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☆ SEC Is Cracking Down on Crypto Staking. Here’s What to Know
▼ + stars: | 2023-03-04 | by ( Vicky Ge Huang | Paul Kiernan | ) www.wsj.com time to read: 1 min

Regulators are going after crypto staking, most recently with a $30 million fine in February against a crypto exchange called Kraken. The move has big implications for the crypto industry. Here’s what you need to know.

☆ NHL roundup: Knights edge Devils in shootout
▼ + stars: | 2023-03-04 | by ( ) www.reuters.com time to read: +3 min

[1/5] Mar 3, 2023; Las Vegas, Nevada, USA; New Jersey Devils center Nico Hischier (13) skates against Vegas Golden Knights defenseman Shea Theodore (27) during an overtime period at T-Mobile Arena. Adin Hill, playing in his 100th career NHL game, made a career-high 47 saves and stopped all four shootout attempts for the Golden Knights, who broke a tie for first place in the Pacific Division with the idle Los Angeles Kings. Kraken 4, Blue Jackets 2Jared McCann and Alex Wennberg each had a goal and an assist as Seattle defeated host Columbus. Leon Draisaitl and Kailer Yamamoto each had two goals and an assist, and Connor McDavid, whose five-game goal streak ended, had three assists for the Oilers. Lawson Crouse scored his 20th goal of the season for the Coyotes, who have lost four of their past five games.

☆ NHL roundup: Bruins become fastest to 100 points
▼ + stars: | 2023-03-03 | by ( ) www.reuters.com time to read: +7 min

With their ninth consecutive win, the Bruins improved to 48-8-5 on the season and became the fastest team in NHL history to record 100 points, doing so in 61 games. Charlie Coyle, Brandon Carlo and David Krejci each recorded two assists while Patrice Bergeron and Connor Clifton also scored goals. Casey Mittelstadt scored the lone goal and Ukko-Pekka Luukkonen made 35 saves for the Sabres, who dropped their second straight. The Lightning are 2-3-3 in their past eight games and have lost three straight for the first time. The Stars gave goalie Matt Murray his NHL debut, and he finished with 19 saves for the win.

☆ NHL roundup: Linus Ullmark's record night lifts Bruins
▼ + stars: | 2023-03-01 | by ( ) www.reuters.com time to read: +7 min

Dmitry Orlov scored twice in a three-point game while Pavel Zacha also scored for the Bruins. Panthers 4, Lightning 1Eric Staal, Anton Lundell and Eetu Luostarinen scored first-period goals as Florida broke Tampa Bay's club-record 16-game home point streak. Sergei Bobrovsky's 29 saves helped him set a record for most NHL wins by a Russian goaltender (354). Jesse Ylonen, Kaiden Guhle and Christian Dvorak scored third-period goals for the Canadiens, who have won three of four. Travis Boyd, Barrett Hayton and Jack McBain also scored goals and Clayton Keller added a pair of assists for Arizona, which snapped a two-game losing streak.

☆ Robinhood says it was subpoenaed by the SEC soon after FTX crashed as regulators crack down on the crypto world
▼ + stars: | 2023-02-28 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +2 min

Robinhood said it received an investigative subpoena by the SEC in December soon after FTX's collapse. The subpoena called for information regarding the trading app's crypto business, it said in a 10-K filing. Regulators are clamping down on the crypto industry following the FTX fiasco – targeting firms including Gemini and Kraken. The investigative subpoena asked for information regarding the company's "supported cryptocurrency listings, custody of cryptocurrencies, and platform operations," it said. At the same time, the company said it will buy back shares seized from FTX founder Sam Bankman-Fried worth more than half a billion.

☆ Bitcoin, ether on track for a positive February despite mid-month drop and fading 2023 risk rally
▼ + stars: | 2023-02-28 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Bitcoin and ether are on pace for a modest February win, even after suffering a big drop earlier in the month. Bitcoin had eked out a 0.2% gain for the month by 4:15 p.m. That led to a brief sell-off in crypto assets that took bitcoin and ether down about 6% and 8.5%, respectively, in the three-day period ended Feb. 10. In the U.S., however, investors are on Fed watch, said James Lavish, managing partner at the Bitcoin Opportunity Fund. "Bitcoin has been the tip of the spear for risk assets for a long time," he said.

☆ NHL roundup: Wild's Kirill Kaprizov caps hat trick in OT
▼ + stars: | 2023-02-27 | by ( ) www.reuters.com time to read: +6 min

Sabers 7, Capitals 4Dylan Cozens delivered his first career hat trick, and Buffalo defeated visiting Washington. Vinnie Hinostroza had a goal and an assist for Buffalo, while Cozens added an assist for the first four-point game of his career. T.J. Oshie scored his fourth goal in three games and added an assist, and Dylan Strome had a goal and an assist. Nick Schmaltz had a goal and an assist, and Shayne Gostisbehere also scored a goal for Arizona. Trocheck added an assist, and Mika Zibanejad and Artemi Panarin each had a goal and an assist.

☆ For the Black community, bitcoin represents an opportunity for wealth preservation
▼ + stars: | 2023-02-24 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

But for many in the Black community, that narrative is still alive and it's imperative that people stay focused on it. There's a long game to play, however, particularly for the Black community. For Black people, that's a golden opportunity to level the playing field and give them "sovereignty" over their wealth, said Lamar Wilson, founder of crypto-focused network Black Bitcoin Billionaire. Fast forward to today, and Black people still largely start their wealth building journeys from behind. Still, within that group, at every income level, there's a big difference in the unbanked rates between Black and white households.

☆ NHL roundup: Bruins edge Kraken on Jake DeBrusk's late tip-in
▼ + stars: | 2023-02-24 | by ( ) www.reuters.com time to read: +7 min

Brandon Carlo scored the first of the Bruins' two third-period goals, while McAvoy and Hampus Lindholm had two assists apiece. The winning goal was DeBrusk's third goal in three games since returning from injuries. Minnesota killed off its 22nd straight penalty in the win and has not given up a power-play goal in nine straight games. Oilers 7, Penguins 2Connor McDavid had two goals and two assists as Edmonton scored seven straight goals to defeat host Pittsburgh. Vincent Trocheck scored the only goal for the Rangers, who have lost three straight following a seven-game winning streak.

☆ Analysis: Stablecoin regulatory crackdown sends warning to industry
▼ + stars: | 2023-02-22 | by ( Hannah Lang | ) www.reuters.com time to read: +5 min

But usage is raising questions from regulators who have expressed concern about the disclosures stablecoin issuers provide, as well as the tokens' potential instability during periods of stress. While the crypto industry has criticized the SEC's broad industry crackdown, the move against Binance USD, the third-biggest stablecoin with about $16 billion in circulation, could lend some guidelines for which stablecoin activities may get scrutinized. SEC Chairman Gary Gensler has previously said he believes some stablecoins are in fact securities, which require registration and additional regulatory oversight. The New York Department of Financial Services also ordered Paxos last week to stop minting Binance USD. But the specific features of tokens like Binance USD have some stablecoin issuers keen to highlight their differences.

☆ What Kraken's SEC settlement means for the crypto industry
▼ + stars: | 2023-02-21 | 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 EmailWhat Kraken's SEC settlement means for the crypto industryKraken's incoming CEO Dave Ripley joins 'Squawk Box' to discuss his lesson from the company's settlement with the SEC, the company's 'off-shore' operations, and more.

☆ Coinbase beats on revenue and earnings, but usage continues to decline
▼ + stars: | 2023-02-21 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +3 min

Coinbase reported user numbers that fell short of analysts' estimates even as fourth-quarter earnings and revenue beat projections. Loss of $2.46 per share, vs. loss of $2.55 per share as expected by analysts, according to Refinitiv. Revenue: $629 million, vs. $590 million as expected by analysts, according to Refinitiv. With crypto staking, investors typically vault their crypto assets with a blockchain validator, which verifies the accuracy of transactions on the blockchain. Haas added that staking was less than 3% of net revenue, so it was not material source of net revenue at this time — but an "important part of the ecosystem" that the platform plans to grow.

☆ NHL roundup: Connor Hellebuyck (50 saves) guides Jets past Rangers
▼ + stars: | 2023-02-21 | by ( ) www.reuters.com time to read: +4 min

Mandatory Credit: Danny Wild-USA TODAY SportsFebruary 21 - Connor Hellebuyck made a season-high 50 saves and the visiting Winnipeg Jets recorded a 4-1 victory over the New York Rangers on Monday night. Kyle Connor had a goal and two assists while Pierre-Luc Dubois added a goal for Winnipeg. The Ducks, who have lost five straight games, got 51 saves from John Gibson, the NHL leader in losses (10-23-6). Pastrnak's 40th goal of the season broke a 1-1 tie with 2:54 remaining in the second period. Charlie McAvoy assisted on all three Boston goals, and Jake DeBrusk scored his second goal in as many games since returning from injuries.

☆ NHL Roundup: Canes rout Caps in Stadium Series
▼ + stars: | 2023-02-19 | by ( ) www.reuters.com time to read: +9 min

Josh Brown and Travis Boyd each had a goal and an assist, and Christian Fischer also scored. Arizona has earned points in eight straight games (4-0-4) for the first time in 11 years. Corey Perry and Vladislav Namestnikov each had a goal and an assist, and Steven Stamkos and Pierre-Edouard Bellemare also scored goals for Tampa Bay. Columbus' Mathieu Olivier collected a goal and two assists, Eric Robinson had one of each and Liam Foudy scored his first career NHL regular-season goal. Joonas Korpisalo turned aside 28 shots for the Blue Jackets, while forward Johnny Gaudreau sat out because of a lower-body injury, ending his streak of playing in 349 straight games.

☆ Lack of Crypto Audit Regulation Raises Questions About PCAOB Authority
▼ + stars: | 2023-02-17 | by ( Mark Maurer | ) www.wsj.com time to read: +6 min

Additionally, there isn’t a regulatory framework for audits for many crypto companies. The SEC, which oversees the PCAOB, is reviewing how crypto companies portray reports from audit firms in the aftermath of the FTX collapse. The PCAOB—which sets audit standards, inspects audits and disciplines audit firms—has said it can only oversee audits of public companies and SEC-registered broker-dealers. In a letter last month to PCAOB Chair Erica Williams, they said the watchdog ignored what they called questionable practices by auditors of crypto companies. Even potential improvements to crypto audit regulation might not prevent fraud in the crypto industry, said Andrew Kitto, an assistant professor of accounting at the University of Massachusetts Amherst and a former PCAOB economic research fellow.

☆ The SEC has accused fugitive Terraform founder Do Kwon of multibillion-dollar crypto fraud linked to TerraUSD's collapse
▼ + stars: | 2023-02-17 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +3 min

The SEC has charged fugitive crypto boss Do Kwon and his company Terraform Labs with alleged fraud. The suit is linked to the collapse of stablecoin TerraUSD which led to a $60 billion wipeout last year. Terraform was "simply a fraud propped up by a so-called algorithmic 'stablecoin'," the SEC alleges. The Securities and Exchange Commission has accused them of misleading US investors about the stability of algorithmic stablecoin TerraUSD, or UST, which was meant to be pegged to the US dollar. At the same time, the SEC is also charging Terraform and Kwon over the sale of unregistered securities, the markets regulator said.

☆ Former Boston Celtics star Paul Pierce settles with SEC over crypto violations
▼ + stars: | 2023-02-17 | by ( Rohan Goswami | ) www.cnbc.com time to read: +3 min

The action against Pierce involves his public statements about EthereumMax, or EMAX, the same crypto security product that the SEC charged influencer Kim Kardashian with unlawfully touting. Pierce is also barred from promoting any crypto asset securities for three years, the SEC said. Pierce's social media support for EthereumMax also involved allegedly misleading the public about his EMAX holdings, according to the SEC. Pierce allegedly shared misleading screenshots of his EMAX holdings and profits, the SEC said, without disclosing that his personal holdings were actually far lower. A federal class action lawsuit naming Pierce, Kardashian, Floyd Mayweather Jr., and other EthereumMax boosters was dismissed in December.

☆ Here are Thursday's biggest analyst calls: Apple, Tesla, Generac, Coinbase, Meta, Roku, Roblox & more
▼ + stars: | 2023-02-16 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Here are Thursday's biggest calls on Wall Street: Bernstein reiterates Tesla as underperform Bernstein said Tesla sharers remain overvalued. Loop reiterates Apple as buy Loop said it sees attractive iPhone revenue upside for Apple. Canaccord upgrades Generac to buy from hold Canaccord said it sees "storm clouds breaking" for shares of Generac. JPMorgan reiterates Roku as overweight JPMorgan said it's standing by shares of Roku after the company's earnings results on Wednesday. " Bernstein reiterates Meta as outperform Bernstein kept its outperform rating on the social media giant and says it likes the company's "clear cost takeout plan."

The proposed amendments to federal custody rules would "expand the scope" to include any client assets under the custody of an investment advisor. The move poses a fresh threat to crypto exchange custody programs, as other federal regulators actively discourage custodians like banks from holding customer crypto assets. "Make no mistake: Today's rule, the 2009 rule, covers a significant amount of crypto assets," Gensler said in a statement. "As the release states, 'most crypto assets are likely to be funds or crypto asset securities covered by the current rule.' In its most recent earnings report, the exchange specified that it keeps customer crypto assets "bankruptcy remote" from hypothetical general creditors, but noted that the "novelty" of crypto assets meant it was uncertain how courts would treat them.

☆ Binance Hires Gemini Executive as Chief Compliance Officer
▼ + stars: | 2023-02-14 | by ( Mengqi Sun | ) www.wsj.com time to read: +2 min

Binance said Noah Perlman has joined as its chief compliance officer from rival Gemini Trust Co., as the cryptocurrency exchange continues to beef up its legal and compliance team amid regulatory scrutiny. Mr. Perlman joined Binance last month after serving as Gemini’s chief operating officer for more than two years. He joined Gemini as its chief compliance officer in 2019. Mr. Perlman’s appointment ends a monthslong search for a compliance chief at Binance, which over the past year or so has been bolstering its compliance team head count. Binance Chief Executive Changpeng Zhao, known as CZ, said on Twitter in September that the exchange planned to hire a few hundred more compliance people.

☆ Crypto markets on edge as U.S. regulatory crackdown on industry intensifies
▼ + stars: | 2023-02-14 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +3 min

Paxos has been ordered by New York regulators to stop issuing the Binance USD (BUSD) stablecoin. On Monday, the New York State Department of Financial Services told Paxos to stop minting new Binance USD, or BUSD, stablecoins . Investors are digesting a number of major regulatory actions in the U.S., as authorities look to rein in the once free-wheeling cryptocurrency industry. Digital currency markets are on edge after a flurry of aggressive regulatory actions from U.S. authorities over the past few days. There is no official SEC action against Paxos currently.

☆ BUSD: US regulator orders Paxos to halt new issues of Binance-branded stablecoin
▼ + stars: | 2023-02-14 | by ( Michelle Toh | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —New York’s top financial regulator has ordered a crypto company to stop minting a major stablecoin, widening a clampdown on the embattled digital assets sector. Paxos also said it would “end its relationship” with Binance, the world’s largest crypto exchange. It did not say why the regulator had ordered it to stop issuing BUSD. Last week, the US Securities and Exchange Commission said overseeing crypto assets was a key priority for 2023. According to crypto advocates, the growing global clampdown could undermine the ecosystem for digital assets.

☆ Ark Invest's Cathie Wood buys Coinbase shares for a second straight day
▼ + stars: | 2023-02-14 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Ark Invest's Cathie Wood continued to add to her Coinbase holding despite the increased regulatory crackdown on the crypto industry. Wood snapped up 102,281 shares of the crypto exchange for her flagship ARK Innovation ETF on Monday, and another 16,414 shares for ARK Next Generation Internet ETF . Wood also bought 139,105 shares of Coinbase for the Innovation ETF on Friday. COIN YTD mountain Coinbase Shares of Coinbase rebounded sharply in January with a 65% return, becoming one of ARKK's biggest winners for the month. Wood has been standing by her bold call on bitcoin even amid the fallout in the crypto industry.

☆ Crypto: Regulators are cracking down as FTX fallout casts a shadow over digital assets
▼ + stars: | 2023-02-14 | by ( Allison Morrow | ) edition.cnn.com time to read: +5 min

New York CNN —When FTX collapsed in November, it was a seismic event for the crypto industry. On Monday, New York regulators ordered blockchain firm Paxos to stop issuing BUSD, aka Binance USD, citing “several unresolved issues” related to Paxos’ oversight of its relationship with crypto exchange Binance. Investors typically buy them to store money and facilitate deals within the cryptocurrency infrastructure, making them a bedrock of the crypto ecosystem. “Regulation by enforcement is puzzling for crypto enthusiasts,” said Marcus Sotiriou, market analyst at digital asset broker GlobalBlock, in a note. In January, regulators warned US banks and other market participants about the risks of fraud, volatility, and shoddy risk management in the crypto world.

☆ NHL roundup: Golden Knights score five in third to rout Ducks
▼ + stars: | 2023-02-13 | by ( ) www.reuters.com time to read: +3 min

[1/5] Feb 12, 2023; Las Vegas, Nevada, USA; Vegas Golden Knights left wing William Carrier (28) controls the puck in front of Anaheim Ducks defenseman Dmitry Kulikov (29) during the second period at T-Mobile Arena. Paul Cotter and Brett Howden also scored goals for Vegas, which increased its Pacific Division lead to three points with its third consecutive victory. Adin Hill made 23 saves for the Golden Knights to improve to 5-0-1 all-time against the Ducks. Isac Lundestrom had a goal and an assist and Frank Vatrano also scored for Anaheim. Jordan Eberle had one goal and one assist and Eeli Tolvanen added a goal for the Kraken, who snapped a three-game losing streak.

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