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☆ The Tesla Cybertruck might always look a little busted
▼ + stars: | 2023-08-29 | by ( Tim Levin | Nora Naughton | ) www.businessinsider.com time to read: +5 min

AdvertisementAdvertisementThe polarizing polygon known as the Tesla Cybertruck is almost here, and it will probably look far from perfect when it finally hits the road. It all means that Cybertruck buyers who have suffered through years of delays may wind up with trucks that always look a little rough around the edges. Advertisement Advertisement Watch: How Tesla's Cybertruck stacks up against the Amazon-backed Rivian R1T electric truck"This is going to be a measure of the appeal of Tesla," Fiorani said. Anyone who's owned a stainless steel fridge knows they are a magnet for grime and are a nightmare to keep clean. "Musk has learned from his past mistakes – he understands that people will scrutinize this vehicle," Fiorani said.

Persons: Elon Musk, Tesla, it's, Sam Fiorani, Fiorani, Geoff Wardle, S0kCyGUBFD — Elon, Wardle, who's, Musk, – Organizations: Tesla, BMW, Lexus, AutoForecast Solutions, California's ArtCenter College of Design Locations: Texas

☆ Crypto market bounces off recent sell-off, bitcoin rises to $26,500
▼ + stars: | 2023-08-23 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Bitcoin rose more than 2% to $26,517.09. The crypto market move higher coincided with gains in the major stock averages. "Add in summer trading volumes, and you have a recipe for day-to-day volatility. Crypto has been suffering since the spring from low liquidity and thin trading volumes, which has exacerbated moves on both the upside and the downside. "The correlation between equity indices and bitcoin has declined to near zero in 2023," said Sam Callahan, lead analyst at Swan Bitcoin.

Persons: Cryptocurrencies, Bitcoin, Ether, Cardano's, Callie Cox, Jerome Powell, Crypto, Sam Callahan Organizations: Federal, Swan Locations: Jackson Hole , Wyoming, Jackson

☆ Cargill ingredients are probably in every meal you eat. That makes the company's environmental goals a big deal.
▼ + stars: | 2023-08-21 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +6 min

Cargill, the largest private company in the US, buys from farmers and ranchers in 70 countries. Some environmental groups, including Greenpeace and Stand.earth , accuse Cargill of not doing enough on those fronts. What is Cargill doing about the climate crisis? What is Cargill doing about that? (A Cargill spokesperson added that the company also offers premium payments to soy growers in South America enrolled in a company sustainability program.

Persons: Cargill, Pilar Cruz, Burger, didn't Cargill Organizations: Service, Privacy, Cargill, Greenpeace, Stand.earth, Latina, Soil Health Institute, National Fish and Wildlife Foundation, Innovation Fund, Tropical Forest Alliance, US, Brazil —, Gran Chaco, South America Locations: South America, Southeast Asia, Cargill, North America, Germany, Romania, Poland, Southern, Brazil, West Africa, Ghana, Côte d'Ivoire, South

☆ Altcoins slide to begin the week while bitcoin and ether stabilize
▼ + stars: | 2023-08-21 | by ( Tanaya Macheel | ) www.cnbc.com time to read: 1 min

The crypto market was lower to start the week after bitcoin posted its worst week since May. Bitcoin was higher by just 0.02% at the $26,136.36, according to Coin Metrics. Last week, it lost 11% due to a sharp decline that began Wednesday afternoon. Ether was lower by 0.18% at $1,674Altcoins were making bigger moves to the downside on Monday, however. The Cosmos token lost more than 3% and Uniswap's coin was 2% lower.

Persons: bitcoin, Bitcoin, Ripple's XRP, Cardano, Chris Martin Organizations: Metrics, Solana, Polygon, Cosmos Locations: China, Asia, Hong Kong, Singapore

☆ Bitcoin falls to lowest level in nearly two months after Fed minutes dial up inflation concerns
▼ + stars: | 2023-08-17 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

A representations of virtual currency Bitcoin is seen in front of a stock graph in this illustration taken May 19, 2021. The central bank minutes from the July meeting cautioned that Fed officials see "upside risks" to inflation that could potentially lead to more rate hikes. At that meeting, Fed raised its benchmark interest rate to the highest in more than 22 years . The eventual debut of a spot bitcoin ETF, one of crypto's biggest positive catalysts, also lost some steam this week, he added. Several of the top crypto assets by market cap – including Binance's BNB coin , Ripple's XRP and the Solana and Polygon coins – were lower by more than 3% Thursday.

Persons: Fed, Bitcoin, Sylvia Jablonski, Needham's John Todaro, Ripple's XRP Organizations: Treasury, Metrics, Fed, CNBC, SEC, Solana Locations: U.S, Defiance, –

☆ Cryptocurrencies fall to begin August, bitcoin dips under $29,000
▼ + stars: | 2023-08-01 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Ether , which has joined bitcoin in recent months as a sort of large cap, blue-chip trade in crypto, was down by 1.4%, after finishing July down by 3.35%. It was under extra pressure due to a recent exploit in DeFi giant Curve, however. Whenever investors hear the word hack ... it puts the whole crypto market on the backfoot and that's what's happening here," Gilbert said. Bitcoin volumes have also dropped significantly from their recent highs and have failed to reclaim them despite the price of bitcoin showing so much resilience this year. "When bitcoin heads south so do most altcoins ... and they're selling off a little bit further given what we're seeing with Curve."

Persons: bitcoin, Josh Gilbert, Altcoins, Ripple's, XRP, Aave, We've, Gilbert Organizations: Metrics, SEC, Binance, Solana, Polygon's, Finance, ERC, Blackrock ETF Locations: DeFi, Blackrock

☆ Before suing Coinbase, SEC asked it to trade only in bitcoin -FT
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +1 min

July 31 (Reuters) - The U.S. Securities and Exchange Commission (SEC) had asked Coinbase (COIN.O) to stop trading in all cryptocurrencies except bitcoin before suing the cryptocurrency platform in June, the Financial Times reported on Monday, citing CEO Brian Armstrong. The SEC told FT that its enforcement division did not make formal requests for "companies to delist crypto assets". The regulator sued Binance in June, with both civil cases part of SEC Chair Gary Gensler's push to assert jurisdiction over the crypto industry. Gensler has labeled the crypto industry a "Wild West" that has undermined investor trust in the U.S. capital markets. The SEC and Coinbase did not immediately respond to a Reuters request for comment on the report.

Persons: Coinbase, Brian Armstrong, Armstrong, let's, Gary Gensler's, Gensler, Juby Babu, Sonia Cheema, Savio D'Souza Organizations: U.S . Securities, Exchange Commission, SEC, Financial Times, Binance, Thomson Locations: Solana, Cardano, U.S, Bengaluru

☆ Polygon's Rebecca Rettig highlights 'big demand' for platform's blockchain use case database
▼ + stars: | 2023-07-27 | by ( Talia Kaplan | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPolygon's Rebecca Rettig highlights 'big demand' for platform's blockchain use case databaseRebecca Rettig, chief legal officer at Polygon Labs, provides an update on the platform's "Value Prop" database, which lays out use cases for blockchain technology. She also weighs in on the recent Ripple XRP ruling and discusses Polygon's proposal to upgrade MATIC into a multipurpose token for all chains.

Persons: Rebecca Rettig Organizations: Polygon Labs, MATIC

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJudge imposes gag order on Sam Bankman-Fried as prosecutors allege witness tampering: 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, Rebecca Rettig, chief legal officer at Polygon Labs, provides an update on the platform's "Value Prop" database, which lays out use cases for blockchain technology.

Persons: Sam Bankman, Fried, explainers, Rebecca Rettig Organizations: CNBC Crypto, CNBC, Polygon Labs

Using phone records and a sophisticated system that maps the reach of cell towers, a team of investigators had drawn the irregular shape across a map of tree-lined streets in the Long Island suburb of Massapequa Park. By 2021, the investigators had been able to shrink the polygon so that it covered only several hundred homes. In one of those homes, the investigators believed, lived a serial killer. A decade before, 11 bodies had been found in the underbrush around Gilgo Beach, a remote stretch of sand five miles away on the South Shore. He was charged with three of the murders, to which he has pleaded not guilty, and was named as the prime suspect in the fourth.

Persons: Rex Heuermann Organizations: Shore, Penn Locations: Long, Massapequa, Gilgo, Midtown Manhattan, Penn, Manhattan, Suffolk County

In this photo illustration, a visual representation of the digital Cryptocurrency Ripple is displayed on January 30, 2018 in Paris, France. Ripple's XRP token went up 68% in the last 24 hours, leading a wider rally of major-cap altcoins, as crypto traders digest a key ruling that could stifle U.S. regulator efforts to stamp out digital asset trading. All four tokens were recently singled out as securities in the U.S. Securities and Exchange Commission's formal suits against popular crypto retail trading exchanges, including Binance and Coinbase . But the Thursday summary judgement from U.S. District Judge Analisa Torres calls that classification into question. Ripple maintained that its token is not a security — triggering ongoing confusion over which digital coins fall into which regulatory bucket.

Persons: Ripple's, Algorand's, Analisa Torres, Brad Garlinghouse, Renato Mariotti, Bryan Cave Leighton Organizations: U.S . Securities, Exchange, District, SEC, Labs, San, U.S . Southern, of New, U.S . Justice Department's Securities, Commodities Locations: Paris, France, San Francisco, U.S, of New York, Chicago

July 14 (Reuters) - Cryptocurrency companies that have resisted U.S. regulatory oversight, arguing digital assets are not securities, won a court victory this week. The SEC sued Ripple for conducting an unregistered offering of $1.3 billion in XRP between 2013 and 2020. The regulator has brought more than 100 enforcement actions against crypto companies, claiming digital assets are securities. Securities, unlike assets such as commodities, are strictly regulated and require detailed disclosures to inform investors of potential risks. Before the Ripple decision, judges in the few cases decided in court agreed with the SEC that specific crypto assets were securities.

Persons: Analisa Torres, Ripple, Torres, Coinbase, Howey, Carol Goforth, Goforth, Jody Godoy, Tom Hals, David Gregorio Our Organizations: Labs, U.S, District, U.S . Securities, Exchange Commission, The SEC, SEC, Industry, Supreme, Securities, University of Arkansas, Thomson Locations: New York, XRP, U.S, Solana, Cardano, Florida, Wilmington , Delaware

☆ Cryptocurrencies head for a winning week after sharp rally fueled by Ripple court decision
▼ + stars: | 2023-07-14 | by ( Tanaya Macheel | ) www.cnbc.com time to read: 1 min

Cryptocurrencies headed for a winning week after a court decision Thursday fueled a sharp, broad crypto market rally. Bitcoin is on pace to end the week higher by about 3%, according to Coin Metrics, and on pace to finish above $30,000. Ripple's XRP led the rally after a judge in the Southern District of New York ruled that it's a security in some cases but not others. XRP is on track to end the week with a 65% gain. The token tied to Solana is up 30.5% for the week, Cardano's ada has gained 21% and Polygon's matic token in on track to finish 25% higher.

Persons: Cryptocurrencies, Ripple's XRP, Cardano's ada Organizations: Metrics, of, Solana, Polygon's Locations: Southern, of New York

☆ What investors need to know about the crossover between A.I. and crypto
▼ + stars: | 2023-07-13 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +5 min

It's an opportunity worth watching for investors, and crypto speculators have recently been doing just that. Grayscale Investments recently highlighted three potential risks posed by AI that crypto could potentially limit – identity verification, centralization and data ownership and privacy. Accredited U.S. investors can gain direct exposure to AI-related crypto protocols by investing in private venture fundraising rounds, he added. "So far in 2023, venture capitalists have invested $422 million in crypto applications related to AI, privacy, and identity," according to Grayscale. "In total, the crypto-AI intersection represents more than 10% of total crypto venture capital (VC) funding to date, including two out of the four largest funding rounds."

Persons: —, memecoin influencer Elon Musk, Jack O'Holleran, O'Holleran, William Ogden Moore, Andreessen Horowitz, Sam Altman, Smart, We've Organizations: Nvidia, CNBC Locations: U.S, Gensyn

☆ XRP coin surges after judge delivers a huge win to Ripple in its case against the SEC
▼ + stars: | 2023-07-13 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +1 min

Ripple's XRP token surged more than 30% at one point on Thursday after a judge in the Southern District of New York ruled that it's "not necessarily a security on its face." The price of XRP was last higher by 28.90% at about 60 cents a coin, according to Coin Metrics. The news gave hope to crypto investors, who breathed a sigh of relief that other altcoins may not be considered securities either. Polygon's matic token gained 11%, while litecoin and the token tied to Solana jumped 8%, and Cardano's token advanced 7%. "Also, it will likely have an important impact on the Binance and Coinbase lawsuits."

Persons: Ripple's, XRP, Cantor Fitzgerald's Elliot Han Organizations: of, Metrics, Solana, CNBC Locations: Southern, of New York, U.S

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

"The SEC can pursue its claims only if the tokens and staking services it has identified are 'securities,'" Coinbase said. The SEC sued Coinbase on June 6, saying it made billions of dollars acting as a middleman including by trading at least 13 crypto assets, or tokens, such as Solana, Cardano and Polygon that should have been registered as securities. The lawsuit was filed one day after the SEC sued Binance, the world's largest cryptocurrency exchange, accusing it of inflating trading volumes, mishandling customer funds and lying about its operations. In a separate 177-page filing denying the SEC's substantive claims, Coinbase said it "welcomes regulation," but that the regulator was arbitrarily and without Congress' permission trying to fill the "regulatory gap" over crypto assets. The case is SEC v Coinbase Inc et al, U.S. District Court, Southern District of New York, No.

Persons: Coinbase, Binance, Gary Gensler, Jonathan Stempel, Richard Chang Organizations: YORK, U.S . Securities, Exchange Commission, SEC, Agency, Nasdaq, Coinbase, Court, Southern District of, Thomson Locations: U.S, Manhattan, Solana, Cardano, Southern District, Southern District of New York, New York

☆ Bitcoin rallies 17% this week as institutional interest in the asset picks up
▼ + stars: | 2023-06-24 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

For many crypto investors, this week felt like the beginning of a new era – and ironically, it was driven by the old guard of financial institutions. Bitcoin ended the week up 17.1% at $30,864.67, according to Coin Metrics, for its best week since March 17. At one point on Friday, bitcoin rose to as much as $31,412.72 , its highest level since June 8, 2022. BlackRock filed an application for its spot bitcoin ETF June 15, spurring a flurry of fund filings from other asset managers. In the past two weeks, bitcoin's trading volume has increased 0.5% on a week-over-week basis, according to JPMorgan.

Persons: Bitcoin, bitcoin, Polygon, Yuya Hasegawa, Invesco, Charles Schwab, CNBC's, it's, Owen Lau, Oppenheimer, Lau, Hasegawa Organizations: Solana, Securities and Exchange Commission, Nasdaq, SEC, BlackRock, Fidelity Digital Assets, Citadel Securities, JPMorgan Locations: Cardano

In each case, Coinbase filed briefs as an "amicus," or friend of the court. A ruling favoring another crypto defendant at the trial court level would not be binding on Coinbase's own case, but the company could potentially point to it in its defense, legal experts said. Coinbase argued the digital assets on its platform do not pass that test, in part because they lack contractual agreements. In its other amicus brief, Coinbase urged a federal judge in Manhattan to allow the fair notice defense in the SEC case against Ripple Labs, which was the industry's highest-profile battle with the regulator prior to the Coinbase case. Coinbase argued to U.S. District Judge Analisa Torres that denying the Ripple defendants the fair notice defense "would jeopardize the validity of the defense in future cases."

Persons: Coinbase, Gibson Dunn, Crutcher, Akiva Shapiro, Gary Gensler, Paul Grewal, Coinbase's, Cahill Gordon, Reindel, Tana Lin, Ishan Wahi, Wahi, Lin, Gensler, Analisa Torres, Torres, XRP, Jody Godoy, Tom Hals, Deepa Babington Organizations: U.S . Securities, Exchange Commission, U.S, Supreme, SEC, Reuters, FAIR, U.S . Constitution, Ripple Labs, San, District, Thomson Locations: U.S, Coinbase, Manhattan, Solana, Cardano, Seattle, U.S ., San Francisco, New York, Wilmington , Delaware

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBinance and SEC reach deal over U.S. assets, and Fidelity-backed exchange goes live: 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, Rebecca Rettig, chief policy officer of Polygon Labs, addresses the SEC's claim that the MATIC token is a security. She also explains the company's new database for blockchain use cases.

Persons: Binance, explainers, Rebecca Rettig Organizations: SEC, Fidelity, CNBC Crypto, CNBC, Polygon Labs

☆ Blockchains are ‘basic utilities’ for the digital economy, says Franklin Templeton crypto head
▼ + stars: | 2023-06-19 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Think of investing in crypto as investing in technology for the data economy. Crypto is unchartered territory for most, but the 76-year-old asset manager has dived deep into research in recent years believing digital assets will transform asset management, capital markets and the increasingly digital, data-driven world at large. "You don't expect it to end just at just Bitcoin and Ethereum , and we expect over the next several years, several things that continue to unfold and find application," Roger Bayston, Franklin Templeton's head of digital assets, told CNBC Pro at the Digital Assets Council of Financial Professionals' VISION conference in Austin, Texas. Since 2019, the firm has operated node validators on various blockchains – including Ethereum, Solana , Cardano and Polkadot . Bayston said investors who have the stomach for high volatility and uncertainty could be rewarded in the future.

Persons: Franklin Templeton, Crypto, Roger Bayston, Franklin Templeton's, Bayston, It's Organizations: CNBC Pro, Digital Assets, Financial Professionals, Government Money Market Locations: Austin , Texas, Ethereum, Solana, Cardano, U.S

☆ Bitcoin drops below $25,000, Tether's stablecoin falls under its dollar peg
▼ + stars: | 2023-06-15 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +1 min

Standard Chartered predicts that bitcoin could fall to $5,000 in 2023 as part of their research on potential market surprises next year. Cryptocurrency prices fell after the Federal Reserve's June meeting, with bitcoin falling below $25,000 for the first time since March. On Thursday, bitcoin was lower by around 4% at $24,866.92, according to Coin Metrics, while ether fell more than 5% to $1,632.47. And selling pressure weighed on Tether (USDT), which lost its peg to the U.S. dollar on most exchanges Thursday, falling to 99 cents in its biggest drop since November. "Given how thin trading volumes are at the moment, a sizable (but not massive) sell order is enough to set off liquidations."

Persons: bitcoin, Altcoins, Polygon's, Cardano's, Stocks, Michael Safai Organizations: Chartered, Federal, Metrics, U.S, Federal Reserve

Over 50 cryptocurrencies worth over $100 billion in total and making up about 10% of the overall market, are now viewed by the SEC watchdog as securities, according to CCData. Among major players, for example, solana , polygon and cardano have sunk between 23% and 32%. Bitcoin and ether weren't named in the SEC's lawsuit, nor were stablecoins such as tether and USC Coin. By contrast, bitcoin investors who have held their coins for more than five months appeared relatively calm and accounted for just 1.9% of deposit volume. Investment products tracking altcoins have seen positive - albeit small - net inflows this year, in contrast to bitcoin and ether, Coinshares data showed on Monday.

Persons: Vetle Lunde, Ryan Rasmussen, solana, Lucas Kiely, Alex Thorn, Noelle Acheson, James Butterfield, Lisa Mattackal, Medha Singh, Pravin Organizations: U.S, SEC, K33 Research, solana, Securities, Bitwise Asset Management, Reuters Global Markets, Cardano Foundation, Solana Foundation, Reuters, Polygon Labs, Reuters Graphics Reuters, USC, BTC, ETH, Firmwide Research, Galaxy Digital, Pravin Char, Thomson Locations: cardano, altcoins, Bengaluru

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPolygon falls 1.5%, and Binance.US says SEC's asset freeze would end its business: 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, Brett Quick, the head of government affairs at the Crypto Council for Innovation, weighs in on the push from crypto companies to expand overseas. She also explains what the SEC charges against crypto exchanges mean for the industry.

Persons: Binance.US, explainers, Brett Quick Organizations: CNBC Crypto, CNBC, Crypto, Innovation, SEC

☆ Crypto prices stabilize after plunging on SEC crackdown jitters
▼ + stars: | 2023-06-12 | by ( Sheila Chiang | ) www.cnbc.com time to read: +2 min

The Binance website on a laptop arranged in the Brooklyn borough of New York, US, on Wednesday, June 7, 2023. The list of digital tokens deemed as unregistered securities by the Securities and Exchange Commission now spans over $120 billion of crypto after the US agencys lawsuits against Binance Holdings Ltd. and Coinbase Global Inc. The SEC sued Coinbase and Binance last week, accusing both of selling unregistered securities, among other charges. On Tuesday, the U.S. regulator alleged that Coinbase was operating as an unregistered exchange and broker, and that 13 assets listed on its platform were considered crypto asset securities. On Monday, it also accused Binance of inflating trading volumes, diverting customer funds and misleading customers about its controls, among others.

Persons: Gabby Jones, Coinbase, Ripple's XRP, Binance's, Binance Organizations: Securities and Exchange Commission, Binance Holdings, Coinbase Global Inc, Bloomberg, Getty, U.S . Securities, Exchange Commission, SEC, Polygon's Locations: Brooklyn, New York, U.S

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