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☆ EMax crypto investors’ lawsuit against Kim Kardashian, Floyd Mayweather Jr., other celebrities dismissed
▼ + stars: | 2022-12-07 | by ( ) www.nbcnews.com time to read: +2 min

The lawsuit filed in January claims EthereumMax executives schemed with celebrity promoters to induce investors to buy the EMax token, driving up its price and allowing them to sell their own tokens at a profit. U.S. District Judge Michael Fitzgerald in Los Angeles said that the investors may amend and refile their proposed class action. In Wednesday’s ruling, Fitzgerald said that investors had failed to show that the executives and promoters schemed to mislead investors, rather than acting in their own self-interest. The investors’ fraud claims failed because they had not stated whether or when they saw the promotions, the judge wrote. While the investors may revise those claims, Fitzgerald permanently dismissed their claim under California’s consumer protection law, which he said applies to tangible goods and services, not “intangible goods” such as cryptocurrency.

☆ Federal judge dismisses crypto scam lawsuit against Kim Kardashian, Floyd Mayweather Jr.
▼ + stars: | 2022-12-07 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +4 min

A federal judge on Wednesday dismissed a proposed class action lawsuit by investors against the founders of the cryptocurrency EthereumMax, as well as celebrity endorsers including Kim Kardashian and boxer Floyd Mayweather Jr. over their promotion of the cryptocurrency on social media. Investors who bought EMAX tokens alleged they had suffered losses after taking the word of the celebrity influencers about the value of the crypto. The suit claims the defendants engaged in a conspiracy to artificially inflate the value of the EMAX tokens. "We're pleased with the court's well-reasoned decision on the case," Michael Rhodes, a lawyer for Kardashian, told CNBC. Fitzgerald in his ruling Wednesday said the EthereumMax lawsuit reflects a broader conflict surrounding celebrity and influencer promotional schemes.

☆ IRS Proposes New Rules to Police Land-Conservation Tax Deals After Court Losses
▼ + stars: | 2022-12-06 | by ( Richard Rubin | ) www.wsj.com time to read: 1 min

Senior Internal Revenue Service officials say syndicated conservation easement transactions are tax shelters that deprive the government of billions of dollars in revenue. WASHINGTON—The Internal Revenue Service moved to shore up its ability to attack aggressive land-rights tax deals after losing several court decisions. The agency on Tuesday proposed regulations that would require participants and promoters of so-called syndicated conservation easement transactions to disclose those deals to the government, with steep penalties for omissions. The move would help the IRS identify and audit the easement deals, which senior IRS officials say are tax shelters that deprive the government of billions of dollars in revenue.

☆ Some Trump Jewish Allies at Breaking Point After Kanye West, Nick Fuentes Meeting
▼ + stars: | 2022-12-04 | by ( Aaron Zitner | ) www.wsj.com time to read: 1 min

Dov Hikind has said that the image of any political leader will suffer for failing to sever ties with former President Donald Trump. Dov Hikind, a prominent Jewish leader in Brooklyn, endorsed Donald Trump for president in 2020. After Mr. Trump’s recent dinner with two prominent promoters of anti-Semitic rhetoric, Mr. Hikind said he won’t support Mr. Trump again. “It is over, it is finished,” Mr. Hikind, whose 36-year run as a state lawmaker ended in 2018, said of his support for the former president. He has disqualified himself from any of us supporting him ever again.”

☆ Fury says he may need surgery on right elbow
▼ + stars: | 2022-12-04 | by ( ) www.reuters.com time to read: +2 min

[1/2] Boxing - WBC World Heavyweight Title - Tyson Fury v Derek Chisora - Tottenham Hotspur Stadium, London, Britain - December 3, 2022 Tyson Fury celebrates after winning his fight against Derek Chisora Action Images via Reuters/Andrew CouldridgeLONDON, Dec 4 (Reuters) - WBC heavyweight world champion Tyson Fury said he might need elbow surgery, potentially delaying a unification showdown with Ukrainian rival Oleksandr Usyk early next year. The Briton told ESPN television after his 10th-round stoppage of title challenger Derek Chisora on Saturday that his right elbow was the problem. "I’ve got some hand problems and I’ve got to maybe have some surgery on my elbow but after that, I’m ready for anybody," he said. Fury taunted Usyk, who was ringside for the fight at London's Tottenham Hotspur stadium, and challenged him to get the fight on. read moreThe Briton also said he would take on his undefeated compatriot Joe Joyce, the 2016 Olympic super-heavyweight silver medallist, at Wembley if the Usyk fight could not be made.

☆ The SEC is suing real-estate mogul Kent Swig's shady crypto partner for perpetuating a 'pump-and-dump' scheme with a different gold-backed crypto currency
▼ + stars: | 2022-12-01 | by ( Alex Nicoll | Daniel Geiger | ) www.businessinsider.com time to read: +8 min

Now the SEC is suing the CEO of Swig's company for an earlier, separate gold-backed crypto scam. According to the SEC, Braverman was said to be the chief operating officer of one of two companies the regulator targeted in the complaint. When Swig's company announced Digau, cryptocurrencies were on a sugar high, with bitcoin trading above $60,000. Neither Swig nor Dignity Gold would reveal to Business Insider any of the specific site locations where the company plans to mine. To extract the gold, Swig partnered with a mining company called Apache Mill Tailings.

☆ Read the pitch deck for a startup that's aiming to disrupt film production in Hollywood with an app that's 'like fantasy football for film buffs'
▼ + stars: | 2022-11-29 | by ( Reed Alexander | ) www.businessinsider.com time to read: +6 min

Startup production company Legion M is crowdsourcing funds and promising to give movie fans greenlight power. Legion M, founded by Paul Scanlan and Jeff Annison, lets investors buy shares for as little as $40. Legion M now has four films in post-production slated to be released in 2023, the cofounders added. Legion MLegion MLegion MLegion MLegion M'A company with a built-in audience for everything it creates'One slide spells out the potential power of one million fan-investors — as consumers, promoters, and predictors of successful projects. Legion MThe Nicolas Cage film 'Mandy' was an early success for Legion MLegion MLegion MLegion MLegion MLegion M says its annual revenue has surpassed $1 millionLegion MLegion MLegion M

☆ Miami nightclub owners are struggling with slumping sales after losing top-spending crypto clientele in wake of FTX implosion and crypto downfall, report says
▼ + stars: | 2022-11-27 | by ( Bethany Biron | ) www.businessinsider.com time to read: +3 min

Miami club owners told the Financial Times business is slumping as the crypto industry takes a blow. Crypto, tech, and hedge fund leaders came to the city en masse during the pandemic. But in the wake of the FTX implosion, some of the city's top spenders have vanished. Now, with the downfall of companies like FTX, club owners and promoters aren't quite certain if big spenders will return, as the value of cryptocurrencies take a nosedive and major players like Sam Bankman-Fried hemorrhage vast amounts of their net worth. According to the FT, FTX paid $135 million to secure 19 years worth of naming rights to FTX Arena, home to the Miami Heat.

☆ A new player in the grocery software space just raised $10 million to compete in the nearly $150 billion online grocery segment. Check out the 13-page pitch deck that helped Vori secure the deal.
▼ + stars: | 2022-11-25 | by ( Alex Bitter | ) www.businessinsider.com time to read: +5 min

Vori raised a $10 million Series A for its grocery-inventory software aimed at indepedent grocers. Vori, an inventory-management startup, pitches itself as a solution for those smaller grocers — a position that just helped it raise $10 million. Vori's inventory software provides inventory services to grocers that might only have a few stores, Hill said. "Our customers have been our most active and enthusiastic investors," Hill said. Check out the 13-slide pitch deck that Vori used to raise its $10 million Series A round:

☆ Billionaire Bill Ackman says crypto 'is here to stay' in the wake of the FTX collapse, as the one-time skeptic outlines some of his investments
▼ + stars: | 2022-11-21 | by ( Carla Mozée | ) www.businessinsider.com time to read: +4 min

Billionaire investor Bill Ackman said "crypto is here to stay," in a Tweet thread published Sunday. Calling himself an initial crypto skeptic, Ackman said he is a small investor in a "hobbyist" capacity. He outlines his crypto observations following the dramatic collapse of crypto exchange FTX. "As such, I was initially a crypto skeptic, but after studying some of the more interesting crypto projects, I have come to believe that crypto can enable the formation of useful businesses and technologies that heretofore could not be created." The world's once third-largest crypto exchange founded by Sam Bankman-Friend is seeking bankruptcy protection in the US and could leave up to 1 million creditors exposed to losses.

"It is more complicated than your plain vanilla crypto exchange story," she said. FTX filed for bankruptcy on Nov. 11 and is facing scrutiny from U.S. authorities. The lawsuit filed on Tuesday did not name FTX as a defendant but instead targeted individuals. New lawsuits may also target celebrity promoters of FTX crypto products. Future investor lawsuits over the FTX meltdown are likely to allege claims beyond securities registration and consumer protection violations, plaintiffs' attorneys said.

Nov 16 (Reuters) - U.S. crypto investors sued FTX founder Sam Bankman-Fried and several celebrities who promoted his exchange including NFL quarterback Tom Brady and comedian Larry David, claiming they engaged in deceptive practices to sell FTX yield-bearing digital currency accounts. The proposed class action filed on Tuesday night in Miami alleges that FTX yield-bearing accounts were unregistered securities that were unlawfully sold in the United States. When the crypto exchange faltered on liquidity concerns, U.S. investors sustained $11 billion in damages, the lawsuit says. The lawsuit seeks damages from Bankman-Fried and 11 athletes and other celebrities who promoted FTX, including David, the creator of "Seinfeld" and "Curb Your Enthusiasm." Sean Masson, an attorney at Scott+Scott who represents crypto investors in the EMAX case, said investors have used the Florida unfair trade law to target crypto promoters in lawsuits that are pending.

Nov 16 (Reuters) - U.S. crypto investors sued FTX founder Sam Bankman-Fried and several celebrities who promoted his exchange including comedian Larry David, alleging they engaged in deceptive practices to sell FTX yield-bearing digital currency accounts. The proposed class action filed late Tuesday night in Miami alleges that FTX yield-bearing accounts were unregistered securities that were unlawfully sold in the U.S. When the crypto exchange faltered on liquidity concerns, U.S. investors sustained $11 billion in damages, the lawsuit alleges. Representatives for Bankman-Fried, Brady, Osaka and the Golden State Warriors did not immediately respond to requests for comment on Wednesday. FTX filed for bankruptcy and is facing scrutiny from U.S. authorities amid reports that $10 billion in customer assets were shifted from FTX to Bankman-Fried's trading company Alameda Research.

#TaylorSwiftTix” one fan wrote, echoing the frustration of thousands of “Swifties,” the nickname for diehard Swift fans, vying to see their favorite artist in her first concert tour since before the pandemic. Backlash against the ticketing companies has also grown: When a major artist announces a tour, fans inevitably complain on social media about Ticketmaster’s high fees and unchecked scalping. Users shared screenshots of emails from Ticketmaster that said “Your invitation to TaylorSwiftTix Presale powered by Verified Fan.” “You’ve been selected!” the email reads. As for the Swift ticket sales chaos on Tuesday, Ticketmaster urged fans on Twitter to avoid going through its homepage to get tickets. "If you received a code to the TaylorSwiftTix Presale, please login and access the queue through the link you received via text rather than entering through the Ticketmaster homepage," Ticketmaster tweeted.

☆ Check out the 15-page pitch deck that Legion M, a Hollywood production startup, is using to recruit movie fans as investors for as little as $40
▼ + stars: | 2022-11-15 | by ( Reed Alexander | ) www.businessinsider.com time to read: +6 min

☆ Tax Court Strikes Down IRS Rules on Land-Conservation Deals
▼ + stars: | 2022-11-10 | by ( Richard Rubin | ) www.wsj.com time to read: 1 min

The IRS has tried for several years to boost enforcement of conservation easements. WASHINGTON—The U.S. Tax Court struck down IRS rules requiring taxpayers and promoters to disclose certain land-rights deals to tax authorities, damaging a high-profile agency enforcement initiative. When the Internal Revenue Service and Treasury Department identified so-called syndicated conservation easements as potential tax shelters in 2016, the agencies failed to follow the formal notice-and-comment procedures required for federal regulations, the court ruled Wednesday.

☆ SEC Charges Trade Coin Club Founder, Promoters in $295 Million Bitcoin Fraud
▼ + stars: | 2022-11-04 | by ( Mengqi Sun | ) www.wsj.com time to read: +2 min

The Securities and Exchange Commission filed charges against the founder and three U.S. promoters of Trade Coin Club, alleging the crypto-trading membership club operated as a Ponzi scheme that raised 82,000 bitcoins, valued at $295 million in 2018, from investors around the world. PREVIEWThe Trade Coin Club paid withdrawals from the club with investor deposits, the SEC said. The SEC said the individuals violated federal securities laws and face charges including violations of antifraud, securities registration and broker-dealer registration provisions. The website for Trade Coin Club, which marketed itself as a membership group for trading bitcoin, is no longer accessible. The charges come after SEC Chairman Gary Gensler highlighted the agency’s regulatory initiatives in the crypto sector in a speech this week.

Jerry Lee Lewis, the rock ’n’ roll trailblazer and piano virtuoso who electrified audiences with his raucous, free-wheeling performances but attracted scandal after he married his 13-year-old cousin, died Friday, his publicist said. Jerry Lee Lewis in 1957. He is a defiant, reckless, indefatigable wild man that can rock you into oblivion,” the Rock & Roll Hall of Fame said when he was inducted in 1986. Jerry Lee Lewis with Myra Gale Brown in 1962. Jerry Lee Lewis performs in 1986.

☆ Attack on Iran shrine will not go unanswered - foreign minister
▼ + stars: | 2022-10-27 | by ( ) www.reuters.com time to read: +3 min

[1/2] A general view of the Shah Cheragh Shrine after an attack in Shiraz, Iran October 26, 2022. Iranian officials said they had arrested a gunman who carried out the attack at the Shah Cheragh shrine in the city of Shiraz. State media blamed "takfiri terrorists" - a label Tehran uses for hardline Sunni Muslim militants such as Islamic State. Interior Minister Ahmad Vahidi blamed the protests sweeping Iran for paving the ground for the Shiraz attack, and President Ebrahim Raisi said Iran would respond, according to state media. State media said he was not Iranian, but did not give his nationality.

☆ India's regulator bars Bombay Dyeing and others from securities market
▼ + stars: | 2022-10-22 | by ( ) www.reuters.com time to read: +2 min

MUMBAI, Oct 22 (Reuters) - India's Bombay Dyeing and Manufacturing Company Ltd (BDYN.NS) has been barred by the country's capital market regulator from the securities markets for two years. The Securities and Exchange Board of India (SEBI) issued a statement late Friday barring Bombay Dyeing and its "promoters" (owners) - Nusli N Wadia and his sons, Ness and Jehangir - from the securities markets for up to two years. Four companies in the Wadia Group are listed on Indian Stock Exchanges, including Bombay Dyeing. The regulator said it had conducted a detailed investigation into the affairs of Bombay Dyeing from 2011-2012 and 2018-2019. The Wadia Group has been contacted for comment.

☆ Nasdaq halts IPOs of small Chinese companies as it probes stock rallies
▼ + stars: | 2022-10-22 | by ( Echo Wang | ) www.reuters.com time to read: +5 min

The stock exchange operator's actions come amid a surge in the shares of Chinese companies that raise small amounts, typically $50 million or less, in their IPO. Nasdaq started asking the advisers of small Chinese IPO candidates questions in mid-September. Seven sources who work on IPOs of small Chinese companies spoke to Reuters on the condition that neither they nor their clients be identified. LOOPHOLESNasdaq's intervention underscores how liquidity standards it adopted in the last three years to prevent stock manipulation in small IPOs have loopholes that Chinese companies are exploiting. There have been 57 listings of small Chinese companies in the last five years, up from 17 listings in the prior five years, according to Dealogic.

☆ Protesters delay opening of Barcelona real estate fair
▼ + stars: | 2022-10-19 | by ( Nacho Doce | ) www.reuters.com time to read: +2 min

Riot police remove an activist amid a protest at The District real estate fair in Barcelona denouncing the housing crisis and evictions, in Barcelona, Spain, October 19, 2022. REUTERS/Nacho DoceBARCELONA, Oct 19 (Reuters) - Hundreds of activists delayed the opening of an international real estate fair in the northeastern Spanish city of Barcelona on Wednesday as they protested against what they called a hotbed of speculation exacerbating a widening cost of living crisis. Dozens burst into the fairgrounds, chanting slogans and preventing the opening ceremony from taking place before being removed by police. Others gathered outside the building, where they lobbed paint at some of the arriving attendees, Reuters journalists said. The activists held up a banner that read "Let's defend life, let's stop The District" and "Speculators, get out of our neighbourhoods".

☆ 'Making $10k a month is not that hard': How TikTok influencers are luring followers with deceptive promises of side-hustle riches
▼ + stars: | 2022-10-17 | by ( Eve Upton-Clark | ) www.businessinsider.com time to read: +13 min

And some of the dollar amounts passive-income influencers are touting in their posts are eye-popping. Even when the stakes are somewhat lower, passive-income influencers fail to give viewers the full picture. While this method cuts out some of the upfront costs, making money on digital products is still incredibly difficult. Making money as an entrepreneur takes hard work, skill, and a bit of luck — but that message doesn't sell as well. What does sell is the new American dream of making money in your sleep — and side-hustle promoters are more than happy to keep selling it.

☆ A new player in the grocery software startup just raised $10 million to compete in the nearly $150 billion online grocery segment. Check out the 13-page pitch deck that helped Vori secure the deal.
▼ + stars: | 2022-09-25 | by ( Alex Bitter | ) www.businessinsider.com time to read: +4 min

Vori raised a $10 million Series A for its grocery-inventory software aimed at indepedent grocers. Roughly a third of US grocery sales happen at independent grocers, but many of these grocers lack the technology of bigger players like Kroger and Walmart. Vori, an inventory-management startup, pitches itself as a solution for those smaller grocers — a position that just helped it raise $10 million. Vori's inventory software provides inventory services to grocers that might only have a few stores, Hill said. "Our customers have been our most active and enthusiastic investors," Hill said.

☆ How a rusted '60s Beetle is restored and customized
▼ + stars: | 2022-09-22 | by ( Melissa Estrada | ) www.businessinsider.com time to read: +7 min

Cate Culp: So today, we're going to be looking at Paisley, it's a 1960 Euro beetle and this car was built for our charity beetle promotion. Cate: Once it comes back from blast, we make a sort of a full list of the amount of metal work that needs to be done so any replacement panels that we need to purchase to go into metal work. So there was a bit of a bit of a process trying to work out how to engineer that. I think I bring a lot of that into the design work of the cars that we build. But at the end of the day, they're still a beetle, and they still have that same energy.

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