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☆ How to wear the runway — on your own budget
▼ + stars: | 2024-02-17 | by ( Joi-Marie Mckenzie | Jordan Parker Erb | ) www.businessinsider.com time to read: +5 min

On the agenda today:But first: How to wear the runway — on your own budget. "It's still all about simplicity," "America's Next Top Model" winner Eva Marcille told Business Insider at the Badgley Mischka runway show. And while some will pay a premium for designer fashion, others want to experiment with a dupe first. AdvertisementTens of thousands of young, high-earning professionals abandoned New York City and California during the pandemic, taking their coastal salaries to cities like St. Louis. BI headed to New York Fashion Week, where we asked attendees to name the status symbols they've been seeing and coveting.

Persons: —, Dia Dipasupil, — Beyoncé, Blake Lively, Uma Thurman, It's, Eva Marcille, YouGov, Gen Z, Connie Zhou, Kim Kardashian, Tom Brady, Tyler Le, Louis, Mary Altaffer, Louis Vuitton, Tiffany, Van Cleef, — we've, David C Tomlinson, Muhammad Ali, Stevie Nicks, Jim, Jon Stewart's, Joi, Marie McKenzie, Dan DeFrancesco, Jordan Parker Erb Organizations: Service, Getty, New York, Vegas, Fontainebleau Miami Beach, Dior, Netflix, Warner Bros, Charlotte , North Carolina —, Paramount Locations: Fontainebleau, Fontainebleau Las Vegas, Sin City, New York City, California, St, New, Dior, Beverly, Phoenix, Scottsdale, Paradise, Beverly Hills of Arizona, Paradise Valley, Charlotte , North Carolina, New York

☆ Al Capone's Miami property is on the market for $23.9 million — but the house itself is gone
▼ + stars: | 2024-02-16 | by ( Gabbi Shaw | ) www.businessinsider.com time to read: +2 min

A 30,000-square-foot lot is for sale on Miami's exclusive Palm Island for $23.9 million. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . And now the land where his final home stood on Miami's exclusive Palm Island is for sale for a cool $23.9 million. Become Legendary/Dina GoldentayerThe property, which is listed by Douglas Elliman agent Dina Goldentayer, has 100 feet of water frontage and a view of downtown Miami. According to the listing, a house up to 15,000 square feet can be built on the property.

Persons: Al Capone, —, Dina Goldentayer, Douglas, Todd Glaser, Al, Capone, Mae Coughlin, Shaquille O'Neal, Gloria Estefan, Nick Nolte, Ana Gabriel Organizations: Service, Miami Herald, Miami Beach, Herald, Bettmann, Getty Locations: Miami, Al Capone's Miami, Palm

☆ Bitwise's Matt Hougan and DACFP's Ric Edelman on the growing adoption of spot bitcoin ETFs
▼ + stars: | 2024-02-14 | by ( Bob Pisani | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitwise's Matt Hougan and DACFP's Ric Edelman on the growing adoption of spot bitcoin ETFsMatt Hougan, CIO at Bitwise Asset Management, and Ric Edelman, founder of the Digital Assets Council of Financial Professionals, join CNBC's Bob Pisani at the Exchange ETF conference in Miami Beach to discuss the growing adoption of spot bitcoin ETFs and where they fit in a diversified investment portfolio.

Persons: Matt Hougan, DACFP's Ric Edelman, Ric Edelman, Bob Pisani Organizations: Asset Management, Digital Assets, Financial Professionals, Exchange ETF Locations: Miami Beach

☆ Bitcoin, AI and Magnificent 7: The emerging ETF trends as industry gathers for big conference
▼ + stars: | 2024-02-12 | by ( Bob Pisani | ) www.cnbc.com time to read: +9 min

To grow, the ETF industry has to expand the offerings of active management and devise new ways to entice investors. The big topics in 2024: Bitcoin, AI, Magnificent 7 alternativesIn 2024, the industry is betting that the new crop of bitcoin ETFs will pull in billions. Financial advisors are divided on whether to jump inTen spot bitcoin ETFs have successfully launched. Inflows into bitcoin ETFs to date have been modest, but bitcoin ETFs are being viewed by some advisors as the first true bridge between traditional finance and the crypto community. Jason Pereira, senior partner & financial Planner, Woodgate Financial, is speaking on how financial advisors are using artificial intelligence.

Persons: Matt Hougan, Steve Kurz, David LaValle, Ric Edelman, Edelman, Gary Gensler's, bitcoin, Jason Pereira, Pereira, Roundhill's, Alex Zweber, Eric Veiel, Rowe Price, Brian Portnoy, Neil Bage, feely Organizations: ETF, LIV, Miami, Super, Advisors, JPMorgan, bitcoin, Galaxy, Edelman, Digital Assets, Financial Professionals, SEC, Apple, Microsoft, NVIDIA, China ETF Locations: Fontainebleau, Miami Beach, China, bitcoin

☆ As S&P approaches 5,000, this one trend has been unwavering
▼ + stars: | 2024-02-08 | by ( Bob Pisani | ) www.cnbc.com time to read: +3 min

It's been a bumpy road from 4,000 to 5,000, but the overall trend stays with big cap tech. Talk about timing: It launched just as the S & P 500 was recovering from the banking crisis, and MAGS has been one of the star ETF performers of the last year. A bumpy road from 4,000 to 5,000 The S & P 500 had been comfortably over 4,000 from mid-2021 into mid-2022, when rising rates pushed the broad index below 4,000. This is true not just this year, but since the S & P went over 4,000 at the end of March, as has international investing. If you own the S & P 500, which has become tech-dominant, you are happy.

Persons: It's, Dave Mazza, MAGS, Mazza, ETFEdge.cnbc.com Organizations: Exchange ETF, Technology, Microsoft, Nvidia, Apple, AMD, Communication Services, Banks, Care, Staples, Energy, Edge, Miami Beach Locations: Miami Beach, Roundhill

☆ Goldman Sachs leaders are charting a course for the bank's future in Miami for the second year in a row. Here's how the stakes are different this time.
▼ + stars: | 2024-02-07 | by ( Reed Alexander | Emmalyse Brownstein | ) www.businessinsider.com time to read: +5 min

The Miami Beach Edition hotel on Collins Avenue, where conferences for Goldman parnters are being held. Inside the Edition Hotel in Miami, which is playing host to the Goldman Sachs partner conference this week. The Faena Hotel along Collins Avenue is also playing host to some Goldman partners and events this week. A spokesperson for Goldman Sachs declined to comment about the Miami gathering this week. Are you a Goldman Sachs or Wall Street insider?

Persons: Goldman Sachs, confab, —, Goldman, Denis Coleman, Avinash, Goldman parnters, Emmalyse, David Solomon, Solomon, Lloyd Blankfein, he's, Reed Alexander Big, Solomon —, John Waldron —, Solomon himself, Emmalyse Brownstein Goldman, George Lee, Alison Mass, Trevor Noah, decamped, Reed Alexander Organizations: Magic City, Miami Beach, Business, Wall Street Journal, Goldman, Wall Street Locations: New York, London, Miami, Collins, New York City, South Florida, ralexander@businessinsider.com

☆ This Florida Mall Has Gucci, Prada … and Soon, Affordable Housing?
▼ + stars: | 2024-02-05 | by ( Patricia Mazzei | ) www.nytimes.com time to read: 1 min

In Bal Harbour, Fla., an oceanside village north of Miami Beach, a luxury mall says it wants to help tackle one of the nation’s — and Florida’s — most intractable problems: a lack of affordable housing. It is an unexpected move for a retail temple where Gucci, Chanel and Rolex are on offer. Affordable? But in a rare instance of bipartisan agreement, the Florida Legislature passed a law last spring intended to encourage projects like the one that the owner of the mall, Bal Harbour Shops, has in mind. And nowhere has seen more backlash to date than little Bal Harbour.

Persons: Chanel Organizations: Miami Beach, Rolex, Florida Legislature, ” Locations: Bal Harbour, Fla, oceanside, Miami, Florida, Bal

☆ The super-rich are buying more ultra-customized Rolls-Royces and Lamborghinis
▼ + stars: | 2024-02-03 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +10 min

Lamborghini sold more than 10,000 vehicles last year for the first time ever and Ferrari had a more than 17% increase in revenue. But customers purchasing Lamborghinis, Rolls-Royces and Bentleys have an even wider array of infinitely customizable paint colors and interior materials, to start with, than carmakers offer for less expensive brands. If the customer has a favorite shirt, for example, the car paint could be matched to the fabric color. At Dixon’s Rolls-Royce dealership three quarters of the roughly 90 cars sold each year include some degree of custom options, she said. While she and Rolls-Royce’s design team can provide guidance, in the end, the choices have to be the customer’s.

Persons: Royce, Ferrari, Lamborghini, Bentley, ”, Stephan Winkelmann, Lewis Hamilton, Altrata, Royce Cullinan, Javier Gonzalez Lastra, “, ” Gonzalez Lastra, Pietro Frigerio, Kellyn Dixon, Dixon, Bugatti Chiron, Bugatti, Chiron, Lamborghini’s Winkelmann Organizations: California CNN, Lamborghini, Ferrari, Bentley, Royce, CNN, Ferrari’s, Tema, Volkswagen, Ford, Art Basel Miami Beach, Rolls Royce, Bugatti, Bugatti Bugatti Locations: Irvine, California, Newport Beach , California, Irvine , California, Goodwood

☆ The office meltdown will result in $1 trillion of losses, real estate billionaire Barry Sternlicht says
▼ + stars: | 2024-01-30 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +1 min

Billionaire Starwood CEO Barry Sternlicht sees losses on office properties hitting $1 trillion, per Bloomberg. Office values have plummeted as remote work proves to be a lasting legacy of the pandemic. AdvertisementThe ailing office market is headed for $1 trillion of losses, billionaire and Starwood Capital CEO Barry Sternlicht said. Per Bloomberg, Sternlicht said at the Global Alts conference in Miami Beach that US office properties, once a $3 trillion market, are worth about $1.8 trillion now. The cratering values have been the result of remote work being solidified as a lasting legacy of the COVID-19 era.

Persons: Barry Sternlicht, —, Per, Sternlicht Organizations: Starwood, Bloomberg, Service, Starwood Capital, Per Bloomberg, Global, Business Locations: Miami Beach

☆ The 15 most expensive U.S. neighborhoods per square foot—No. 1 is 2,000% higher than average
▼ + stars: | 2024-01-29 | by ( Mike Winters | ) www.cnbc.com time to read: +3 min

The cost per square foot in South of Market — also known as SoMa — is $5,415. Just over 120 miles away is Northwest Auburn, California, the second-highest priced U.S. neighborhood at $4,416 per square foot. The Old Town neighborhood of the beachside California town of Carpinteria comes in third in the rankings, with a cost per square foot of $4,129. In contrast, the Homewood North neighborhood in Pittsburgh ranks last amongst the 20,000 neighborhoods examined for the study, with homes costing $29 per square foot. The rankings are based on average price per square foot data for U.S. homes using Homes.com listing data.

Persons: — Organizations: Northwest Auburn, Downtown, Port Royal, Stinson, Casa, Fisher, Hudson, downtown, Rush, Homes Locations: San Francisco, U.S, Market, Auburn , California, Carpinteria, California, Downtown Bellevue, Bellevue , Washington, Naples, Florida, Shores, Stinson Beach , California, Hibiscus Islands, Miami Beach , Florida, Newport Beach , California, Lago, Palm Beach , Florida, , New York City, Hill , New York City, Miami, downtown San Francisco, Northwest Auburn , California, Sierra Nevada, Auburn, Sacramento, Old, Homewood, Pittsburgh, Montana , South Dakota , Wyoming, North Dakota, Virginia

☆ Icon of the Seas: The world’s largest cruise ship sets sail on maiden voyage
▼ + stars: | 2024-01-27 | by ( Terry Ward | ) edition.cnn.com time to read: +12 min

CNN —There is nothing subtle about the world’s largest cruise ship. The commotion brought traffic to a halt along the causeway to Miami Beach that parallels the cruise ship channel. Icon of the Seas’ list of superlatives and firsts is longFinding time to fit in everything onboard Icon of the Seas promises to keep passengers busy. A Royal Caribbean spokesperson said Icon of the Seas is 24% more energy efficient than required for ships designed today. Royal Caribbean International is clearly pitching Icon of the Seas to a market that goes beyond cruising.

Persons: Lionel Messi, ”, Hurricane Hunter, Oz, Bryan Comer, Comer, Colleen McDaniel, McDaniels, ” McDaniels, Michael Verdure, Rob Clabbers, Q, ” Clabbers, Wagyu, Michael Bayley, ” Bayley, Jay Schneider, Royal, “, ‘, ’ ” Schneider, Terry Ward Organizations: CNN, Port, Hurricane, Storm, Royal, The International Council, Clean Transportation, Royal Caribbean International, Cruise, CNN Travel, Seas, Star, Royal Caribbean Locations: Port of Miami, Turku, Finland, Miami Beach, Argentine, Miami, Eastern Caribbean, Sedona , Arizona, Royal Caribbean, Florida’s Port Canaveral, Orlando, Chicago, Izumi, Caribbean, Vegas, Florida, Tampa

☆ Celebrities are having full-blown golf complexes built in their gardens. Here’s how they’re doing it
▼ + stars: | 2024-01-09 | by ( Jack Bantock | ) edition.cnn.com time to read: +7 min

From putting greens and par-three holes to full-blown course replicas, the sport is increasingly taking up residence in gardens and backyards as golf enthusiasts of all levels look to shorten their travel time to the tee. California in particular is especially prone to drought, with state officials encouraging its citizens to cut their water usage. Yet “the number one” factor that can hike prices for larger greens, Nappi explains, is — ironically — drainage. Though they don’t require watering, greens sculpted in areas susceptible to heavy rain — such as Florida or Georgia — invite the threat of standing water, which can lead to mold and ruin the playing experience. “You can make it look pretty and beautiful and they love it, but it better play right,” Nappi said.

Persons: Mark Wahlberg, Cindy Crawford, DJ Khaled, Josh Allen, ”, Dominic Nappi, Tim Venturi, Ken Venturi, Nappi, ” Nappi, “, Wahlberg, Los Angeles Times — Nappi, Tim Jackson —, Jackson Kahn, I’ve, “ There’s, Crawford, Rande Gerber, Allen, Jim Nantz’s, Courtney Richards, Jack Nicklaus, Arnold Palmer, Phil Mickelson, Ian Poulter, Tony Romo —, Dave Pelz’s, SYNLawn, Augusta National’s, Gareth Bale’s, —, Tiger Woods, ‘ Organizations: CNN, Back Nine Greens, Business, Nine Greens, Greens, British, Nine Greens Star, Hollywood, Los Angeles Times, Malibu, Bills, Wall Street, NASA, Welsh, Real Madrid, Tiger Locations: Southern California, Palm, California, backyards, Florida, Georgia, Beverly, Scottsdale, Buffalo, Miami Beach, American, Austin , Texas, Glamorgan, South Wales, Island, South Dakota

☆ The great wealth 'realignment': Affluent people keep moving from NY and SF to cheaper, warmer places
▼ + stars: | 2024-01-07 | by ( Zoe Rosenberg | ) www.businessinsider.com time to read: +6 min

Wealthy people are moving to states including Florida, Texas, North Carolina, and Tennessee. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Florida, Texas, and North Carolina are popular destinations for more than just the wealthy. The reshuffling of wealth is making historically cheaper states more expensiveIn Miami, in particular, this reshuffling of wealth has ushered in an era of unaffordability. "Miami and most of Southeast Florida have rebranded into more luxury markets," housing expert Jonathan Miller told BI in September.

Persons: They've, —, SmartAsset, Ken Griffin, Jeff Bezos, Alexander Tamargo, Indxx, AllianceBernstein, Charlotte, Goldman Sachs, Griffin, plunked, Jeffrey Greenberg, Jared Kushner, Ivanka Trump, Carl Icahn, Elon Musk, he's, Jonathan Miller, Bezos, Kushner, Trump, Dina Goldentayer, Dina Goldentayer Dina Goldentayer, Zillow Organizations: Service, Bloomberg, Austin, Citadel, Amazon, Allspring Global Investments, Oracle, Tesla, Dallas ., Company, Universal, Getty, Miami Locations: Florida , Texas, North Carolina, Tennessee, Miami, Florida, New York, California, Florida , Tennessee, New Jersey , Massachusetts, Dallas, Nashville, Charlotte, New York City, Texas, Miami Beach, Chicago, San Francisco, Austin, Coconut Grove, Southeast Florida

☆ Move over, pickleball: The fast-growing sport of padel is the next hot luxury-home amenity
▼ + stars: | 2023-12-21 | by ( Jordan Pandy | ) www.businessinsider.com time to read: +6 min

Padel is said to be one of the world's fastest-growing sports, with 25 million players in over 90 countries. AdvertisementThe country's fastest-growing sport, pickleball, may have some competition. A standard-sized court is 66 feet by 33 feet, bigger than a pickleball court but smaller than a doubles tennis court. And Enclave, a gated community about 35 miles from Chicago in South Barrington, Illinois, is also set to have a communal padel court. Once they got hooked on padel, he said, they started converting them to padel courts.

Persons: Padel, —, Haven't, It's, Andy Murray, David Beckham, Omar Vega, padel, Marko Gojanovic, Gojanovic, Mia, Aly, khan Merali, Turnberry, Merali, Michael DeRosa, Kelli Ide, that's Organizations: Service, CNN, The New York Times, Business Locations: Mexico, Padel, Miami's, Miami Beach, South Florida, Turnberry, North Miami, Turnberry's, Spain, York, Central, Chicago, South Barrington , Illinois, Lake, Skaneateles, Skaneateles , New York, Atlanta, Los Angeles

Bitcoin coins are seen at a stand during the Bitcoin Conference 2023, in Miami Beach, Florida, U.S., May 19, 2023. Crypto companies spent $18.96 million in the first three quarters of 2023 on lobbying, compared with $16.1 million during the same period in 2022. That was despite last year's spectacular meltdown of crypto exchange FTX, which had been a top-ten spender. Coinbase (COIN.O), the largest U.S. crypto exchange, led the pack again, spending $2.16 million, followed by Foris DAX, which operates Crypto.com, the Blockchain Association and Binance Holdings. Although those bills have yet to advance further, crypto lobbyists are not letting up.

Persons: Marco Bello, spender, FTX, Foris DAX, Kristin Smith, Sam Bankman, Fried, Coinbase, Binance, Crypto.com, Hannah Lang, Michelle Price, Matthew Lewis Organizations: REUTERS, Rights, Blockchain Association, Binance Holdings, U.S . Securities, Exchange Commission, SEC, Thomson Locations: Miami Beach , Florida, U.S, Washington, Manhattan, Binance

☆ CNBC Daily Open: The rush for gold — and bitcoin
▼ + stars: | 2023-12-05 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +2 min

Bitcoin coins are seen at a stand during the Bitcoin Conference 2023, in Miami Beach, Florida, U.S., May 19, 2023. This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Spot gold prices touched $2,100 an ounce, hitting a record high as investors rushed into the safe-haven asset. Wall Street catches a breathU.S. stocks markets slipped Monday, with investors questioning if markets climbed too fast, too soon following five straight weeks of gains.

Persons: Twilio Organizations: CNBC, Wall, Dow Jones, Nasdaq, Big Tech, Japan's Nikkei, Airlines, DoJ, Alaska Airlines, Hawaiian Airlines, Justice Department, JetBlue Airways, Spirit Airlines, Spotify, Department of Justice, Banque Pictet, Internal Revenue Service Locations: Miami Beach , Florida, U.S, Asia, Pacific, Swiss

☆ The Art Basel party circuit is kicking off in Miami. Here are 6 must-attend events for the Wall Street set.
▼ + stars: | 2023-12-05 | by ( Emmalyse Brownstein | ) www.businessinsider.com time to read: +10 min

High-brow art and millionaires tend to go hand in hand, so Art Week also means some of the world's wealthiest come out to play. Ciara attends the NYLON Presents NYLON House At Miami Art Week 2022 at Strawberry Moon at Goodtime Hotel on December 02, 2022 in Miami Beach, Florida. Regardless of the events you attend, Art Basel week is a great time to mingle and do business, explained Jasmina Midzic, Typhon's director of Investor Relations. Desperate ApeWives perform at #0XGenesis presented by Marshland, Magnus and FloodFM.com at Maps Backlot during Art Basel Miami on December 01, 2021 in Miami, Florida. Erika Goldring / Getty ImagesHere are 6 Art Basel parties the Wall Street elite and wannabes alike are vying to attend.

Persons: —, There's, galas —, Ciara, Arturo Holmes, Kim Kardashian, Serena Williams, James Koutoulas, Koutoulas, Miami's, Jasmina Midzic, she'll, who've, Magnus, FloodFM.com, Erika Goldring, It's, Midzic, Alessandra Ambrosio, Alexander Tamargo, Andreas Metaxa, Metaxa, I've, Guy Gerber, Blondish, Bella Thorne, e.l.f, Mona Lisa, Rampa, Desiree, Talon, Luciano Scalioni, — Bryan Goldberg Organizations: Miami Art, Wall, Magic City, Art, Business, Strawberry, JPMorgan, UBS, Capital Management, Investor Relations, Art Basel Miami, Art Basel, Wall Street, Fund, Party, Miami, Flex, Waterfront, Digital Locations: Miami —, Art Basel, Miami Beach , Florida, Miami, Basel, Miami , Florida, South Beach, Miami Beach, Midzic, SoHo, New York, Saxony

☆ CNBC Daily Open: All that glitters is gold — and bitcoin
▼ + stars: | 2023-12-05 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +2 min

A sign is seen on a bitcoin ATM at a stand during the Bitcoin Conference 2023, in Miami Beach, Florida, U.S., May 19, 2023. This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The world's largest cryptocurrency was lifted by hopes of approval for a bitcoin exchange-traded fund and growing bets on U.S. interest rate cuts. Wall Street catches a breathU.S. stocks markets slipped Monday, with investors questioning if markets climbed too fast, too soon following five straight weeks of gains.

Persons: Europe's, Twilio, Rick Rieder Organizations: CNBC, Wall, Dow Jones, Nasdaq, Big Tech, Airlines, DoJ, Alaska Airlines, Hawaiian Airlines, Justice Department, JetBlue Airways, Spirit Airlines, Spotify, BlackRock, Federal Reserve Locations: Miami Beach , Florida, U.S

☆ Bitcoin hits $40,000 level for the first time this year
▼ + stars: | 2023-12-03 | by ( ) www.reuters.com time to read: +1 min

Bitcoin coins are seen at a stand during the Bitcoin Conference 2023, in Miami Beach, Florida, U.S., May 19, 2023. REUTERS/Marco Bello/File photo Acquire Licensing RightsDec 3 (Reuters) - Bitcoin hit $40,085 on Sunday, its highest in almost a year and a half, fuelled by bets that U.S. regulators will soon approve stock-market traded bitcoin funds. Bitcoin was up 1.55% at 2234 GMT, adding $611 to its previous close. Bitcoin, the world's biggest and best-known cryptocurrency, is up 51.1% from the year's low of $26,533 on Oct. 11. Their downfall caused havoc in crypto markets and sparked the bankruptcy of some high-profile companies in the crypto sector.

Persons: Marco Bello, Bitcoin, Nilutpal, Lisa Shumaker Organizations: REUTERS, Thomson Locations: Miami Beach , Florida, U.S, Bitcoin, Bengaluru

☆ An Architect’s Party Palace Hits the Market in Miami Beach for $33 Million
▼ + stars: | 2023-12-01 | by ( Sarah Paynter | ) www.wsj.com time to read: 1 min

Be the first to know about the biggest and best luxury home sales and listings by signing up for our Mansion Deals email alert. On a December afternoon, architect Chad Oppenheim served drinks to about 100 guests on the stone motor court of his roughly 8,000-square-foot home in Miami Beach, Fla. Partygoers faced a 23-foot-tall covered courtyard entry, shrouded in a large curtain. Drums began to beat.

Persons: Chad Oppenheim, Partygoers Locations: Miami Beach, Fla

Bitcoin coins are seen at a stand during the Bitcoin Conference 2023, in Miami Beach, Florida, U.S., May 19, 2023. REUTERS/Marco Bello/File Photo Acquire Licensing RightsNov 29 (Reuters) - The U.S. government will cut off cryptocurrency companies from the broader U.S. economy if they fail to block and report illicit money flows, Deputy Treasury Secretary Wally Adeyemo warned the industry on Wednesday. The Biden administration on Tuesday sent a letter to Congress, requesting new legislation that would grant Treasury the authority to police crypto marketplaces used by actors the U.S. government deems illicit, Adeyemo said. Binance said in response that it had worked hard to make the platform "safer and even more secure." Reporting by Hannah Lang in Washington; Editing by Michelle PriceOur Standards: The Thomson Reuters Trust Principles.

Persons: Marco Bello, Wally Adeyemo, Adeyemo, Biden, Changpeng Zhao, Binance, Hannah Lang, Michelle Price Organizations: REUTERS, U.S, Blockchain Association, Treasury, Palestinian, Prosecutors, Islamic, Thomson Locations: Miami Beach , Florida, U.S, Israel, Gaza, al Qaeda, Islamic State, Iraq, Syria, Washington

☆ Bitcoin Group: taking steps against money-laundering, terrorist financing
▼ + stars: | 2023-11-29 | by ( ) www.reuters.com time to read: +1 min

Bitcoin coins are seen at a stand during the Bitcoin Conference 2023, in Miami Beach, Florida, U.S., May 19, 2023. REUTERS/Marco Bello/File Photo Acquire Licensing RightsBERLIN, Nov 29 (Reuters) - Germany's Bitcoin Group (ADE.DE) said on Wednesday it was taking measures to improve its internal control system, after the financial regulator BaFin ordered its subsidiary futurum bank to remedy shortcomings on money-laundering and terrorist financing. "The Bitcoin Group expressly points out that there are currently no indications of violations of money laundering and terrorist financing laws within the Group," the company said in a statement. On Tuesday, BaFin identified "severe deficits" at futurum bank involving its internal security measures, its fulfillment of due diligence obligations and its system for reporting suspicious activity. "We are actively working with BaFin to quickly address the criticized weaknesses in our internal processes, which have not kept pace with the company's growth in recent years," Bitcoin Group Chief Executive Marco Bodewein said in the statement.

Persons: Marco Bello, BaFin, Marco Bodewein, Rachel More, Madeline Chambers, Miranda Murray Organizations: REUTERS, Rights, Thomson Locations: Miami Beach , Florida, U.S, futurum

☆ With Wealth Pouring Into Miami, Neighbors List Their Homes for a Total of $150 Million
▼ + stars: | 2023-11-28 | by ( E.B. Solomont | ) www.wsj.com time to read: 1 min

A few months ago, Jorge Luis Garcia was sipping an Odette Estate Winery Cabernet with Juan Miguel Almeida and Adria Adrian Almeida, his neighbors on Palm Island in Miami Beach, Fla. Having observed a string of mega-real estate deals, Garcia had a proposition for the Almeidas, whose home is adjacent to his two waterfront properties. “We were talking about how we are sitting here on a tremendous opportunity,” said Garcia, the former owner of a medical business in Orlando. “If these houses were sold together, can you imagine that?”

Persons: Jorge Luis Garcia, Odette, Juan Miguel Almeida, Adria Adrian Almeida, Garcia, ” Organizations: Adria Locations: Miami Beach, Fla, Orlando

☆ Bausch + Lomb CEO Brent Saunders Pays $35.35 Million for Cher’s Former Miami Beach Home
▼ + stars: | 2023-11-28 | by ( E.B. Solomont | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/real-estate/luxury-homes/bausch-lomb-ceobrent-saunders-pays-35-35-million-for-chers-former-miami-beach-home-fa6d279e

Persons: Dow Jones, saunders Locations: miami

☆ In spot bitcoin ETF race, some pioneers stick to the sidelines
▼ + stars: | 2023-11-28 | by ( Suzanne Mcgee | ) www.reuters.com time to read: +6 min

The SEC has long rejected spot bitcoin ETF applications on the grounds they do meet its investor protection requirements. Industry hopes that position would shift surged in June when BlackRock (BLK.N), which has an almost unbroken record of SEC ETF approvals, filed for a spot bitcoin ETF. The only prospective issuer to disclose proposed investor fees so far is Ark Investment, which last week announced its spot bitcoin ETF would charge a fee of 0.8%. To be sure, issuers hoping to launch spot bitcoin ETFs have a more bullish outlook than those sticking to the sidelines. Magoon hopes the buzz surrounding a spot bitcoin ETF will draw more assets to Amplify's BLOK ETF.

Persons: Marco Bello, it's, Dave Mazza, Gary Gensler, Michael Sapir, ProShares, Sapir, Roxanna Islam, Aisha Hunt, Kelley, Christian Magoon, Roundhill, Mazza, Magoon, Tom Staudt, Staudt, Suzanne McGee, Michelle Price, Deepa Babington Organizations: REUTERS, Roundhill Investments, SEC, Industry, BlackRock, Ark Investment, Amplify's, Ark Investments, Thomson Locations: Miami Beach , Florida, U.S, BlackRock, Invesco, Amplify's BLOK

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