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Bankman-Fried's will be the first of Williams' blockbuster white collar cases to go to trial. The cases Williams, 43, has brought so far show he has been a "steward" of the SDNY's longstanding priorities, said Kan Nawaday, who overlapped with Williams at the office. Prosecutors had described the cases as the first insider trading cases brought involving digital assets. Williams' charges against Bankman-Fried came just one month after FTX's collapse, which former prosecutors say is very fast for a complex white collar case. WILLIAMS HAS STRUGGLED WITH SELF-DOUBTBankman-Fried's trial comes after some setbacks and amid ongoing challenges for Williams' office.
Persons: Damian Williams, Mike Segar, Sam Bankman, Williams, Charlie Javice, Bill Hwang, Joe Lewis, Javice, Hwang, Lewis, Kan Nawaday, He's, Venable, Prosecutors, Alex Mashinsky, WILLIAMS, SDNY's, John Paul Stevens, General Merrick Garland, Garland, Joe Biden, Bob Menendez, Menendez, Fried, Joshua Naftalis, Pallas, Brian Benjamin, haters, Luc Cohen, Noeleen Walder, Daniel Wallis Organizations: Attorney, Southern, of, REUTERS, U.S, Yale Law School, Archegos Capital Management, Supreme, Allianz's U.S, Allianz, Bankman, New, Columbia Law School, Thomson Locations: Manhattan, New York City , New York, U.S, of New York, English, Jersey, Bahamas, Caribbean, New York, Bronx, Georgia
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCoinbase CEO Brian Armstrong on regulation: It's really imperative that we get this rightCoinbase CEO Brian Armstrong joins 'Squawk Box' to discuss 'Stand With Crypto Day', the state of the crypto industry, regulatory framework, Coinbase's international expansion, and more.
Persons: Brian Armstrong
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFormer Sen. Pat Toomey on government shutdown: Don't count Kevin McCarthy outCoinbase senior advisor and former U.S. Senator Pat Toomey (R-Pa.) joins 'Squawk Box' to discuss the latest negotiations on Capitol Hill, whether a deal can be reached before Saturday's deadline to avert a shutdown, the challenges facing House Speaker Kevin McCarthy, crypto regulation, and more.
Persons: Former Sen, Pat Toomey, Kevin McCarthy Organizations: Former, Capitol
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCoinbase CEO joins entrepreneurs on Capitol Hill to push for clear crypto rules: 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 todays show, Solo Ceesay of Calaxy explains why he's optimistic about bitcoin's next bull run.
Persons: explainers, Calaxy Organizations: Capitol, CNBC Crypto, CNBC
Crypto companies have been expanding in Washington to combat growing regulatory scrutiny, especially from the SEC which says the industry has been flouting its rules. "Everybody wants to make sure that what they're doing isn't going to be erased by the government," said Kara Calvert, head of U.S. policy at Coinbase, referring to the crypto industry. A House vote before year-end is possible, but the outlook is dimmer in the Senate, where industry-friendly crypto bills have failed to gain traction. And Senate Banking Committee Chair Sherrod Brown of Ohio has shown little interest in making it a priority to advance the House bills. "The last thing we need is for the crypto industry to write their own rulebook — too many Ohioans have been burned by fraud and scams," said Brown in a statement to Reuters.
Persons: Dado Ruvic, Katherine Dowling, Coinbase, OpenSecrets, Brian Armstrong, Kara Calvert, Mark Hays, Sherrod Brown of, Brown, Ian Katz, Hannah Lang, Michelle Price, Richard Chang Organizations: REUTERS, Coinbase, Financial, National Defense, U.S . Securities, Exchange Commission, SEC, Binance, Reuters, OpenSea, Financial Reform, Senate, Capital Alpha Partners, Thomson Locations: Washington, NFTs, Sherrod Brown of Ohio, Ohio
The three-day Messari Mainnet conference in New York was less expensive and less fun than it was a year ago. That's the sense I got after spending three days rubbing shoulders with crypto founders, blockchain pros, politicians and executives at Messari Mainnet in New York City. Coinbase hosted reporters at a press breakfast during Messari Mainnet 2023. AdvertisementAdvertisementThe long shadow of Gary GenslerGary Gensler, the chairman of the Securities and Exchange Commission, did not attend Messari Mainnet, but no one could stop saying his name. "Gary Gensler cannot state whether ethereum is a security or not," Ramaswamy told the audience.
Persons: Phil Rosen, Carlos Domingo, they're, Anthony Scaramucci, Jesse Pollak, Base, Coinbase, Crypto, Jess Houlgrave, WalletConnect, Houlgrave, Gary Gensler Gary Gensler, Scaramucci, Vivek Ramaswamy, Ramaswamy, Gensler, Gary Gensler, Coinbase's Pollak, Pollak, Messari Organizations: Service, Skybridge Capital, White House, Coinbase, Securities and Exchange Commission, Jiminy Cricket, SEC Locations: New York, Wall, Silicon, New York City, ethereum, Singapore, Hong Kong
Tech billionaire Mark Cuban recently lost nearly $900,000 worth of crypto to a scam that could happen to any crypto owner. On Friday, apparent hackers drained Cuban's digital wallet of around $870,000 worth of various types of cryptocurrencies, including various stablecoins, SuperRare and Ethereum Name Service tokens, according to crypto news outlet DL News. However, Cuban says he believes he downloaded a fraudulent version of the popular app that he found in a Google search, according to DL News. That's one reason financial experts advise against putting more money into crypto than you're willing to potentially lose. Before the hackers made off with more of Cubans digital funds, he says he was able to transfer his remaining virtual assets to Coinbase, per DL News.
Persons: Mark Cuban, Kenny Estes, they're Organizations: Tech, Cuban, CNBC Locations: MetaMask
Cathie Wood says a U.K.-founded company is "one of the best AI companies in the world." It now operates as Google DeepMind. This year, Alphabet said it's merging DeepMind with an internal Google Research team called Brain . It's a move designed to bring two groups focused on AI closer together as the battle for AI heats up. Google is racing to compete with Microsoft and other tech companies in AI, with Microsoft already making huge strides with its investment in OpenAI.
Persons: Cathie Wood, Ark, CNBC's, DeepMind, Wood Organizations: Google, Google Research, Microsoft, Wednesday Locations: OpenAI
Cathie Wood, CEO of Ark Invest, speaks during an interview on CNBC on the floor of the New York Stock Exchange (NYSE) in New York City, February 27, 2023. Brendan McDermid | ReutersArk Invest CEO Cathie Wood said she did not participate in Arm's blockbuster initial public offering last week because she finds the chip designer was overvalued relative to its competitive position. Arm CEO Rene Haas and executives cheer, as Softbank's Arm, chip design firm, holds an initial public offering (IPO) at Nasdaq Market site in New York, U.S., September 14, 2023. Brendan Mcdermid | Reuters"So we did not participate in that IPO, and we also compare it to the stocks in our portfolios. The top holdings in Wood's flagship Ark Innovation ETF include Tesla , Shopify , UiPath , Unity , Zoom , Twilio , Coinbase , Roku , Block and DraftKings .
Persons: Cathie Wood, Brendan McDermid, Wood, Rene Haas, Brendan Mcdermid Organizations: Ark Invest, CNBC, New York Stock Exchange, Reuters Ark, Nasdaq, Reuters, Innovation, Tesla, U.S . Federal Reserve Locations: New York City, New York, U.S
A representation of the cryptocurrency is seen in front of Coinbase logo in this illustration taken, March 4, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsSept 19 (Reuters) - Coinbase (COIN.O), the largest U.S. cryptocurrency exchange, is stepping up its grassroots advocacy campaign in a bid to advance legislation that will provide regulatory clarity for the industry, the company said. Coinbase estimates there are 52 million crypto owners in the U.S. Coinbase last month started a non-profit, Stand With Crypto, to advance pro-crypto policy. That group has recently held events in Ohio, Nevada, Georgia and Montana that have "tested the capacity to organize crypto advocates,” Coinbase said in a blog.
Persons: Dado Ruvic, Coinbase, “ Crypto, Kara Calvert, ” Coinbase, Hannah Lang, Michelle Price, Timothy Gardner Organizations: REUTERS, U.S . House, Representatives, Capitol, U.S, U.S . Securities, Exchange Commission, Thomson Locations: U.S, Washington ,, Washington, Ohio , Nevada , Georgia, Montana
The howls will begin the minute the FTC's lawsuit against Amazon hits the clerk's desk. What you don't see on that list is anything that could attempt to compete with Amazon or Meta or Apple or Microsoft or Google . Whenever we look at a startup that would directly compete with a company like Amazon, the answer to the second question is always, "yes, definitely." I think Amazon is a great company. Luckily, as these earlier giants started to falter, companies like Apple and Microsoft took off, and companies like Google, Amazon and Meta came along.
Persons: Lina Khan, Khan, I'm, we're, Bernie Sanders, it's, there's, Bradley Tusk Organizations: Yale Law, Amazon, FTC, Tusk Venture Partners, Apple, Microsoft, IBM, GE, Google, Meta, Department of Justice Locations: Larchmont , New York, Alma, Manhattan
The co-founder of Ethereum, Joseph Lubin, said "clear heads will prevail" as the U.S. Securities and Exchange Commission continues to dispute with crypto firms in court over whether crypto tokens are considered securities. "I anticipate that, with previous technologies like the internet, the web and cryptography, clear heads will prevail," Lubin told CNBC's "Capital Connection" on Thursday. Crypto firms such as Binance, Coinbase and Ripple are fighting lawsuits with the SEC, which has accused them of law violations. The SEC sued Ripple and its co-founders in 2020 of violating securities laws by selling its native cryptocurrency XRP without first registering it with the SEC. In the same month, Binance was charged for several securities law violations.
Persons: Ethereum, Joseph Lubin, Lubin, CNBC's, Binance Organizations: U.S . Securities, Exchange Commission, ConsenSys, SEC Locations: America
It's becoming clear that investor apathy in this year's crypto market is starting to hurt Coinbase , according to Mizuho analysts. The crypto exchange's trading volume historically has been influenced by moves in the price of bitcoin . Mizuho maintains its underperform rating and $27 price target on Coinbase shares. Bitcoin trading volume across spot crypto exchanges is about in line with levels from Aug. 30, according to CryptoQuant. The price of bitcoin has remained stagnant in recent weeks despite having several positive developments in the same period on the regulatory and ETF fronts.
Persons: Coinbase, Mizuho, Dan Dolev, bitcoin, Dolev, — CNBC's Michael Bloom Organizations: Mizuho, U.S . Securities, Exchange
Here are Tuesday's biggest analyst calls: Bank of America reiterates Nvidia as buy The bank is feeling even more bullish on the stock after meeting with Nvidia management at the Bank of America Global AI Conference. Monness Crespi Hardt downgrades Oracle to neutral from buy Monness downgraded Oracle after its earnings report Monday, mainly on valuation. Morgan Stanley reiterates Walmart as overweight Morgan Stanley said its latest survey checks show Walmart+ continues to gain traction with consumers. Bank of America upgrades Cintas to buy from neutral Bank of America said the uniform company is "best in breed." Bank of America reiterates Disney as buy Bank of America is bullish on Disney's carriage agreement with cable company Charter.
Persons: NVDA, Monness Crespi Hardt downgrades, Tesla, Morgan Stanley, Wolfe, Berenberg, TD Cowen, Cowen, Mizuho, Coinbase, Riley, Guess, GES, Bernstein, Goldman Sachs, Exxon Organizations: Bank of America, Nvidia, Bank of America Global AI, Monness Crespi Hardt downgrades Oracle, Oracle, RBC, Tesla, Walmart, CVS, Retail, Endeavor, of America, Citi, BRP Inc, Canadian ATV, BRP, Disney, Barclays, U.S, BMO, Adobe Locations: Coinbase, Canadian
Zodia Custody, a company that helps large institutions store their crypto, launched in Singapore on Tuesday in a bid to tap into the country's rapidly growing digital asset market. The development makes Zodia the first entity that is owned by and partnered with banks to provide digital asset custody services for financial institutions in Singapore, Zodia said in a news release. Zodia is also part-owned by SBI Digital Asset Holdings, the crypto division of Japanese bank SBI. "Singapore is a market that has been no stranger to the crypto world for a long time," Sawyer said. Standard Chartered has a "fantastic brand" in Singapore, Sawyer said, adding that the backing of such a large institution has helped boost its conversations with major financial firms.
Persons: Zodia, StanChart, Julian Sawyer, Sawyer, blockchain, Crypto, Zodia's, Coinbase Organizations: Standard Chartered, Northern Trust, SBI Digital Asset Holdings, SBI, CNBC, Starling, Chartered, Arrows, United, United Arab Emirates Locations: Singapore, British, Asia, Africa, Japan, Pacific, Abu Dhabi, United Arab, India
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCoinbase 'committed to India' despite stopping new user sign ups on exchange: 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, S&P Global's Cristina Polizu breaks down the findings of new stablecoin research.
Persons: Coinbase, explainers, Global's Cristina Polizu Organizations: CNBC Crypto, CNBC Locations: India
Flexport's CEO Ryan Petersen said on X that it's rescinding dozens of job offers. Recruiters point out that rescinding job offers is not uncommon – and not illegal. Roman later told Insider that Flexport's decision might also set a new precedent for how people think about job offers. He also noted that rescinded offers have been among the "most challenging" situations he's had to deal with in his professional life. In June 2022, cryptocurrency platform Coinbase rescinded job offers via mass emails — a decision that at least one recipient denounced as "unprofessional."
Persons: Ryan Petersen, Nick Roman, Roman, I'm, Olivier, Schreiber, Philipp Slappnig, he's, Petersen, Flexport, we've, shakeup, Dave Clark, Clark, Flexport's Organizations: Service, LinkedIn, Amazon Locations: Wall, Silicon
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCoinbase is investing its resources towards international expansion, says CEO Brian ArmstrongCoinbase CEO Brian Armstrong and CNBC's Kate Rooney join 'Power Lunch' to discuss Coinbase's international expansion, an absence of regulatory frameworks for crypto in the U.S., and crypto's ongoing battle with the SEC over bitcoin ETFs.
Persons: Brian Armstrong, CNBC's Kate Rooney Organizations: SEC Locations: U.S
Y Combinator's Demo Day used to be the hottest in-person early-stage event in Silicon Valley. For early-stage venture capitalists, few days on the calendar used to compare to Y Combinator's biannual Demo Day. "All of the funds try to go meet the best YC companies before Demo Day," the same investor told Insider. When asked about startups raising before Demo Day, Y Combinator president and CEO Garry Tan told Insider in an emailed statement that "lots of the best companies raise at Demo Day and after." "Coinbase, Instacart, Whatnot, Rappi, Airbyte, Retool — you could have gotten into their rounds at Demo Day.
Persons: It's, Erik Bruckner, Y, Garry Tan, it's, Bruckner, They're, Y Combinator, Jeff Weinstein, Combinator, Tan, haven't Organizations: YC, Bruckner Ventures, FJ Labs Locations: Silicon Valley, Columbus , Ohio
Employees of Coinbase Global Inc, the biggest U.S. cryptocurrency exchange, watch as their listing is displayed on the Nasdaq MarketSite jumbotron at Times Square in New York, U.S., April 14, 2021. REUTERS/Shannon Stapleton Acquire Licensing RightsSept 5 (Reuters) - Crytocurrency exchange Coinbase Global (COIN.O) is launching a digital asset lending platform aimed at large institutional investors, a company spokesperson told Reuters on Tuesday. Coinbase has raised $57 million for its new crypto-lending platform, a regulatory filing showed. Coinbase last month had secured approval to offer cryptocurrency futures to U.S. retail customers, scoring a major regulatory win. Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.
Persons: Shannon Stapleton, Coinbase, Grayscale's, Jaiveer Singh, Shailesh Organizations: Coinbase Global Inc, Nasdaq, REUTERS, Reuters, Securities and Exchange Commission, SEC, Thomson Locations: New York, U.S, Bengaluru
The SEC has waged war against the cryptocurrency industry this year with a string of lawsuits. At the heart of it is SEC chief Gary Gensler – who has railed against crypto since taking office. Amid his regulatory battle against crypto, Insider maps the evolution of his views on the sector. AdvertisementAdvertisementAs 2023 progresses, Gensler has become more hardline on crypto – waging lawsuits not just against FTX, but also the Binance and Ripple platforms. Lawsuit fatigueAfter almost six months of attrition warfare, Gary Gensler had crypto on the ropes.
Persons: Gary Gensler –, Gary Gensler, messier, Gensler, Satoshi's, Bitcoin, Sam Bankman, Ritchie Torres, Fortune Crypto Organizations: SEC, Service, Securities and Exchange Commission, Investments, CoinDesk, Goldman, Bloomberg TV Locations: Wall, Silicon
FILE PHOTO: Representations of cryptocurrency Bitcoin are placed on a PC motherboard, in this illustration taken June 16, 2023. A spot bitcoin ETF would give investors exposure to the world’s largest cryptocurrency by market capitalization without having to own it. The SEC has denied all spot bitcoin ETF applications, saying applicants have not shown they can protect investors from market manipulation. Grayscale argued the same setup should be satisfactory for its spot ETF, since both products rely on bitcoin’s underlying price. Other firms have spot bitcoin ETF applications with the SEC, including asset management giant BlackRock, Fidelity and WisdomTree.
Persons: Dado Ruvic, Grayscale’s, It’s, , Christopher LaVigne, Withers, , Michael Sonnenshein, Bitcoin, Sui Chung, Joseph Toner, Seth Hertlein, Ryan Louvar, Paul Grewal, ” Coinbase, Withers ’ LaVigne Organizations: WASHINGTON, REUTERS, District of Columbia, Securities and Exchange Commission, SEC, CNBC, Chicago Mercantile Exchange, Fidelity, Coinbase, BlackRock, Supreme Locations: Washington, New York, WilmerHale, BlackRock
Many see the news as a strong signal that a U.S. bitcoin ETF will inevitably be green lit, which would help boost adoption of bitcoin. "If crypto trading transfers away from trading Coinbase directly and into ETFs (which, for many investors, might be the preferable way to get exposure), trading activity at Coinbase could decline further." Coinbase shares rallied nearly 15% Tuesday following the news, but the stock was down nearly 1% in trading Wednesday. "We believe a bitcoin ETF could increase competition and put pricing pressure on retail take rates. Plus, COIN's reliance on bitcoin revenue has only increased, from 31% of transaction revenue in 2Q22 to nearly 40% in 2Q23."
Persons: Bitcoin, , Benjamin Budish, Coinbase, Mizuho, Dan Dolev, Dolev, Mark Palmer, Palmer, Michael Bloom Organizations: U.S . Securities, Exchange Commission, U.S ., Appeals, SEC, Barclays, ETF Locations: U.S, Bitcoin, 2Q22, 2Q23
While this reads through positively for spot BTC ETF approvals, it remains unclear if this will be a net positive for Coinbase's P & L." Citi reiterates FedEx as a top pick Citi said FedEx has "parcel pricing power." Wells Fargo reiterates Spotify as buy Wells said it's standing by its overweight rating on shares of the streaming company. Citi reiterates Apple as buy Citi said it's bullish heading into Apple's iPhone event on Sept. 12. Wells Fargo reiterates Netflix as overweight Wells said it's standing by its overweight rating on the streaming giant. "We initiate coverage of Atour with an Overweight rating and a price target of US$36, implying > 80% potential upside."
Persons: Morgan Stanley downgrades Centene, Morgan Stanley, TD Cowen downgrades Ambarella, Wells, it's, Bernstein, Melius, Guggenheim, Tesla, Evercore Organizations: Wednesday, Barclays, SEC, BTC, Citi, FedEx, UPS, Transports, FLNC's Services, HSBC, Spotify, Apple, Texas, Rockwell Automation, ROK, UW, Netflix, Nvidia, Bank of America, Google, Tesla, Energy Locations: China, Europe, Ohio Utica, Oklahoma
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailA bitcoin ETF is extremely important for the institutional adoption of crypto: Coinbase's ShirzadFaryar Shirzad, Coinbase chief policy officer, and CNBC's Eamon Javers join 'The Exchange' to discuss regulatory changes in the crypto world, how Coinbase stands to profit from a bitcoin ETF, and protecting investors from the downside of bitcoin volatility.
Persons: CNBC's Eamon Javers
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