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☆ SEC's Gary Gensler says it could take time for spot ether ETFs to begin trading: CNBC Crypto World
▼ + stars: | 2024-06-05 | by ( Talia Kaplan | Jordan Smith | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSEC's Gary Gensler says it could take time for spot ether ETFs to begin trading: 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, Faryar Shirzad, chief policy officer at Coinbase, discusses the company's latest donation to digital asset-focused super PAC Fairshake.

Persons: Gary Gensler, explainers, Faryar Shirzad Organizations: CNBC Crypto, CNBC

☆ U.S. appeals court rejects SEC oversight rule for private equity, hedge funds
▼ + stars: | 2024-06-05 | by ( ) www.cnbc.com time to read: +3 min

Circuit Court of Appeals decided that the SEC exceeded its authority by adopting the rule in August 2023. The latest decision addressed rules covering private equity funds, hedge funds, venture capital funds and managers of funds for institutional investors such as pension funds and endowments, among others. Industry critics said this lack of transparency has hurt ordinary investors with indirect exposure to private funds, such as through pension and retirement plans. Private funds often attract well-heeled, sophisticated investors, and as a result have received less federal regulatory oversight than investments geared toward ordinary investors. In announcing the new rules, SEC Chair Gary Gensler said they would benefit "all investors, big or small, institutional or retail, sophisticated or not."

Persons: Gary Gensler Organizations: U.S . Securities, Exchange Commission, Securities and Exchange Commission, Circuit, Appeals, SEC, U.S, Democratic, Republican, National Association of Private Fund, Alternative Investment Management Association, American Investment Council, Trading Association, Association, National Venture Capital Association Locations: Washington ,, U.S, New Orleans

☆ Bill Ackman is probably about to get a lot richer. And much louder
▼ + stars: | 2024-06-04 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

The funding announced Monday puts a $10 billion price tag on Pershing Square, which manages about $16 billion worth of assets. The benefit of going public is you get to make money, obviously, so it’s not hard to see why Pershing Square would want to do it. For Ackman, in particular, being at the helm of a publicly traded company could be a particularly jarring shift. Pershing Square officially hung up its activist megaphone in 2022, opting to work with a small group of companies behind the scenes. Many of those followers are the kinds of retail investors Ackman could hope to attract to a publicly traded fund.

Persons: CNN Business ’, Bill Ackman, who’s, Ackman, ”, Lawrence J ., White, “, I’ve, ” White, he’s, I’m, he’ll, —, Elon Musk, Pershing, Musk, ” NYU’s White, Tesla Organizations: CNN Business, New York CNN, Pershing, Securities, Exchange, NYU Stern School of Business, Herbalife, Twitter, Hamas, MIT, Trump, SEC, Bloomberg Locations: New York, Pershing, Israel

☆ Jeff Bezos dumped over a million Amazon shares to fund his preschool nonprofit, filings show
▼ + stars: | 2024-06-03 | by ( George Glover | ) www.businessinsider.com time to read: +1 min

Amazon founder Jeff Bezos sold more than a million shares last week, per an SEC filing. Some of the money will be used to fund the billionaire's chain of nonprofit preschools. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementJeff Bezos sold around 1.1 million Amazon shares last week — and used the money raised to fund his "Montessori-inspired" nonprofit preschools, SEC filings show. The world's third-richest man sold 431,426 shares on May 29 and 667,260 shares on May 30, with the $117 million raised from the second of those sales going to Day 1 Academies, a chain founded by Bezos.

Persons: Jeff Bezos, —, Bezos Organizations: SEC, Service, Business

☆ The SEC ruling on Ethereum ETFs could mark a historic shift in crypto investing
▼ + stars: | 2024-06-01 | by ( Emily Glass | ) www.cnbc.com time to read: +1 min

"This is really one of the most amazing things that I've seen in my career with respect to securities regulation," van Eck told CNBC's "ETF Edge" this week. VanEck was the first to apply to the SEC for permission to list its proposed Ethereum ETF. So the first reaction was to get the ETF, Ethereum ETF approval green lighted," he said. To van Eck, the buzz around Ethereum this May means clearer regulation on the horizon and an increased investor interest in crypto. Ether spiked on the SEC's approval of applications to list Ethereum ETFs on May 23, but is virtually flat since then.

Persons: Jan van Eck, van Eck, CNBC's, VanEck, Van Eck Organizations: U.S . Securities, Exchange, SEC, ETH, Innovation, Technology, Century

☆ Bitcoin investors see sideways trading in June as focus turns to Washington
▼ + stars: | 2024-06-01 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +4 min

That's thanks to last week's ether-led rally ahead of the SEC's approval of a rule change allowing ether ETFs in the U.S., when ether surged 20% in two days. Now, aspiring sponsors of ether ETFs need to file their S-1 registration forms for the individual funds. Until then, crypto is without a clear catalyst, with bitcoin ETFs and the halving in the rear view window. Bitcoin miners struggle after the halving Elsewhere, the bitcoin price could see some pressure from miner selling. Market watchers anticipated this would hppen after April's bitcoin halving, which slashed a key revenue source – the block reward – for bitcoin miners.

Persons: cryptocurrency, Antoni Trenchev, Bitcoin, Trenchev, Yuya Hasegawa, Hasegawa, Julio Moreno, there's Organizations: Metrics, SEC, Federal Locations: U.S, Washington

☆ Kraken's chief legal officer: SEC's suit against crypto exchange 'never should have been brought'
▼ + stars: | 2024-05-31 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailKraken's chief legal officer: SEC's suit against crypto exchange 'never should have been brought'Marco Santori, Kraken's chief legal officer, sat down with CNBC Crypto World, to explain why the crypto exchange is moving to dismiss the case against them and what's next as it relates to the SEC's lawsuit. He also weighed in on recent regulatory developments in crypto in the U.S. compared to other regions around the world.

Persons: Marco Santori, what's Organizations: CNBC Locations: U.S

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEther soars 27% in May after SEC clears path for spot ether ETFs: 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, Ripple CEO Brad Garlinghouse and Kraken's Chief Legal Officer Marco Santori discuss crypto regulation from Consensus 2024.

Persons: explainers, Brad Garlinghouse, Marco Santori Organizations: SEC, CNBC Crypto, CNBC

☆ A single customer made up 19% of Nvidia's revenue last year. UBS thinks it's Microsoft.
▼ + stars: | 2024-05-31 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

The company said just two customers represented 24% of its revenue in the first quarter. UBS thinks the biggest mystery customer — accounting for 19% of revenue last year — is Microsoft. And UBS believes Nvidia's biggest customer of them all is Microsoft. According to supply chain data estimates from Bloomberg, Arcuri is spot on with Microsoft being Nvidia's largest customer. Bloomberg data estimates that Microsoft makes up 15% of Nvidia's revenue, followed by Meta Platforms at 13% of revenue, Amazon at 6% of revenue, and Alphabet at about 6% of revenue.

Persons: —, Blackwell, Timothy Arcuri, Arcuri Organizations: Nvidia, UBS, Microsoft, Service, SEC, OpenAI, Bloomberg, Meta, Amazon

☆ Sam Altman is considering turning OpenAI into a regular company: report
▼ + stars: | 2024-05-30 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

The 39-year-old Stanford dropout has talked about turning OpenAI into a regular, for-profit company, The Information reported on Wednesday, citing an individual who'd spoken to Altman. Unlike most companies, OpenAI says it is run as a "capped-profit" company, with its for-profit arm governed by a nonprofit. According to Toner, OpenAI's board was kept in the dark about ChatGPT's release in November 2022. Toner, who left the board shortly after Altman was reinstated as CEO, also accused him of lying about his financial interests in OpenAI. "Our focus remains on moving forward and pursuing OpenAI's mission to ensure AGI benefits all of humanity."

Persons: —, Sam Altman, Altman, OpenAI, Sam, Helen Toner, Toner, OpenAI's, Sam didn't, " Toner, Bret Taylor, OpenAI didn't Organizations: Service, Stanford, Business, Microsoft, Fund, SEC, BI Locations: OpenAI

☆ Fast-fashion behemoth Shein is preparing for an IPO. Here's an inside look at the challenges it could face.
▼ + stars: | 2024-05-30 | by ( Tasmin Lockwood | Riddhi Kanetkar | ) www.businessinsider.com time to read: +11 min

Its peak $100 billion valuation once made it the world's third largest privately-held company, behind TikTok owner Bytedance and Elon Musk's SpaceX. Estimates have pegged Shein's IPO valuation at around $90 billion, Bloomberg reported last year. AdvertisementTo gauge what happens to some Shein items once they're returned, BI reporters in the UK put two AirTag trackers on Shein garments and sent them back. Shein is more directly involved in production and focuses on clothes, but Temu's popularity "could affect the valuation," Swartz said. In a November statement following the news of Shein's IPO, chairman Mike Gallagher urged investors and banks underwriting the move to "carefully examine Shein's regulatory and compliance programs."

Persons: —, Bytedance, Sky Xu, Yangtian Xu, Chris, Shein, confidentially, David Swartz, Swartz, Lululemon, JADE GAO, Stephanie Benedetto, Queen, Benedetto, they're, Shein's, Morningstar's Swartz, Temu, Mike Gallagher Organizations: Service, Elon, SpaceX, Business, Reuters, Authentic Brands, Wall Street, CNBC, Bloomberg, Morningstar, Zurich Insurance Group, Guardian, BI, Coventry Airport, SEC, Street, Financial Times, London Stock Exchange, Chinese Communist Party, Nike, Adidas Locations: China, —, Singapore, Sequoia China, London , Hong Kong, York, London, Canary Wharf, Coventry, Walsall, Northern Ireland, England, Kent, Washington, Xinjiang, Dublin, Shein

☆ Turbulence-hit Singapore Airlines flight fell 54 meters in less than five seconds, investigation finds
▼ + stars: | 2024-05-29 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

An Airbus A350-941 from Singapore Airlines is preparing to take off on the runway at Barcelona-El Prat Airport in Barcelona, Spain, on May 1, 2024. The Singapore Airlines flight that encountered severe turbulence on its way from London to Singapore dropped 54 meters in less than five seconds, preliminary findings released Wednesday showed. The Transport Safety Investigation Bureau of Singapore said the sharp altitude drop as well as changes to gravitational forces likely caused the injuries. This sequence of events likely caused the injuries to the crew and passengers," the report said Wednesday. The changes in gravitational forces "likely resulted in the occupants who were not belted up to become airborne," the report said.

Organizations: Airbus, Singapore Airlines, El, Transport Safety Investigation Locations: Barcelona, Spain, London, Singapore

☆ Stock trade settlement moves to single day as GameStop mania underscores need for faster transactions
▼ + stars: | 2024-05-28 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

Years of work on Wall Street to pick up the pace of trading will be put to the test this week. Starting Tuesday, trades of stocks and several other securities will need to be settled by the end of the next business day. This so-called "T+1 settlement" is an acceleration of the previous process, which allowed for two business days. The latest change comes after the GameStop mania in 2021 put the settlement process under closer scrutiny. There was also increased instances of "failure to deliver," or trades where settlement did not occur, during that period.

Persons: Gary Gensler, Tim Huver, Brown, Harriman Organizations: Securities, Exchange, SEC, GameStop

☆ VanEck CEO on the timeline for a spot Ethereum ETF
▼ + stars: | 2024-05-28 | 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 EmailVanEck CEO on the timeline for a spot Ethereum ETFVanEck CEO Jan van Eck joins ‘ETF Edge’ on ‘Fast Money Halftime Report’ to discuss the SEC approval of spot Ethereum ETFs and what’s next for his fund after getting approved.

Persons: Jan van Eck Organizations: SEC

☆ SEC embrace of ether ETFs highlights cryptocurrency's shifting political fortunes
▼ + stars: | 2024-05-27 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

The newly opened door to ether ETFs is part of a larger story that dominated cryptocurrency markets last week: the industry's political tides appear to be shifting in its favor. Expectations of an approval were low as the week began, but flipped completely and suddenly last Monday — sending ether up 20% . Many are hailing FIT 21 as a landmark victory for the industry. "I'd be surprised if FIT 21 or something like it actually becomes law this year," said Thorn. It does portend a sweeping change in [the] Democratic leadership approach to this industry, and that can only help crypto."

Persons: Biden, Donald Trump, Rachel Lin, Oppenheimer, Owen Lau, Lau, Alex Thorn, didn't, Kirsten Gillibrand, Cynthia Lummis, I'd Organizations: Securities and Exchange Commission, SEC, Representatives, SAB, Innovation, Technology, Futures Trading Commission, CNBC, Galaxy Digital, Senate, Gillibrand, Democratic

☆ Former SEC chief Jay Clayton breaks down approval of spot ether ETF applications
▼ + stars: | 2024-05-24 | 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 EmailFormer SEC chief Jay Clayton breaks down approval of spot ether ETF applicationsJay Clayton, former SEC chairman, joins 'Squawk Box' to discuss the SEC's decision to approve spot Ether ETF applications, what's different about this round of the ETF applications, and if the SEC's news is related in any way to the crypto bill passed in the House of Representatives.

Persons: Jay Clayton Organizations: Former SEC, SEC

☆ Ether slips after SEC opens the door to ether ETFs, still heads for best week in more than a year
▼ + stars: | 2024-05-24 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

It's holding on to its weekly gain of 20%, and is on pace for its best week in more than a year. Earlier this week surged more than 20% over two days, as expectations of an SEC approval of ether ETF applications changed abruptly. By contrast, in the weeks leading up to approvals for bitcoin ETFs, the SEC was reported to be engaging actively with fund issuers. Coinbase , which may be a beneficiary of ether ETFs, was more than 1% in premarket trading, while Robinhood nearly 1%. Cryptocurrency prices, including ether's, may also be tempered by the Thursday afternoon stock market sell-off.

Persons: Rachel Lin, Ether, Alex Saleh, Coinbase, bitcoin Organizations: Metrics, Securities and Exchange Commission, SEC

☆ Jim Cramer runs through 4 stock movers and why he owns and believes in cryptocurrency ether
▼ + stars: | 2024-05-24 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +1 min

Workday : The HR software company cut its subscription revenue outlook, and the stock was being punished Friday, down 13.5%. "Everybody in the country is trying to scale back" human resources, Jim Cramer said Friday, adding that's the problem. The stock Wednesday finished well off the highs for the session and then went down and up Thursday and Friday. Cramer said "Deckers is very well run company" but warned that footwear and apparel "can be fickle." Cramer said he owns ether in his personal portfolio.

Persons: Jim Cramer's, Jim Cramer, Cramer, UGGs Organizations: CNBC, Club, HR, Ross Stores, Ross, Intuit, SEC, U.S . Locations: Maxx

☆ Ether prices on pace for best week in a year after SEC approves ETF applications
▼ + stars: | 2024-05-24 | 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 EmailEther prices on pace for best week in a year after SEC approves ETF applicationsCNBC's Tanaya Macheel has the latest news on Cyprtocurrency and ETFs.

Persons: Macheel Organizations: SEC

☆ NCAA signs off on deal that would change landscape of college sports — paying student-athletes
▼ + stars: | 2024-05-24 | by ( The Associated Press | Nbc News | ) www.cnbc.com time to read: +8 min

General signage before practice for the first round of the 2024 NCAA Tournament at PPG Paints Arena. Charles LeClaire-USA TODAY SportsA major change could be coming for college athletes — they may soon start getting paid. Other casesThe settlement is expected to cover two other antitrust cases facing the NCAA and major conferences that challenge athlete compensation rules. Hubbard v. the NCAA and Carter v. the NCAA are also in front of judges in the Northern District of California. College sports have been trending in this direction for years, with athletes receiving more and more monetary benefits and rights they say were long overdue.

Persons: Charles LeClaire, —, Charlie Baker, Steve Berman, Grant, Michael McCann, McCann, Logan Riely, Hubbard, Carter, Fontenot, they're, George Zelcs Organizations: PPG Paints, NCAA, ACC, SEC, Former Arizona State, Grant House, Sedona Prince, TCU, NBC, Washington Huskies, Michigan Wolverines, College Football Playoff, Notre Dame, Big, Atlantic Coast, Washington, Oregon State, Northern District of, College Locations: Oregon, amateurism, Houston, Southeastern, Washington State, Northern District, Northern District of California, Colorado, Fontenot

☆ Truth Social struggles to grow its U.S. user base, new data on Trump Media app shows
▼ + stars: | 2024-05-24 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +6 min

But the new analyses could be warning signs for Trump Media, whose business depends in large part on growing its user base. Truth Social users were down 19.7% year over year, according to Similarweb. Truth Social users on average check the site fewer than two days a week — falling behind apps like Facebook, X, TikTok, Reddit and Pinterest. Truth Social users also clock fewer minutes of engagement on the platform that do the users of other social media networks. "Compared to other social media platforms, Truth Social users are accessing the app much less frequently and are spending much less time on it per session," the firm's CEO, Dr. Paul Carter, told CNBC in an email.

Persons: Dado Ruvic, Donald Trump's, —, Similarweb, Trump, Similarweb's, David Carr, Carr, Michael M, Paul Carter, Carter, Donald Trump, Jim Watson Organizations: Reuters, Social, Trump Media, White, Trump, CNBC, Securities and Exchange Commission, SEC, Nasdaq, Trump Media & Technology Group, Santiago, Getty, Truth, Facebook, Republican, AFP Locations: U.S, Similarweb, New York City, South Bronx

☆ Here's where BlackRock's bond guru Rick Rieder sees opportunity right now
▼ + stars: | 2024-05-24 | by ( Michelle Fox | ) www.cnbc.com time to read: +5 min

There's a lot to like right now in the fixed income market, according to BlackRock's Rick Rieder. He finds European credit, both investment grade and BB-rated high yield, attractive in part because of the strong U.S. dollar. They have also added high quality CLOs and high-quality European securitized assets. "We're getting more yield than BB high yield. We're getting almost as much yield as full high yield — and our volatility is 60% of that market, just because we diversified," Rieder said.

Persons: BlackRock's Rick Rieder, Rieder, Bond, Fed Governor Waller, I've, He'd, Morningstar, We've, we're, BINC, We're, they'll Organizations: CNBC, SEC, Federal Reserve, Fed, AAA, BlackRock AAA, BlackRock AAA CLO, U.S, CLOs, MBS Locations: BlackRock, CLOs, European

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEther falls after SEC approves rule change that would open door for spot ETH ETFs: 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, Hany Rashwan, CEO of 21Shares, one of the potential issuers of spot ether ETFs in the United States, explains what comes next after the SEC approved a rule change that would pave the way for the products.

Persons: explainers, Hany Rashwan Organizations: SEC, ETH, CNBC Crypto, CNBC Locations: United States

☆ What's next after the House passed bill outlining a crypto regulatory framework: CNBC Crypto World
▼ + stars: | 2024-05-23 | 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 EmailWhat's next after the House passed bill outlining a crypto regulatory framework: 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, Alex Thorn, head of research at Galaxy, reacts to the House passing a crypto regulatory framework bill. Plus, he gives his expectations ahead of a decision from the SEC on spot ether ETFs.

Persons: What's, explainers, Alex Thorn Organizations: CNBC Crypto, CNBC, Galaxy, SEC

☆ This DoubleLine bond fund is beating the market. Here's what it's buying
▼ + stars: | 2024-05-23 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +3 min

A bond fund run by two of the top names at DoubleLine is outpacing the broader market by being defensive without fully committing to an imminent recession. The DoubleLine Opportunistic Bond ETF (DBND) has a total return of 3.2% over the past year. That's more than the broadest bond funds, such as the iShares Core U.S. Aggregate Bond ETF (AGG) , and the category indexes for the ETF as determined by FactSet and Morningstar. "Given where yield levels are, you're paid relatively well just to be in the higher credit quality," Sherman said.

Persons: Morningstar, Jeffrey Sherman, Jeffrey Gundlach, Sherman, Bonds, it's Organizations: Bond, Aggregate Bond, FactSet, SEC, CNBC, Federal Reserve Locations: DoubleLine, Treasurys

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