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☆ Citadel Securities is looking for business-savvy coders. Here's what you need to know to land a technologist job that can pay as much as $350,000.
▼ + stars: | 2023-10-19 | by ( Bianca Chan | ) www.businessinsider.com time to read: +7 min

Being a solid coder isn't going to cut it at Citadel Securities anymore. Citadel Securities, which generated about $7.5 billion in revenue last year, is now focused on hiring thoughtful technologists who drive commercial outcomes for the firm. We're looking for people who can drive a big commercial impact for the firm," Aaron Moss, head of technology recruiting for Citadel Securities, told Insider. In one recent case, Citadel Securities extended an offer to a promising young intern, even though the hiring manager had been looking for a more experienced hire. "The industry is getting very high level with things like AI, which push people even further away from that understanding," Neff told Insider.

Persons: Ken Griffin, Aaron Moss, Josh Woods, It's, Olga Naumovich, Jayson Bevacqua, opportunistically, Damien Neff, it's, Neff, Costas Bekas, extroverts, Bekas, didn't, Moss Organizations: Citadel Securities, Citadel, Solaris Search, LinkedIn Locations: Miami

The seal of the U.S. Securities and Exchange Commission (SEC) is seen at their headquarters in Washington, D.C., U.S., May 12, 2021. In its December 2020 lawsuit, the SEC accused Ripple of illegally raising more than $1.3 billion in an unregistered securities offering by selling XRP. U.S. District Judge Analisa Torres in Manhattan granted Ripple a partial win in the case in July, finding that sales of XRP on public exchanges were not unregistered securities offerings. The SEC's claims against Garlinghouse and Larsen over their role in those sales were to be tried before a jury. Torres' July ruling against the SEC was a rare setback in the regulator's long-runnning crackdown on the industry.

Persons: Andrew Kelly, Brad Garlinghouse, Chris Larsen, Ripple, Analisa Torres, Torres, Garlinghouse, Larsen, Sam Bankman, Gary Gensler, Gensler, Jody Godoy, David Gregorio Our Organizations: U.S . Securities, Exchange Commission, Washington , D.C, REUTERS, Ripple Labs, SEC, District, Binance, Industry, Thomson Locations: Washington ,, New York, . U.S, Manhattan, America, U.S

☆ 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

The Nasdaq logo is displayed at the Nasdaq Market site in Times Square in New York City, U.S., December 3, 2021. The SEC acted within its authority in approving the rule, and was allowed to consider the opinions of investors who said board diversity information was important to their investment decisions, the court said. "This evidence is sufficient to support the SEC's determination that regardless of whether investors think that board diversity is good or bad for companies, disclosure of information about board diversity would inform how investors behave in the market," the panel wrote. They said the rule is not a quota but a disclosure requirement that provides standardized information on board diversity. Circuit Court of Appeals, No.

Persons: Edward Blum, Blum, Biden, Jody Godoy, Mark Porter, Jonathan Oatis Organizations: Nasdaq, REUTERS, Circuit, National Center for Public Policy Research, Alliance for Fair, SEC, Harvard University, University of North, U.S . Securities, Exchange Commission, Companies, Republican, Democratic, Fair, U.S, Thomson Locations: New York City, U.S, New Orleans, University of North Carolina, New York

☆ US SEC proposes banning volume-based trading discounts for stock brokerages
▼ + stars: | 2023-10-18 | by ( Douglas Gillison | ) www.reuters.com time to read: +3 min

The headquarters of the U.S. Securities and Exchange Commission (SEC) are seen in Washington, July 6, 2009. FollowOct 18 (Reuters) - Wall Street's top regulator on Wednesday proposed new regulations it said should level the playing field among broker-dealers operating on U.S. stock exchanges by ending pricing schemes that tend to favor bigger players. At a public meeting in Washington, a divided five-member U.S. Securities and Exchange Commission voted 3-2 to propose banning stock exchanges from offering lower transaction prices and rebates to brokerages with higher trading volumes, something officials said creates unfair competitive advantages for larger firms. The ban on transaction price discounts and rebates would not apply when brokerages trade for themselves, SEC officials said in advance of the meeting. In those cases, stock exchanges will have to disclose pricing tiers and the number of exchange members who qualify to the SEC, which will make this available to the public.

Persons: Jim Bourg, Gary Gensler, Hester Peirce, Ellen Greene, Douglas Gillison, Jonathan Oatis Organizations: U.S . Securities, Exchange Commission, SEC, REUTERS, AddSekkei Inc, Exchange, Republican, American Securities Association, Securities Industry, Financial Markets Association, Thomson Locations: Washington, brokerages

☆ Mike Novogratz thinks the SEC will approve a bitcoin ETF as early as this year
▼ + stars: | 2023-10-18 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

The crypto market has effectively been on pause – aside from a quick and short-lived spike this week – as investors wait for the SEC to give the green light to a bitcoin ETF. This week bitcoin, as well as shares of Coinbase , briefly spiked on a false report that BlackRock 's proposed spot bitcoin ETF had been approved by the SEC. BlackRock first filed its application in June and several other institutional players including Galaxy followed, taking BlackRock's move as a bullish signal for bitcoin ETF prospects as well as the long-term trajectory of bitcoin itself. Although no bitcoin ETF has been greenlit still, Novogratz highlighted BlackRock's bitcoin blessing on Wednesday as another sign that "the dialogue with the SEC is all heading in the right direction." Ark Invest CEO Cathie Wood echoed that sentiment this week, telling CNBC's "Halftime Report" the "SEC is engaging with us for a bitcoin ETF application.

Persons: Mike Novogratz, Novogratz, Cathie Wood, CNBC's, bitcoin, Godot Organizations: SEC, Galaxy Investment Partners, Invesco, CNBC Wednesday, Securities and Exchange Commission, Coinbase, BlackRock, Galaxy Locations: U.S

☆ A spot bitcoin ETF is coming this year and the SEC's loss in court made clear that its opposition makes 'intellectually zero sense,' billionaire crypto bull Mike Novogratz says
▼ + stars: | 2023-10-18 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

A spot bitcoin ETF could be coming as soon as this year, crypto bull Mike Novogratz said. Still, regulators have repeatedly punted on a decision to approve any bitcoin ETF this year. AdvertisementAdvertisementA spot bitcoin exchange traded fund is coming as soon as 2023, according to Galaxy Digital CEO Mike Novogratz. The billionaire crypto bull pointed to multiple requests by firms to launch a spot bitcoin ETF over the past year. There's also high demand for a spot bitcoin ETF.

Persons: Mike Novogratz, —, Novogratz, There's, Bitcoin, Larry Fink's Organizations: CNBC, Service, Galaxy Digital, Securities and Exchange Commission, SEC, BlackRock Locations: BlackRock

☆ California lawmakers urge SEC to follow their lead in climate disclosure requirements
▼ + stars: | 2023-10-17 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +3 min

The law requires large businesses to report their scope 1, 2 and 3 emissions. Scope 1 emissions are those generated by fuel sources that a business owns, such as boilers, furnaces and vehicles. Scope 2 emissions are greenhouse gasses emitted to generate the electricity, steam, heat or cooling a business purchases. But the California lawmakers "strongly urge" the SEC "to follow California's lead and specifically include Scope 3 disclosure requirements in addition to Scope 1 and 2," they said in a letter dated Thursday. Also, the California lawmakers say that because California has passed SB 253 requiring large businesses in the state to report their Scope 3 emissions, the cost for California businesses to submit the same data to federal regulators is negligible.

Persons: Gary Gensler, Gavin Newsom, Gensler, We're, — Organizations: . Securities, Exchange, Financial, Capitol, Washington , D.C, California Democratic, U.S . Securities, Exchange Commission, SEC, Exxon Mobil, Walmart, National Cattlemen's Beef Association, National Cotton Council, Wisconsin Pork Association, CNBC, U.S . House, Financial Services Locations: Washington ,, California

☆ Cryptocurrencies rise, sending bitcoin over $30,000 at one point, on optimism for a new ETF
▼ + stars: | 2023-10-16 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

At one point Monday morning, bitcoin surged above $30,000 in a sudden spike on an unconfirmed report that the iShares spot bitcoin ETF had been formally approved by the Securities and Exchange Commission. Cryptocurrencies briefly soared to start the week as hopeful investors weighed the likelihood that the U.S. will finally see a bitcoin ETF in the coming months. Last week, bitcoin had jumped on Friday on news that the SEC would not appeal a ruling in Grayscale's lawsuit against regulators. In June of 2022, Grayscale sued the SEC over its denial of the company's application to convert the popular Grayscale Bitcoin Trust (GBTC) to an ETF. To be sure, bitcoin is coming off its worst week since Aug. 18 and first negative week in six.

Persons: bitcoin, Cryptocurrencies, rehearing, Paul Tudor Jones, Bernstein, Ripple's, —, Jesse Pound, Nick Wells, John Melloy Organizations: Securities and Exchange Commission, BlackRock, CNBC, SEC, Metrics, Appeals, Smart Locations: U.S

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, including Grayscale's, on the grounds applicants have not shown they can protect investors from market manipulation. The appeals court ruled that the SEC arbitrarily denied Grayscale's application because it never explained why the two arrangements were materially different. The appeals court is expected to issue a mandate specifying how its decision should be executed, which will likely include instructing the SEC to revisit Grayscale's application. Several other asset managers, including BlackRock (BLK.N), Fidelity and Invesco, have similar filings pending with the SEC for a spot bitcoin ETF.

Persons: Jim Bourg, Grayscale's, Chris Prentice, Hannah Lang, Michelle Price, Rod Nickel Organizations: U.S . Securities, Exchange Commission, SEC, REUTERS, Columbia, BlackRock, Fidelity, Thomson Locations: Washington

☆ Securities traders are gathering in Washington, trying to figure out what the SEC is doing
▼ + stars: | 2023-10-11 | by ( Bob Pisani | ) www.cnbc.com time to read: +6 min

The seal of the U.S. Securities and Exchange Commission hangs on the wall at SEC headquarters in Washington, June 24, 2011. The big topic: trying to figure out what the Securities and Exchange Commission is doing. These wholesalers may send the orders to exchanges, but often match the orders against their own internal order flow. Gallagher will also likely weigh in on payment for order flow as well. "I'm doing everything backwards, I'm leaving a trade group and going into politics, but sometimes you gotta step up."

Persons: There's, Gary Gensler, Gensler, Schwab, ETrade, Hester Peirce, Jonathan Kellner, Peirce, Hope Jarkowski, Rostin Behnam, Dan Gallagher, Matt Andresen, Gallagher, Jim, George Santos, Santos Organizations: U.S . Securities, Exchange, SEC, Securities, Securities and Exchange, Security Traders Association, Security Traders Association of New, Marriott Marquis, Intelligence, Citadel, Republican, MEMX, Democratic, NYSE, CFTC, Corporate, Headlands Technology, Congress Locations: Washington, Security Traders Association of New York, U.S, Long

☆ How Hamas likely used rudimentary drones to 'blind and deafen' Israel's border and pave the way for its onslaught
▼ + stars: | 2023-10-10 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +5 min

Hamas has shared drone footage, saying it used drones in its attack on Israel over the weekend. AdvertisementAdvertisementVideos circulated by Hamas suggest that a fleet of simple drones helped pave the way for its massive, deadly onslaught in Israel over the weekend. But experts, along with Hamas' own allies, have suggested that they were deployed early to help the militants cross the border. AdvertisementAdvertisementGaza |Hamas published footage showing their aerial attack on a merkava tank near the border, all soldiers inside were eliminated. IRNA shared an apparent training video of the rudimentary, fixed-wing Zouari drone.

Persons: —, Libby Weiss, James Patton Rogers, Patton Rogers, Israel, DroneSec, TIW0IibtZ4 — Younis Tirawi, IRNA, Mohamed Zouari, Al, Zawari, jerry, He's, Bernard Hudson Organizations: Service, Cornell University, CIA Locations: Israel, Ukraine, Gaza, Al Jazeera

Elon Musk attends the opening ceremony of the new Tesla Gigafactory for electric cars in Gruenheide, Germany, March 22, 2022. The agency on Thursday asked a federal court to force Musk to testify for its investigation into his $44 billion takeover of social media giant Twitter, the third time the SEC has taken Musk to court. "This case is different from past forays between the SEC and Elon Musk because it's a subpoena enforcement case. Musk also refused SEC proposals to testify in Texas, where he lives, in October or November, the SEC said. In 2022, a judge ordered Terraform Labs' founder to comply with an SEC subpoena for documents.

Persons: Elon Musk, Patrick Pleul, Musk, Musk's, Stephen Crimmins, Davis Wright Tremaine, Alex Spiro, Howard Fischer, Moses, Moses & Singer, Jay, Spiro, Tesla, Robert Frenchman, Mukasey Frenchman, Chris Prentice, Michelle Price, Lisa Shumaker Organizations: WASHINGTON, U.S . Securities, Exchange Commission, SEC, Twitter, Elon, Moses &, Terraform Labs, Reuters, Thomson Locations: Gruenheide, Germany, videoconference, San Francisco, Texas

☆ Kazakh fintech Freedom Holding is being investigated by DOJ, SEC, documents show
▼ + stars: | 2023-10-06 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +3 min

The SEC's Boston regional office has been probing Freedom for months, according to documents seen by CNBC and people familiar with the matter. The U.S. Attorney's Office for Massachusetts is also making preliminary inquiries into Freedom, documents seen by CNBC show. Nearly 115,000 Freedom shares changed hands in the first half hour of trading, 1.25 times the stock's 10-day average. Turlov and Freedom are aware of the SEC probe, which has been going on for months, a person familiar with the matter told CNBC. An SEC spokesperson told CNBC that it doesn't comment on the existence or nonexistence of an investigation.

Persons: that's, Timur Turlov, Turlov, Hindenburg, Citron Organizations: Nasdaq, Securities, Exchange, CNBC, Boston, Attorney's, Massachusetts, SEC, DOJ, Justice, Hindenburg, Citron Research, Las, Trump, Financial, Financial Industry, Authority, Freedom Locations: Almaty, Kazakhstan, Russian, U.S, Kazakh, Central Asia, Eastern Europe, New York, Las Vegas, New

☆ Kazakh's fintech Freedom is being investigated by US SEC, DOJ - CNBC
▼ + stars: | 2023-10-06 | by ( ) www.reuters.com time to read: +1 min

The headquarters of the U.S. Securities and Exchange Commission (SEC) are seen in Washington, July 6, 2009. The SEC's Boston regional office has been probing Freedom for months, the report said, citing documents seen by CNBC and people familiar with the matter. The allegations in the Hindenburg report are without merit, Freedom had said then. The U.S. Attorney's Office for Massachusetts is also making preliminary inquiries into Freedom, the CNBC report added. The SEC declined to comment on the existence or nonexistence of a possible investigation, whereas the Department of Justice and Freedom did not immediately respond to Reuters requests for comment.

Persons: Jim Bourg, Freedom, Hindenburg, Jaiveer Singh, Shinjini Organizations: U.S . Securities, Exchange Commission, SEC, REUTERS, U.S . Department of Justice, Securities, Exchange, CNBC, Boston, Attorney's, Massachusetts, Department of Justice, Thomson Locations: Washington, Kazakhstan, U.S, Bengaluru

The Securities and Exchange Commission said Thursday it is seeking a court order that would compel Elon Musk to testify as part of an investigation into his purchase of Twitter, now called X. But “two days before his scheduled testimony, Musk abruptly notified the SEC staff that he would not appear,” said the agency’s filing. “Musk attempted to justify his refusal to comply with the subpoena by raising, for the first time, several spurious objections, including an objection to San Francisco as an appropriate testimony location.”X is based in San Francisco. The SEC said on Sept. 24, Musk’s lawyers responded by saying Musk would not appear for testimony in any location. A hearing on the matter is tentatively scheduled for Nov. 9 in San Francisco.

Persons: Elon Musk, Musk, ”, “ Musk, San, Alex Spiro, Andrew Carter, Musk's, Carter, Walter Isaacson Organizations: Securities, Exchange Commission, Twitter, SEC, District Locations: San Francisco federal, San Francisco, New York, Oklahoma, U.S, Fort Worth , Texas, “

☆ SEC sues to force Elon Musk to testify in Twitter probe
▼ + stars: | 2023-10-05 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +3 min

The U.S. Securities and Exchange Commission sued Elon Musk on Thursday in an effort to compel the billionaire to testify over his purchase of Twitter last year. "Accordingly, the SEC now asks the Court to compel Musk to appear for investigative testimony." Alex Spiro, Elon Musk's attorney, said in a statement about that "the SEC has already taken Mr. Musk's testimony multiple times in this misguided investigation—enough is enough." A hearing on the filing is scheduled to take place on Nov. 9, according to the legal filing. Read the full legal filing below:

Persons: Elon Musk, Musk, Alex Spiro, Elon, San, Walter Isaacson Organizations: U.S . Securities, Exchange Commission, Twitter, SEC, Northern District of Locations: Northern District, Northern District of California, Fort Worth , Texas, Austin, San Francisco

☆ The SEC is investigating Elon Musk's purchase of Twitter and attempting to force him to sit for questioning
▼ + stars: | 2023-10-05 | by ( Kali Hays | ) www.businessinsider.com time to read: +4 min

The SEC is investigating Elon Musk's initial investment in Twitter and his eventual takeover. "The SEC seeks Musk's testimony to obtain information not already in the SEC's possession that is relevant to its lawful investigation," the agency said. "The SEC has followed all appropriate administrative steps required in seeking Musk's testimony. Musk's lawyer, Alex Spiro, told Insider: "The SEC has already taken Mr. Musk's testimony multiple times in this misguided investigation — enough is enough." AdvertisementAdvertisement'Spurious objections'"Instead, two days before his scheduled testimony, Musk abruptly notified the SEC staff that he would not appear," the SEC said.

Persons: Elon, Musk, Alex Spiro, —, it's, Musk's, San, Elon Musk, Walter Isaacson Organizations: SEC, Twitter, eventual, Service, Securities and Exchange Commission Locations: California, San Francisco

Smartphone with displayed Coinbase logo and representation of cryptocurrencies are placed on a keyboard in this illustration taken, June 8, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsCompanies Coinbase Global Inc FollowOct 3 (Reuters) - The U.S. Securities and Exchange Commission (SEC) on Tuesday asked a federal judge to deny a motion from Coinbase Global (COIN.O) to dismiss the regulator's lawsuit against the cryptocurrency exchange. THE TAKETuesday's filing showed that the SEC is seizing on the Terraform Labs ruling to raise questions about the ruling in the Ripple case, which the crypto industry had hailed as a victory. THE CONTEXTThe SEC sued Coinbase in June, accusing it of operating illegally as a national securities exchange, broker and clearing agency without registering with the regulator. Thus, the Motion hinges on whether Coinbase intermediated transactions involving investment contracts, and thus securities.

Persons: Dado Ruvic, Coinbase, Paul Grewal, Hannah Lang, Chris Prentice, Jonathan Stempel, Cynthia Osterman, Stephen Coates Organizations: REUTERS, U.S . Securities, Exchange Commission, SEC, Coinbase, Ripple Labs, Terraform Labs, Terraform, Thomson Locations: Manhattan, Washington, New York

LEXINGTON, Ky. (AP) — Ray Davis rushed for a career-high 280 yards and scored four touchdowns, including three in the first half, as Kentucky overwhelmed No. Davis also charged hard for a 9-yard TD reception that made it 10-0, getting a little assist at the goal line from guard Eli Cox. Kentucky totaled 398 yards against the SEC's top overall and scoring defense, which entered the game yielding just 224 yards and 13.5 points per outing. He was also intercepted by Trevin Wallace, who snatched Deone Walker's deflection and returned it 21 yards to the Florida 21 and set up Davis' first score. Kentucky: Davis took a huge step toward establishing himself as the SEC’s top runner with a monster day.

Persons: — Ray Davis, Davis, Eli Cox, Graham Mertz, Hayden Hansen, Ricky Pearsall, Mertz, Trevin Wallace Organizations: Wildcats, Conference, East Division, Vanderbilt, Gators, Charlotte, Kentucky, NEXT Florida, AP Locations: LEXINGTON, Ky, Kentucky, Florida, Georgia, . Kentucky

REUTERS/Jim Bourg/File Photo Acquire Licensing RightsNEW YORK, Sept 29 (Reuters) - The U.S. securities regulator on Friday said it had fined 12 companies, including brokers, investment advisers and credit rating firms, for record keeping failures. The Securities and Exchange Commission (SEC) said the companies, including Interactive Brokers Corp, Fifth Third Securities and Nuveen Securities, agreed to pay a total of $79 million and admitted they violated the record keeping rules. Credit rating agencies DBRS Inc. and Kroll Bond Rating Agency, LLC also agreed to pay civil penalties to settle SEC charges related to the record-keeping failures, the regulator added. Employees at both firms failed to preserve electronic communications, including off-channel messages on personal and work-issued devices, the SEC said. To settle the charges, DBRS agreed to pay $8 million in civil penalties and KBRA agreed to pay $4 million in civil penalties, the SEC said.

Persons: Jim Bourg, Kroll, DBRS, KBRA, Chris Prentice, Carolina, Barbara Lewis Organizations: U.S . Securities, Exchange Commission, SEC, REUTERS, Securities, Interactive Brokers Corp, Fifth Third Securities, Nuveen Securities, Reuters, Wall, DBRS Inc, Kroll Bond Rating Agency, Employees, Thomson Locations: Washington, U.S

☆ Bitcoin has limited upside in the fourth quarter as the possibility of higher rates casts a shadow over crypto
▼ + stars: | 2023-09-29 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +5 min

In the final quarter of the year, bitcoin is likely to see continued chop and although there's room for some upside, it may be limited. Despite this, it remains on pace for an 11% decline in the third quarter, historically a weaker quarter for the cryptocurrency. Meanwhile, holding a non-yielding asset like gold or bitcoin could become "less interesting" as rates go higher, Amberdata's Magadini said. There's a significant crowd on both sides, Cox said – "that's why bitcoin is up 60% in a year when the Fed has hiked interest rates so aggressively." The answer to that depends on interest rates, which will probably stay high."

Persons: Bitcoin, bitcoin, Greg Magadini, Rob Ginsberg, wouldn't, haven't, Callie Cox, That's, Amberdata's Magadini, Cox Organizations: SEC, –, Wolfe Research, Fed

☆ Valkyrie Funds to add 'ether' futures in exchange-traded fund after SEC approval
▼ + stars: | 2023-09-28 | by ( Suzanne Mcgee | ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsSept 28 (Reuters) - Investment manager Valkyrie Funds LLC has begun adding ethereum futures to its existing Bitcoin futures exchange-traded fund, after getting the green light from the U.S. Securities and Exchange Commission (SEC), the company said on Thursday. The renamed Valkyrie Bitcoin and Ether Strategy ETF (BTF.O) will launch on Monday, Valkyrie's chief investment officer Steven McClurg told Reuters. Rival asset managers VanEck and ProShares are looking to offer pure ether futures ETFs, in contrast to Valkyrie's hybrid ETF. The SEC's decision to drop long-held objections to ether futures ETFs is a boost for the crypto industry, which has been pushing the agency to expand the types of crypto ETFs they can offer. Media reports that the SEC was poised to approve ether futures ETFs appears to have been boosting the token's price.

Persons: Dado Ruvic, Bitcoin, Steven McClurg, McClurg, VanEck, Steve Sosnick, Suzanne McGee, Michelle Price Organizations: REUTERS, U.S . Securities, Exchange Commission, SEC, Strategy, Reuters, Media, Interactive, Thomson

The headquarters of the U.S. Securities and Exchange Commission (SEC) are seen in Washington, July 6, 2009. One said some firms could pay as much as $50 million. The SEC has previously negotiated two other large group settlements as part of its "off-channel" communications probe. In August, regulators fined nine Wall Street firms, including Wells Fargo (WFC.N) and Societe Generale (SOGN.PA), a combined $549 million over employees' use of personal messaging apps. In September 2022, it fined 16 firms, including Goldman Sachs, Morgan Stanley, Citigroup and Bank of America, $1.8 billion for similar lapses.

Persons: Jim Bourg, Spokespeople, Oppenheimer, Voya, Wells, Goldman Sachs, Morgan Stanley, JPMorgan Chase, Chris Prentice, Carolina, Michelle Price, Jacqueline Wong Organizations: U.S . Securities, Exchange Commission, SEC, REUTERS, Reuters, Truist Financial Corp, US Bancorp, Voya Financial, LPL, Interactive, Oppenheimer, Fifth Third Bancorp, Fifth, Truist, Wall Street, Societe Generale, Citigroup, Bank of America, JPMorgan, Thomson Locations: Washington

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

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