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☆ How a New York short-seller took on one of the world's richest people, wiped out $150 billion in market value, and barely made any money
▼ + stars: | 2024-07-06 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +10 min

Read previewNate Anderson, the chief mind behind activist short-seller Hindenburg Research, has had an eventful past 18 months. AdvertisementDetailed below is the considerable back-and-forth that's taken place since Hindenburg's initial shot across the bow of Adani Group. It cited "numerous examples"of those companies funneling money through private companies owned by Adani, before cash was set to Adani's listed public companies. AdvertisementThe short-seller's investigation also found Adani's private and public companies to have "numerous" undisclosed transactions with other parties, the researchers found, which violates regulatory laws in India. Conflict over Hindenburg's short-selling arrangementIndian regulators have raised specific questions about the structure of Hindenburg's short bet on Adani Group.

Persons: —, Nate Anderson, Gautam Adani, Hindenburg, it's, Anderson, Gautam, Hindenburg's, Adani, SEC —, Kingdon, who's, he's, Nikola, Carl Icahn Organizations: Service, Hindenburg, Business, Group, Adani, Adani Group, Hindenburg Research, The Securities, Exchange Board, SEC, Kingdon Capital Management, Regulators, Lordstown Motors, Icahn Enterprises, New York Times, Times, charlatans Locations: India, Manhattan, Adani, New York

3 and setting up a top-five matchup with Oregon in the Pac-12 championship game on Friday in Las Vegas. Political Cartoons View All 1265 ImagesThe last time there were two Pac-12 teams in the top five of the AP poll was 2016, when Southern California finished No. Among the top eight teams there are only four losses, one each for Oregon, Ohio State, Texas and Alabama. 5 Oregon vs. No. 3 Washington in Las Vegas, Pac-12 championship.

Persons: Stanford, Ralph D, Russo Organizations: Florida State, Associated Press, Bulldogs, Michigan, Ohio State, Buckeyes, Southern California, Washington, Alabama, Penn State, USC, Penn, Texas Tech, Oregon, Washington , Ohio State, Carolina State, SMU, Vanderbilt, Kansas State, Iowa State, SEC, ACC —, USA, Southeastern Conference, —, Big, Louisville, Atlantic Coast Conference, Oklahoma State, Tulane, American Athletic Conference, AP Locations: Washington, Oregon, Georgia, Ann Arbor, Las Vegas, Texas, . Missouri, Ohio, Michigan, Florida , Oklahoma , Texas , Alabama, Penn State , Utah, Ohio State , Texas, Alabama, Washington , Ohio, Texas . Texas, Oklahoma, Mississippi, Kansas, Tennessee, Atlanta, Iowa, Indianapolis, Florida, Charlotte , North Carolina, Arlington , Texas

Ohio State passed Michigan and moved up to No. Political Cartoons View All 1256 ImagesWashington won 22-20 on the road against Oregon State, which slipped five spots to No. POLL POINTSMichigan and Ohio State will be a matchup of top-five teams for the 13th time, the most of any rivalry. It was the fifth-longest active streak in the country behind Alabama, Georgia, Ohio State and Michigan. 2 Ohio State at No.

Persons: Jim Harbaugh, Quarterback Jordan Travis, James Madison, JMU, Ralph D, Russo Organizations: Ohio State, Associated Press, Big, Florida State, Bulldogs, Wolverines, Maryland, Buckeyes, Washington, Oregon State, Huskies, College Football, FCS North Alabama, Louisville, Ohio, Sooners, Longhorns, Nebraska, Utes, Wildcats, Clemson, Rockets, Big West, Illinois, American Conference, Tulane, American Athletic Conference, Liberty, Conference USA, Sun, Appalachian State, SEC, ACC —, USA, AP Locations: Michigan, Washington, Florida, Florida State . Georgia, Southern California, Minnesota, Oregon, Texas, Alabama, Missouri, Oklahoma, Arizona . Utah, Georgia, Ohio State, North Carolina, Toledo, Iowa

15 matches the highest ranking for a previously unranked team this deep into the season since the AP poll expanded to 25 teams in 1989. The fifth time the Rebels and Bulldogs have met as ranked teams and first time since 2016. Third straight ranked matchup in the series and sixth in the last seven years. Get alerts on the latest AP Top 25 poll throughout the season. Sign up here___Get alerts on the latest AP Top 25 poll throughout the season.

Persons: Lincoln Riley, Washington, Clay Helton, we’ve, haven’t, ” Riley, Riley, Caleb Williams, —, Greg Beacham, Ralph D, Russo Organizations: Associated Press, Oklahoma State, Bulldogs, Georgia, Michigan, Ohio State, Florida State, Penn State, USC, Washington, Oregon, Trojans, Cowboys, Oklahoma, The Cowboys, Miami, Liberty, Arizona, UCLA, Wildcats, Flames, — Air Force, Army, — UCLA, —, — Kansas State, SEC, ACC —, USA, Rebels, Washington ., Utes, Huskies, AP Locations: Southern California, Oklahoma, Georgia, Oregon , Texas , Alabama, Mississippi, Washington, Seattle, Arizona, Carolina, — Kansas, Texas, Michigan, Utah, Tennessee, Missouri, Los Angeles

10, the top five teams held their places and Kansas and Kansas State both entered The Associated Press college football poll on Sunday. 22 after one of the biggest victories in program history and Kansas State moved back in at No. Other than that, there were 17 AP polls between 1995 and ‘96 that featured both Kansas and Kansas State. In 1995, Kansas State was No. 25 Kansas State at No.

Persons: Washington, Bill Snyder, Duke, ___, Ralph D, Russo Organizations: Oklahoma, Kansas State, Associated Press, Sunday, Bulldogs, Wolverines, NCAA, Ohio State, Florida State, Oregon, The Ducks, Utah, Penn State, Big, Texas, Sunflower State, Hall of Fame, Wildcats, Jayhawks, Kansas, Coast Conference, North, Georgia Tech, Clemson, Blue Devils, Louisville, Saturday, CONFERENCE, SEC, ACC —, Washington, LSU, AP Locations: Kansas, Sunday . Georgia, Michigan, Florida, Texas, Alabama, , Kansas, North Carolina, Missouri, Georgia, Southern California

9 Alabama returned to the top 10 after falling out in mid-September, which snapped a streak of 128 top-10 appearances that dated back to 2015. The number of major upsets to Top 25 teams overall in college football this season remains minimal. IN-N-OUTIowa dropped out of the Top 25 after its second loss of the season and was replaced by No. JMU is in its second season playing in the Bowl Subdivision, the highest level of Division I, leaving the Dukes ineligible to play for the Sun Belt Conference title and a bowl game. Get alerts on the latest AP Top 25 poll throughout the season.

Persons: Nick Saban, “ That's, They've, James Madison, Duke, Tim Reynolds, Ralph D, Russo Organizations: Associated Press, Bulldogs, Southern, Wolverines, Michigan State, NCAA, Ohio State, Penn State, The Nittany Lions, Buckeyes, Florida State, Oklahoma, Alabama, Crimson Tide, Tennessee, ” Tide, Volunteers, Cavaliers, FBS, Clemson, Duke, Duke . North Carolina, Atlantic Coast Conference, Tigers, Dukes, Sun Belt Conference, James, Air Force, Tulane, American Athletic Conference . Air Force, SEC, ACC —, The Ducks, Utes, Louisville, Basketball, Cardinals, ACC, AP Locations: Georgia, Alabama, Michigan, Florida, Washington, Texas, Oregon, Washington , Oklahoma, North Carolina, Virginia, Duke . North, Miami, Sunday's, Utah

The Bulldogs received 43 first-place votes, Michigan got 16, and Ohio State and Florida State each had one. The last time Washington was ranked this highly this late in the season was 2016, when the Huskies made the College Football Playoff. Seventh straight meeting with both teams ranked. Consecutive seasons with both teams ranked for the Third Saturday in October rivalry. Third straight meeting with both teams ranked after the Utes won both last year to take the Pac-12 title.

Persons: Washington, Kalen DeBoer, hasn't, Nick Saban's, —, Duke, Ralph D, Russo Organizations: Associated Press, Huskies, Oregon, Air Force, Ohio State, Florida State, Bulldogs, Michigan, Washington, Penn State, College Football, Ducks, Texas ., Miami, Notre Dame, Irish, Wyoming, Oregon State, Beavers, Alabama, Arkansas, Crimson Tide, South, LSU, Tide, Auburn, Force, Falcons, —, Kentucky, Tulane, American Athletic Conference, Memphis, Big, Wisconsin, SEC, ACC —, Seminoles, USC, Utes, AP Locations: Georgia, Michigan, Oklahoma, Oregon, Texas, Texas . North Carolina, Southern California, South Florida . Alabama, Tennessee, Alabama, Missouri, Iowa, Washington State , Kansas , Kentucky, Miami, Florida, Utah

Miami managed to hang on to a spot in the rankings, dropping eight places after losing for the first time this season. The top six schools by appearances in the AP men’s college basketball poll are Kentucky, North Carolina, Duke, Kansas, UCLA and Louisville. Missouri lost to LSU and also slipped out after two weeks ranked. For the first time since 2005-06, the Trojans and Fighting Irish are playing with both teams ranked in consecutive seasons. For the first time since 2001, both teams are ranked, and it's the second straight home game for the Beavers hosting a ranked opponent.

Persons: Miami's, Duke, ___, Ralph D, Russo Organizations: Associated Press, Hurricanes, bloods, Auburn, Bulldogs, Michigan, Wolverines, Ohio State, Florida State, Oklahoma, Texas, Penn State, USC, Arizona, Miami, Georgia Tech, Yellow Jackets, AP, UCLA, Kentucky, Louisville, Notre Dame, Vanderbilt, Saturday, Fresno State, LSU, Washington State, UCF, SEC, ACC —, Ducks, Huskies, Trojans, Oregon State, Beavers Locations: Georgia, Kentucky, Florida, Washington, Oregon, North Carolina, Duke , Kansas, Louisville, Kansas, Missouri, Mississippi, Tennessee, Wyoming

☆ The 9 best college football towns for investing in short-term rentals
▼ + stars: | 2023-09-14 | by ( Dan Latu | ) www.businessinsider.com time to read: +2 min

Analytics site AirDNA ranked the best college football towns for investing in Airbnbs and Vrbos. It weighed competition, revenue potential, and occupancy to find the most ideal future investment. The Big 10 Conference towns dominate the top ranking with five spots, followed by the SEC with two. Analytics site AirDNA cobbled together college towns across five major conferences — SEC, ACC, Big 10, Big 12, and PAC-12 — in order to determine which places were the best for those seeking to invest in short-term rentals like Airbnbs and Vrbos. To be sure, the top-scoring towns aren't just the ones that have the highest revenue potential.

Persons: AirDNA, — Organizations: SEC, Service, ACC, Big, Washington State Cougars Locations: Airbnbs, Wall, Silicon, aren't, Washington

The Pac-12's previous high was six ranked teams, achieved multiple times including last week. After Washington State beat Wisconsin on Saturday night, Cougars coach Jake Dickert noted his school's unfortunate position. OUTFalling out along with Texas A&M were Wisconsin, which lost at Washington State, and Tulane, which lost at home to Mississippi. CONFERENCE CALLWith Tulane dropping out, there are no ranked teams from conferences outside the Power Five. RANKED vs. RANKEDNo games match ranked teams this week.

Persons: Quinn Ewers, Nick Saban, Jake Dickert, ” Dickert, —, Duke, Ralph D, Russo Organizations: Associated Press, Alabama, Georgia, Florida State, Texas, Longhorns, BCS, Crimson Tide, Power, SEC, Clemson, Atlantic Coast Conference, Penn State, USC, Southeastern Conference, Washington, Oregon State, Washington State, UCLA, Wisconsin, Cougars, ESPN, Ohio State, Notre Dame, — Clemson, Miami, Hurricanes, Aggies, Hawkeyes, Iowa State, Tulane, Tigers, Charleston Southern, ACC —, AP Locations: Michigan, Alabama, Quinn Ewers , Texas, Southern California, , Oklahoma, Utah, Oregon, Pullman, — Nebraska, — Florida, Miami, Florida, Iowa, Wisconsin, Mississippi

4 Florida State jumped into the top five after its resounding victory over LSU in Week 1's marquee game. 3 Alabama moved up a spot and Florida State climbed four places and received the remaining three first-place votes after beating LSU, 45-24. Duke capped the long Labor Day weekend of college football by knocking off Clemson 28-7 on Monday night in Durham, North Carolina. It was the Blue Devils' first victory against a team ranked in the top 10 since 1989 against a Clemson team ranked seventh. POLL POINTSHaving Florida State near the top of the AP poll is a familiar sight, just not as much recently.

Persons: Duke, Deion's Sanders, Sanders, Mike Elko, Jimbo Fisher, Mike Norvell's, Bobby Bowden, ___, Ralph D, Russo Organizations: Associated Press, Florida State, LSU, Georgia, Michigan, Seminoles, Ohio, Clemson, Duke, TCU, Buffaloes, Buffs, NFL, Penn State, Notre Dame, Devils, AP, Texas, Florida, FSU, Florida State's, Pac, SEC, ACC —, Athletic, Tulane Locations: Colorado, Alabama, Southern California, Penn State , Washington , Tennessee, Durham , North Carolina, Florida, Texas, Tuscaloosa , Alabama, Mississippi

☆ Coinbase CEO believes SEC lawsuit will benefit crypto industry
▼ + stars: | 2023-06-08 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

New York CNN —Coinbase CEO Brian Armstrong is confident his battle with federal regulators will benefit the crypto industry, no matter how the judge rules. “Regardless of the outcome of the case, it’s a step towards clarity.”The Securities and Exchange Commission dealt another blow to the crypto industry on Tuesday by suing Coinbase, America’s largest crypto exchange. The SEC alleges Coinbase made billions of dollars facilitating the sale of crypto assets as an unregistered exchange, robbing investors of key protections along the way. ‘Icy reception’Armstrong questioned the timing of SEC Chairman Gary Gensler’s decision to file a lawsuit against his company just 24 hours after the agency accused Binance, the world’s largest crypto exchange, of mishandling customer funds. “They allowed us to become a public company,” Armstrong said.

Persons: Brian Armstrong, isn’t, ” Armstrong, Coinbase, Armstrong, “, Gary Gensler’s, Binance, “ He’s, Gensler, ”, I’ve, ‘, ‘ I’m, ’ ” Armstrong, ’, Gurbir Grewal, ” Coinbase, San, Coinbase wouldn’t, We’re, Adam Levitin Organizations: New, New York CNN, CNN, Securities, Exchange Commission, SEC, Enforcement, “, SEC —, Georgetown Law Locations: New York, Washington, SEC’s, “ Europe, Singapore, Hong Kong, San Francisco

☆ Crypto crackdown: Is there anywhere safe left for crypto investors in the US?
▼ + stars: | 2023-06-06 | by ( Allison Morrow | ) edition.cnn.com time to read: +5 min

“Look, we don’t need more digital currency,” Gensler told CNBC on Tuesday. “We already have digital currency: It’s called the US dollar. Many crypto investors appear to be abandoning so-called “alt-coins” and sticking with the relatively more reliable OG virtual currency, wrote Ed Moya, a senior market analyst with Oanda. Bottom line: “The SEC looks like it is playing Whac-A-Mole with crypto exchanges,” Moya wrote. Because of that, crypto investors will have to decide whether they are confident that the offerings on various exchanges will remain available to trade.

Persons: CNN Business ’, Binance, ”, Matt Levine, I’ll, Coinbase, Brian Armstrong, Gary Gensler, ” Gensler, “, It’s, Crypto, TD Cowen, Reena Aggarwal, Aggarwal, bitcoin, Ed Moya, ” Moya, —, you’ll Organizations: CNN Business, New York CNN, Securities and Exchange Commission, SEC, CNBC, Georgetown, Psaros, Financial Markets, Chicago Mercantile Exchange, Oanda Locations: New York, United States, “, cryptos

☆ Elon Musk is reportedly being investigated by the SEC — again
▼ + stars: | 2023-01-27 | by ( Grace Kay | ) www.businessinsider.com time to read: +3 min

The SEC is investigating Elon Musk over potential ties to claims Tesla has made about its self-driving software, Bloomberg reported. It's not the first time the SEC has investigated Musk. Earlier this month, Bloomberg reported that Musk personally oversaw the development of a 2016 video that promoted the self-driving software and allegedly faked some of the software's capabilities. Musk's self-driving software has also come under increased scrutiny in recent years over its marketing of the services. The National Highway Traffic Safety Administration is investigating Autopilot and its potential connection to several accidents.

The answer is simple, according to more than a dozen Washington insiders, FTX employees, and crypto industry observers who spoke with Insider. I don't think anyone believed that he was going to fund candidates who were, quote unquote, committed to ending pandemics who were also hostile to the crypto industry." Alex Wong/Getty ImagesRebuffed by the SEC, Bankman-Fried turned his attention to Congress. "It's not that he was welcoming regulation," says the senior figure in the crypto industry who attended meetings with Bankman-Fried. But while Bankman-Fried was busy wooing Washington, FTX was about to become Exhibit A in the case for more effective oversight of the crypto industry.

☆ 'Bulldog' lawyer Thomas Lauria Lauria predicted a crypto 'liquidation boom' well before Sam Bankman-Fried's FTX filed for bankruptcy
▼ + stars: | 2022-11-11 | by ( Jack Newsham | Sindhu Sundar | ) www.businessinsider.com time to read: +14 min

Thomas Lauria runs the bankruptcy team at White & Case where clients have included Hertz and Johnson & Johnson. But Lauria told Insider that the ability of crypto companies to reorganize will depend on whether they have any real assets. Notably, when Lauria represented Hertz in its Chapter 11 case during the coronavirus pandemic, even its unsecured creditors were repaid in full. So I'm not sure that what's happening in crypto right now is really going to be a reorganization boom, but really probably more of a liquidation boom. About $10 billion of Hertz debt, when they filed, was related to financing in connection with their US fleet.

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