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☆ Former SEC chief Jay Clayton breaks down approval of spot ether ETF applications
▼ + stars: | 2024-05-24 | 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 EmailFormer SEC chief Jay Clayton breaks down approval of spot ether ETF applicationsJay Clayton, former SEC chairman, joins 'Squawk Box' to discuss the SEC's decision to approve spot Ether ETF applications, what's different about this round of the ETF applications, and if the SEC's news is related in any way to the crypto bill passed in the House of Representatives.

Persons: Jay Clayton Organizations: Former SEC, SEC

☆ Ethereum ETF deadline approaches tonight
▼ + stars: | 2024-05-23 | 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 EmailEthereum ETF deadline approaches tonightCNBC's Bob Pisani joins Halftime Report with the latest on SEC's decision on Ethereum ETF.

Persons: Bob Pisani

☆ A key ether ETF deadline arrives, but SEC's Gensler won't tip his hand on approval or denial
▼ + stars: | 2024-05-23 | by ( Bob Pisani | ) www.cnbc.com time to read: +4 min

Circuit ruled against the SEC's denial of spot bitcoin ETFs, the regulatory agency "pivoted" and approved those funds in January. The bill sets up a regulatory framework for crypto assets. Gensler said crypto assets — and exchanges in particular exchanges — do not meet this test: "This field is not decentralized. He said crypto exchanges are "operating in ways that are conflicted in ways that traditional exchanges [are not]. Gensler says he is not against financial innovation The SEC chairman pushed back against the claim he was against financial innovation.

Persons: Gary Gensler, Eric Pan, Gensler, Joe Biden's, Pan, We'd Organizations: SEC, U.S . Securities, Exchange Commission, Investment Company, ICI Leadership Summit, U.S ., Appeals, Representatives, Innovation, Technology, Century, Futures

The SEC has approved a rule change Thursday that would pave the way for ETFs that buy and hold ether , one of the world's largest cryptocurrencies. The decision comes less than six months after the Securities and Exchange Commission approved bitcoin ETFs. Many of the companies that sponsor bitcoin ETFs — including BlackRock, Bitwise and Galaxy Digital — have also started the process of the launching an ether fund. Specifically, the SEC's order approves applications from various exchanges to list eight different ether funds. Ether ETFs are expected to be smaller, at least initially, than their bitcoin counterparts.

Persons: FactSet, Richard Kerr, Kerr, Ethereum, Steven Lubka, Swan, Lubka Organizations: SEC, Securities and Exchange Commission, Galaxy, Swan Locations: BlackRock, Bitwise, U.S

☆ SEC approves spot Ether ETFs
▼ + stars: | 2024-05-23 | 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 EmailSEC approves spot Ether ETFsCNBC's Contessa Brewer joins 'Fast Money' with breaking news on the SEC's decision on Ether ETFs.

Persons: Contessa Brewer Organizations: SEC

CNBC reached out to the SEC about the recent batch of Wells notices sent to crypto firms, and an agency spokesperson declined to comment. Exchanges, both centralized and decentralized, would be forced to choose between registering with the SEC, or delisting ether altogether. watch nowBoth Consensys and Uniswap suggest the SEC's broad approach to classifying securities may be outdated. "The SEC is arguing that the Uniswap protocol is an unregistered securities exchange, and that the Uniswap interface and wallet are both unregistered broker brokers," Ammori said. Uniswap argues in its response to the SEC that the majority of its trading volume is obvious nonsecurities, like ether, bitcoin and stablecoins.

Persons: Marvin Ammori, “ Ammori, Wells, Consensys, overreach, Joseph Lubin, Lubin, “, —, Christopher Gerold, Laura Brookover, Brookover, ethereum, Bill Hinman, Hinman, Patrick McHenry, Gary, Crypto, haven't, Uniswap, Ammori, there's, Alma Angotti, Guidehouse, Coinbase, We've, Christina Rea, We're, CNBC's Jordan Smith Organizations: Securities and Exchange Commission, Uniswap, SEC, Ethereum Foundation, CNBC, Security, New, New Jersey Bureau of Securities, Consensys, Securities, Exchange Commission's, of Corporation Finance, Rep, Robinhood Locations: U.S, Lubin, New Jersey, ethereum, R

☆ Here's why DeFi platforms using Ethereum are facing SEC scrutiny
▼ + stars: | 2024-05-20 | by ( Kaan Oguz | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHere's why DeFi platforms using Ethereum are facing SEC scrutinyCrypto World takes a look at the SEC's recent actions against decentralized finance platforms and Ethereum as it prepares to issue a decision on spot ether ETF proposals.

Organizations: SEC

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGrayscale CEO Michael Sonnenshein steps down, replaced by Goldman exec: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Crypto World takes a look at the SEC's recent actions against decentralized finance platforms and Ethereum as it prepares to issue a decision on spot ether ETF proposals.

Persons: Michael Sonnenshein, explainers Organizations: Goldman, CNBC Crypto, CNBC

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin rises above $65,000 after CPI report shows inflation easing in April: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Rob Hadick, general partner at the crypto venture firm Dragonfly, weighs in on what to expect related to the SEC's upcoming expected decision on spot ether ETFs.

Persons: explainers, Rob Hadick Organizations: CNBC Crypto, CNBC

☆ Robinhood climbs after reporting record earnings for first quarter
▼ + stars: | 2024-05-08 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

Shares of Robinhood rose in extended trading Wednesday afternoon after the retail brokerage announced stronger-than-expected first-quarter results. Robinhood reported net income of $157 million, or 18 cents per share, for the first quarter. Cryptocurrency transactions accounted for $126 million in revenue in the quarter, the company said. Robinhood said that its number of funded customers rose by 810,000 year over year to 23.9 million. Shares of Robinhood were up nearly 40% year to date before Wednesday's earnings announcement.

Persons: Robinhood, Dan Gallagher, Robinhood's Organizations: LSEG, Securities and Exchange Commission

☆ SEC Chair Gensler on crypto regulation: Right now investors aren't getting the required disclosures
▼ + stars: | 2024-05-07 | 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 EmailSEC Chair Gensler on crypto regulation: Right now investors aren't getting the required disclosuresSEC Chair Gary Gensler joins 'Squawk Box' to discuss the agency's oversight of the crypto market, the SEC's Wells notice to Robinhood Crypto, Consensys lawsuit against the SEC, why the agency charged Trump Media auditor with 'massive fraud', and more.

Persons: Gensler, aren't, Gary Gensler, Wells, Robinhood Crypto Organizations: SEC, Trump Media

☆ SEC Chair Gary Gensler dodges Trump Media campaign finance questions
▼ + stars: | 2024-05-07 | 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 EmailSEC Chair Gary Gensler dodges Trump Media campaign finance questionsSEC Chair Gary Gensler joins 'Squawk Box' to discuss the agency's oversight of the crypto market, the SEC's Wells notice to Robinhood Crypto, Consensys lawsuit against the SEC, why the agency charged Trump Media auditor with 'massive fraud', and more.

Persons: Gary Gensler dodges, Gary Gensler, Wells, Robinhood Crypto Organizations: SEC, Gary Gensler dodges Trump Media, Trump Media

☆ Trump Media stock tumbles as the SEC charges its auditor with 'massive fraud'
▼ + stars: | 2024-05-03 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

Trump Media's stock price dropped on Friday after its auditor was accused of "massive fraud." The auditor BF Borgers did not comply with common accounting standards, the SEC said. BF Borgers CPA PC, which audited the financials of Trump Media, had "deliberate and systemic failures to comply" with public company accounting standards, the regulatory agency said. BF Borgers settled the SEC charges by paying a $12 million penalty, while Borgers, the owner, paid a separate $2 million penalty. "Trump Media looks forward to working with auditing partners in accordance with today's SEC order," a spokesperson for TMTG said.

Persons: BF, —, Benjamin Borgers, BF Borgers, Borgers, Ben Borgers, Gurbir Grewal, TMTG Organizations: Trump, SEC, Service, Trump Media, Securities and Exchange Commission Locations: SEC's

☆ Trump Media's auditor charged with 'massive fraud' by SEC
▼ + stars: | 2024-05-03 | by ( Geoff Weiss | ) www.businessinsider.com time to read: +3 min

Trump Media's auditor, BF Borgers, committed fraud in 1,500 filings, the SEC said. "Trump Media looks forward to working with new auditing partners," a spokesperson said. AdvertisementThe Securities and Exchange Commission on Friday charged accounting firm BF Borgers and its owner, Benjamin Borgers, with "massive fraud." "Trump Media looks forward to working with new auditing partners in accordance with today's SEC order," a TMTG spokesperson told Business Insider. AdvertisementDespite losing money and being cagey about how its user base compares to its social media rivals, Trump Media is now valued at over $6.3 billion.

Persons: Trump, BF Borgers, —, Benjamin Borgers, Donald Trump's, Borgers, BF, Grewal Organizations: BF, SEC, Trump Media, Service, Securities, Exchange Commission, Trump Media & Technology, Bloomberg, Public Company, American Institute of Certified Public Accountants, Business, Truth

☆ A Trump SEC would aim to reverse climate disclosure rule, ratchet up ESG fights, sources say
▼ + stars: | 2024-05-02 | by ( Brian Schwartz | ) www.cnbc.com time to read: +2 min

An initial target of the SEC under a second Trump administration would be to roll back the new climate disclosure rules, these people explained. Gensler and the SEC adopted a rule in March requiring large publicly traded companies to disclose their levels of greenhouse gas emissions. Gensler argues greenhouse gas emission levels and other climate related data have a material impact on businesses, and investors deserve to know this information. But an SEC chaired by a Trump appointed Republican would likely remove these Biden-era disclosure requirements, these people said. The prospect of a Trump pullback on the SEC's climate disclosure rules is also tied to the former president's dislike of environmental, social and governance investment standards, some of these people explained.

Persons: Donald Trump, Gary Gensler, Trump, Joe Biden, Gensler, Biden Organizations: The Securities, Exchange Commission, SEC, Trump, Republican, CNBC Locations: Freeland , Michigan, U.S

☆ Supreme Court rejects Elon Musk over agreement with SEC to vet social media posts
▼ + stars: | 2024-04-29 | by ( Lawrence Hurley | ) www.cnbc.com time to read: +2 min

He has long been an impulsive user of Twitter, now renamed X. Musk acquired the social media company in 2022. As part of that agreement, he signed off on the social media provision. His lawyers say in court papers that the SEC has waged an "ongoing campaign" against Musk. The provision "restricts Mr. Musk's speech even when truthful and accurate. The SEC responded in court papers that Musk had waived his right to bringing his argument when he signed off on the settlement.

Persons: Elon Musk, Tesla, Porte, WASHINGTON —, Elon Musk's, Musk Organizations: Twitter, Viva Technology, Porte de, WASHINGTON, Securities and Exchange Commission, New, Circuit, Appeals, SEC, Tesla Locations: Paris, France, New York

☆ A 'buy bitcoin' sign flashed behind Janet Yellen during a 2017 hearing just sold for $1 million
▼ + stars: | 2024-04-25 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +2 min

A"Buy Bitcoin" sign held up behind Janet Yellen during a 2017 testimony just sold for over $1 million. Christian Langalis, a then-22-year-old intern who held the sign, decided to sell it to fund his crypto startup. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementA sign with "Buy Bitcoin" written in all caps on cheap yellow legal pad that was held up behind Janet Yellen during a 2017 congressional hearing was just sold at auction for over $1 million. According to Bloomberg on Thursday, the "Buy Bitcoin" sign held by an intern during then-Federal Reserve Chair Janet Yellen's 2017 Congressional testimony went for $1.027 million at auction.

Persons: Janet Yellen, Christian Langalis, Bitcoin, —, Janet Yellen's, Yellen, CoinDesk Organizations: Service, Bloomberg, Federal, Libertarian, Cato Institute, Financial Services Locations: City

☆ Bitcoin halving is likely this week — here's what you need to know
▼ + stars: | 2024-04-17 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +27 min

And that's, that's the whole idea of it. Tom ChittySo if I go and buy bitcoin, the bitcoin I buy is fresh bitcoin that's been mined, not someone who's selling bitcoin is that right? Arjun KharpalThe likelihood is if you buy bitcoin, if we go on an exchange and buy bitcoin, we're selling bitcoin that's in existence already. And so what they say is, well, with the halving, you know, bitcoin will not be devalued. That's that's really what so many of the enthusiasts and proponents love about it.

Persons: Bitcoin, Tom Chitty, Arjun, we'll, Ethereum, Arjun Kharpal Paris, Kharpal, we've, Arjun Kharpal, Tom Chitty 13,777B, that's, what's, they're, bitcoin, there's, That's, It's, you've, Richard Tang, Richard Teng, I'm, he's, Arjun Kharpal That's, Tom, it's, Tom Chitty That's, I've, Arjun Kharpal It's, they've, Binance, Arjun Kharpal Binance, Changpeng Zhao, cryptocurrency, Jan van Eck, Jean, Marie Mognetti, van Eck, Jan Van Eck, Cathy, Gary Gensler, let's, Tom Chitty Let's, Tom Chitty Oh, There's, Tom Chitty Memecoins, Arjun Kharpal They're, we'd, David Hunt, David, Tom Chitty Poor David, Paris, Tom Chitty We'll Organizations: CNBC, Eurostar, U.S ., Paris, Department of Justice, U.S, CZ, DOJ, SEC, Mr, Gamestop Locations: beyondthevalley@cnbc.com, Paris, CNBC.com, bitcoin, U.S, Abu Dhabi, Binance, Chicago, Pennsylvania, Elmira , New York, NYC , New York City, Syracuse, Elmira, it's

☆ Regulators want to know more about how Morgan Stanley vets wealthy clients, like a sanctioned billionaire: WSJ
▼ + stars: | 2024-04-12 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +4 min

More federal regulators are probing Morgan Stanley to find out how it vets wealthy clients, per The Wall Street Journal. One client includes a Russian-linked billionaire who was sanctioned by the UK, the Journal reported. AdvertisementMore federal regulators, including the Securities and Exchange Commission, are looking into how Morgan Stanley vets its wealthy clients and their sources of money, The Wall Street Journal reported on Thursday. One such client includes a Russian-linked billionaire who has been sanctioned by the UK, the Journal reported. A spokesperson for Morgan Stanley did not immediately respond to a request for comment.

Persons: Morgan Stanley, —, James Gorman, Morgan, Morgan Stanley's Organizations: Street, SEC, Service, Securities and Exchange Commission, Caribbean ., Treasury Department, Federal Reserve, Bloomberg, Regulators, Foreign, Journal, Deutsche Bank, Reuters Locations: Caribbean

PARIS — Issuers of spot bitcoin exchange-traded funds cast doubt over the short-term likelihood of the U.S. Securities and Exchange Commission approving such a product for the cryptocurrency ether . The regulator has a late-May deadline to conclude its review on an ether ETF. That comes after the SEC in March delayed its original deadline for a decision on the ether ETF application. Enthusiasm has been mounting among the crypto community for an ether ETF, ever since the SEC approved the first spot bitcoin ETFs in January. This complicates matters for an ether ETF.

Persons: Cathy Wood, Jan Van Eck, CNBC's Arjun Kharpal, Van Eck, Gary Gensler, Jean, Marie Mognetti, CoinShares Organizations: PARIS, U.S . Securities, Exchange Commission, SEC, Fidelity, Ark, Paris, Invest, CNBC Locations: BlackRock, U.S, Paris, France

☆ Terraform Labs and founder Do Kwon found liable in U.S. civil fraud trial
▼ + stars: | 2024-04-05 | by ( ) www.cnbc.com time to read: +2 min

A police officer escorts Terraform Labs co-founder Do Kwon after he served a sentence for document forgery in Podgorica, Montenegro, March 23, 2024. A jury in Manhattan found Singapore-based Terraform Labs and its founder Do Kwon liable on civil fraud charges on Friday, agreeing with the U.S. Securities and Exchange Commission that they misled investors before their stablecoin's 2022 collapse shocked cryptocurrency markets. The regulator is seeking civil financial penalties and orders barring Kwon and Terraform from the securities industry. Kwon, who was arrested in Montenegro in March 2023, did not attend the trial, which began March 25. Kwon designed TerraUSD and Luna, a more traditional token that fluctuated in value but was closely linked to TerraUSD.

Persons: Kwon, Terraform's blockchain, Laura Meehan, Meehan, Louis Pellegrino, Luna Organizations: Terraform Labs, Labs, U.S . Securities, Exchange Commission, SEC Locations: Podgorica, Montenegro, Manhattan, Singapore, South Korea

☆ SEC Chair Gary Gensler signals that disclosure will be a key issue in the year ahead
▼ + stars: | 2024-04-02 | by ( Bob Pisani | ) www.cnbc.com time to read: +6 min

The event allows the SEC to get its main messages across, and this year a key issue is "disclosure." Besides Gensler, all the SEC division heads and senior staff will be speaking. and then monitors Corporate America (investment advisers, investment companies, broker-dealers, etc.) This is all governed by the Investment Company Act of 1940 and the Investment Advisers Act of 1940. There's a division of investment management that monitors all the investment companies (that includes mutual funds, money market funds, closed-end funds, and ETFs) and investment advisers.

Persons: Gary Gensler, Drew Angerer, Gensler, There's, We'll Organizations: . Securities, Exchange, Capitol, SEC, Securities and Exchange Commission, Practicing Law Institute, Gensler, Securities, Investment, America, Corporate America, Mutual Locations: Washington ,, United States, There's, U.S

☆ Crypto investors are bracing for a busy quarter with the Bitcoin halving, ether ETF updates and potential rate cuts
▼ + stars: | 2024-03-30 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +6 min

The most important driver in second quarter for bitcoin and crypto, however, could be the Federal Reserve decision on interest rate cuts. Traders are now pricing in a roughly 61% chance of a first Fed rate cut taking place in June, according to the CME FedWatch Tool . Demand has increased from 40,000 bitcoin at the start of the year to 213,000 bitcoin currently, largely driven by ETF buying ahead of the late April Bitcoin halving, according to CryptoQuant. However, the SEC's decision on whether or not to allow spot ether ETFs to trade, due in May, will "very likely" be market moving, he added. "If it's not priced in today, then it very likely will be a market moving event if it happens," he said.

Persons: Bitcoin, Zach Pandl, Pandl, –, bitcoin, Julio Moreno, Chris Kuiper, — CNBC's Ganesh Rao Organizations: Securities and Exchange Commission, Federal, Metrics, Fidelity Digital Assets, CNBC, Fidelity, SEC Locations: U.S, BlackRock

The Securities and Exchange Commission scored a major win in its lawsuit against Coinbase on Wednesday, as a judge ruled that its claim that the cryptocurrency exchange engaged in unregistered sales of securities could be heard by a jury at trial. Coinbase shares fell around 2% on news of the ruling in Manhattan federal court rejecting its bid to dismiss the SEC's complaint. The regulator first filed suit against Coinbase in June, alleging the company was acting as an unregistered broker and exchange. "The Court finds that the SEC adequately alleges that Coinbase, through its Staking Program, engaged in the unregistered offer and sale of securities," Failla wrote. In June, SEC Chair Gary Gensler said that trading platforms like Coinbase "call themselves exchanges" but were "commingling a number of functions."

Persons: Coinbase, Katherine Polk Failla, Failla, Paul Grewal, Grewal, Gary Gensler, Gensler Organizations: The Securities, Exchange Commission, Coinbase, SEC, New York Stock Exchange, CNBC Locations: Manhattan, U.S

☆ Companies Are Luring Investors by Exaggerating What Their AI Can Do
▼ + stars: | 2024-03-27 | by ( Emily Stewart | ) www.businessinsider.com time to read: +8 min

The Securities and Exchange Commission's chair, Gary Gensler, recently warned about "AI washing," or companies giving off a false impression that they're using AI so they can amp up investors. And while some companies are simply exaggerating the tech they do legitimately use, others have taken it a step further. Most companies aren't being accused of breaking the law with their AI chatter, but they're definitely posturing around it. An analysis from Goldman Sachs found that 36% of S&P 500 companies mentioned AI in their fourth-quarter earnings calls, a record high. Even the Big Tech companies that are really moving and shaking in AI are on shifty ground at times.

Persons: Gary Gensler, Delphia, Goldman Sachs, Scott Kessler, Elon Musk, Adolf Hitler, it's, ChatGPT, Daron Acemoglu, Sam Altman, Ed Zitron, he's, It's, overselling, Angelo Zino, Microsoft's, Zino, Acemoglu, Emily Stewart Organizations: Securities, Exchange, SEC, Woodstock, Third, MIT, Prosperity, Nvidia, AMD, Broadcom, CFRA Research, Big Tech, Tech, Microsoft, Business Locations: San Jose , California

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