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☆ Bahamas regulator says it assumed control of digital assets of FTX
▼ + stars: | 2022-11-18 | by ( ) www.reuters.com time to read: 1 min

Nov 17 (Reuters) - The Securities Commission of The Bahamas said on Thursday it has ordered all digital assets of FTX Digital Markets Ltd (FDM) transferred to a digital wallet controlled by the Commission for safekeeping. "Urgent interim regulatory action was necessary to protect the interests of clients and creditors of FDM," the commission said in a statement. Reporting by Ann Maria Shibu in Bengaluru; Editing by Sandra MalerOur Standards: The Thomson Reuters Trust Principles.

☆ Bahamas regulators confirm they're holding some of FTX's assets
▼ + stars: | 2022-11-18 | by ( Rohan Goswami | ) www.cnbc.com time to read: +1 min

FTX has filed for bankruptcy in the US, seeking court protection as it looks for a way to return money to users. Securities regulators in the Bahamas conceded that they ordered the transfer of FTX digital assets from company wallets into their own custody, citing the authority granted to them by the Supreme Court of The Bahamas and challenging FTX's assertion that the U.S. Chapter 11 bankruptcy processes applied to them. In a press statement Thursday evening, the Securities Commission of the Bahamas (SCB) said that it had exercised "its powers as a regulator" and directed the transfer of "all digital assets" of FTX Digital Markets, a Bahamian subsidiary of the FTX empire. Crypto research firm Elliptic, however, believes that the $477 million theft reported over this weekend was tied to moves by Bahamian regulators. Statements from both the Bahamas and U.S attorneys suggest "that the "hack" was actually the seizure of FTX assets by the Bahamian government," Elliptic wrote.

☆ Morning Bid: Tough Fed talk
▼ + stars: | 2022-11-18 | by ( ) www.reuters.com time to read: +3 min

A look at the day ahead in markets from Anshuman DagaWhile Fed speakers talk tough on interest rates and keep market expectations in check, Britain's bleak outlook will also weigh on UK assets. St. Louis Fed President James Bullard said that even under a "generous" analysis of monetary policy, the Fed needs to keep raising interest rates given that its tightening so far "had only limited effects on observed inflation." For now, it does look like recent market enthusiasm about a short period of rising rates on signs of slower inflation was misplaced. This came a day after the country's budget forecasters warned Britain faced a record hit to living standards this year, battered by surging inflation. On the corporate front, Francesco De Ferrari, who heads Credit Suisse's (CSGN.S) wealth management business, told Reuters he is targeting growth markets, high net worth clients and technology to fuel the fortunes of the embattled Swiss bank.

☆ Former SpaceX employees file labor-law complaint
▼ + stars: | 2022-11-18 | by ( Jackie Wattles | ) edition.cnn.com time to read: +7 min

CNN —Eight former SpaceX employees filed labor-law complaints, alleging that Elon Musk’s space company unlawfully fired workers after they wrote company management a letter begging them to publicly condemn Musk’s “harmful” behavior on social media. The company, which Musk founded in 2002, is one of the most influential and powerful commercial space companies in the world. SpaceX has nearly 10,000 total employees, according to an NLRB complaint. The same day the letter was sent, Holland-Thielen and four others were fired, according to the NLRB complaint. “It’s shocking that SpaceX appears to believe that its mission of getting humans to Mars justifies turning a blind eye to workers’ basic civil rights,” Burgess said.

☆ What would happen if the NCAA didn’t exist?
▼ + stars: | 2022-11-18 | by ( Chris Cillizza | ) edition.cnn.com time to read: +4 min

CNN —This past weekend, fans flocked to college football stadiums around the country to cheer on their favorite teams. “And he ruled the NCAA with an iron fist out of Kansas City. Not long after, the NCAA voted to support an interim policy allowing college athletes to make money off of their name, image and likeness. But for the average college athlete playing at a mid-major Division I school, it doesn’t provide much in the way of cash. As ESPN’s Paul Finebaum told me, there are just too many people who care too much about their schools to let that happen.

☆ Bahamas says it directed FTX to move digital assets for 'safekeeping' as the crypto firm plunged into crisis
▼ + stars: | 2022-11-18 | by ( Carla Mozée | ) www.businessinsider.com time to read: +2 min

Regulators in the Bahamas directed FTX to move digital assets to safeguard them for creditors exposed to the blowup. FTX said in its bankruptcy filing there was "credible evidence" the Bahamian government was "directing unauthorized access" to FTX's systems. FTX and the Bahamas-based unit have filed separate bankruptcy protection petitions in the US. The Commission "took the action of directing the transfer of all digital assets of FTX Digital Markets Ltd. to a digital wallet controlled by the Commission, for safekeeping." FTX Digital Markets is seeking bankruptcy protection in New York under Chapter 15, which is used by foreign companies.

☆ Fact Check-‘The View’ co-host Sunny Hostin did not ‘admit’ committing voter fraud
▼ + stars: | 2022-11-17 | by ( Reuters Fact Check | ) www.reuters.com time to read: +2 min

Social media users are misrepresenting ABC talk show “The View” co-host Sunny Hostin’s remarks on her experience with dropping off her son’s absentee ballot for the U.S. midterm elections. They say she admitted committing voter fraud, but a representative for Hostin denied the allegations. Laws in New York, where they live, allow for designated family members to legally drop off other people’s ballots. One Facebook video said, “Did Sunny Hostin admit to committing voter fraud on behalf of her son?” (here). While Sunny Hostin did mention voting for her son on election day, she was talking about dropping off an absentee ballot on his behalf and not fraudulently casting votes for him.

☆ Yale and Harvard law schools say they won't participate in U.S. News rankings
▼ + stars: | 2022-11-17 | by ( ) www.nbcnews.com time to read: +3 min

Yale Law School and Harvard Law School both said Wednesday they will no longer participate in U.S. News & World Report’s annual ranking of law schools, marking the biggest shakeup to the closely watched list in years. 1 spot every year since U.S. News began ranking law schools in 1990, was first to announce the decision. Hours later, Harvard Law Dean John Manning informed students that it would do the same. U.S. News’ law school rankings loom large in the legal industry, which highly values prestige. Yale and Harvard will not disappear from the law school rankings, however.

Nov 17 (Reuters) - The University of California, Berkeley, School of Law on Thursday joined the law schools at Yale and Harvard in withdrawing from U.S. News & World Report's influential law school rankings. 9 in the law school rankings, made the announcement a day after Yale and Harvard, ranked No. The rankings measure law schools based on reputational surveys, student grades and Law School Admission Test (LSAT) scores, and bar pass and employment rates, among other factors. Stanford Law School and the University of Pennsylvania Carey Law School - currently ranked No. "I think every school is at minimum looking at it," law school admission consultant Mike Spivey said of the growing boycott.

☆ UK taxpayers on hook for 133 billion-pound bill to cover BoE losses
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: +2 min

[1/2] A general view of the Bank of England (BoE) building, the BoE confirmed to raise interest rates to 1.75%, in London, Britain, August 4, 2022. Until recently, the government received profits made by the BoE's QE programme when interest rates were low, which totalled 120 billion pounds between March 2009 and March 2022. "Across the forecast, the Treasury pays 133 billion pounds (to the BoE) to cover these losses, more than reversing the previous 13 years' gains," the Office for Budget Responsibility said in its latest forecast. It said this figure was sensitive to both changes in the BoE's Bank Rate and gilt prices, meaning the true figure could be much higher or much lower. BoE Governor Andrew Bailey has said doing so would weaken the central bank's transmission of monetary policy via the banking system.

☆ Krispy Kreme agrees to pay workers more than $1.1 million over wage theft claims
▼ + stars: | 2022-11-17 | by ( Charles R. Davis | ) www.businessinsider.com time to read: +2 min

Krispy Kreme has agreed to pay 516 workers more than $1.1 million in back wages and damages. Federal investigators had uncovered "widespread and systemic" wage theft at the company. According to investigators, the North Carolina-based company failed to include those employees' monthly bonuses when calculating their overtime rate. "Employers who fail in their obligation to pay minimum wage and overtime wages as the law requires make it harder for workers and their families to make ends meet." Krispy Kreme, for its part, said it is "strongly committed" to paying its workers fairly.

☆ Drake, 21 Savage agree not to use 'Vogue' trademarks to promote No. 1 album
▼ + stars: | 2022-11-17 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

[1/2] Rapper Drake arrives on the red carpet for the film "The Carter Effect" at the Toronto International Film Festival (TIFF), in Toronto, Canada, September 9, 2017. REUTERS/Mark Blinch/File PhotoNEW YORK, Nov 17 (Reuters) - Drake and 21 Savage have stopped using Vogue trademarks to promote their new No. 1 album "Her Loss," and agreed to a preliminary injunction against resuming their campaign. Drake and 21 Savage did not concede liability or wrongdoing, and agreed to the injunction to avoid unnecessary costs, the filing said. The fake Vogue magazine featured Drake and 21 Savage on the cover, and their campaign included a suggestion that they had support from longtime Vogue editor-in-chief Anna Wintour.

☆ Trump Org ex-CFO tears up on stand while describing his 'betrayal' of the Trump family
▼ + stars: | 2022-11-17 | by ( Laura Italiano | ) www.businessinsider.com time to read: +4 min

Donald Trump's ex-CFO is the key DA witness in the Trump Organization tax-fraud trial in Manhattan. Alan Futerfas, a Trump Org defense lawyer, asked the wistful witness in a courtroom in Manhattan. Futerfas asked Weisselberg. Futerfas asked. the lawyer asked.

☆ FTX suggests Sam Bankman-Fried transferred assets to Bahamas government custody after bankruptcy: Filing
▼ + stars: | 2022-11-17 | by ( Rohan Goswami | ) www.cnbc.com time to read: +2 min

FTX in a bombshell emergency court filing Thursday said evidence suggests Bahamian regulators directed former CEO Sam Bankman-Fried to gain "unauthorized access" to FTX systems to obtain digital assets belonging to the company after it had filed for bankruptcy protection. The filing said that Bankman-Fried transferred those assets to the custody of the Bahamian government. It cites an interview published by Vox on Wednesday where Bankman-Fried expresses serious disdain for regulators. In that motion, FTX said the alleged conduct puts "in serious question" a request by Bahamian regulators for recognition as liquidators in the bankruptcy. The appointment of the JPLs and recognition of the Chapter 15 Case are thus in serious question," the filing continued.

☆ Student Accused of Fatally Shooting Three University of Virginia Football Players Denied Bond
▼ + stars: | 2022-11-16 | by ( Joseph De Avila | ) www.wsj.com time to read: 1 min

The suspect was not present at Albemarle General District Court, and instead appeared by video link from a jail. A judge ordered that the University of Virginia student accused of fatally shooting three football players on campus and injuring two other students be held without bond in his first court appearance. Christopher Darnell Jones Jr . wasn’t in Albemarle General District Court in Virginia Wednesday and appeared by video link from a regional jail. He has been charged with three counts of second-degree murder and three counts of using a handgun in commission of a felony. He also faces two counts of malicious wounding with two additional firearm charges.

☆ Fact Check-WiFi access inside a polling place is not proof of election fraud
▼ + stars: | 2022-11-16 | by ( Reuters Fact Check | ) www.reuters.com time to read: +5 min

Access to WiFi inside a polling place is not automatic proof of voter fraud, despite claims made online, experts told Reuters. The post led to claims that a new WiFi network suddenly appearing from inside a polling station can lead to voter fraud. WIFI PRESENCE NOT EVIDENCE OF FRAUDBut the presence of a WiFi network inside a polling place is not automatic proof of nefarious activity, experts in election security told Reuters. The presence of a WiFi network inside a polling place is not automatically proof of fraud, experts told Reuters. WiFi-connected electronic polling books that check in voters are commonplace at polling stations across the country.

The Senate is expected to hold a key vote Wednesday on a bill to codify federal protections for same-sex marriage, days after Majority Leader Chuck Schumer, D-N.Y., vowed to proceed to an updated version of the bill released by a bipartisan group of senators. The group, led by Sen. Tammy Baldwin, D-Wis., expressed confidence this week that the bill has the 10 GOP votes needed to pass in the upper chamber during the lame-duck session. NBC News has not yet called which party will control the chamber, with the results of several races still outstanding. The legislation would repeal the 1996 Defense of Marriage Act, enshrine legal same-sex marriage for the purposes of federal law, and add legal protections for married couples of the same sex. Same-sex marriage remains the law of the land under the Supreme Court’s 5-4 ruling in Obergefell v. Hodges in 2015.

☆ UVa student charged in deaths of 3 football players shot one victim in his sleep, prosecutor says
▼ + stars: | 2022-11-16 | by ( Antonio Planas | Marlene Lenthang | Antonio Planas Is A Breaking News Reporter For Nbc News Digital. | ) www.nbcnews.com time to read: +4 min

Prosecutor James Hingeley from the Albemarle County Commonwealth's Attorney’s Office described facts in the case, noting all five individuals were shot. He said Jones shot victim Devin Chandler while he was sleeping, according to a witness, and he slid onto the floor. The witness reported that Jones was aiming at “certain people” and “not randomly shooting,” Hingeley said. At the time of his arrest in Chesterfield County, Jones had outstanding warrants for hit-and-run and reckless driving out of Petersburg, Virginia, Hingeley said. The University of Virginia canceled its final home football game of the season Wednesday in the wake of the shooting.

☆ Polish incident attempt to provoke direct military clash between NATO and Russia - Russian mission to UN
▼ + stars: | 2022-11-16 | by ( ) www.reuters.com time to read: 1 min

Nov 16 (Reuters) - The incident in Poland, a blast in a village near the border with Ukraine that killed two people, is an attempt to provoke a direct clash between Russia and NATO, the head of the permanent mission of Russia to the United Nations said on Wednesday. "There is an attempt to provoke a direct military clash between NATO and Russia, with all the consequences for the world," Dmitry Polyansky said on his Telegram channel. Reporting by Reuters; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

☆ Treasury market liquidity crunch could derail the Federal Reserve's policy, New York Fed chief says
▼ + stars: | 2022-11-16 | by ( Brian Evans | ) www.businessinsider.com time to read: +2 min

Dysfunctioning US bond markets run the risk of undermining central bank monetary policy, according to John Williams. "If the Treasury market isn't functioning well, it can impede the transmission of monetary policy to the economy," he said. "Monetary policy influences the economy by affecting financial conditions, with the Treasury market at the center of it all. If the Treasury market isn't functioning well, it can impede the transmission of monetary policy to the economy." Williams' comments come as a liquidity crunch takes hold of the $24 trillion Treasury market and threatens to grind the world's most vital bond market to a halt.

☆ Elon Musk says he doesn't want to be CEO of any company and tries to walk back SEC insults
▼ + stars: | 2022-11-16 | by ( Lora Kolodny | ) www.cnbc.com time to read: +4 min

Elon Musk said in court on Wednesday that he does not want to be the CEO of any company. "I expect to reduce my time at Twitter and find somebody else to run Twitter over time," he said. Musk explained during the testimony that CEO is not necessarily an apt description for the work he says he does at his companies. Musk said he only called on Tesla employees to assist him at Twitter on a "voluntary basis," and to work "after-hours" at Twitter. The Tesla CEO specified that, "This was an after hours-- just if you're interested in evaluating, helping me evaluate Twitter engineering… that'd be nice.

SummarySummary CompaniesCompanies Related documents The moves could prompt other law schools to follow suitU.S. News' law school rankings loom large in the legal industry(Reuters) - Yale Law School and Harvard Law School both said Wednesday they will no longer participate in U.S. News & World Report’s annual ranking of law schools, marking the biggest shakeup to the closely watched list in years. 1 spot every year since U.S. News began ranking law schools in 1990, was first to announce the decision. U.S. News’ law school rankings loom large in the legal industry, which highly values prestige. Yale and Harvard will not disappear from the law school rankings, however. (NOTE: This story has been update to include Harvard Law School's decision to not participate in the U.S. News rankings.)

The school had been "reviewing a potential hazing issue" when the Office of Student Affairs "heard from a student that Mr. Jones made a comment to him about possessing a gun," the university said in a statement Tuesday. "The reporting party did not see Mr. Jones in possession of a gun," the statement said. As the probe moved forward, it was learned that "Mr. Jones previously had been convicted of a misdemeanor for a concealed weapons violation in 2021," the school said. But officials said they realized only after Sunday’s shooting that the report of his conviction was never relayed to the University Judiciary Committee. Jones had a difficult upbringing at home and was bullied at school, Logan said.

FTX's bankruptcy case includes more than 100,000 creditors, and this number could surpass 1 million, the filings said. The numbers were disclosed as FTX requested that multiple FTX group companies file one consolidated list of major creditors, rather than separate ones. REUTERS/Dado Ruvic/IllustrationCrypto lender BlockFi, which previously acknowledged it has significant exposure to FTX, plans to lay off workers while preparing to file for bankruptcy, the Wall Street Journal reported. Separately, bankrupt crypto lender Voyager Digital no longer plans to sell itself to FTX, Bloomberg reported, while Canadian crypto exchange Bitvo said it terminated its deal to be bought by FTX. I'm meeting in-person with regulators and working with the teams to do what we can for customers," he said on Twitter.

☆ Father of UVa shooting suspect says son told him people were 'picking on him,' seemed 'paranoid'
▼ + stars: | 2022-11-15 | by ( Marlene Lenthang | Marlene Lenthang Is A Breaking News Reporter For Nbc News Digital. | ) www.nbcnews.com time to read: +3 min

His father, Christopher Darnell Jones Sr, told NBC affiliate WBBT of Richmond, Virginia, “I can’t believe it was him. I don’t know what happened between then and now to cause this to happen,” he continued. He said some people were picking on him or whatever, he didn’t know how to handle it. She said that she didn't have contact with him after the shooting and didn't know what might have contributed to it. Now the father wants to speak face-to-face with his son and figure out what let up to the shooting.

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