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Without ever clicking a mouse or touching a screen, Mark selected this command on his computer simply using signals from his brain. “I figured I had two choices: I could wallow in self-pity, or I could pick myself up by the bootstraps and do what I could to help,” Mark said. Synchron’s brain implant, the one Mark has, is called a Stentrode and consists of a stent with electrode sensors that can detect electrical brain activity. That external transmitter sits right above the internal transmitter and carries the signal from Mark’s brain to the computer almost instantaneously. Earlier this month, Musk also said Neuralink’s first human trial participant can control a computer mouse with their brain.

Persons: Sanjay Gupta’s, Erin Burnett OutFront, CNN —, Mark, Lou Gehrig’s, ” Mark, Elon Musk, ”, “, Sanjay Gupta, Synchron, Tom Oxley, hardwired, he’s, Mark didn’t, “ We’d, Maria Nardozzi, ” Oxley, CNN Mark, Musk’s Neuralink, Oxley, António Guterres, ” Elon Musk, Gonzalo Fuentes, Neuralink, Musk, Hope Organizations: CNN, BCI, US Food and Drug Administration, Netflix, US Securities and Exchange Commission, United Nations, Reuters, SpaceX Locations: Neuralink, UNESCO’s, Pennsylvania

☆ Bitcoin to the moon? Here’s why it’s near an all-time high
▼ + stars: | 2024-02-28 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +2 min

And with Wednesday’s gains, it’s nearing its all-time high of around $69,000 set in November 2021, the last time bitcoin traded above $60,000. The rally is partly driven by billions of dollars flowing into the cryptocurrency after the US Securities and Exchange Commission green lit bitcoin exchange-traded funds last month. The other major factor at play is the upcoming “halving” of bitcoin. Halving refers to the built-in feature of bitcoin that automatically reduces the rate of new coins entering circulation. It takes place roughly every four years and, in theory, pushes the price of bitcoin higher because it creates more scarcity of an already finite currency.

Persons: bitcoin, Jamie Dimon, Brian Armstrong, — Brian Armstrong 🛡️, C oinbase, alf l ater, Organizations: New, New York CNN, JPMorgan, it’s, US Securities and Exchange Commission Locations: New York

☆ Shein is considering moving its massive IPO from New York to London amid scrutiny over its supply chains and ties to China
▼ + stars: | 2024-02-27 | by ( Huileng Tan | ) www.businessinsider.com time to read: +2 min

Fast-fashion giant Shein is considering moving its IPO from New York to London. US lawmakers have cited concerns over Shein's supply chain and its ties to the Chinese Communist Party. AdvertisementFast-fashion brand Shein may move its initial public offering, or IPO, from New York to London, Bloomberg reported on Tuesday. It was seeking a valuation of $80 billion to $90 billion, Bloomberg reported at the time. This would put it just behind Porsche's $9.1 billion IPO in 2021, per Bloomberg records.

Persons: —, confidentially, It's, Shein, Marc Rubio Organizations: SEC, Chinese Communist Party, Service, Bloomberg, US Securities and Exchange Commission, Business Locations: New York, London, China, Singapore, Hong Kong, Xinjiang

☆ In China’s battle of the lattes, Luckin Coffee keeps beating Starbucks
▼ + stars: | 2024-02-26 | by ( Laura He | ) edition.cnn.com time to read: +5 min

Luckin, which already calls itself China’s biggest coffee chain, says it had surpassed Starbucks in mainland China by number of outlets in 2019. By the end of 2023, Luckin had 16,218 stores in China, nearly double its 2022 count of more than 8,200. Starbucks’ outlets in China are entirely company-owned. The number of branded coffee shops in China jumped 58% in the past twelve months, reaching 49,691 outlets, according to a December report by World Coffee Portal. Making a comebackBy 2019, the company had outnumbered Starbucks stores in China, with more than 4,500 outlets, according to the company.

Persons: Luckin, ”, Jinyi Guo Organizations: Hong Kong CNN, Nasdaq, Starbucks, CNN, International Coffee Organization, Daxue Consulting, Visual China, Centurium, US Securities and Exchange Commission Locations: China, Hong Kong, Singapore, Xiamen, United States, Beijing, New York, American

☆ JPMorgan CEO Jamie Dimon sells off $150 million of shares in first-ever sale since taking over the banking giant
▼ + stars: | 2024-02-24 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +1 min

JPMorgan CEO Jamie Dimon sold off $150 million of shares on Thursday. It's the first time in Dimon's 18 years leading the company that he's sold any shares. AdvertisementThe CEO of JPMorgan Chase on Thursday sold $150 million worth of shares in the banking giant, his first-ever sale since taking over the company 18 years ago. According to a filing with the US Securities and Exchange Commission, Jamie Dimon offloaded about 822,000 shares in the sale. He still holds about 7.7 million shares in the company, Bloomberg reported.

Persons: Jamie Dimon, It's, he's, Dimon, —, JPMorgan Chase Organizations: Service, JPMorgan, US Securities and Exchange Commission, Bloomberg, Business Locations: Dimon's

☆ Bitcoin stages a $1 trillion comeback
▼ + stars: | 2024-02-20 | by ( Anna Cooban | ) edition.cnn.com time to read: +2 min

London CNN —Bitcoin is back with a $1 trillion dollar bang. In contrast to traditional currencies, the supply of bitcoin is limited and is expected to peak in 2140, according to the price-tracking website for cryptocurrencies. The value of bitcoin has risen nearly 13% since January 10, when US regulators gave the green light to investment firms wishing to offer such funds. In January, before approving bitcoin exchange-traded funds, Gary Gensler, chair of the US Securities and Exchange Commission, said on X: “A number of major platforms & crypto assets have become insolvent and/or lost value. Investments in crypto assets continue to be subject to significant risk.”

Persons: London CNN — Bitcoin, ” Gareth Rhodes, Gary Gensler, ” Organizations: London CNN, cryptocurrencies, CNN, New York State Department of Financial Services, US Securities and Exchange Commission Locations: CoinMarketCap, bitcoin

☆ Don’t ‘surreptitiously’ use Americans’ data to train AI, FTC warns businesses
▼ + stars: | 2024-02-14 | by ( Brian Fung | ) edition.cnn.com time to read: +2 min

Washington CNN —US companies may find themselves under federal scrutiny if they “quietly” try to funnel customers’ personal information into training artificial intelligence models, the government warned this week. The warning by the Federal Trade Commission, the nation’s top privacy and consumer protection agency, highlights the enormous value of Americans’ personal data. “You may have heard that ‘data is the new oil,’” the agency said, referencing an adage describing the way personal information is a critical input powering the machinery of Big Tech. “There is perhaps no data refinery as large-capacity and as data-hungry as AI.”Many companies disclose how they use customer or user information in their privacy policies. But simply updating a privacy policy to say that a company will now use personal data collected for other purposes to train AI isn’t transparent enough and could violate the law, the FTC said.

Persons: “, Gary Gensler Organizations: Washington CNN, Federal Trade Commission, Netflix, Big Tech, FTC, Securities and Exchange Commission

☆ Bitcoin euphoria is back as investors prepare for the quadrennial ‘halving’
▼ + stars: | 2024-02-13 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

There are a few key forces forces driving the latest bitcoin euphoria, including an influx of money from investors in newly launched bitcoin exchange-traded funds and excitement over the halving, when the rate of bitcoin production is slashed. “Which is exciting because if history rhymes, the next 12-18 months is going to be a scorcher for crypto.”The halving hypeThe halving, also called the “halvening,” is a foundational concept in the bitcoin philosophy. In 2016, it was about almost 800% over that two-year period; for the 2020 halving, investors saw a 700% gain. The imminent bitcoin halving is setting up a grand chess game in the markets, Henry Robinson, co-founder of Decimal Digital Currency, said in an email. The timing of this year’s halving is also significant, coming just a few months after the US Securities and Exchange Commission approved the first spot bitcoin ETFs.

Persons: New York CNN —, Bitcoin, bitcoin, ”, Antoni Trenchev, Gareth Rhodes, bitcoin’s, Rhodes, Henry Robinson, ” Robinson, “, it’s Organizations: New, New York CNN, New York State Department of Financial Services, Decimal, US Securities and Exchange Commission, BlackRock, Fidelity, Bloomberg Locations: New York, bitcoins

☆ Don’t let AI hype lead you into illegal ‘AI-washing,’ SEC chair warns companies and investment advisers
▼ + stars: | 2024-02-13 | by ( Brian Fung | ) edition.cnn.com time to read: +2 min

Publicly traded companies that misleadingly or untruthfully promote their use of artificial intelligence risk engaging in “AI-washing” that can harm investors and run afoul of US securities law, said SEC Chair Gary Gensler in a speech on Tuesday. They also shouldn’t lie about whether they use an AI model or how they use AI in specific applications, Gensler added. One would be the intentional use of AI to facilitate securities fraud, Gensler said Tuesday. The SEC could target those who deploy AI in ways that create reckless or knowing disregard for the risks to investors, Gensler said. He said the SEC could also investigate those who place fake orders in violation of securities law, or investment advisers who place their own interests ahead of their clients’.

Persons: Gary Gensler, “ We’ve, ” Gensler, Gensler, Alvaro Bedoya Organizations: Washington CNN, Securities and Exchange Commission, Publicly, SEC, Yale Law School, Federal Trade Commission

☆ US judge orders Elon Musk to testify in SEC’s Twitter probe
▼ + stars: | 2024-02-12 | by ( ) edition.cnn.com time to read: +1 min

CNN —A federal judge ordered Elon Musk to testify again in the US Securities and Exchange Commission’s probe of his $44 billion takeover of Twitter, giving the regulator and the billionaire a week to agree on a date and location for the interview. Musk fought the SEC’s bid to interview him, saying it had already done so twice, and accused the regulator of harassment. To settle that case, Musk agreed that a Tesla lawyer would vet his tweets about the electric vehicle maker. The SEC sued him again in 2019 for allegedly breaching that provision. Musk has asked the U.S. Supreme Court to review the agreement, saying it violates his constitutional right to free speech.

Persons: Elon Musk, Laurel Beeler’s, Musk, Beeler Organizations: CNN, US Securities, Exchange, Twitter, SEC, SpaceX, ”, U.S, Supreme

☆ Premarket stocks: Wall Street is worried about another regional banking crisis
▼ + stars: | 2024-02-06 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

But while the last crisis was all about interest rate risk, this one revolves around the $20 trillion commercial real estate market. What’s happening: After decades of growth bolstered by low interest rates and easy credit, commercial real estate has hit a wall. The increase was driven partly by expected losses on commercial real estate loans, it said. “As losses from a [commercial real estate] loan portfolio accumulate, they can spill over into the broader financial system,” they wrote. “There’s some smaller and regional banks that have concentrated exposures in these areas that are challenged and we’re working with them,” he said.

Persons: It’s, Goldman Sachs, Anna Cooban, Janet Yellen, Jerome Powell, Gary Gensler, ”, Chip Somodevilla, She’s, Powell, “, ” McDonald’s, McDonald’s, Jordan Valinsky, Samantha Murphy Kelly, “ We’ve Organizations: CNN Business, Bell, New York CNN, New York Community Bancorp, US Regional Bank, Japan’s Aozora Bank, Deutsche Bank, Canadian Public Pension Investment Board, Boston Properties, US Securities and Exchange, Financial, Biden, Senate, CBS, Verizon, Old Telephone Service, landlines, UK, Consumers, CNN, California Public Utilities Commission Locations: New York, Manhattan, Boston, Washington ,, East, United States, California, France, California ”

☆ Mark Zuckerberg made $29 billion this morning after Meta stock makes record surge
▼ + stars: | 2024-02-02 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +2 min

New York CNN —Mark Zuckerberg’s net worth increased by more than $29 billion between your morning coffee and your lunch break. Shares of Meta (META) jumped more than 21% on the news of a quarterly dividend of $0.50 per share to be paid out on March 26 to shareholders of record as of February 22. This upswing plasters over potential harm to Meta stock after Zuckerberg, alongside other social media company heads, testified Wednesday before the Senate Judiciary Committee about the risks their products pose to young people. Zuckerberg was pressed about internal Meta documents that suggested the company estimates the lifetime value of a teen user at $270, as well as Meta’s transparency regarding how its monetizes user data. Zuckerberg apologized to the parents in attendance, who say their children were victims of social media.

Persons: Mark Zuckerberg’s, —, Zuckerberg, they’re, “, ” Organizations: New, New York CNN, Meta, US Securities and Exchange, Committee Locations: New York

☆ The WWE knew Vince McMahon was a liability. So why did it bring him back after his scandalous departure?
▼ + stars: | 2024-01-29 | by ( Kyle Feldscher | David Goldman | ) edition.cnn.com time to read: +8 min

CNN —WWE’s parent company knew Vince McMahon — the founder of the wrestling behemoth — was a potential liability. That risk was realized Thursday when a former WWE employee accused McMahon of sexual assault and trafficking in a disturbing and graphic lawsuit. The company said McMahon has since repaid the company about $20 million for misappropriated corporate funds and for the legal fees TKO and WWE paid to investigate McMahon. Vince McMahon, Jr., was more akin to a king than a business executive in the world of WWE, his fingerprints on everything. “I have pledged my complete cooperation to the investigation by the special committee, and I will do everything possible to support the investigation,” McMahon said in a statement at the time.

Persons: Vince McMahon, —, McMahon, ”, Janel Grant, behemoth McMahon, “, Nick Khan, McMahon’s, Donald Trump’s, Donald J, ” McMahon, McMahon, — Vince McMahon, Vince McMahon’s, Stephanie, Jr, reinstalling, Stephanie McMahon —, Khan, What’s, Grant, CNN’s Sam Delouya, Elizabeth Wagmeister Organizations: CNN, WWE, Companies, US Securities and Exchange Commission, SEC, Wall Street, Trump Foundation, UFC, Endeavor, Securities and Exchange Commission

☆ Premarket stocks: Crypto fans got what they wanted. So why is bitcoin falling?
▼ + stars: | 2024-01-25 | by ( Krystal Hur | ) edition.cnn.com time to read: +5 min

So, why is the price of bitcoin falling, even after investors got what they wanted? Part of the reason is likely a “buy the rumor, sell the news” mentality, according to Antoni Trenchev, co-founder of crypto lender Nexo. Interestingly, bitcoin ETF activity actually shows net buying. Greyscale’s fund is the largest bitcoin ETF, holding roughly $20 billion in assets. ETFs hold just a small portion of the bitcoin that’s traded, says Eric Balchunas, senior ETF analyst at Bloomberg Intelligence.

Persons: cryptocurrencies, bitcoin, Antoni Trenchev, that’s, Eric Balchunas, ”, Bitcoin, FTX, “ We’re, Craig Erlam, vibing, Bryan Mena, Read, It’s, Janet Yellen, Matt Egan, Yellen, Biden Organizations: CNN Business, Bell, New York CNN —, US Securities and Exchange, SEC, Investors, Bloomberg Intelligence, CNN, Economic, of Chicago, Treasury Locations: New York, America, Chicago, Covid

☆ SEC chair gives in to a bitcoin ETF, but the hostility against cryptocurrency is still there
▼ + stars: | 2024-01-11 | by ( Bob Pisani | ) www.cnbc.com time to read: +3 min

Gary Gensler, chairman of the US Securities and Exchange Commission (SEC), during an interview in Washington, DC, US, on Thursday, July 27, 2023. Gensler was faced with the difficult task of explaining why the SEC has reversed its position on bitcoin ETFs. Circuit held that the commission failed to adequately explain its reasoning when it turned down Grayscale's proposed bitcoin ETF. In large part, the conflicts are based on his claim that most crypto assets are securities that come under the purview of the SEC. While we approved the listing and trading of certain spot bitcoin ETP shares today, we did not approve or endorse bitcoin."

Persons: Gary Gensler, Gary Gensler's, Gensler, Grayscale's, I've, —, bitcoin Organizations: US Securities and Exchange Commission, SEC, Securities, Exchange, U.S, Appeals, Investment Locations: Washington , DC

☆ Israeli regulators are looking into unusual trading prior to October 7 attack
▼ + stars: | 2023-12-05 | by ( Matt Egan | ) edition.cnn.com time to read: +3 min

CNN —Regulators in Israel are aware of and reviewing research that suggests some unknown traders may have had advance knowledge of the October 7th Hamas attacks. “This subject is known and is being thoroughly checked,” Sivan Carmon, a spokesperson for the Israel Securities Authority, told CNN in a statement on Tuesday. The ISA, the Israeli equivalent of the US Securities and Exchange Commission, is charged with fighting securities fraud, insider trading and other market abuse. Experts urged regulators to investigate the matter, including by looking at nonpublic market data that researchers did not have access to. “Of course, that’s quite different from trading based on inside knowledge of terrorist attacks,” Whitehead said.

Persons: ” Sivan Carmon, hasn’t, Yaniv Pagot, ” Pagot, ” Charles Whitehead, Whitehead, ” Whitehead, ” – CNN’s Gayle Harrington Organizations: CNN, Regulators, Israel Securities Authority, Columbia University, New York University, ISA, US Securities and Exchange Commission, Industry Regulatory Authority, Israel, Fund, Tel Aviv Stock Exchange, Bank Leumi, Cornell Law School Locations: Israel, Gaza, San Francisco

☆ Unknown traders appear to have anticipated October 7 Hamas attack, research finds
▼ + stars: | 2023-12-04 | by ( Matt Egan | ) edition.cnn.com time to read: +6 min

Short selling is a way to bet against the value of a security. “Our findings suggest that traders informed about the coming attacks profited from these tragic events,” the authors wrote. The research found that on October 2, just five days before the Hamas attack, “nearly 100% of the off-exchange trading volume in the MSCI Israel ETF … consisted of short selling.”“Days before the attack, traders appeared to anticipate the events to come,” the professors wrote. In the days before the attack, bets against Israeli securities traded on the Tel Aviv Stock Exchange “increased dramatically,” the paper said. “Taken together, our evidence is consistent with informed traders anticipating and profiting from the Hamas attack,” the authors wrote.

Persons: hasn’t, Jonathan Macey, ”, Robert Jackson Jr, Joshua Mitts, “, Mitts, it’s “, ” Mitts, Jackson, Bill Bagley, Charles Whitehead, Whitehead, – Organizations: New, New York CNN, Columbia University, New York University, Israel, Fund, Yale Law School, CNN, “ Regulators, SEC, NYU, …, US Securities and Exchange Commission, Israeli Securities Authority, Reuters, Financial Industry Regulatory Authority, Tel Aviv Stock Exchange, Bank, Cornell Law School Locations: New York, Israel, Gaza, Columbia, Bank Leumi

This raised doubts over whether SEC rules would survive a court challenge. An SEC spokesperson declined to comment on Scope 3 emissions and when the climate disclosure rules will be finalized. Even some advocates of climate action have expressed concerns about the logistical challenges of accurately calculating Scope 3 emissions. For many businesses, however, Scope 3 emissions represent more than 70% of their carbon footprint, according to consulting firm Deloitte. Some voluntary initiatives such as the International Sustainability Standards Board already specify that it is best practice to disclose Scope 3 emissions.

Persons: Rebecca Cook, Gary Gensler, Joe Biden's, Biden, Gensler, Jarrett Renshaw, Douglas Gillison, Isla Binnie, Chris Prentice, Ross Kerber, Simon Jessop, Michelle Price, Greg Roumeliotis, David Gregorio Our Organizations: REUTERS, U.S . Securities, Exchange Commission, SEC, Union, Republican, Commission, Democrat, Deloitte, Gensler, Republican SEC, Sustainability, U.S . Chamber, Commerce, Thomson Locations: Detroit , Michigan, U.S, CALIFORNIA, California, Washington, New York, Boston, London

☆ X fails in court to terminate FTC privacy order or block Musk’s deposition
▼ + stars: | 2023-11-17 | by ( Brian Fung | ) edition.cnn.com time to read: +2 min

The 11-page order by US Magistrate Judge Thomas Hixon denies X’s attempt to invalidate a longtime privacy settlement with the FTC that forms the basis for the investigation. For the same reason, Hixon said he could not block the FTC from trying to depose Musk as part of the probe. Questions about whether the company has complied with the 2011 order arose in a significant way in 2022. And the investigation has only intensified since Musk’s takeover of the company, prompting X to protest what it has called government overreach and harassment of Musk. The FTC has said that it is attempting to carry out its mission to ensure X is complying with its legal obligations.

Persons: Elon Musk, Judge Thomas Hixon, Hixon, Musk, Musk’s, Peiter “ Mudge ” Zatko, X, X didn’t Organizations: CNN, Federal Trade Commission, Court, Northern, Northern District of, US Securities and Exchange Commission, Twitter, FTC Locations: Northern District, Northern District of California

☆ Donald Trump's Truth Social loses tens of millions of dollars this year
▼ + stars: | 2023-11-15 | by ( Polly Thompson | ) www.businessinsider.com time to read: +3 min

Donald Trump launched Truth Social after he was banned from X/Twitter following the January 6 riots. AdvertisementDonald Trump's social media platform, Truth Social, has lost tens of millions of dollars this year, according to SEC filings released Monday. AdvertisementDigital World has now asked investors to extend the deadline for the Truth Social deal. Although the former president's X account has since been reinstated, he's upheld an exclusivity deal to post first on Truth Social. AdvertisementHowever, Truth Social has struggled to attract the same level of interest compared with social media platforms.

Persons: Donald Trump, —, Donald, Trump, Devin Nunes, he's Organizations: Service, SEC, World, Corp, Truth Social, Trump Media, Technology, Department of Justice, Truth, CNBC, Twitter, Big Tech, Social, Trump, Forbes

☆ McCormick wants the US to divest from China. As a hedge fund manager, he oversaw investments in Chinese companies grow more than a thousand-fold
▼ + stars: | 2023-11-04 | by ( Em Steck | ) edition.cnn.com time to read: +5 min

However, as the head of the world’s largest hedge fund, McCormick oversaw massive investments into US exchange traded Chinese companies and holdings, according to a CNN KFile review of the hedge fund’s holdings. I held deep reservations about Bridgewater’s exposure to the moral and patriotic hazards of doing business in China,” McCormick said in September 2023 before officially launching his campaign. That amounts to a 108,000% increase in Chinese holdings over a five-year period. In 2017, Bridgewater reported investing in just one US exchange traded Chinese company; by the final quarter of 2021, its holdings included 47 Chinese companies. McCormick’s hedge fund also held an additional $779 million indirectly in Chinese companies through their investments in exchange traded funds.

Persons: David McCormick’s, McCormick, ” McCormick, Hugh Hewitt’s, CNN’s KFile, Bush, Mehmet Oz, Oz, Democrat John Fetterman, Bridgewater, Elizabeth Gregory, “, he’s, Ray Dalio –, thievery ”, ” Organizations: New, New York CNN, US, CNN, CCP, Bridgewater Associates, US Securities and Exchange, Bridgewater, Republican Party, Republican, Democrat, Chinese Communist Party, US Commerce Department Locations: New York, Pennsylvania, hardliner, China, McCormick’s, United States, Xinjiang, ”

☆ Spora Health's founder painted a rosy portrait of his healthcare startup. The reality is more complicated.
▼ + stars: | 2023-10-30 | by ( ) www.businessinsider.com time to read: +14 min

The way Dan Miller told it, his startup Spora Health was crushing it, providing high-quality care to "thousands" of people online. The startup had secured at least one big contract, with Apple, according to three former Spora employees and another source close to Spora. Four of them told Insider they either no longer worked with Spora or hadn't seen Spora patients in a year. Two doctors listed on Spora's website as "featured Spora providers" also told Insider that they no longer worked for the startup. Another former clinician said she only ever treated a handful of Spora patients.

Persons: Dan Miller, Miller, Spora, it's, UnitedHealthcare, Aetna didn't, paychecks, hadn't, he's, It's, —, we've, " Miller, Shelby Livingston, Rob Price, Emmalyse Brownstein, Ryan Pickrell, Gloria Dawson, Stephanie Hallett, Alcynna Lloyd, Hayley Peterson Organizations: Company, TechCrunch, Spora, US Securities and Exchange Commission, Apple, Aetna, Stanford Graduate School of Business, Human Ventures, MaC Venture, SEC Locations: Spora, Level's, slivingston@insider.com

☆ Bitcoin is surging again
▼ + stars: | 2023-10-24 | by ( David Goldman | ) edition.cnn.com time to read: +2 min

BlackRock applied in June to register a bitcoin spot ETF, which is pending approval. A BlackRock bitcoin ETF would give the cryptocurrency a new sense of legitimacy. “However, it may appear as part of BlackRock’s preparations to launch the ETF soon.”Other companies have also applied for approval to launch similar bitcoin ETFs, including Greyscale Investments. As investors look to diversify their portfolios in uncertain times, some turn to bitcoin, ironically as a kind of digital safe haven. Sometimes dubbed “digital gold,” bitcoin has become a way for investors to branch out beyond traditional stocks and bonds.

Persons: New York CNN —, bitcoin, ”, Samer Organizations: New, New York CNN, BlackRock, Depository Trust, Clearing Corp, Nasdaq, Reuters, Greyscale Investments, US Securities and Exchange Commission, Greyscale’s, DC, of Appeals, SEC, “ Locations: New York, BlackRock, bitcoin

☆ Coinbase picks Ireland as its main EU regulatory hub as U.S. authorities go on the offensive
▼ + stars: | 2023-10-19 | by ( Ryan Browne | ) www.cnbc.com time to read: +6 min

If and when it is approved, Coinbase will have a universal "MiCA license" in Ireland, which it can then use to "passport" its services into Germany, France, Italy, the Netherlands and other EU countries. The rules will allow crypto companies to use one license in one country to operate across all 27 EU member states. Currently, Coinbase has an electronic money institution license and virtual asset service provider registration in Ireland; a crypto license in Germany; and national registrations in other EU member states including Italy, the Netherlands and Spain. Paul Grewal, Coinbase's chief legal officer, said that progress has been "slower" than he'd like when it comes to achieving crypto regulation in the U.S. "We're now seeing in court cases real questions being asked about the U.S. approach to crypto regulation and in particular securities regulation," he said.

Persons: Coinbase, Nana Murugesan, we've, Murugesan, Paul Grewal, isn't, Grewal, CNBC's Arjun Kharpal — Organizations: Getty, European Union, CNBC, Central Bank of Ireland, EU, U.S . Securities, Exchange Commission, SEC Locations: Crypto, Dublin, Ireland, Germany, France, Italy, Netherlands, Spain, U.S, San Francisco, United States, Central, Northern, Western Europe, North America, Europe, headcount

☆ This Morgan Stanley veteran is ready to be CEO — it just might be somewhere else
▼ + stars: | 2023-10-17 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +16 min

Morgan Stanley CEO James Gorman plans to retire by May 2024. "Cross-pollinating key leaders across our major businesses further knits the Morgan Stanley culture," Gorman wrote in a memo at the time. Morgan Stanley, which was the lead underwriter, had to step in to prop up the stock. In 2010, Morgan Stanley was picked as one of two lead underwriters — the other being JPMorgan — for the IPO of General Motors. With Morgan Stanley at the top of its game, breaking up this well-oiled team could be disastrous.

Persons: Morgan Stanley, James Gorman, Ted Pick, Andy Saperstein, Dan Simkowitz, He's, Simkowitz, Eaton Vance, Pick, Morgan, Getty, Dan, doesn't, Gorman, Morgan Stanley's, Saperstein, executive's protégé, Andy, Alex, Brown, Ted, she'd, Simkowitz's, Dean Witter Reynolds, Eaton, Calvert, Ruth Porat, Bob Scully, Fannie Mae, Freddie Mac, Will Dotson, Dan Akerson, TIMOTHY A, CLARY, Erik Gordon, Dodd, Frank, David Bieri, Gonzalo Marroquin, Patrick McMullan, Paul Taubman, Colm Kelleher, coheads, John Mack, Phil Purcell, Hayley Cuccinello Organizations: Disney, Harvard, McKinsey, Columbia Business School, Maccabiah Games, Team USA, Maccabi USA, Trenton Almgren, Davis, Lucent, Verizon, Mesa West Capital, JPMorgan, Calvert Research, Management, Facebook, Massachusetts Securities Division, Treasury, JPMorgan —, General Motors, Government Motors, General, New York Stock Exchange, Getty, University of Michigan's Ross School of Business, Citigroup, Virginia Tech, US Securities and Exchange Commission, United States Attorney's Office, Southern, of Locations: Bloomington , Indiana, Trenton, New York, Tokyo and Hong Kong, Boston, Washington, Switzerland, of New York, hcuccinello@insider.com

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