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On June 13, the U.S. Securities and Exchange Commission sued Coinbase, the second-largest crypto exchange by volume, according to CoinMarketCap.com. The federal regulator alleges Coinbase operated its crypto asset trading platform as an unregistered national securities exchange and broker, per the June 13 press release. The SEC also alleges at least 13 crypto assets that Coinbase made available to customers, including Solana and Cardano's tokens, qualify as "crypto asset securities," according to the complaint. This comes just one day after the SEC sued Binance, the world's largest crypto exchange, and its billionaire founder, Changpeng Zhao. Trading crypto on an exchange versus peer-to-peer
Persons: Coinbase, Coinbase's, Brian Armstrong, Paul Grewal, we'll, Binance, Changpeng Zhao, Zhao, Gary Gensler, Chen Arad, they've, Arad, Omid, Malekan, wasn't, Bitcoin, There's, bitcoin Organizations: The U.S, U.S . Securities, Exchange Commission, SEC, CNBC, Twitter, Solidus Labs, NBC, Columbia Business School, Architecting, Money, U.S, Commodity, Futures, Metrics Locations: Paris, France, The, Solana, U.S, Arad
Coinbase CEO Says He’ll Challenge the SEC for ‘Clarity’ on CryptoCoinbase CEO Brian Armstrong is in a battle with regulators after the SEC sued his company Tuesday. He sat down with The Wall Street Journal to discuss the situation, saying he is hoping the lawsuit will bring more clarity to the industry. Photo: Breanna Denney/The Wall Street Journal
Persons: Crypto, Brian Armstrong, Breanna Denney Organizations: SEC, Wall, Street
The corrections RNZ added to the stories indicated the editing had changed the original stories to present pro-Russian interpretations of some events in Ukraine as fact. The broadcaster said Friday that it had become aware of the issue without providing further specifics and started an "immediate investigation". The story was edited on RNZ's website to read that in 2014 "a pro-Russian elected government was toppled during Ukraine's violent Maidan colour revolution". The piece then inaccurately claimed that "Russia annexed Crimea after a referendum, as the new pro-Western government suppressed ethnic Russians in eastern and southern Ukraine". Reporting by Lucy Craymer Editing by Rachel Armstrong and Frances KerryOur Standards: The Thomson Reuters Trust Principles.
Persons: RNZ, Willie Jackson, Paul Thompson, Viktor Yanukovich, , Lucy Craymer, Rachel Armstrong, Frances Kerry Organizations: Radio New Zealand, Reuters, BBC, New, European Union, United Nations, United Nations Human Rights, Thomson Locations: Ukraine, Russia, Crimea, Moscow, Ukraine’s, Russian
I-95 Partially Collapses in Philadelphia After Vehicle Fire
  + stars: | 2023-06-11 | by ( ) www.wsj.com   time to read: 1 min
Coinbase CEO Says He’ll Challenge the SEC for ‘Clarity’ on CryptoCoinbase CEO Brian Armstrong is in a battle with regulators after the SEC sued his company Tuesday. He sat down with The Wall Street Journal to discuss the situation, saying he is hoping the lawsuit will bring more clarity to the industry. Photo: Breanna Denney/The Wall Street Journal
Persons: Crypto, Brian Armstrong, Breanna Denney Organizations: SEC, Wall, Street
Coinbase CEO Says He’ll Challenge the SEC for ‘Clarity’ on CryptoCoinbase CEO Brian Armstrong is in a battle with regulators after the SEC sued his company Tuesday. He sat down with The Wall Street Journal to discuss the situation, saying he is hoping the lawsuit will bring more clarity to the industry. Photo: Breanna Denney/The Wall Street Journal
Persons: Crypto, Brian Armstrong, Breanna Denney Organizations: SEC, Wall, Street
Three Killed in Russian Drone Attack on Ukrainian City of Odesa
  + stars: | 2023-06-10 | by ( ) www.wsj.com   time to read: 1 min
Coinbase CEO Says He’ll Challenge the SEC for ‘Clarity’ on CryptoCoinbase CEO Brian Armstrong is in a battle with regulators after the SEC sued his company Tuesday. He sat down with The Wall Street Journal to discuss the situation, saying he is hoping the lawsuit will bring more clarity to the industry. Photo: Breanna Denney/The Wall Street Journal
Persons: Crypto, Brian Armstrong, Breanna Denney Organizations: SEC, Wall, Street
SEC Crypto Action Leaves Stablecoins in Limbo
  + stars: | 2023-06-09 | by ( Telis Demos | ) www.wsj.com   time to read: 1 min
Coinbase CEO Brian Armstrong is in a battle with regulators after the SEC sued his company. He sat down with The Wall Street Journal to discuss the situation, saying he is hoping the lawsuit will bring more clarity to the industry. Photo: Breanna Denney/The Wall Street JournalThe Securities and Exchange Commission has taken on two of the biggest players in crypto in the past week, along the way laying out arguments for how exchanges and many digital tokens should be regulated. But there is a key part of the crypto market it still seemingly hasn’t addressed head-on: stablecoins.
Persons: Brian Armstrong, Breanna Denney Organizations: SEC, Wall, Street, Securities, Exchange Commission
Morning Bid: O Canada! Markets wary of Fed hawkish surprise
  + stars: | 2023-06-08 | by ( ) www.reuters.com   time to read: +2 min
A look at the day ahead in European and global markets from Ankur BanerjeeAnother day, another surprise hike. Broader consensus is that the Fed will do at least one more hike. The CME FedWatch tool showed the probability of the Fed hiking by 25 bps next week is 36%, it was 22% a day earlier. With a light data calendar and futures pointing to a mixed open in Europe, markets could drift on Thursday. Economists expect the Federal Reserve to pause on its tightening cycle on its June 13-14 meeting as price pressures soften and as its key rate rises above inflation for the first time since mid-2020.
Persons: Ankur Banerjee, Ryan Cohen, Coinbase, Brian Armstrong, Gary Gensler, Christopher Cushing Organizations: Ankur, Reserve Bank, Bank of, U.S . Federal Reserve, Reuters, U.S, GameStop, U.S . Securities, Exchange, Federal Reserve, Reuters Graphics Reuters, Thomson Locations: Asia, Japan, Europe, Singapore
Crypto is 'radioactive waste' for institutional investors, Shark Tank's Kevin O'Leary said. Following the SEC's crackdown on Binance and Coinbase, O'Leary said the industry won't see any growth until things get resolved. Following the back-to-back regulatory crackdowns on Binance and then Coinbase by the SEC this week, O'Leary thinks the crypto industry won't see any capital gains until things get resolved. SEC Chair Gary Gensler is 'razor-clear' on what he wants, which is to make bitcoin a security and regulate where it's traded like on a broker dealer exchange, O'Leary said. You could open the spigots, you could really make this industry take off and own it domestically.
Persons: Crypto, Shark, Kevin O'Leary, Coinbase, O'Leary, , I've, they've, Binance, Changpeng Zhao, Gary Gensler, Brian Armstrong, I'd, we've Organizations: Service, SEC, Fox Business, Binance, CZ
"If this goes poorly, it could be an existential issue for Coinbase," Jeff Blockinger, chief counsel at decentralized finance platform Vertex Protocol, told Insider. Sources told Insider they expect Coinbase to fight extremely hard against the suit, which essentially says its whole US operation is illegal. "This is an all-out assault, particularly in regards to Binance, but it is a broader assault on the industry. A deal just means 'the casino can stay open'From Smith's point of view, the real existential matter isn't the SEC's lawsuit but rather the nature of the market itself. "If the SEC and Coinbase cut some sort of deal, that just means the casino can stay open."
Persons: , Changpeng Zhao, Zhao —, Binance, Zhao, Jeff Blockinger, it's, Brian Armstrong, he's, Coinbase, Gensler, Sam Bankman, Richard Smith, Ron Geffner, Goldberg, Geffner, There's, Smith Organizations: Coinbase, Service, Securities, Exchange Commission, Binance, SEC, Commodities Futures Trading Commission, Bloomberg, The Foundation Locations: Cayman Islands, Alameda, SEC's
New York CNN —Coinbase CEO Brian Armstrong is confident his battle with federal regulators will benefit the crypto industry, no matter how the judge rules. “Regardless of the outcome of the case, it’s a step towards clarity.”The Securities and Exchange Commission dealt another blow to the crypto industry on Tuesday by suing Coinbase, America’s largest crypto exchange. The SEC alleges Coinbase made billions of dollars facilitating the sale of crypto assets as an unregistered exchange, robbing investors of key protections along the way. ‘Icy reception’Armstrong questioned the timing of SEC Chairman Gary Gensler’s decision to file a lawsuit against his company just 24 hours after the agency accused Binance, the world’s largest crypto exchange, of mishandling customer funds. “They allowed us to become a public company,” Armstrong said.
Persons: Brian Armstrong, isn’t, ” Armstrong, Coinbase, Armstrong, , Gary Gensler’s, Binance, “ He’s, Gensler, , I’ve, , ‘ I’m, ’ ” Armstrong, , Gurbir Grewal, ” Coinbase, San, Coinbase wouldn’t, We’re, Adam Levitin Organizations: New, New York CNN, CNN, Securities, Exchange Commission, SEC, Enforcement, , SEC —, Georgetown Law Locations: New York, Washington, SEC’s, “ Europe, Singapore, Hong Kong, San Francisco
June 8 (Reuters) - The chair of the U.S. Securities and Exchange Commission (SEC) on Thursday strongly rebutted criticism that the agency is trying to crush the crypto industry, and said many companies in the space had made a "calculated economic decision" to flout its rules. That means most crypto exchanges have to comply with the securities laws too, he added. "They may have made a calculated economic decision to take the risk of enforcement as the cost of doing business." The crypto industry has attacked Gensler in recent days after the SEC sued two of the world's largest crypto exchanges, Coinbase (COIN.O) and Binance, for allegedly breaking securities laws by failing to register their operations with the agency. The SEC alleged Coinbase traded at least 13 crypto assets that are securities, while it accused Binance of offering 12 cryptocurrency coins without registering them.
Persons: Piper Sandler, Gary Gensler, Gensler, Brian Armstrong, Binance, Changpeng Zhao, Binance.US, Coinbase, Heath Tarbert, John McCrank, Hannah Lang, Susan Heavey, Manya, Michelle Price, Chizu Nomiyama, Matthew Lewis Organizations: U.S . Securities, Exchange Commission, SEC, Twitter, Coinbase, Department of Justice, U.S, Reuters, Futures Trading Commission, Manya Saini, Thomson Locations: New York, Washington, Gensler, Bengaluru
6/8/2023 12:01AMCoinbase CEO Brian Armstrong is in a battle with regulators after the SEC sued his company Tuesday. He sat down with The Wall Street Journal to discuss the situation, saying he is hoping the lawsuit will bring more clarity to the industry. Photo: Breanna Denney/The Wall Street Journal
Persons: Brian Armstrong, Breanna Denney Organizations: SEC, Wall, Street
But the Coinbase case will be the biggest test yet of the regulator's jurisdiction over the industry. To argue that crypto assets are securities, the SEC has relied on a U.S. Supreme Court case from 1946. WHAT MAKES A CRYPTO ASSET A SECURITY? In the few cases that have been decided in court, judges have agreed with the SEC that specific crypto assets are securities. The SEC has alleged in the Coinbase case that 13 different digital assets sold on the platform are securities.
Persons: Binance, Coinbase, Howey, XRP, Carol Goforth, Goforth, Brian Armstrong, Jody Godoy, Tom Hals, Nick Zieminski, Lisa Shumaker Organizations: SEC, Securities, Exchange Commission, European Union, Supreme, Ripple Labs, University of Arkansas, Twitter, Thomson Locations: U.S, Manhattan, Solana, Cardano, Florida, XRP, New York
REUTERS/David SwansonJune 7 (Reuters) - Coinbase (COIN.O) Chief Executive Brian Armstrong on Wednesday hit back at the U.S Securities and Exchange Commission (SEC) Chair over the agency's lawsuit against the crypto exchange, calling him an "outlier," while also reassuring customers that their funds were safe. Crypto companies, including Coinbase, dispute that crypto tokens are securities and have repeatedly called for the SEC to create clear rules. SETTLEMENT BREAKDOWNLast July, Coinbase disclosed an SEC probe into its asset listing processes, staking programs and yield-generating products. Grewal said despite the lawsuit, Coinbase would still be interested in a dialogue with the SEC about how to bring cryptocurrency into the regulatory perimeter. "If there were an opportunity for a real conversation, of course we would take it up, but I want to be very clear: Coinbase is absolutely committed to defending itself in court," he said.
Persons: Brian Armstrong, David Swanson, Coinbase, Armstrong, Gary Gensler, Gensler, ” Armstrong, Binance, hasn’t, haven’t, Paul Grewal, Grewal, Hannah Lang, Manya Saini, Niket, Chris Prentice, Shounak Dasgupta, Michelle Price Organizations: Milken, Global Conference, REUTERS, U.S Securities and Exchange Commission, SEC, Bloomberg, Monday, CNBC, Reuters, U.S ., Appeals, Circuit, Thomson Locations: Beverly Hills , California, U.S, Solana, Cardano, Washington, Bengaluru
[1/2] Brian Armstrong, CEO and Co-Founder of Coinbase, speaks at the 2022 Milken Institute Global Conference in Beverly Hills, California, U.S., May 2, 2022. REUTERS/David SwansonJune 7 (Reuters) - Coinbase (COIN.O) executives on Wednesday defended the company against a lawsuit brought by the U.S. securities regulator, saying the cryptocurrency sector lacks a clear set of guidelines. The agency also said Coinbase was operating as an unregistered exchange, broker and clearinghouse. Coinbase also sought to distance itself from rival exchange Binance, which was also served with an SEC lawsuit on Monday. The SEC alleged Binance, the world's largest cryptocurrency exchange and its founder Changpeng Zhao, also sold cryptocurrency products without registering them as securities.
Persons: Brian Armstrong, David Swanson, Coinbase, Binance, Changpeng Zhao, Zhao, Paul Grewal, Grewal, Hannah Lang, Manya, Shounak Dasgupta Organizations: Milken, Global Conference, REUTERS, Wednesday, U.S, Securities, Exchange Commission, SEC, CNBC, U.S ., Appeals, Circuit, Reuters, Manya Saini, Thomson Locations: Beverly Hills , California, U.S, Solana, Cardano, Cayman Islands, Washington, Bengaluru
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Persons: Dow Jones, brian, armstrong Organizations: coinbase
Thousands Evacuate After Dam Explosion Floods Southern Ukraine
  + stars: | 2023-06-07 | by ( ) www.wsj.com   time to read: 1 min
Coinbase CEO Says He’ll Challenge the SEC for ‘Clarity’ on CryptoCoinbase CEO Brian Armstrong is in a battle with regulators after the SEC sued his company Tuesday. He sat down with The Wall Street Journal to discuss the situation, saying he is hoping the lawsuit will bring more clarity to the industry. Photo: Breanna Denney/The Wall Street Journal
Persons: Crypto, Brian Armstrong, Breanna Denney Organizations: SEC, Wall, Street
Over the past few months, The New York Times has asked experts to answer the question, What would you play a friend to make them fall in love with jazz? The United States is full of cities with their own rich jazz histories, but none goes back as far as New Orleans. To really discover the beauty of New Orleans jazz, the in-person experience is key. But unless you’re about to book a trip, why not take five minutes to read and listen, and see if you get hooked? In the 100-plus years since then, New Orleans has remained something of a cultural anomaly in the United States: rooted in its own traditions, and fortified against broader commercial trends.
Persons: banjos, Joseph’s, Louis Armstrong — Organizations: New York Times, New, Mardi Locations: United States, New Orleans, Congo, Orleans
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCoinbase CEO Brian Armstrong on SEC lawsuit: We've had a long history of being transparent with themCoinbase CEO Brian Armstrong joins 'Squawk Box' to respond to the SEC's lawsuit against the company.
Persons: Brian Armstrong, We've Organizations: SEC
REUTERS/Hannah BeierLONDON, June 6 (Reuters) - Half of large multinational companies plan to reduce office space as they adjust to hybrid working patterns, although the cuts are likely to be modest as few plan to go fully remote, a survey from real estate agents Knight Frank showed on Tuesday. Knight Frank said 50% of employers with more than 50,000 staff intended to reduce office space, typically by 10% to 20% in the next three years, as they reassess their needs following the introduction of remote working during the COVID-19 pandemic. But at companies with up to 10,000 staff split across different countries, most expected to increase office space. Mat Oakley, head of commercial research at Savills said demand for office space in London had increased, and flexible working appeared less of a challenge than previously thought. "There are definitely challenges for office demand but these have been largely overstated particularly when you take into consideration employment growth," Oakley said.
Persons: Hannah Beier LONDON, Knight Frank, Tim Armstrong, Antony Antoniou, Robert Irving Burns, Mat Oakley, Savills, Oakley, Suban Abdulla, David Milliken Organizations: FMC Corporation, REUTERS, Bank of England, British, Land Securities, P, Thomson Locations: Philadelphia , Pennsylvania, U.S, Britain, Mat, London
“Look, we don’t need more digital currency,” Gensler told CNBC on Tuesday. “We already have digital currency: It’s called the US dollar. Many crypto investors appear to be abandoning so-called “alt-coins” and sticking with the relatively more reliable OG virtual currency, wrote Ed Moya, a senior market analyst with Oanda. Bottom line: “The SEC looks like it is playing Whac-A-Mole with crypto exchanges,” Moya wrote. Because of that, crypto investors will have to decide whether they are confident that the offerings on various exchanges will remain available to trade.
Persons: CNN Business ’, Binance, , Matt Levine, I’ll, Coinbase, Brian Armstrong, Gary Gensler, ” Gensler, , It’s, Crypto, TD Cowen, Reena Aggarwal, Aggarwal, bitcoin, Ed Moya, ” Moya, , you’ll Organizations: CNN Business, New York CNN, Securities and Exchange Commission, SEC, CNBC, Georgetown, Psaros, Financial Markets, Chicago Mercantile Exchange, Oanda Locations: New York, United States, , cryptos
CNN —It was an improvised scene the audience didn’t see, but Jeremy Strong freaked out the “Succession” creator with his performance in the series finale. The creator, Jesse Armstrong, appeared on a recent episode of NPR’s “Fresh Air” and was asked about Strong climbing over the railing at the river as if he may jump in during the improvised final scene of the Emmy-winning HBO series. I was terrified that he might fall in and be injured,” Armstrong said. “I did try and go in the water,” Strong said. Your job is to give the writing heart and a nerve and … all that stuff.”Strong said he “didn’t feel like (Kendall) could come back from what happens to him.”
Persons: Jeremy Strong freaked, Jesse Armstrong, , ” Armstrong, , ” Strong, Kendall Roy, CNN’s Anderson Cooper, Kendall Organizations: CNN, HBO, Warner Bros .
And the implications don't just stop there — Armstrong believes that "virtually all assets" will feel the pain. Opportunities also exist within fixed income and commoditiesWith equities taking the spotlight in the prior regime, fixed income may have slipped under the radar for many investors. But now, Armstrong believes that the way in which investors think about fixed income needs to change. "So history would tell you that now is a decent time to be allocating to high-quality fixed income." In an environment with sticky inflation, commodities would serve investors well as a good inflation hedge and portfolio diversifier.
Persons: Schroder's Bob Armstrong, Bob Armstrong, Armstrong, — Armstrong Organizations: US, outperformance, Commodities
"Keep underestimating us and we'll keep proving to the American public that we'll never give up," McCarthy told reporters after the vote. But in getting the April measure passed, House Republicans became the only body in Washington that had acted to raise the debt ceiling. "Speaker McCarthy's done an incredible job," said Representative Marjorie Taylor Greene, a member of the hardline Republican House Freedom Caucus. "This is where the honeymoon can definitely end," said Republican strategist Ron Bonjean, a one-time aide to former House Speaker Dennis Hastert. Asked this week whether he expects to keep his speakership, McCarthy told a reporter: "What do you think?
Persons: Kevin McCarthy, Joe Biden, McCarthy, Biden, we'll, Dusty Johnson, haven't, Johnson, wouldn't, Donald Trump, Trump, Republican Mitch McConnell, McConnell, Rohit Kumar, Mitch McConnell, Julia Nikhinson, Shalanda Young, McCarthy's, Marjorie Taylor Greene, Patrick McHenry, Garret Graves, Ralph Norman, Norman, that's, John Boehner, Ron Bonjean, Dennis Hastert, I'm, Kelly Armstrong, David Morgan, Steve Holland, Gram Slattery, Jason Lange, Scott Malone, Suzanne Goldenberg Organizations: U.S . House, Republican, Democratic, Democrats, White House, Reuters, Republicans, House Republicans, U.S, Capitol, REUTERS, House, Caucus, White, Thomson Locations: Washington, Washington . U.S, U.S, Washington , U.S
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