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Genesis is owned by Stamford, Connecticut-based venture capital company Digital Currency Group. The contagion concerns stem from Genesis' prominence in crypto, its links to troubled firms and broader reach into the financial world. "It's a signal of worse outcomes" for the crypto market, particularly since Genesis also deals with brokers, family offices and money managers. Last year, Genesis extended $130.6 billion in crypto loans and traded $116.5 billion in assets, according to its website. Crypto.com, an exchange, and Tether, which operates the world's largest stablecoin, on said Wednesday they had no exposure to Genesis.

☆ Taylor Swift public ticket sale on Friday is canceled, Ticketmaster says. But the secondary market can be 'buyer beware'
▼ + stars: | 2022-11-17 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

Kevin Mazur | Wireimage | Getty ImagesDeals for hot tickets, you're virtually not going to find one. Why concert tickets are a 'buyer beware' marketSome Taylor Swift fans who bought seemingly legitimate tickets have already discovered they were duped. Buying tickets on the "secondary market" poses an elevated risk of fraud and/or exorbitant prices for consumers, entertainment-industry experts warned. "There are almost so many [secondary sellers] that you just can't keep up," Cobb said. Of course, this isn't to say secondary sellers are grifters in all circumstances.

☆ JPMorgan expects a mild recession for 2023. That means higher unemployment and a rough holiday shopping season for Americans.
▼ + stars: | 2022-11-17 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

The FOMC still has 100 basis points more of rate hikes to go, in the bank's view. To cool down the economy, then, the Fed will likely look to tame hourly wage growth and push the unemployment rate higher, JPMorgan said. "By most measures hourly wage growth is currently running around 5%," the analysts wrote. And that sort of wage growth deceleration will likely require an unemployment rate between 4% and 5%, depending on how entrenched wage growth expectations have become." The Fed's tightening efforts, ultimately, will tip the economy into a recession, JPMorgan analysts said.

☆ Cathie Wood adds to holdings in Coinbase, other crypto stocks amid FTX fallout
▼ + stars: | 2022-11-17 | by ( Jesse Pound | ) www.cnbc.com time to read: +2 min

Cathie Wood's Ark Invest is continuing to buy the dip in crypto stocks even as the fallout from the FTX collapse is creating new stresses in the digital currency world. The Ark Innovation ETF (ARKK) bought nearly 164,000 shares of Coinbase on Wednesday, while the Ark Fintech Innovation ETF (ARKF) added about 82,000 shares of Coinbase and bought roughly 141,000 shares of Silvergate Capital . Shares of Coinbase and Silvergate have dropped roughly 32% and 47%, respectively, since the end of October. These moves follow the Ark Next Generation Internet ETF (ARKW) buying shares of the Grayscale Bitcoin Trust on Monday and Tuesday. The flagship Ark Innovation ETF is down nearly 60% for the year.

Nov 16 (Reuters) - Crypto lender Genesis Global Capital suspended customer redemptions on Wednesday, citing the sudden failure of crypto exchange FTX, while court papers showed FTX founder Sam Bankman-Fried faces legal action. After a flurry of tweets and interviews by Bankman-Fried, FTX said he "has no ongoing role" at the company and does not speak on its behalf. LEGAL ACTIONMeanwhile, U.S. court filings showed Bankman-Fried is facing legal action in the United States from investors alleging the company's yield-bearing crypto accounts violated Florida law. U.S. and Bahamian authorities were discussing the possibility of bringing Bankman-Fried to the United States for questioning, Bloomberg reported on Tuesday. Elsewhere, crypto exchange Binance said it had not contributed to FTX's collapse, in a response to a hearing on the crypto industry by a British parliamentary committee.

Nov 16 (Reuters) - Crypto lender Genesis Global Capital suspended redemptions on Wednesday citing the failure of crypto exchange FTX, while court papers showed FTX founder Sam Bankman-Fried faces legal action, as its sudden collapse ripples across the industry. LEGAL ACTIONMeanwhile, U.S. court filings showed Bankman-Fried is facing legal action in the United States from investors alleging the company's yield-bearing crypto accounts violated Florida law. Bloomberg on Tuesday also reported that U.S. and Bahamian authorities were discussing the possibility of bringing Bankman-Fried to the United States for questioning. Elsewhere, crypto exchange Binance, in a response to a hearing on the crypto industry by a British parliamentary committee on Monday, said it had not contributed to FTX's collapse. The U.S. House Financial Services Committee said Wednesday it plans to hold a hearing in December to investigate the collapse of cryptocurrency exchange FTX.

☆ Crypto broker Genesis suspends redemptions, new loans to shore up liquidity
▼ + stars: | 2022-11-16 | by ( ) www.reuters.com time to read: +1 min

Nov 16 (Reuters) - Genesis is temporarily suspending redemptions and new loan originations at its lending business, the crypto broker saidon Wednesday, the latest sign of the industry fallout from last week's collapse of major crypto exchange FTX. loading"We have taken the difficult decision to temporarily suspend redemptions and new loan originations in the lending business. We are working diligently to shore up the necessary liquidity to meet our lending client obligations," a Genesis spokesperson said in a statement. The suspension at Genesis "has no impact on the business operations of DCG and our other wholly owned subsidiaries", Digital Currency Group tweeted. Genesis Trading's derivatives business has approximately $175 million in locked funds on FTX, the company said Thursday.

☆ Grayscale Bitcoin Trust falls as cryptocurrencies slide again
▼ + stars: | 2022-11-16 | by ( ) www.reuters.com time to read: +2 min

Nov 16 (Reuters) - Grayscale Bitcoin Trust (GBTC.PK), the world's largest bitcoin fund, fell almost 7% on Wednesday, as investors dumped more digital assets after last week's high-profile unraveling of crypto exchange FTX. The trust is a close-ended fund, whose short-term price is driven by supply, demand and market sentiment unlike an exchange traded fund that generally trades in line with its value. In June, Grayscale sued the U.S. Securities and Exchange Commission for nixing the digital asset manager's proposal to convert bitcoin trust into a spot bitcoin exchange traded fund. Grayscale bitcoin fund, which has $10.7 billion worth of bitcoin under management, has slumped about 75% in the past 12 months. Grayscale Ethereum Trust (ETHE.PK), which has $3.8 billion assets under management, shed 81% in the past year.

Nov 16 (Reuters) - Crypto broker Genesis Global Capital is suspending redemptions and new loan originations at its lending business, it said on Wednesday, in the latest sign of the industry fallout from last week's collapse of major crypto exchange FTX. "We have taken the difficult decision to temporarily suspend redemptions and new loan originations in the lending business. We are working diligently to shore up the necessary liquidity to meet our lending client obligations," a Genesis spokesperson said in a statement. U.S. court filings showed Sam Bankman-Fried, FTX's founder, is being sued in a U.S. class action by investors alleging the company's yield-bearing crypto accounts violated Florida law. The proposed class action filed late on Tuesday in Miami alleges that FTX yield-bearing accounts were unregistered securities that were unlawfully sold in the United States.

☆ Cathie Wood's ARK Invest keeps buying more crypto assets despite FTX bankruptcy
▼ + stars: | 2022-11-15 | by ( Jesse Pound | ) www.cnbc.com time to read: +2 min

Cathie Wood's Ark Invest is not backing away from cryptocurrency after a steep drop in prices and the collapse of FTX. The Ark Next Generation ETF bough 315,259 shares of the Grayscale Bitcoin Trust on Monday. There is no pure-play bitcoin ETF, and the Grayscale vehicle is seen as a proxy to gain exposure to the most popular cryptocurrency. The Next Generation Internet ETF is down 61% year to date, and the flagship Ark Innovation ETF (ARKK) is down nearly 49%. The Next Generation Internet ETF has seen outflows of more than $500 million this year.

☆ Apple invested $450 million in a satellite-powered SOS system. We tested it out
▼ + stars: | 2022-11-15 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +7 min

The free feature promises to let iPhone users contact dedicated dispatchers in emergency situations via satellites when a cell phone network is unavailable. During my test with an iPhone 14 provided by Apple, I attempted to call 911 but was automatically redirected to Emergency SOS via Satellite dispatchers for the purposes of the demo. On Tuesday, Apple will launch the Emergency SOS with Satellite feature for those with an iPhone 14 in the United States and Canada. Apple said because the user may be in a distressed state, a questionnaire helps to gather critical information more quickly. For now, Emergency SOS via satellite only works in English, Spanish, and French, although the dispatchers have professional interpretation services available for many more languages.

☆ U.S. SEC delays decision on ARK 21Shares spot bitcoin ETF to Jan. 27
▼ + stars: | 2022-11-15 | by ( ) www.reuters.com time to read: 1 min

NEW YORK, Nov 15 (Reuters) - The U.S. Securities and Exchange Commission on Tuesday delayed a decision on whether to allow a spot bitcoin exchange-traded fund by stock-picker Cathie Wood's Ark Invest and crypto investment product firm 21Shares US to list and trade on Cboe Global Markets (CBOE.Z) until Jan. 27. The delayed decision on the ARK 21Shares Bitcoin ETF follows a series of rejections this year by the market regulator on ETFs that track bitcoin, including proposals from Grayscale, Fidelity, and NYDIG. Reporting by John McCrank; editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

☆ Factbox: From Genesis to Voyager, crypto firms' exposure to FTX is coming to light
▼ + stars: | 2022-11-14 | by ( ) www.reuters.com time to read: +6 min

REUTERS/Dado Ruvic/Illustration/File PhotoNov 17 (Reuters) - After major crypto exchange FTX filed for U.S. bankruptcy protection on Friday, the crypto industry is bracing for further fallout. While the extent of the contagion across crypto markets remains unclear, here are some firms that have given information about their exposure to FTX. GENESISThe crypto lending arm of U.S. digital asset broker Genesis Trading suspended customer redemptions on Wednesday, citing the sudden failure of FTX. It said it had no exposure to FTT, no exposure to Alameda Research and no loans to FTX. COINSHARESCrypto asset manager CoinShares has $30.3 million worth of exposure to crypto exchange FTX, CoinShares said in a statement on Nov. 10.

☆ The crypto industry is closely watching the midterm elections. Here's what it's looking for
▼ + stars: | 2022-11-04 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +5 min

The midterm elections are next week, and some investors are closely watching the outcome for an idea of how the next Congress's lawmakers will approach cryptocurrency over the following two years. Lawmakers and regulatory agencies have scrambled to sharpen their understanding of the fledgling sector, while the industry itself has beefed up its lobbying. There's a good chance the midterm elections will hardly dent the price action in the days that follow. They say the midterm elections and the new shape of Congress could affect how the legislative process unfolds. While the bear market has dominated headlines this year, the drumbeat for crypto regulation has gotten much louder, providing some comfort to members of the crypto industry.

"There is more asset allocation towards baskets that combine the top five or 10 crypto assets by market cap. TICK BY TICKMost active crypto ETP products are registered outside the United States, though, with Switzerland, Canada, Australia and Brazil racing ahead with spot crypto offerings. One reason is that U.S. regulators have turned down several applications for spot bitcoin funds, which mirror the cryptocurrency's price movements tick-by-tick, citing multiple reasons including a lack of surveillance-sharing agreements with regulated markets relating to the spot funds' underlying assets. The world's largest bitcoin fund, Grayscale Bitcoin Trust (GBTC.PK), is down 34% in the same time. At Grayscale's Bitcoin Trust, the AUM have tumbled to $12.2 billion from over $30 billion at the end of 2021, data from the firm showed.

Register now for FREE unlimited access to Reuters.com RegisterThe SEC has rejected over a dozen spot bitcoin ETF applications, and approved several bitcoin futures-based ETFs. The rejections have focused on applicants' lack of surveillance-sharing agreements with regulated markets relating to the spot funds' underlying assets. Grayscale argued in the court filing that the SEC had not applied its standards evenly to spot bitcoin ETFs and bitcoin futures-based ETFs, even though both types of funds are both fundamentally tied to the price of bitcoin. There is no spot bitcoin market that the SEC considers to be regulated, Grayscale said. Since the SEC deemed other agreements with CME sufficient to prevent fraud in bitcoin futures-based ETFs, the same should apply to bitcoin spot ETFs since both types of fund rely on the price of bitcoin, Grayscale said.

☆ Grayscale files lawsuit against SEC over bitcoin ETF denial
▼ + stars: | 2022-10-12 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGrayscale files lawsuit against SEC over bitcoin ETF denialGrayscale CEO Michael Sonnenshein joins CNBC's 'Squawk Box' to discuss Grayscale's lawsuit against the Securities and Exchange Commission for its decision to reject the company's spot bitcoin exchange traded fund.

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGrayscale files lawsuit against SEC, Bitfury CEO lays out state of U.S. regulation: 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, Bitfury CEO Brian Brooks discusses crypto markets and where regulation in the U.S. is headed.

☆ Meta unveils its much-hyped Quest Pro mixed reality headset
▼ + stars: | 2022-10-11 | by ( ) www.nbcnews.com time to read: +4 min

Meta Platforms unveiled its Quest Pro virtual and mixed reality headset on Tuesday, marking a milestone for Chief Executive Mark Zuckerberg’s break into the higher-end market for extended reality computing devices. The Quest Pro features several upgrades over Meta’s existing Quest 2 headset, which overwhelmingly dominates the consumer virtual reality market. For fully immersive virtual reality, Meta has added tracking sensors to the Quest Pro that can replicate users’ eye movements and facial expressions, creating a sense that avatars are making eye contact. Meta is pitching the Quest Pro as a productivity device, aimed at designers, architects and other creative professionals. For now, that means the Quest Pro stops short of enabling the complex commercial applications Meta has suggested it wants its metaverse tech to support.

☆ Meta's new Quest Pro headset, mixing real and virtual worlds, makes debut
▼ + stars: | 2022-10-11 | by ( Katie Paul | ) www.reuters.com time to read: +5 min

Meta/Handout via REUTERSOct 11 (Reuters) - Meta Platforms (META.O) unveiled its Quest Pro virtual and mixed reality headset on Tuesday, marking a milestone for Chief Executive Mark Zuckerberg's break into the higher-end market for extended reality computing devices. The Quest Pro features several upgrades over Meta's existing Quest 2 headset, which overwhelmingly dominates the consumer virtual reality market. For fully immersive virtual reality, Meta has added tracking sensors to the Quest Pro that can replicate users' eye movements and facial expressions, creating a sense that avatars are making eye contact. PITCHING PRODUCTIVITYMeta is pitching the Quest Pro as a productivity device, aimed at designers, architects and other creative professionals. For now, that means the Quest Pro stops short of enabling the complex commercial applications Meta has suggested it wants its metaverse tech to support.

☆ A factory line of terrors: TikTok's African content moderators complain they were treated like robots, reviewing videos of suicide and animal cruelty for less than $3 an hour.
▼ + stars: | 2022-08-01 | by ( Rosie Bradbury | Majd Al-Waheidi | ) www.businessinsider.com time to read: +17 min

One former Majorel advisor estimated that 1,400 content moderators work just on the firm's TikTok contract across Morocco. While targets and goals varied between teams, six moderators told Insider that their goals were difficult to meet. A spokesperson for Majorel told Insider these targets were guidance and not individual targets. While Majorel told Insider that moderators have access to harm-mitigation tools, such as grayscale features, all of the moderators Insider spoke with said they didn't have access to any such feature. Five other Majorel moderators also said the company's wellness counselors weren't enough to help them with the pressures of the role.

☆ 13 must-see charts, plus an $875 mini bitcoin-mining rig
▼ + stars: | 2021-07-25 | by ( Business Insider | ) www.businessinsider.com time to read: +2 min

We spoke to Grayscale Investments CEO Michael Sonnenshein about the firm's new DeFi index fund. If you aren't yet a subscriber to Insider Investing, you can sign up here. Read the full story here:Idan AbadaIdan Abada has gone viral on TikTok with an $875 mini bitcoin-mining rig. Read the full story here:Grayscale InvestmentsGrayscale Investments has launched a DeFi index fund in collaboration with CoinDesk Indexes. The market-cap-weighted index fund is Grayscale's 15th product and tracked 10 tokens as of July 1.

☆ Nancy Pelosi's husband just invested millions in 2 tech companies with lots at stake on Capitol Hill
▼ + stars: | 2021-07-12 | by ( Kimberly Leonard | Dave Levinthal | ) www.businessinsider.com time to read: +8 min

The House speaker's husband, Paul Pelosi, made two million-dollar stock trades. Pelosi's husband buys up more stocksHouse Speaker Nancy Pelosi's husband, Paul Pelosi, bought stocks in Google's parent company, Alphabet, and in Nvidia Corporation, which designs graphics-processing units for the gaming market. Drew Hammill, the speaker's spokesman, said she did not own any stock and complied with all disclosures, which require members of Congress to post stock trades for spouses and dependent children. Rep. Pat Fallon, a Republican from Texas, in a group photo with freshman members of the House Republican Conference on the House steps of the US Capitol on January 4. By federal law, members of Congress have 30 days from when they become aware of a stock trade to formally disclose it.

☆ Capitalizarea de piață a criptomonedelor a depășit un vârf istoric de 2 trilioane de dolari
▼ + stars: | 2021-04-06 | by ( Publika.Md - Aici Sunt Știrile | ) www.publika.md time to read: +1 min

Capitalizarea de piață a criptomonedelor a depășit luni un vârf istoric de 2 trilioane de dolari, potrivit datelor CoinGecko și Blockfolio. Bitcoin a crescut cu 1,4%, la 59.045 dolari. Ethereum, a doua cea mai mare criptomonedă în ceea ce privește capitalizarea pieței, a crescut cu 1,3%, la 2.103 dolari și o capitalizare de 244 miliarde de dolari luni. Bitcoin a crescut cu peste 100% în acest an, în timp ce ethereum a câștigat aproape 190%. Ambele au depășit masiv clasele de active tradiționale, susținute de intrarea companiilor de masă și a investitorilor mari în lumea criptomonedelor, inclusiv Tesla și BNY Mellon.

Persons: Bitcoin, Tesla Organizations: Grayscale

☆ Bitcoin-ul continuă să scadă: După un minus de 10% în 48 de ore, piaţa criptomonedelor a pierdut circa 100 de miliarde din valoarea totală
▼ + stars: | 2021-01-21 | by ( Publika.Md - Aici Sunt Știrile | ) www.publika.md time to read: +1 min

Bitcoin a scăzut pentru a doua zi la rând, ducând pierderile înregistrate de piaţa criptomonedelor la peste 10% în circa 48 de ore, scrie CNBC. Astfel, preţul unui bitcoin a scăzut joi cu 6% şi a ajuns la 31.310 dolari, cel mai slab rezultat din ultimele zece zile. La începutul lunii, criptomoneda a atins un nou maxim istoric – 41.940 de dolari –, însă a început aproape imediat să raporteze pierderi. Ether, a doua cea mai mare criptomonedă după valoarea de piaţă, a suferit un declin de 10% în ultimele două zile. Pe deasupra, valoarea pieţei de monede virtuale a scăzut cu 100 de miliarde de dolari în ultimele 48 de ore, de la 1,06 trilioane de dolari la 945 de miliarde, scrie businessmagazin.

Persons: Bitcoin, criptomoneda, Michael Sonnenshein Organizations: Grayscale

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