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☆ J.Lo's director breaks down the wildest details in 'This Is Me...Now,' from casting actors as her exes to that cameo-laden 'zodiac council'
▼ + stars: | 2024-02-16 | by ( Callie Ahlgrim | ) www.businessinsider.com time to read: +11 min

For Meyers, Lopez's "emotional journey" is the connective thread, transforming a series of eclectic events into a complete story arc. Later, Jane Fonda (Sagittarius) compares Lopez's love life to a 4 a.m. "Vanderpump Rules" marathon. AdvertisementIn this scene, Lopez ties the knot with three different men at identical wedding ceremonies. In fact, Meyers said he and Lopez were careful to cast actors who didn't "accidentally depict" a real person from Lopez's life. She's unapologetic about what she's been through, and she's very happy where she is now."

Persons: —, Jennifer Lopez, She's, Shakira, Ben Affleck, Dave Meyers, Lopez, Ja, Pink Floyd, Jen, Fat Joe, Meyers, Variety, Affleck, couldn't, You've, Jen's, we're, Keke Palmer, Malone, Leo, Jane Fonda, Trevor Noah, Libra, Neil deGrasse Tyson, " Meyers, there's, scoff, They're, Tony Bellissimo, Derek Hough, Trevor Jackson, she's Organizations: Service, Super, Business, Zodiac Council, Zodiac, Love AA Locations: Bolivia

Here's the state of play globally for crypto regulation and enforcement in 2023 — and a look at what to expect in 2024. "However, much of their work has involved providing guidance to the industry through enforcement actions," continued Levin. Crypto market participants nevertheless hope that the spate of legal challenges brought to crypto companies in 2023 will bring clarity in the form of new regulations. The U.S.'s dominant role in global finance and its focus on consumer protection plays a crucial role in its leading position in crypto regulation enforcement. The region has been increasingly warming to crypto assets, despite a broader anti-crypto push from China, which banned bitcoin trading and mining in 2021.

Persons: Al Drago, Binance, Sam Bankman, Renato Mariotti, Mariotti, Richard Levin, Nelson Mullins Riley, Levin, ada, Changpeng Zhao, Damian Williams, Brian Armstrong, Armstrong, Alyse Killeen, Scarborough's Levin, FinCEN, Killeen, Diem, USDC, Braden Perry, it's, Kennyhertz Perry, Perry, Bafin Organizations: U.S . Securities, Exchange Commission, Bloomberg, Getty, Regulators, Securities and Exchange Commission, U.S, Alameda Research, U.S . Justice Department's Securities, Commodities, CNBC, Capitol, SEC, Futures Trading Commission, Department of Justice, Scarborough, CFTC, Protocol Labs, Southern, of, Stillmark, Meta, Visa, Mastercard, U.S ., European, IRS, European Union, EU, France's Financial Markets Authority, AMF, Treasury, Monetary Authority of, Three Arrows, Terra Labs, Terra, Hong Kong Securities, Futures Commission, SFC, OSL Locations: Washington, Europe, Asia, U.S, Alameda, of New York, European, Crypto, Ireland, Germany, France, Italy, Netherlands, Singapore, Dubai, Hong Kong, Monetary Authority of Singapore, China, East, Africa

Caesars paid around $15 million in ransom to regain access to its systems from the hackers, according to reporting by the Wall Street Journal. Some have been collecting evidence leading to the hackers' identities and are assisting law enforcement, according to the five insiders. The sources say that, following the September casino hacks, the FBI's investigation took on new urgency. Mandia didn't respond directly when asked whether Scattered Spider's identities were known to law enforcement. But he did say that there was no excuse for not arresting hackers who operated from the West.

Persons: Bridget Bennett, Michael Sentonas, Sentonas, Alphabet's, James Foster, Foster, cybercriminals, gona, Kevin Mandia, Mandiant, you've, Zeba Siddiqui, Raphael Satter, Christopher Bing, Chris Sanders, Claudia Parsons Organizations: MGM, MGM Resorts, REUTERS, FRANCISCO, U.S . Federal Bureau of Investigation, FBI, MGM Resorts International, Caesars Entertainment, Industry, Reuters, Department of Justice, Caesars, Wall Street, Palo Alto Networks, Microsoft, ex, Telegram, Thomson Locations: Las Vegas , Nevada, U.S, WASHINGTON, America, Palo, American, Baltimore , Maryland, United States, Newark , New Jersey, sextortion, San Francisco, Washington

The FBI is investigating the MGM and Caesars breaches, and the companies did not comment on who may be behind them. In some cases - Mandia did not say which ones - hackers tied to Scattered Spider placed bogus emergency calls to summon heavily armed police units to the homes of executives of targeted companies. ALPHV, which according to Mandiant is a "ransomware-as-a-service", would provide services such as a helpdesk, webpage and branding, and in turn get a cut of whatever Scattered Spider would make from the hack. While many ransomware attacks go unpublicised, the MGM hack was a vivid example of the real-world impact of such incidents. Ransomware gangs often function like large organizations, and continue to evolve their methods to adapt to the latest security measures organizations use.

Persons: Bridget Bennett, helpdesk, they’d, Wendi Whitmore, Adam Meyers, it's, Kevin Mandia, Mandiant, Reuters couldn't, CrowdStrike's Meyers, helpdesks, David Bradbury, they've, Bradbury, ALPHV, Okta's Bradbury, Whitmore, Zeba Siddiqui, Raphael Satter, Chris Sanders, Claudia Parsons Organizations: MGM, MGM Resorts, REUTERS, FRANCISCO, Alto Networks, Caesars Entertainment, FBI, Caesars, Google, Reuters, Microsoft, British, Thomson Locations: Las Vegas , Nevada, U.S, WASHINGTON, Canada, Japan, United States, reassign, Las Vegas, San Francisco, New York

☆ 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

REUTERS/Fabrizio Bensch/File Photo Acquire Licensing RightsWASHINGTON, Aug 21 (Reuters) - PayPal's (PYPL.O) stablecoin is likely to succeed where Facebook's failed, thanks to the payment giant's standing in Washington and policymakers' greater understanding of the issues in the last three years. "From a policy perspective, there is a seismic difference between Facebook's Libra and PayPal's stablecoin," said Isaac Boltansky, director of policy research for brokerage BTIG. Dan Dolev, a senior analyst at Mizuho, said PayPal USD is not a game-changer for PayPal investors. When Facebook unveiled Libra, a stablecoin whose operations were based in Switzerland and which was pegged to a basket of currencies, executives made no secret of their ambitions. Facebook rebranded Libra, scaled it back and moved the project to the United States, in a bid to win U.S. regulatory approval.

Persons: Fabrizio Bensch, stablecoin, Facebook's, Christopher Giancarlo, PayPal's, Isaac Boltansky, Dan Schulman, Dan Dolev, Maxine Waters, Joe Biden's, Janet Yellen, Yellen, TerraUSD, stablecoins, There's, Jack Fletcher, Patrick McHenry, Hannah Lang, Andrea Shalal, Pete Schroeder, Niket, Michelle Price, Matthew Lewis Organizations: PayPal, REUTERS, Rights, U.S ., Facebook, U.S . Commodity Futures Trading Commission, Federal Reserve, Meta, Paxos Trust, New York State Department of Financial Services, Mizuho, Financial Services, Treasury, Congress, prudential, Republican, Thomson Locations: Berlin, Germany, Washington, U.S, Switzerland, United States, transact, stablecoins, Bengaluru

☆ A continuous glucose monitor helped me discover I have hypoglycemia. Here's how startup January uses AI to predict blood sugar spikes and crashes and coached me to better food choices.
▼ + stars: | 2023-08-14 | by ( Samantha Stokes | ) www.businessinsider.com time to read: +16 min

The healthcare startup January uses CGMs and AI to monitor glucose levels, exercise, and sleep. I have low blood sugar, and January used machine learning to coach me to healthier habits. Low blood sugar, or hypoglycemia, is less common than high blood sugar, or hyperglycemia. Samantha Stokes/InsiderAt the end of January's AI training, I unlocked a suite of tools to track my food, exercise, blood sugar, and more. But January encouraged me to take a short walk after eating, which can help moderate glucose levels following a meal.

Persons: Marc Benioff, they're, Noosheen Hashemi, Hashemi, Marissa Mayer, Samantha Stokes, Mike Snyder, Insider's, What's, I've, CGM, didn't, Jesus Weligsander Perez Organizations: Felicis Ventures, AME Cloud Ventures, Apple Watch, Drug Administration, Stanford Medicine, Pace Locations: That's, SignalFire, Mount Sinai

Aug 8 (Reuters) - State banks that are a member of the U.S. Federal Reserve system should obtain a written supervisory nonobjection from the Fed before issuing, holding or transacting in dollar tokens used to facilitate payments, such as stablecoins, the central bank said in a new supervisory letter Tuesday. The Fed also said it is creating a new supervisory program to oversee the activities of the banks it supervises related to cryptocurrency, blockchain technology and tech-driven nonbank partnerships, with the aim of complementing its existing supervisory process and strengthening the oversight of tech-driven activities. Prior attempts by major mainstream companies to launch stablecoins have met fierce opposition from financial regulators and policymakers. For banks to receive a written nonobjection to be able to engage with stabelcoins, banks should demonstrate appropriate risk management, including having systems in place to identify and monitor any potential risks, including cybersecurity and illicit finance threats, according to the Fed. After receiving a written nonobjection, state member banks engaging in dollar token-related activities will continue to be subject to supervisory review as well as heightened monitoring of those activities, the Fed said.

Persons: Hannah Lang, Chris Reese, Jonathan Oatis Organizations: U.S . Federal, Federal Reserve, PayPal, ., Fed, Thomson Locations: Washington

☆ PayPal becomes first major fintech to launch dollar-backed stablecoin
▼ + stars: | 2023-08-07 | by ( Jaiveer Shekhawat | ) www.reuters.com time to read: +2 min

REUTERS/Fabrizio Bensch/File PhotoAug 7 (Reuters) - Payments giant PayPal (PYPL.O) said on Monday it has launched a U.S. dollar stablecoin, becoming the first major financial technology firm to embrace digital currencies for payments and transfers. Prior attempts by major mainstream companies to launch stablecoins have met fierce opposition from financial regulators and policymakers. Meta's (META.O), then Facebook, 2019 plans to launch a stablecoin, Libra, were foiled after regulators raised fears it could upset global financial stability. PayPal's stablecoin, dubbed PayPal USD, is backed by U.S. dollar deposits and short-term U.S Treasuries, and will be issued by Paxos Trust Co. Argus Research Corp analyst Stephen Biggar said PayPal's brand name makes the stablecoin launch significant but the company has been associated with crypto previously so it's not a surprise.

Persons: Fabrizio Bensch, PayPal's stablecoin, Stephen Biggar, PayPal's, Jaiveer Singh, Manya, Tom Wilson, Nivedita Bhattacharjee, Shounak Dasgupta, Shinjini Organizations: PayPal, REUTERS, European Union, U.S . House Financial Services, U.S, Paxos Trust, Argus Research Corp, Visa, Manya Saini, Thomson Locations: Berlin, Germany, Britain, United States, Bengaluru, London

☆ Middle-income Americans think prosperity is within reach
▼ + stars: | 2023-07-31 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +10 min

Santander recently released a quarterly survey of about 2,250 middle-income bank and financial services customers (defined as having household incomes between $47,000 and $142,000.) Illegal child labor is on the rise in a tight job marketUS child labor violations have jumped in recent years. Now, the Department of Labor has announced actions it’s taken so far this year through a new interagency task force on child labor. Between October 1, 2022, and July 20, 2023, the Department of Labor concluded 765 child labor cases, found 4,474 children employed in violation of federal child labor laws and assessed more than $6.6 million in penalties against employers, the agency announced on Thursday. In addition, the Wage and Hour Division of the Labor Department is currently pursuing more than 700 open child labor cases.

Persons: New York CNN —, Tim Wennes, “, ”, Bell, they’re, they’ll, they’ve, That’s, We’re, we’ve, BlackRock, Tupperware, it’s, Labor Julie Su, Jordan Barab, Obama, Barab Organizations: CNN Business, Bell, New York CNN, Federal, Heartland Tri, State Bank of, Federal Deposit Insurance Corporation, First Bank, Spain’s Santander, SC, Santander, New York Stock Exchange, GameStop, AMC, Libra Investment, Department of Labor, Labor, Occupational Safety, Health Administration, Labor Department Locations: New York, PacWest, Banc, California, State Bank of Elkhart , Kansas, America, United States, Santander, Florida, noncompliance, Tupperware

☆ Tupperware stock is up 165% this week for no good reason
▼ + stars: | 2023-07-28 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +2 min

New York CNN —The meme traders are back. Shares of Tupperware (TUP) have exploded by about 165% this week and more than 300% over the last month for no discernible reason. Sales are on the decline and Tupperware even warned in April that it was on the brink of bankruptcy. Before you join the “Tupperware party,” remember that meme stocks tend to be very volatile, with sweeping highs and lows. Tupperware shares are still down nearly 30% year to date.

Persons: BlackRock, “, ”, Tupperware Organizations: New, New York CNN, New York Stock Exchange, GameStop, AMC, Libra Investment Locations: New York, Florida, noncompliance, Tupperware

☆ Crypto is dead: long live crypto!
▼ + stars: | 2023-06-16 | by ( Felix Martin | ) www.reuters.com time to read: +8 min

The end of near-zero interest rates, quantitative easing and pandemic-era fiscal stimulus has sent prices crashing back to earth. Rising real interest rates have proved to be kryptonite for crypto, as for so many other speculative assets. The normalisation of interest rates may have done for crypto in its most recent incarnation as a get-rich-quick scheme. The proposition that the circulation of private currencies might be economically beneficial has also been around for a while. Nevertheless, history shows that for privately issued currencies to attain critical mass it has typically required more than just the availability of viable alternatives.

Persons: cryptocurrencies, Gary Gensler, noncompliance, Balaji Srinivasan, marc ”, Paul Krugman, Friedrich Hayek’s, Money ”, James Steuart, ”, Crypto, Long, Peter Thal Larsen, Oliver Taslic Organizations: Reuters, U.S . Securities, Exchange Commission, Coinbase, SEC, State, Brixton, counterparties, Central Bank of, Thomson Locations: Ithaca, Scottish, United States, Central Bank of Argentina

☆ Binance lawyers allege SEC Chair Gensler offered to serve as advisor to crypto company in 2019
▼ + stars: | 2023-06-07 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +4 min

SEC Chair Gary Gensler, who is in the midst of a hefty crackdown on crypto companies, offered to serve as an advisor to Binance's parent company in 2019, according to the lawyers for Binance and founder Changpeng Zhao. Before Gensler started going after Binance, he was trying to cozy up to the company, the lawyers say. The Wall Street Journal previously reported on Gensler and Binance's relationship, citing internal Binance messages and a person close to the SEC chair. Zhao's lawyers now say that the Zhao understood that Gensler was "comfortable serving as an informal advisor." Because of Gensler's ties to Zhao, Binance's lawyers said they'd asked for his recusal from any actions regarding the company.

Persons: Gary Gensler, Emanuel Cleaver, Changpeng Zhao, Gibson Dunn, Latham, Watkins, Gensler, Zhao, Biden, Binance, Gibson, Gensler's, they'd, Zhao's Organizations: Financial, Securities and Exchange Commission, SEC, Massachusetts Institute, Technology's Sloan School of Management, Binance, Street, MIT, Financial Services Committee, Facebook, CNBC Locations: Rayburn, Japan, Gensler, UAE

☆ Biden warns of recession unless Republicans back his debt ceiling plan
▼ + stars: | 2023-05-11 | by ( Nandita Bose | ) www.reuters.com time to read: +4 min

We're going to win this fight," Biden said at a flag-bedecked event at Westchester Community College in Valhalla, New York. Republicans are vowing to support raising the debt ceiling only if Biden agrees to retroactive reductions in government spending. Biden wants the debt ceiling lifted without spending cuts attached, but said he wants to negotiate the next budget. White House aides are meeting with congressional leaders' staff in Washington daily before Biden and the leaders meet again on Friday. Democrats view Republican House members who narrowly won election as possibly vulnerable to being pressured into breaking with their party's leadership and voting for a bill to raise the debt ceiling without conditions.

☆ Biden hits Republican debt ceiling plan in swing New York district
▼ + stars: | 2023-05-10 | by ( Nandita Bose | ) www.reuters.com time to read: +3 min

We're going to win this fight," Biden said at a flag-bedecked event at Westchester Community College in Valhalla, New York. Republicans are vowing to support raising the debt ceiling only if Biden agrees to retroactive reductions in government spending. Biden wants the debt ceiling lifted without spending cuts attached, but said he wants to negotiate the next budget. Biden spoke a day after he met with top Republican and Democratic lawmakers for the first time in three months to try to move forward on the debt ceiling and avoid a historic default. Democrats view Republican House members who narrowly won election as possibly vulnerable to being pressured into breaking with their party's leadership and voting for a bill to raise the debt ceiling without conditions.

☆ Biden heads to New York to talk debt ceiling, raise funds for re-election
▼ + stars: | 2023-05-10 | by ( Nandita Bose | ) www.reuters.com time to read: +2 min

In an appearance at Westchester Community College north of New York City, Biden plans to discuss the need to move quickly to head off default. Democrats view Republican House members who narrowly won election as possibly vulnerable to being pressured into breaking with their party's leadership and voting for a bill to raise the debt ceiling without conditions. House Speaker Kevin McCarthy has said Republicans will not vote to raise the borrowing limit without an agreement to cut spending. While Biden has largely focused on his presidential duties since announcing his bid for re-election, his campaign operation is coming to life. The events being planned for Biden are expected to generate some $2.5 million for his reelection campaign, according to sources.

☆ Joe Biden to attend $25,000 per person fundraiser during NYC campaign cash blitz
▼ + stars: | 2023-05-02 | by ( Brian Schwartz | ) www.cnbc.com time to read: +3 min

US President Joe Biden speaks about the creation of new manufacturing jobs at the Washington Hilton in Washington, DC, April 25, 2023. A Biden campaign spokesman declined to comment. An NBC News poll shows 46% of the Republican primary voters support Trump over other declared and potential rivals, including former Florida Gov. The majority of those surveyed said they would prefer that neither Biden nor Trump run for president. Trump and Biden combined to raise almost $2 billion during the 2020 election cycle, according to data from OpenSecrets.

☆ TikTok wants its advertisers to know the 'myths vs. facts' after its CEO's day in Congress
▼ + stars: | 2023-03-28 | by ( Paayal Zaveri | ) www.businessinsider.com time to read: +5 min

Now, it seems, TikTok wants to clear up some facts that lawmakers may have gotten wrong. TikTok wants to clear up "Myth vs Fact." After the TikTok CEO's 5-hour hearing at Congress last Thursday, the company wants to reassure advertisers that it'll be fine. The document states: "TikTok does not permit any government to influence or change its recommendation model." Advertisers make up a large chunk of TikTok's user base, which the company says is now at 150 million monthly active users in the US.

☆ Britain presses on with proposals for a digital pound
▼ + stars: | 2023-02-06 | by ( ) www.reuters.com time to read: +3 min

[1/2] Pound coins are seen in the photo illustration taken in Manchester, Britain September 6, 2017. BoE Governor Andrew Bailey said the implications of a digital pound - including privacy issues - had to be considered. Prime Minister Rishi Sunak asked the BoE to look into the case for a CBDC when he was finance minister in 2021. Unlike cryptoassets, the digital pound would be issued by the central bank and not the private sector and its value would be fixed. Instead they would have accounts with private digital wallet providers, which would provide digital pounds over public infrastructure.

☆ Expansionist dreams threaten ECB digital euro plan
▼ + stars: | 2023-01-17 | by ( Rebecca Christie | ) www.reuters.com time to read: +4 min

The idea of a digital euro with the same reserve backing as its physical equivalent is thus partly about Frankfurt controlling the process. At best, a digital euro could bring more citizens into the banking system, particularly those who don’t have enough money for traditional financial services products. That jars with central bankers’ preference to limit the digital euro to the EU at first. The euro does not need a digital currency, but its members have signalled they want one. Reuters GraphicsFollow @rebeccawire on TwitterCONTEXT NEWSEuro area finance ministers issued a statement on the so-called digital euro on Jan. 16, calling for political oversight and an international approach of a European central bank digital currency (CBDC).

☆ Covid broke supply chains. Now on the mend, can they withstand another shock?
▼ + stars: | 2023-01-16 | by ( Alicia Wallace | ) edition.cnn.com time to read: +8 min

“Because of that, supply chains are not as brittle as they were three years ago,” he said. “There could be another huge black swan event in a month that throws everything upside down; but for right now, it seems like respondents are predicting steadiness in the supply chain.”If anything, the pandemic’s shock to the supply chain should be a wake-up call, said Jack Buffington, director of supply chain and sustainability at First Key Consulting and assistant professor of supply chain management at the University of Denver. “I would categorize it as ‘efficiently broken,’” said Buffington, whose own book about supply chains, “Reinventing the Supply Chain: A 21st Century Covenant with America,” had its release delayed due to supply chain issues. “All supply chains really are is supply and demand, and there’s been so much disruption in materials and consumer demand related to labor and inflation and geopolitics,” he said. The complexities related to a globalized supply chain, human systems aren’t capable of handling it.”He added: “Covid wasn’t the cause of the problems with the supply chain, it was a trigger to show how bad it was,” he said.

☆ Even Elon and Zuck don't have the juice to make an all-in-one 'super app' happen
▼ + stars: | 2022-12-14 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +7 min

Mark Zuckerberg and Evan Spiegel harbor super app ambitions; Microsoft reportedly wants to build its take on a super app that would rival Google. At Facebook's parent company Meta, "super app" is a taboo word precisely because it's too abstract, Insider's Kali Hays reported last month. A newcomer super app has a tougher sell accessing this sophisticated, less trusting type of user. Silicon Valley's gatekeepers stand in the way of the super app dreamUS tech firms harboring super app ambitions will need to fend off their own regulators, overseas regulators, and Apple's App Store. As the CPP Investments white paper notes, super apps "can be thought of as operating platforms for mobile devices."

☆ The Cryptocurrency Adventures of Mark Zuckerberg and SBF
▼ + stars: | 2022-12-09 | by ( Holman W. Jenkins | ) www.wsj.com time to read: 1 min

Back in 2019, Facebook wanted to promote a new digital currency, Libra, to customers around the globe, many of them young people entering the cash economy for the first time through their smartphones. It seemed then a promising innovation and still does now. The proposal sadly landed at a moment when the tech giants were coming under political assault. A spirit of “let’s stop trying new things” was invading both political parties. CEO Mark Zuckerberg quickly retreated when he might have put Libra out there in defiance of the politicians to let a global public decide if it was useful.

☆ Coinbase CEO slams Sam Bankman-Fried: 'This guy just committed a $10 billion fraud, and why is he getting treated with kid gloves?'
▼ + stars: | 2022-12-08 | by ( Britney Nguyen | ) www.businessinsider.com time to read: +4 min

The CEO of Coinbase said that it's "bizarre" Sam Bankman-Fried is "getting treated with kid gloves." "I mean, this guy just committed a $10 billion fraud, and why is he getting treated with kid gloves?" "We appreciate that you've been candid in your discussions about what happened at #FTX," Waters tweeted. Criminal Activity!," Waters tweeted. He's not the only crypto CEO who's criticized the former FTX CEO recently.

☆ Oracle Hires Chief Legal Officer From Facebook’s Blockchain Project
▼ + stars: | 2022-11-10 | by ( Mengqi Sun | ) www.wsj.com time to read: +2 min

Oracle Corp. said it has hired the former chief executive officer of Meta Platforms Inc.’s now-closed cryptocurrency project as its new legal chief, the company said Thursday. Stuart Levey until June served as the CEO of the Diem Association, Meta Platform’s cryptocurrency project, also formerly known as Libra. Mr. Levey joined the Diem Association in August 2020 after working at HSBC Holdings PLC for more than eight years, including serving as the bank’s chief legal officer and managing more than 900 lawyers. Between 2004 and 2011, Mr. Levey served as the U.S. Treasury Department’s undersecretary for terrorism and financial intelligence, one of the agency’s top officials in charge of imposing sanctions and combating illicit finance. Representatives for Oracle declined to make Mr. Levey available for an interview.

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