesday bitcoin reached a new intraday record , for the first time since November 2021, of $69,210. It had been pushing higher for weeks – it's up 55% over the past month – and tumbled shortly after notching the new high. Bitcoin was last higher by 6% at $66,315.19, according to Coin Metrics, while ether rocketed more than 11% to $3,785.76, its highest level since January 2022. Cryptocurrencies bounced on Wednesday, recovering much of the losses from the previous day's sell-off, which came soon after bitcoin hit an all-time high. When traders use leverage to short bitcoin and the cryptocurrency's price rises, they buy bitcoin back from the market to close their positions, which pushes the price up and causes more positions to be liquidated.

Persons: bitcoin, –, Bitcoin, Cryptocurrencies, David Wells, Binance, Shiba, Microstrategy Organizations: Metrics, Solana, Marathon Digital, CNBC PRO

☆ Bitcoin's Wild Price Booms and Busts Are Going to Continue Forever
▼ + stars: | 2024-03-06 | by ( Emily Stewart | ) www.businessinsider.com time to read: +8 min

The main explanation for the recent gain in bitcoin's price is the Securities and Exchange Commission's begrudged blessing of spot bitcoin exchange-traded funds, investment vehicles that track bitcoin's price. As bitcoin ETF providers have to invest in the underlying assets — bitcoins — demand for those assets increases. "The speed of the come-up is much faster than I thought," he said, adding that he was specifically surprised at retail-trader activity in the bitcoin ETFs. (Also, not everyone agrees it will be good for bitcoin's price.) Or maybe, just maybe, the latest run will cement bitcoin's future as a more stable part of people's investment portfolios.

Persons: Bitcoin's, bitcoin, David Yermack, University's, who've, BlackRock's, Eric Balchunas, James Butterfill, it's, Butterfill, shiba inu, Nic Carter, Carter, Bitcoin, Yermack, Emily Stewart Organizations: bitcoin, University's Stern School of Business, Securities, Exchange, SEC, Wall, Fidelity, University's Stern School of, Bloomberg Intelligence, Federal Reserve, New York Community Bancorp, Castle, Ventures, Business Locations: New, bitcoin, BlackRock, David Yermack , New

☆ Bitcoin tops $65,000 as it nears 2021 all-time high
▼ + stars: | 2024-03-04 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Earlier, it rose to as much as $65,658.10, its highest level since November 2021. The price of bitcoin rose to start the week, edging even closer to its all-time high after the rally took a breather over the weekend. "What we're seeing today ... might well be a rerun of early last week when bitcoin surged $10,000 in the space of a couple of days. Investors have been extra eager to see bitcoin approach its all-time high. Nevertheless, long-term investors are confident that the combination of increasing demand for bitcoin through the new U.S. exchange-traded funds and a tighter supply expected after the April halving event will push the price of bitcoin to a new all-time high.

Persons: bitcoin, cryptocurrency, Antoni Trenchev, Crypto, David Duong, Dogecoin, Shiba, CleanSpark Organizations: Metrics, Nasdaq, Marathon Digital, Iris Energy

☆ Elon Musk attacked my article accusing him of gaming Twitter's algorithm for more attention. In some ways, it gave him exactly what he wanted.
▼ + stars: | 2024-02-15 | by ( Zoe Schiffer | ) www.businessinsider.com time to read: +9 min

Advertisement"Yes, Elon Musk created a special system for showing you all his tweets first," the Platformer headline read. "After his super bowl tweet did worse numbers than President Biden's, Twitter's CEO ordered major changes to the algorithm." In December 2022, a former Twitter employee had been sentenced to three years in prison for spying on behalf of Saudi Arabia. AdvertisementBy the end of the week, did anyone even remember there had been a Super Bowl? From EXTREMELY HARDCORE: Inside Elon Musk's Twitter, by Zoe Schiffer, published by Portfolio, an imprint of Penguin Publishing Group, a division of Penguin Random House, LLC.

Persons: —, Elon Musk, Rupert Murdoch, Elisabeth Murdoch, Musk, Biden, I'm, Jill Biden's, Jill Biden, Joe Biden, I'd, Elon, Zoe, Yang, Casey Newton, Biden's, Newton, who'd, Barack Obama, Twitter, Zoe Schiffer Organizations: Service, Farm, Super, News Corp, Kansas City Chiefs, Philadelphia Eagles, Business, Eagles, Twitter, Elon Musk, Google, Washington Post, Engineers, UPS, Elon, Penguin Publishing, Penguin Random Locations: Glendale , Arizona, Arizona, Oakland, Santa Barbara, Saudi Arabia

☆ Bitcoin breaks below $39,000 as post-ETF tumble continues
▼ + stars: | 2024-01-23 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Bitcoin extended its recent declines on Tuesday, falling further below $40,000 to its lowest level since the beginning of December. Some have pointed to short-term selling pressure from exits from the Grayscale Bitcoin Trust (GBTC), which has seen about $2 billion in outflows since Jan. 19 while BlackRock's iShares Bitcoin Trust and Fidelity's Wise Origin Bitcoin Fund have each seen more than $1 billion in inflow. Expectations around the event emerged last summer intensified in August, pushing the bitcoin price steadily higher. The move in bitcoin continued to pull the rest of the crypto market lower. Microstrategy , which has long traded as a proxy for the bitcoin price, lost 3%, while the biggest miners, Marathon Digital and Riot Platforms , fell 3% and 4%, respectively.

Persons: Bitcoin, BlackRock's, Fidelity's, Yuya Hasegawa, Ripple's XRP, dogecoin, Coinbase Organizations: Solana, Marathon, JPMorgan Locations: outflows, GBTC, bitcoin

☆ Fintech firm SoFi set to exit cryptocurrency business
▼ + stars: | 2023-11-29 | by ( ) www.reuters.com time to read: +1 min

Nov 29 (Reuters) - Financial technology firm SoFi Technologies (SOFI.O) is set to exit the cryptocurrency business and has given its customers the option to migrate to UK-based Blockchain.com, the companies said on Wednesday. The San Francisco-based company said it was ending its crypto services on Dec. 19, and starting Wednesday, new SoFi crypto accounts cannot be opened. SoFi said its eligible customers can migrate their account to Blockchain.com or close their account instead. Crypto users living in New York will not be eligible for the migration due to New York state availability. London-based Blockchain.com said crypto account holders at SoFi will get access to dozens of tokens traded on its platform.

Persons: Sam Bankman, Changpeng Zhao, SoFi, Blockchain.com, Arasu Kannagi Basil, Devika Organizations: SoFi Technologies, U.S . Securities, Exchange Commission, Bloomberg News, Thomson Locations: San Francisco, New York, London, Bengaluru

SoFi will no longer be offering crypto trading services starting on December 19, 2023. Account Minimum $0 ($1 for fractional shares; $2,000 for margin trading) Fees 0% ($5/month for Robinhood Gold) Pros Check mark icon A check mark. Buy, sell, or store more than 170 cryptocurrencies like bitcoin and dogecoinCheck mark icon A check mark. Limited staking options Insider’s Take Coinbase is one of the best investment platforms for crypto trading, staking rewards, and crypto storage. The crypto trading app has 24/7 customer support, zero trading fees, learning rewards features, and an online storage wallet.

Persons: SoFi, eToro, Jeremy Zafiros, you'll Organizations: SoFi, Robinhood, Coinbase, Pro, USA, eToro USA, Smart, eToro Trading, eToro, Visa, Mastercard Locations: Blockchain.com, USA, New York , Minnesota , Nevada , Puerto Rico , Tennessee, Hawaii, Guam, American Samoa , Northern Marianas, There's, New York , Nevada , Puerto Rico, American Samoa, Virgin Islands, Abra

☆ A Hollywood director took millions of dollars in Netflix funding and used it to trade options and crypto, report says. Here's a closer look at how he used the cash.
▼ + stars: | 2023-11-23 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

A movie director used Netflix funds to trade options and cryptocurrencies, The New York Times said. "47 Ronin" director Carl Erik Rinsch bet on Gilead Sciences and dogecoin, and against the S&P 500. He lost $6 million on options, but a winning bet on dogecoin boosted his balance to $27 million. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementA Hollywood director took millions of dollars of production funding from Netflix and used it to trade stock options and cryptocurrencies, The New York Times said on Wednesday.

Persons: Carl Erik Rinsch, dogecoin, —, Here's, Carl Erik Rinsch's, Rinsch's, Rinsch, Gilead, Dogecoin, Constantin, Rinsch didn't Organizations: The New York Times, Gilead Sciences, Service, Netflix Locations: The, Gilead

☆ Solana surges amid altcoin rally, nearly triples its price over the past month
▼ + stars: | 2023-11-15 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

The price of the Solana token jumped Wednesday amid an ongoing rally in altcoins and bullish remarks on the token from famed tech investor Cathie Wood. It has nearly tripled in price in the past month. "Ether was faster and cheaper than bitcoin [back] in the day – that's how we got ether. Activity on Solana has been growing all year, particularly in liquid staking protocols like Jito, according to data provider Kaiko. Solana is up about 510% this year and has been one of the best performing cryptocurrencies of 2023.

Persons: Cathie Wood, Solana, CNBC's, Wood, altcoins, outpacing, Polygon's, XRP, bitcoin, Mikołaj Zakrzowski, blowup, Sam Bankman, Fried Organizations: Ark, CNBC, CNBC PRO, Solana Locations: altcoins, Solana

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsCompanies Coinbase Global Inc FollowWASHINGTON, Nov 3 (Reuters) - The U.S. Supreme Court on Friday agreed to hear a dispute over Coinbase's (COIN.O) effort to move a dispute with users of the cryptocurrency exchange out of courts and into private arbitration, which businesses often prefer over litigation. The decision about which contract prevails, in turn, would determine if the dispute proceeds in arbitration or in court. Upon creating their Coinbase accounts, users agreed to resolve any disputes with Coinbase in arbitration. But a subsequent agreement that related specifically to the sweepstakes said disputes over the contest should be heard in court in California. A federal judge in California refused Coinbase's request to force the dispute into arbitration, as the company argued the user agreements required.

Persons: Dado Ruvic, duping, John Kruzel, Will Dunham Organizations: REUTERS, WASHINGTON, U.S, Supreme, Coinbase, Circuit, Thomson Locations: Coinbase, California, dogecoin, San Francisco, Coinbase's

Below is a list of Musk's legal entanglements. The SEC had said in May 2022 that it was looking into Musk's disclosures about his stake in company. $56 BILLION TESLA COMPENSATION LAWSUITA ruling is also expected soon following a non-jury trial challenging Musk's $56 billion pay at Tesla. EMPLOYMENT DISPUTESMusk's major companies Tesla, SpaceX and the X social media platform are embroiled in several legal disputes alleging age, gender or race-based discrimination. LAWSUITS SPARKED BY MUSK'S TWEETSMusk's tweets on the social media platform that he now owns has often courted controversy and been the subject of legal trouble.

Persons: Elon Musk, Chuck Schumer, Leah Millis, Musk, X, Tesla, Donald Trump, Tom Hals, Jaspreet Singh, Zaheer Kachwala, Noeleen Walder, Matthew Lewis, Rod Nickel Organizations: Intelligence, Senate, U.S, Capitol, REUTERS, Twitter, U.S . Securities, Exchange Commission, SEC, Tesla, SpaceX, U.S . Justice Department, California's Department of Civil Rights, U.S . National Labor Relations Board, U.S . SEC, Supreme, Wall Street, Thomson Locations: Washington , U.S, Florida, California, San Francisco, U.S, Los Angeles, Manhattan, Wilmington, Del, Bengaluru

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