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☆ Crypto investors are bracing for a busy quarter with the Bitcoin halving, ether ETF updates and potential rate cuts
▼ + stars: | 2024-03-30 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +6 min

The most important driver in second quarter for bitcoin and crypto, however, could be the Federal Reserve decision on interest rate cuts. Traders are now pricing in a roughly 61% chance of a first Fed rate cut taking place in June, according to the CME FedWatch Tool . Demand has increased from 40,000 bitcoin at the start of the year to 213,000 bitcoin currently, largely driven by ETF buying ahead of the late April Bitcoin halving, according to CryptoQuant. However, the SEC's decision on whether or not to allow spot ether ETFs to trade, due in May, will "very likely" be market moving, he added. "If it's not priced in today, then it very likely will be a market moving event if it happens," he said.

Persons: Bitcoin, Zach Pandl, Pandl, –, bitcoin, Julio Moreno, Chris Kuiper, — CNBC's Ganesh Rao Organizations: Securities and Exchange Commission, Federal, Metrics, Fidelity Digital Assets, CNBC, Fidelity, SEC Locations: U.S, BlackRock

☆ The Age of AI BS: Companies Are Exaggerating What Their Tech Can Do
▼ + stars: | 2024-03-27 | by ( Emily Stewart | ) www.businessinsider.com time to read: +8 min

The Securities and Exchange Commission's chair, Gary Gensler, recently warned about "AI washing," or companies giving off a false impression that they're using AI so they can amp up investors. And while some companies are simply exaggerating the tech they do legitimately use, others have taken it a step further. Most companies aren't being accused of breaking the law with their AI chatter, but they're definitely posturing around it. An analysis from Goldman Sachs found that 36% of S&P 500 companies mentioned AI in their fourth-quarter earnings calls, a record high. Even the Big Tech companies that are really moving and shaking in AI are on shifty ground at times.

Persons: Gary Gensler, Delphia, Goldman Sachs, Scott Kessler, Elon Musk, Adolf Hitler, it's, ChatGPT, Daron Acemoglu, Sam Altman, Ed Zitron, he's, It's, overselling, Angelo Zino, Microsoft's, Zino, Acemoglu, Emily Stewart Organizations: Securities, Exchange, SEC, Woodstock, Third, MIT, Prosperity, Nvidia, AMD, Broadcom, CFRA Research, Big Tech, Tech, Microsoft, Business Locations: San Jose , California

☆ Companies Are Luring Investors by Exaggerating What Their AI Can Do
▼ + stars: | 2024-03-27 | by ( Emily Stewart | ) www.businessinsider.com time to read: +8 min

The Securities and Exchange Commission scored a major win in its lawsuit against Coinbase on Wednesday, as a judge ruled that its claim that the cryptocurrency exchange engaged in unregistered sales of securities could be heard by a jury at trial. Coinbase shares fell around 2% on news of the ruling in Manhattan federal court rejecting its bid to dismiss the SEC's complaint. The regulator first filed suit against Coinbase in June, alleging the company was acting as an unregistered broker and exchange. "The Court finds that the SEC adequately alleges that Coinbase, through its Staking Program, engaged in the unregistered offer and sale of securities," Failla wrote. In June, SEC Chair Gary Gensler said that trading platforms like Coinbase "call themselves exchanges" but were "commingling a number of functions."

Persons: Coinbase, Katherine Polk Failla, Failla, Paul Grewal, Grewal, Gary Gensler, Gensler Organizations: The Securities, Exchange Commission, Coinbase, SEC, New York Stock Exchange, CNBC Locations: Manhattan, U.S

☆ Bitcoin's Wild Price Booms and Busts Are Going to Continue Forever
▼ + stars: | 2024-03-06 | by ( Emily Stewart | ) www.businessinsider.com time to read: +8 min

The main explanation for the recent gain in bitcoin's price is the Securities and Exchange Commission's begrudged blessing of spot bitcoin exchange-traded funds, investment vehicles that track bitcoin's price. As bitcoin ETF providers have to invest in the underlying assets — bitcoins — demand for those assets increases. "The speed of the come-up is much faster than I thought," he said, adding that he was specifically surprised at retail-trader activity in the bitcoin ETFs. (Also, not everyone agrees it will be good for bitcoin's price.) Or maybe, just maybe, the latest run will cement bitcoin's future as a more stable part of people's investment portfolios.

Persons: Bitcoin's, bitcoin, David Yermack, University's, who've, BlackRock's, Eric Balchunas, James Butterfill, it's, Butterfill, shiba inu, Nic Carter, Carter, Bitcoin, Yermack, Emily Stewart Organizations: bitcoin, University's Stern School of Business, Securities, Exchange, SEC, Wall, Fidelity, University's Stern School of, Bloomberg Intelligence, Federal Reserve, New York Community Bancorp, Castle, Ventures, Business Locations: New, bitcoin, BlackRock, David Yermack , New

☆ Companies are required to disclose their climate impact, SEC says
▼ + stars: | 2024-03-06 | by ( Allie Kelly | Catherine Boudreau | ) www.businessinsider.com time to read: +6 min

Under the disclosure, public companies will have to release their greenhouse gas emissions, environmental risk impacts, and risk management strategies. Climate disclosure will create a standardized way for companies to report environmental impactPreviously, companies only disclosed their climate impact information on a voluntary basis. Bryan McGannon, managing director of the nonprofit sustainable investment forum US SIF, said the climate disclosure is "a really good first step" toward increasing transparency. The SEC might also be facing litigation from corporate America, which hopes to challenge the new climate disclosure in court, McGannon said. Some companies might be concerned about the potentially high costs of gathering data and complying with the disclosure, SEC officials said.

Persons: Gary Gensler, Steven Rothstein, Rothstein, Bryan McGannon, McGannon, Gavin Newsom Organizations: Service, US Securities and Exchange Commission, Business, Economic, SEC, BI, Ceres Accelerator, Sustainable Capital, US, CNBC, Clean Energy, Jobs Locations: America, California, Michigan

☆ What the SEC climate disclosure rule may mean for investors
▼ + stars: | 2024-03-04 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

Climate disclosures would be made in annual filings companies make to the SEC, such as a Form 10-K, and in registration statements filed before an initial public offering. "I think climate disclosures have largely become table stakes for the investment community," said Lindsey Stewart, director of investment stewardship research at Morningstar. Current climate disclosures are 'uncommon'Ships on the Panama Canal on August 21, 2023. Shipping experts fear such events could become the new normal as rainfall shortfalls highlight climate risks. The SEC proposal outlined three tiers of emissions disclosures: Scopes 1, 2 and 3.

Persons: Gary Gensler, Win Mcnamee, —, Lindsey Stewart, Daniel Gonzalez, Stewart, They'd, Rachel Curley, Hurricane Idalia, Christian Monterrosa, Cowen, Patrick McHenry, Sen, Tim Scott, Bill Huizenga, Chris Ratcliffe, They're Organizations: Securities, Exchange, Financial Services, General, Getty, The Securities, Exchange Commission, SEC, Morningstar, Panama Canal Authority, Shipping, Anadolu Agency, P Global, Corporations, U.S . Sustainable Investment, Hurricane, Bloomberg, Republicans, Economic, Deloitte Locations: Washington, Panama, U.S, Cedar Key , Florida, R

☆ The SEC votes this week on controversial climate change rule: Here's what's at stake
▼ + stars: | 2024-03-04 | by ( Bob Pisani | ) www.cnbc.com time to read: +9 min

The Scope 3 disclosure requirements have drawn strong criticism from many corporations, who claim the regulations are too burdensome. The climate disclosure rule was first proposed in March 2022. Since Congress has not passed major climate legislation for years, opponents of the SEC's climate rule will likely sue the SEC and cite West Virginia v. EPA, again arguing that Congress has not granted specific authority for the SEC to act on climate change. The disclosures required from the proposed SEC rule may shuffle the deck on companies that are considered "green" or "not so green." Arne Noack, manager of the Xtrackers S&P 500 ESG ETF and DWS Head of Systemic Investment Solutions for the Americas, will be the guest on ETF Edge at 1:10 p.m.

Persons: Gary Gensler, Gensler, overreach, Joe Biden, Kathleen McLaughlin, Arne Noack, Noack, Todd Sohn, He'll, Dave Nadig Organizations: SEC, U.S ., Banking, Housing, Urban Affairs, Capitol, Washington , D.C, The Institute, New York University School of Law, Environmental Defense Fund, Reuters, Securities, Exchange, Walmart, APA, EPA, Act, America, Corporate, Equity, Systemic Investment Solutions, Edge Locations: Washington ,, America, West Virginia, Virginia, ESG, Americas, ETFedge.cnbc.com

☆ Bitcoin firm MicroStrategy pops 27% in two days as company's crypto stake hits $11 billion
▼ + stars: | 2024-02-27 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +4 min

In this article MSTR Follow your favorite stocks CREATE FREE ACCOUNTMicroStrategy CEO Michael Saylor speaks at the Bitcoin 2021 Convention, a crypto-currency conference held at the Mana Convention Center in Wynwood on June 04, 2021 in Miami, Florida. MicroStrategy, along with its subsidiaries, now owns about 193,000 bitcoins worth $11 billion. watch nowInvestors have been increasingly bullish on the bitcoin trade following the SEC's approval of multiple spot bitcoin exchange-traded funds last month. "Institutional capital is still getting up to speed with bitcoin ETFs. For example, MicroStrategy has the ability to acquire bitcoin using proceeds from debt and equity issuances, the firm said.

Persons: Michael Saylor, Joe Raedle, MicroStategy, Andrew King, bitcoin, Bitcoin, Ryan Rasmussen, —, MicroStrategy, Cowen, CNBC's Dylan Butts, Ari Levy Organizations: Mana Convention, Getty, Bitwise Asset Management, Research, Benchmark Locations: Wynwood, Miami , Florida, bitcoin, Bitcoin

☆ BP exec's husband guilty of insider trading $1.8 million, snooped on her calls
▼ + stars: | 2024-02-25 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +3 min

The SEC said that Loudon's wife acknowledged occasionally discussing the acquisition with her husband in "normal" married-couple types of conversations. But over the next few months, Loudon, without telling his wife, accumulated 46,450 shares of TravelCenters, according to the U.S. attorney's office. But in March, the Financial Industry Regulatory Authority requested from BP a list of people who were "in the know" about the TravelCenters acquisition before it happened. "Loudon's wife responded that they would." Loudon's wife reported her husband's insider trading to her BP supervisor but she was later fired from the company.

Persons: Tyler Loudon, Alamdar Hamdani, Loudon, Mr, Peter Zeidenberg, Loudon's, Roth, TravelCenters Organizations: BP, Southern District of Texas, Securities and Exchange Commission, CNBC, Authorities, TravelCenters, SEC, Roth IRA, Financial Industry, Authority Locations: Southend, United Kingdom, America, Houston, Southern District, Loudon, Rome, TravelCenters

☆ Wall Street cheers Coinbase after its first quarterly profit in 2 years, but skepticism lingers
▼ + stars: | 2024-02-16 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +8 min

Wall Street is celebrating Coinbase after the crypto exchange operator posted its first quarterly profit in two years. Late Thursday, Coinbase posted earnings of $1.04 per share on $954 million of revenue for the fourth quarter. "Happy days are here again" for Coinbase, as Raymond James put it, but it's not clear for how long. "That said, we maintain our U/P rating given crypto market unpredictability, lack of revenue diversification, valuation, and continued legal overhang." JPMorgan, neutral, PT $95 "Management calls spot bitcoin ETFs [a] net positive but, we're still unconvinced," said JPMorgan's Kenneth Worthington.

Persons: Coinbase, haven't, bitcoin, Raymond James, Goldman Sachs, Goldman, Will Nance, revs, Jason Kupferberg, Benjamin Budish, EBITDA, underperform, Patrick O'Shaughnessy, we're, Kenneth Worthington, Keefe, KBW's Kyle Voigt, Oppenheimer, Owen Lau, Devin Ryan, Needham, John Todaro, Canaccord, Joseph Vafi, Michael Bloom Organizations: LSEG, U.S . Securities, Exchange Commission, " Bank of America, Bank of America, Barclays, JPMorgan, Management, SEC, Coinbase's, BTC Locations: U.S, Coinbase, Needham

☆ Elon Musk must testify in SEC probe of his Twitter takeover
▼ + stars: | 2024-02-12 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +2 min

Tesla and SpaceX CEO Elon Musk has to testify in a probe by the U.S. Securities and Exchange Commission concerning his 2022 acquisition of Twitter, a U.S. judge ordered in a court filing out Saturday. Musk closed his acquisition of Twitter in October 2022 in a deal worth roughly $44 billion, and has since rebranded it X. Musk, his attorney Alex Spiro and the SEC did not immediately respond to requests for comment. The settlement required Musk to have a "Twitter sitter" approve his tweets about his electric vehicle business before posting them. Attorneys for SpaceX argued in their suit that the very structure of the federal labor board violates the U.S. Constitution.

Persons: Elon Musk, Musk, Laurel Beeler, Alex Spiro, Tesla Organizations: SpaceX, U.S . Securities, Exchange Commission, Twitter, CNBC, SEC, U.S, Supreme, National Labor Relations Board, NLRB, Southern, Southern District of, Attorneys, . Constitution, Starbucks Locations: Warsaw, Poland, U.S, Southern District, Southern District of Texas, Brownsville, .

SAN FRANCISCO (AP) — A judge has ordered Elon Musk to testify for a third time as part of the Securities and Exchange Commission’s investigation into his $44 billion purchase of Twitter, now called X, in 2022. Magistrate Judge Laurel Beeler issued an order Saturday giving Musk, his team and the SEC a week to agree on a date and location for Musk’s testimony. Beeler said, however, that the court is enforcing the SEC's subpoena and that the testimony is “not unduly burdensome” for Musk. The SEC had given Musk the option to testify in Texas, where he lives. The SEC and a lawyer for Musk did not immediately respond to messages seeking comment on Monday.

Persons: —, Elon Musk, Judge Laurel Beeler, Beeler, ” Beeler, “, Musk Organizations: FRANCISCO, Securities, Exchange, Twitter, SEC, SpaceX, U.S, Constitution, San Locations: Northern California, Texas, San Francisco

☆ Republicans target SEC's proposed AI rule for financial advisors
▼ + stars: | 2024-02-06 | 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 EmailRepublicans target SEC's proposed AI rule for financial advisorsCNBC's Emily Wilkins joins 'Squawk Box' with the latest news out of Washington.

Persons: Emily Wilkins Locations: Washington

☆ Blockchain technology is 'the future of the internet', says key crypto investor Chris Dixon
▼ + stars: | 2024-01-29 | 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 EmailBlockchain technology is 'the future of the internet', says key crypto investor Chris DixonChris Dixon, Andreessen Horowitz general partner, joins 'Squawk Box' to discuss the ramifications of SEC's spot bitcoin ETFs decision, the NFT market, the state of crypto at large, future of crypto regulation, and more.

Persons: Chris Dixon Chris Dixon, Andreessen Horowitz

☆ Watch CNBC's full interview with Andreessen Horowitz general partner Chris Dixon
▼ + stars: | 2024-01-29 | 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 EmailWatch CNBC's full interview with Andreessen Horowitz general partner Chris DixonChris Dixon, Andreessen Horowitz general partner, joins 'Squawk Box' to discuss the ramifications of SEC's spot bitcoin ETFs decision, the NFT market, the state of crypto at large, future of crypto regulation, and more.

Persons: Andreessen Horowitz, Chris Dixon Chris Dixon

☆ Inside Tesla's make-or-break earnings report
▼ + stars: | 2024-01-24 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. In today's big story, we're previewing Tesla's make-or-break earnings report. And then there's the ultimatum Elon Musk issued to Tesla's board about wanting more voting rights or taking his AI projects elsewhere. Business Insider's Jennifer Sor has a roundup of what five Wall Street firms expect ahead of Tesla's earnings report. TeslaHow Musk pitches Tesla's year ahead will also be a telling signal, Nora told me.

Persons: —, Donald Trump, Stephen Lam, Elon Musk, Jennifer Sor, Nora Naughton, BI's, Tesla, Nora, Kiran Raichura, Raichura, Goldman Sachs, Kraft Heinz, Sam Altman, it's, Glenn Harvey, Eddie Trunk, Brooks Kraft, Staples Organizations: Service, New Hampshire Republican, Tesla, Reuters, Capital Economics, Monster Beverage, Google, Google Google, Netflix, BI, of Fame, Apple, IBM, Brooks, Brooks Kraft LLC, Getty

☆ Retail investors are worried bitcoin will plunge below $20,000 this year, Deutsche Bank survey says
▼ + stars: | 2024-01-23 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Crypto skeptics aren't changing their tune just because they can now buy bitcoin exposure through an exchange traded fund, according to a Deutsche Bank survey. Since the launch of the ETFs on Jan. 11, bitcoin has fallen about 20% to roughly $39,000, according to FactSet. So far, institutions have been slow to adopt the new funds in portfolios and retail investors aren't entirely convinced they need to, London-based Deutsche Bank analyst Marion Laboure said in a note Tuesday. Looking at bitcoin specifically, Deutsche said 39% of survey participants think it will stick around in the coming years, while 42% anticipate it will disappear. "The crypto world is gradually moving towards greater institutionalization as traditional financial players (tradFi) enter the market," Laboure said.

Persons: bitcoin, Marion Laboure, Deutsche, Laboure, Michael Bloom Organizations: Deutsche Bank, Securities and Exchange Commission, Binance, SEC Locations: London, U.S, Europe, FTX

☆ U.S. oil giant Exxon Mobil sues activist investors to prevent climate proposals
▼ + stars: | 2024-01-22 | by ( Sam Meredith | ) www.cnbc.com time to read: +1 min

ExxonMobil CEO Darren Woods speaks at the Asia-Pacific Economic Cooperation (APEC) Leaders' Week in San Francisco, California, on November 15, 2023. Exxon Mobil filed a lawsuit against U.S. and Dutch activist investors in a bid to stop them from submitting climate proposals during the oil giant's annual shareholder meeting. An Exxon Mobil win in the proceedings could have a chilling impact on future shareholder petitions. The Securities and Exchange Commission, the U.S. financial regulator, has overseen a growing number of environmental and social shareholder proposals during the past two proxy seasons. In an emailed statement, Exxon Mobil said "the breakdown of the shareholder proposal process, one that allows proponents to advance their agendas through a flood of proposals, does not serve the interests of investors."

Persons: Darren Woods Organizations: Economic Cooperation, APEC, Exxon Mobil, U.S, Northern, Northern District of, Arjuna, Securities, Exchange Commission Locations: Asia, San Francisco , California, U.S, Northern District, Northern District of Texas, Massachusetts, Amsterdam

☆ New details emerge about SEC's X account hack, including SIM swap
▼ + stars: | 2024-01-22 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +3 min

The U.S. Securities and Exchange Commission said on Monday that a SIM swap attack was to blame for the breach of its official account on X (formerly Twitter) earlier this month. With access to the phone number, the unidentified individual then reset the account password. "While multi-factor authentication (MFA) had previously been enabled on the @SECGov X account, it was disabled by X Support, at the staff's request, in July 2023 due to issues accessing the account," the SEC said in the statement. The agency had the ability to switch two-factor authentication back on for their X account and were not reliant on X to do so. X owner and CTO Elon Musk mocked the SEC, an agency he has clashed with for years, after the agency's account on X was breached.

Persons: Elon Musk, Department of Homeland Security's, — CNBC's Lora Kolodny Organizations: U.S . Securities, Exchange, SIM, SEC, X, Twitter, SEC's, Federal Bureau of Investigation, Department of Homeland, Infrastructure Security Agency, Futures Trading Commission, Department of Justice, Enforcement

☆ Terraform Labs files for bankruptcy protection in the U.S.
▼ + stars: | 2024-01-22 | by ( ) www.cnbc.com time to read: +1 min

PODGORICA, MONTENEGRO - JUNE 16: Do Kwon is taken outside of court on June 16, 2023 in Podgorica, Montenegro. Singapore-based Terraform labs, in a filing with the bankruptcy court in Delaware, listed assets and liabilities in the range of $100 million to $500 million. Recently, a federal judge postponed the trial of the U.S. Securities and Exchange Commission (SEC) against the company and its co-founder, Do Kwon, over an alleged $40 billion cryptocurrency fraud. Kwon and Terraform Labs were held responsible for two cryptocurrencies whose collapse caused turbulence in crypto markets around the world in 2022. Both cryptocurrencies lost an estimated $40 billion or more when TerraUSD failed to maintain its $1 peg in May 2022.

Persons: Kwon, Cryptocurrency, Filip Filipovic, Do Kwon, Terraform, cryptocurrencies, TerraUSD Organizations: Labs, Sunday ., U.S . Securities, Exchange Commission, SEC, Terraform Labs Locations: PODGORICA, MONTENEGRO, Podgorica, Montenegro, United States, Sunday . Singapore, Delaware

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow Bitcoin lost by winningBitcoin has officially arrived on Wall Street. The SEC's approval of 11 spot bitcoin ETFs now gives the cryptocurrency legitimacy, accessibility, mainstream reach and acceptance. But Bitcoin was supposed to be so much more – a revolution, bypassing the traditional financial system with a democratic, decentralized, peer-to-peer electronic cash system for unbanked populations. But Wall Street did what Wall Street does best. This week on TechCheck, how Bitcoin lost by winning.

Persons: Bitcoin

☆ Wolfe says it’s time to take some profit in bitcoin, sees further consolidation on the horizon
▼ + stars: | 2024-01-18 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Bitcoin has been struggling since the launch of bitcoin exchange-traded funds and may continue to for some time, according to Wolfe Research. But much like it responded previously at the top of this trading range, we expect consolidation and decline to follow, which is why we would recommend taking some profit at these levels." "Bitcoin is at the top of its trading range," he added. An RSI reading of 70 and higher indicates that an asset is overbought, while a reading of 30 suggests it's oversold. Ginsberg added that bitcoin is overbought on a long-term weekly basis too, a condition that the cryptocurrency has seen only twice before.

Persons: Bitcoin, Wolfe's Rob Ginsberg, it's oversold, Ginsberg, bitcoin, — CNBC's Michael Bloom Organizations: Wolfe Research, U.S . Securities, Exchange Commission, Investors Locations: U.S

☆ Jim Cramer says the buzz around bitcoin ETPs is a buyer beware situation
▼ + stars: | 2024-01-17 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer on Wednesday explained what the Securities and Exchange Committee's decision to approve spot bitcoin exchange-traded products in the U.S. means for investors. Cramer said he's not necessarily against investing in Bitcoin, but warned investors to know the risks before buying. "I'm taking a page from Jamie Dimon here — this is a caveat emptor situation," he said, referring to the JPMorgan CEO and Bitcoin skeptic. ETPs include several investment vehicles, such as exchange-traded funds and exchange-traded notes. SEC Chair Gary Gensler has spoken out against crypto in the past and the agency disapproved more than 20 filings for spot Bitcoin ETPs from 2018-2023.

Persons: CNBC's Jim Cramer, Cramer, he's, Jamie Dimon, Gary Gensler, I'm, Bitcoin's, that's Organizations: Securities, Exchange, JPMorgan, SEC Locations: U.S, Bitcoin

☆ Crypto firm Ripple explored IPO outside of U.S. because of 'hostile' SEC, won't go public soon
▼ + stars: | 2024-01-17 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

In this article XRP.CM= Follow your favorite stocks CREATE FREE ACCOUNTwatch nowDAVOS, Switzerland — Ripple explored markets outside the U.S. for its initial public offering, CEO Brad Garlinghouse told CNBC, blaming a "hostile" regulator. However, the firm has put any plans for an IPO on hold for now, Garlinghouse said. Garlinghouse told CNBC in 2022 that Ripple, the company behind the cryptocurrency XRP , will explore a public listing after its lawsuit with the U.S. Securities and Exchange Commission ends. The Ripple CEO said his company has not gone public in the U.S. yet because of the SEC's actions. The SEC sued Coinbase last year alleging that the company was acting as an unregistered broker and exchange.

Persons: Brad Garlinghouse, Garlinghouse, Coinbase, Gary Gensler Organizations: CNBC, U.S . Securities, Exchange Commission, Economic, SEC, U.S Locations: DAVOS, Switzerland, Davos, U.S, United States

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