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SummaryLaw Firms FTX founder allegedly misappropriated customer funds for European acquisitionFTX failed to find a buyer for the company in bankruptcy saleNEW YORK, July 13 (Reuters) - Bankrupt crypto exchange FTX sued insiders at FTX Europe AG late Wednesday, seeking to recover $323 million that FTX had invested in an ill-fated expansion into European crypto markets. After FTX filed for bankruptcy in November, it sought to sell FTX Europe, only to conclude that no buyer would offer meaningful value for the company, according to FTX. FTX acquired Digital Assets for nearly $400 million in three transactions in 2020 and 2021, hoping to obtain regulatory approvals and expand into European markets. FTX filed for bankruptcy protection in November, saying it was unable to completely repay customers who had deposited funds on its exchange. Prosecutors have charged Bankman-Fried, 31, with stealing billions of dollars in FTX customer funds to cover losses at its affiliated hedge fund Alameda Research.

Persons: FTX, Sam Bankman, Patrick Gruhn, Robin Matzke, Brandon Williams, Cosima Capital, Williams, Fried, Gruhn, Steven Holley, Stephen Ehrenberg, Brian Glueckstein, Christopher Dunne of Sullivan, Cromwell, Read, Clinton, Dietrich Knauth Organizations: FTX, AG, DA AG, Assets, Matzke, Gruhn, Prosecutors, Alameda Research, Trading, Bankruptcy, District of, Cromwell LLP, Thomson Locations: Zurich, Switzerland, Europe, Delaware, Matzke, Oregon, Alameda, U.S, District of Delaware

CompaniesLaw Firms Ripple Labs Inc FollowCoinbase Global Inc FollowJuly 13 (Reuters) - Ripple Labs Inc did not violate federal securities law by selling its XRP token on public exchanges, a U.S. judge ruled on Thursday, a landmark legal victory for the cryptocurrency industry that sent the value of XRP soaring. An SEC spokesperson said the agency was pleased with part of the ruling in which the judge held that Ripple violated federal securities law by selling XRP directly to sophisticated investors. XRP sales on cryptocurrency platforms by Garlinghouse and co-founder and former CEO Chris Larsen, and other distributions including compensation to employees also did not involve securities, Torres ruled. PARTIAL WIN FOR THE SECThe SEC won a partial victory as Torres found the company's $728.9 million of XRP sales to hedge funds and other sophisticated buyers amounted to unregistered sales of securities. Both the Ripple and Coinbase cases focus on registration requirements and whether certain digital assets are securities under U.S. law.

Persons: XRP, Analisa Torres, Brad Garlinghouse, We’ve, Torres, Paul Grewal, Chris Larsen, Garlinghouse, Larsen, Gary DeWaal, Rosenman, Tom Emmer, Jody Godoy, Chris Prentice, Tom Hals, Chizu Nomiyama, Conor Humphries, Leslie Adler, David Gregorio Our Organizations: Labs, Ripple Labs, U.S, District, U.S . Securities, Exchange Commission, SEC, Twitter, Supreme, WIN FOR, Republican, Thomson Locations: U.S, XRP, Katten, New York, Wilmington , Delaware

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCrypto regulation bill revived, and new report sheds light on digital asset crime: 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, Jacqueline Burns Koven, the head of cyber threat intelligence at Chainalysis, explains the data revealed in the company's mid-year crypto crime report.

Persons: explainers, Jacqueline Burns Koven Organizations: CNBC Crypto, CNBC

LONDON, July 11 (Reuters) - Global hedge funds not specialising in crypto assets have grown skittish from recent industry turmoil and this has lead to an exit from the sector, a survey showed on Tuesday. The proportion of traditional hedge funds investing in crypto-assets has dropped to 29% this year from 37% in 2022, the report by PWC and the Alternative Investment Management Association (AIMA) said. Traditional hedge funds that avoided trading in crypto said deterrents included reputational risk, a lack of clear guidance from regulators and tax authorities and unreliable data. Hedge funds that are invested in crypto mostly use bitcoin or Ethereum. Almost half of hedge funds that were already trading crypto said they would put more money in, but that crypto only accounted for 2% of assets under management.

Persons: PWC, bitcoin, Jack Inglis, Nell Mackenzie, Elizabeth Howcroft, Dhara Ranasinghe, Alexander Smith Organizations: Global, Alternative Investment Management Association, Investors, Reuters, Thomson

☆ Buy Buy Baby stores set to shutter as Go Global's deal to save chain falls apart at eleventh hour
▼ + stars: | 2023-07-11 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +3 min

Signs stating everything is on sale at a Buy Buy Baby store in the Brooklyn borough of New York, Feb. 6, 2023. Buy Buy Baby's stores are set to disappear after a last ditch effort to save the chain and keep the business alive fell apart, CNBC has learned. Sixth Street was not unreasonable but there was a difference in opinion on valuation," he said. However, nearly three months into liquidation sales at Buy Buy Baby's 120 stores, there was very little left to bid on besides its IP, empty stores, leases and whatever inventory was left, said the source. During a hearing in federal bankruptcy court in Newark, New Jersey, on Tuesday, Judge Vincent Papalia approved the sale of Buy Buy Baby's intellectual property to Dream on Me as one of the bidder's staffers, who appeared virtually via Zoom for the hearing, was seen smoking a cigarette on screen.

Persons: Janie, Jack, Jeff Streader, Streader, Judge Vincent Papalia, aren't Organizations: CNBC, Brand, Go Global, Sixth Street Partners, Bed, Global, Industries, Sixth, Go Locations: Brooklyn, New York, New Jersey, Newark , New Jersey

Coinbase (COIN.O) and Binance.US, two of the largest crypto exchanges by market share among those operating in America, have lost ground this year. Bitstamp's global market share among exchanges operating in the U.S. has risen to about 9%. Coinbase and LMAX declined to comment on the data, while Binance.US - the American affiliate of the world's largest crypto exchange - didn't respond to a request for comment. It may not be that simple for hungry challengers to grab market share, according to market players. In years gone by, crypto exchanges could swiftly gobble up business by offering access to a swathe of coins.

Persons: Sam Bankman, FTX, Ravi Doshi, Guy Hirsch, Bobby Zagotta, Wade Guenther, Doshi, Hannah Lang, Michelle Price Organizations: U.S . Securities, Exchange Commission, SEC, LMAX, Genesis, Bitstamp, Reuters Graphics, Wilshire, Thomson, Reuters Locations: United States, America, Binance.US, U.S, Bitstamp USA, solana, Washington

☆ Standard Chartered sees upside to its 2024 bitcoin target of $100,000
▼ + stars: | 2023-07-10 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

"We previously predicted that this driver would add USD 10,000 to the bitcoin price," he added. BTC.CM= YTD mountain Bitcoin (BTC) this year Miners decide how much of the new supply of bitcoin (900 bitcoins a day) reaches the market, depending on their profitability. If they're more profitable per bitcoin mined, they can sell less while maintaining cash inflows. Miners have three sources of cash: selling bitcoin, selling equity or borrowing. Kendrick's analysis is based on estimates of cash costs per bitcoin mined, drawn from mining companies' quarterly earnings filings.

Persons: Bitcoin, Geoff Kendrick, — CNBC's Michael Bloom Organizations: Chartered, BTC, Standard Chartered, Miners

☆ BlackRock wants to launch a bitcoin ETF. Why now?
▼ + stars: | 2023-07-10 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

BlackRock's CEO talked up bitcoin last week, with the asset manager trying to launch a fund that tracks it. BlackRock is trying to become the first asset manager to launch a fund tracking the price of bitcoin. CEO Larry Fink has backed up his firm's push for the spot ETF by repeating bitcoin bulls' usual talking points, saying last week that the token is akin to "digitizing gold" and could eventually "revolutionize" finance. And the fact that BlackRock filed for its ETF off the back of that rally probably speaks to Wall Street's desire not to miss out on another potential bull run. BlackRock's spot ETF filing, and Fink's conversion from skeptic to potential savior, suggest that Wall Street is determined not to make the same mistake twice.

Persons: Larry Fink, aren't, Fink hasn't, Sam Bankman, bitcoin Organizations: BlackRock, Securities and Exchange Commission, Institutional, SEC

☆ How Singapore has become a leading force in tech innovation
▼ + stars: | 2023-07-07 | by ( Sponsor Post | Created Insider Studios With Edb Singapore | ) www.businessinsider.com time to read: +8 min

Over 13 years ago, AvePoint, a SaaS solutions provider based in New Jersey, recognized the potential of Southeast Asia and found its entry point in Singapore. "While Singapore is a very small country, the country's focus on talent development and productivity results in it leading the forefront of innovation with a strong tech ecosystem for talent and corporate success," he said. In Singapore, ServiceNow was able to access a unique business partnership with Singapore Airlines, the world's most-awarded airline and one of the region's largest customers, developing a system called SQNow, which streamlines and manages IT workflows. "Being successful in Singapore is often a gateway into other markets around Southeast Asia," Nehammer added. Why Singapore's brand continues to thriveSingapore's ascent as a global tech powerhouse is anchored on the pillars of innovation, business networks, and robust tech infrastructure.

Persons: Tianyi Jiang, ServiceNow, it's, Jiang, Nehammer, AvePoint Organizations: ASEAN, Association of Southeast Asian Nations, Singapore government's Smart, Smart, Singapore, Singapore Airlines, NCS, Tech, Monetary Authority of Singapore, MAS, Higher, Insider Studios, Singapore Economic Development Board Locations: Singapore, New Jersey, Southeast Asia, Asia, Rhode

☆ Buy Buy Baby auction is canceled, but buyers are still interested in making a bid
▼ + stars: | 2023-07-07 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +4 min

"Store Closing" signs at a Buy Buy Baby store in the Brooklyn borough of New York, on Monday, Feb. 6, 2023. While it would be unusual, Bed Bath & Beyond could still accept a bid for Buy Buy Baby early next week. The company, a little known New Jersey-based retailer and one of Buy Buy Baby's former suppliers, agreed to buy its trademark and digital assets for $15.5 million if no higher bids arise. As the auction process dragged on and Buy Buy Baby's inventory dwindled, so did its value. It is not clear what Dream on Me plans to do with Buy Buy Baby if it ends up the ultimate victor.

Persons: that's, Janie, Jack, Overstock.com Organizations: CNBC, Industries, Beyond's, Bed, Ankura Capital Advisors Locations: Brooklyn, New York, New Jersey

☆ More than $120 million of a crypto firm's assets were moved to an unknown address - weeks after its CEO disappeared, report says
▼ + stars: | 2023-07-07 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +2 min

More than $120 million of a crypto firm's assets were "abnormally" moved to an unknown address, Bloomberg reported. "The lockup assets on the Multichain MPC address have been moved to an unknown address abnormally. "More than 120M assets were transferred from Multichain: Fantom Bridge and Multichain: Moonriver Bridge and are now distributed across 6 addresses. In a separate event, Binance, the world's largest crypto exchange, experienced a $100 million worth crypto hack last October after an exploit on a cross-chain bridge. Crypto investing clearly has its risks and drawbacks, but there are upsides to digital assets including potentially hefty returns.

Persons: —, Multichain, –, Zhaojun, Bitcoin Organizations: Bloomberg, Service, MPC, Twitter, ICE, BlackRock Locations: Multichain, Fantom, Moonriver

☆ Central bankers lay out digital currency cyber threat
▼ + stars: | 2023-07-07 | by ( Marc Jones | ) www.reuters.com time to read: +2 min

LONDON, July 7 (Reuters) - The central bankers' central bank, the Bank for International Settlements (BIS), has laid out a seven-point plan designed to help countries prevent cyber hacks on the new wave of digital national currencies under development. The BIS acts as an umbrella body for the U.S. Federal Reserve, European Central Bank, Bank of England and other central banks around the world and has been co-ordinating a lot of work on CBDC development. Hackers have struck a number of central banks in recent years from Denmark to Bangladesh. Specifically, it calls on central banks to:• Recognise the complexity and new threat landscape brought by CBDC systems. It also called for central banks to use the global "MITRE ATT&CK" database of past cyber attacks, and for an "official extension" of the MITRE ATT&CK framework to help central banks beef up their security measures.

Persons: MITRE, Marc Jones, Susan Fenton Organizations: Bank for International Settlements, BIS, U.S . Federal Reserve, European Central Bank, Bank of England, Polaris, Thomson Locations: Denmark, Bangladesh

☆ Justin Bieber's Bored Ape NFT was valued at $1.3 million in 2022—now it's only worth around $60,000
▼ + stars: | 2023-07-07 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +3 min

But today, prices for Bored Ape Yacht Club NFTs, one of the most popular collections, has crashed to a two-year low. Take one Bored Ape NFT owned by Justin Bieber, for example: It has declined in value by about 95% over the past year and a half. In January 2022, the Grammy award-winning music artist entered the world of NFTs by allegedly dropping 500 ETH (around $1.3 million at the time) on Bored Ape #3001, an NFT belonging to Yuga Labs' Bored Ape Yacht Club (BAYC) collection. But as of July 2023, Bieber's Bored Ape is only worth around $59,000, according to Bitcoinist. Basketball star Stephen Curry purchased Bored Ape #7990 for 55 ETH (nearly $180,000 at the time) on Aug. 28, 2021.

Persons: Justin Bieber, Stephen Curry, Madonna, It's, Bieber, Curry, DappRadar's, Warren Buffett Organizations: Labs, ETH, Los Angeles Times Locations: That's

☆ Some investors are shunning Wall Street’s tech frenzy
▼ + stars: | 2023-07-07 | by ( Krystal Hur | ) edition.cnn.com time to read: +5 min

CNN —While many on Wall Street have chased the monster rally in mega-cap tech stocks this year, exchange-traded fund (ETF) investors seem to be bucking the “all-in on tech stocks” trend and opting for a more diversified strategy. The Nasdaq Composite index has climbed about 31% for the year, powered by a handful of tech stocks that have soared on hype surrounding artificial intelligence. The Vanguard Information Technology Index Fund saw $955 million of net outflows in the first half of 2023 compared to $291 million net inflows in the first half of last year. Investors had piled into tech-focused ETFs last year when the sector had fallen out of favor, betting that tech stocks would recover, buoyed by an economy that remains resilient despite the Federal Reserve’s punishing pace of interest rate hikes. Now, investors are exiting these ETFs and reallocating their cash to quality stocks with strong balance sheets that can withstand a potential economic downturn, says Todd Rosenbluth, head of research at VettaFi.

Persons: Todd Rosenbluth, ”, Shelby McFaddin, Larry Fink, Bitcoin, ” Fink, Antoni Trenchev, Charles Schwab, Clare Duffy, paring, Elon Musk, it’s, Read Organizations: CNN Business, Bell, CNN, Vanguard Information Technology, Investors, “, Wealth, BlackRock, Fox Business, Federal Reserve, Fidelity Digital Assets, Citadel Securities, Facebook, Twitter, Meta

☆ Law firm Paul Hastings extends hiring streak with Goodwin partner pair
▼ + stars: | 2023-07-06 | by ( Chinekwu Osakwe | Thomson Reuters | Chinekwu Osakwe Covers Legal Industry News With A Focus On Midsize Law Firms. Reach Her At Chinekwu.Osakwe Thomsonreuters.Com. | ) www.reuters.com time to read: +2 min

(Reuters) - U.S. law firm Paul Hastings said Thursday that it has hired two partners from rival Goodwin Procter as practice leaders in New York and Washington, D.C.Seo Salimi is departing Goodwin after more than eight years to co-lead Paul Hastings' equity capital markets and corporate life sciences practices in New York. His clients have included Karuna Therapeutics, CRISPR Therapeutics, Goldman Sachs and J.P. Morgan Securities, according to his former profile on Goodwin's website. Salimi is joining Paul Hastings along with Sean Donahue, who will chair the firm's public company advisory practice group and co-chair its shareholder activism and takeover defense group. The Los Angeles-founded firm has hired at least 24 partners globally since January. Read more:Law firm Goodwin taps new Silicon Valley-based chairPaul Hastings team takes Latin America-focused deal practice to Baker McKenzieOur Standards: The Thomson Reuters Trust Principles.

Persons: Paul Hastings, Goodwin Procter, Seo Salimi, Goodwin, Salimi, Goldman Sachs, J.P, Sean Donahue, Donahue, Dana Syracuse, Perkins Coie, Kenneth Deutsch, Latham & Watkins, Baker McKenzie Organizations: Reuters, . Securities, Exchange Commission, Karuna Therapeutics, CRISPR Therapeutics, Morgan Securities, Washington , D.C, of Corporation Finance, Latham &, Latin, Thomson Locations: New York, Washington, Washington ,, SEC's, Los Angeles, Boston, Latin America

☆ FTX customers who lost all their money when the exchange collapsed should blame the SEC, Mark Cuban says
▼ + stars: | 2023-07-05 | by ( Zinya Salfiti | ) www.businessinsider.com time to read: +2 min

FTX customers who lost all their money when the exchange collapsed should blame the Securities and Exchange Commission, according to Mark Cuban. "Of course they chose to litigate to regulate," Cuban said. FTX filed for bankruptcy in November after a bombshell report sparked a run on its deposits, with its collapse wiping out billions of dollars worth of customers' money. "When FTX crashed, no one in FTX Japan lost money," Cuban wrote. "If the USA/SEC had followed their example by setting clear regulations that required the separation of customer and business funds and clear wallet requirements, no one here would have lost money on FTX," he added.

Persons: Mark Cuban, Cuban, —, FTX, Sam Bankman Organizations: Securities and Exchange Commission, SEC, Service, Dallas Mavericks Locations: Japan, FTX Japan, USA

☆ These are the best stocks to own in the second half, according to Rosenblatt Securities
▼ + stars: | 2023-07-05 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

Rosenblatt Securities is looking toward the second half of the year for investors. Our price target of $200 is supported by a mid-20s P/E on earnings power of over $6.00," the note said. NVDA AMD YTD mountain Both AMD and Nvidia have benefited from the explosion in artificial intelligence so far this year. In media and entertainment, Lions Gate Entertainment class B stock made the Rosenblatt list with a $17 per share price target. Rosenblatt is also eyeing broadband company Harmonic , with a $22 per share price target that implies about 35% upside.

Persons: Rosenblatt, Rosenblatt's Michael Kiernan, Barton Crockett Organizations: Securities, AMD, Nvidia, Galaxy, Toronto Stock Exchange, Lions, Entertainment

☆ Nasdaq refiles BlackRock's bitcoin ETF application with SEC
▼ + stars: | 2023-07-03 | by ( ) www.reuters.com time to read: +2 min

July 3 (Reuters) - Nasdaq (NDAQ.O) refiled an application with the U.S. securities regulator to list an exchange-traded fund by BlackRock Inc (BLK.N) that will reflect the price of bitcoin to add additional details, according to a filing made public on Monday. The move comes after the regulator reportedly had concerns over the initial filings by Nasdaq as being unclear and incomplete. According to Cboe's Fidelity bitcoin ETF filing, the company's platform represented roughly half of U.S. dollar-bitcoin trading in May. The SEC has rejected dozens of spot bitcoin ETF applications in recent years, including one from Fidelity in January 2022. Reporting by Jaiveer Singh Shekhawat in Bengaluru and John Mcrank in New York; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

Persons: Sam Bankman, Coinbase, Jaiveer Singh, John Mcrank, Shailesh Organizations: Nasdaq, BlackRock Inc, U.S . Securities, Exchange Commission, SEC, Global Inc, Fidelity, ., Thomson Locations: Manhattan, Bengaluru, New York

Cboe on Friday refilled an application with the U.S. Securities and Exchange Commission (SEC) to launch a bitcoin exchange-traded fund by asset manager Fidelity. In that filing it named Coinbase as the crypto platform that would help the exchange police manipulation in the ETF. The SEC had also raised the same concerns with Nasdaq (NDAQ.O) over a similar recent filing for a spot bitcoin ETF from BlackRock (BLK.N), the person said. The SEC has rejected dozens of spot bitcoin ETF applications in recent years, saying they did not meet the standards designed to prevent fraudulent and manipulative practices and protect investors. Bitcoin , the world's largest cryptocurrency, jumped to a more than one-year high last month after BlackRock (BLK.N) and Fidelity filed to launch bitcoin ETFs.

Persons: Cboe, Bitcoin, Coinbase, Chibuike Oguh, Michelle Price, Conor Humphries Organizations: YORK, U.S . Securities, Exchange Commission, SEC, Fidelity, Reuters, Nasdaq, BlackRock, Thomson Locations: U.S, BlackRock, New York

☆ 3 strategies to make TikTok and YouTube videos go viral, according to a creator with over 6 billion views
▼ + stars: | 2023-07-03 | by ( Marta Biino | ) www.businessinsider.com time to read: +5 min

He's built a formula to make short-form videos go viral after working with other creators for years. This as-told-to essay is based on a conversation with Brandon Baum, a short-form content creator. One of my YouTube videos, "Turning Statues into Food," has almost 750 million views. After six years of creating short-form video content, here are my top-three tips to make videos that go viral. One creator that does this well in his short-form videos is MrBeast.

Persons: Brandon Baum, He's, Woody, Kleiny, I'd, we'd, you've, Guy Organizations: YouTube, Facebook, Sky, Adidas, Pixar Locations: TikTok

☆ Crypto is trying to fix its custody problem as institutions pour in and regulatory uncertainty lingers
▼ + stars: | 2023-06-29 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +8 min

And the highly regulated institutions wanting to give their clients access to bitcoin are still a little skeptical that the crypto industry has learned its lessons. Another issue is there aren't enough dedicated custodians in the crypto industry. The Go Network acts as a platform on which partner firms can execute and settle trades between crypto assets and fiat currencies. BitGo handles custody of crypto assets while dollars are spread across a network of banks for safekeeping. "[The crypto industry] was operating on the edge, saying, it's risky, but we're making a lot of money.

Persons: Crypto, Bitcoin, Roger Bayston, Franklin Templeton's, FTX, Schwab, Gustavo Schwenkler, It's, David Wells, haven't, it's, BitGo, Mike Belshe, CNBC's, Wells, Belshe, BlackRock's Joseph Chalom, Franklin Templeton's Bayston Organizations: Crypto, New York City, Arrows, Terraform, Securities and Exchange, Fidelity, Citadel, EDX, Valley Bank, First, Leavey School of Business, Santa Clara University, Nasdaq, Bank of New York Mellon, CNBC, Go, Markets, Schwab, BlackRock, Securities, Exchange, Coinbase Locations: Coinbase State, New York, First Republic, PacWest, Wells

☆ Overstock's CEO explains why the surprise decision to rename the brand after bankrupt Bed Bath & Beyond is actually a brilliant move
▼ + stars: | 2023-06-29 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +4 min

Overstock.com acquired Bed Bath & Beyond's brand and digital assets for $21.5 million. CEO Jonathan Johnson said the 20-year-old Overstock brand was overdue for an overhaul. Bed Bath & Beyond's Canadian website has already been refreshed with the names of both brands. The Bed Bath & Beyond brand we think will be such a brand." Johnson said the additional Bed Bath & Beyond shoppers — who accounted for more than $1 billion in sales last year — will triple Overstock's existing customer base.

Persons: Overstock.com, Jonathan Johnson, —, Johnson, Neil Saunders, Overstock, Saunders Organizations: Service, Beyond's, Bed, —

☆ Overstock.com shares spike 20% after company announces Bed Bath & Beyond website rebrand
▼ + stars: | 2023-06-29 | by ( Yuheng Zhan | ) www.cnbc.com time to read: +2 min

Bed Bath & Beyond maintains strong brand awareness, Johnson said, despite mismanagement and eventual bankruptcy. "We'll do this transition slowly where the Overstock customer will come to the new website and will recognize it, but so will the Bed Bath & Beyond customer. "One thing that Bed Bath & Beyond customers will realize is that our non-coupon price is really good. The new Bed Bath & Beyond website is set to be relaunched in Canada within the next week, with a subsequent rollout of a website, mobile app and loyalty program in the U.S. expected in the coming weeks. Overstock shares are up almost 60% so far this year.

Persons: rocketed, Jonathan Johnson, Johnson, CNBC's Locations: Canada, U.S

☆ Factbox: Financial firms line up spot bitcoin exchange-traded fund applications
▼ + stars: | 2023-06-28 | by ( ) www.reuters.com time to read: +4 min

Stock picker Cathy Wood's Ark Invest and Swiss-based exchange-traded fund (ETF) issuer 21Shares on Wednesday amended their bitcoin ETF application, while asset manager Fidelity is also expected to file a spot bitcoin ETF application, trade publication The Block reported on Tuesday. The U.S. Securities and Exchange Commission (SEC) has rejected dozens of applications for spot bitcoin ETFs, saying the proposals have not met anti-fraud and investor protection standards. These are the major firms with live SEC applications:BLACKROCK(BLK.N) - The world's biggest asset manager filed for a bitcoin ETF on June 15. INVESCO(IVZ.N) AND GALAXY DIGITAL - Invesco reactivated its September 2021 application to launch the Invesco Galaxy Bitcoin ETF on Cboe's BZX exchange. VANECK - VanEck refiled on June 22 to for approval to launch the VanEck Bitcoin Trust on Cboe's BZX exchange.

Persons: Cathy, 21Shares, BlackRock's, BNY, Cboe BZX, WisdomTree, refiled, John McCrank, Michelle Price, Daniel Wallis Organizations: U.S, Invest, Fidelity, U.S . Securities, Exchange Commission, SEC, BLACKROCK, Nasdaq, BNY Mellon, Ark, 21Shares, Company, U.S . Bank, National Association, Invesco, Galaxy, NYSE Arca, Valkyrie, Thomson Locations: BlackRock, Swiss

Overstock.com is going all in on failed retailer Bed Bath & Beyond. It will relaunch the Bed Bath & Beyond website in Canada within the next week, followed by a rollout of a website, mobile app and loyalty program in the U.S. "weeks later." "Bed Bath & Beyond is an iconic consumer brand, well-known in the home retail marketplace," Overstock CEO Jonathan Johnson said in a statement. Overstock will not acquire any brick-and-mortar Bed Bath stores as part of the deal. A number of bidders have expressed interest in Buy Buy Baby's stores but it remains unclear if any will be bought and kept open.

Persons: Overstock, Jonathan Johnson Organizations: United Parcel Service, Bed Locations: Salt Lake City , Utah, Overstock.com, Canada, U.S

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