INSIDER
Alabama man arrested in SEC social media account hack that led the price of bitcoin to spike
Read full article: Alabama man arrested in SEC social media account hack that led the price of bitcoin to spikeAn Alabama man has been arrested for his alleged role in the January hack of a U.S. Securities and Exchange Commission social media account that led the price of bitcoin to spike, the Justice Department said.
Trump calls for US to be ‘crypto capital of the planet’ in appeal to Nashville bitcoin conference
Read full article: Trump calls for US to be ‘crypto capital of the planet’ in appeal to Nashville bitcoin conferenceFormer President Donald Trump has laid out his plans to wholeheartedly embrace cryptocurrency if elected for a second term.
SEC approves rule requiring some companies to report greenhouse gas emissions. Legal challenges loom
Read full article: SEC approves rule requiring some companies to report greenhouse gas emissions. Legal challenges loomThe U.S. Securities and Exchange Commission on Wednesday approved a rule that will require some public companies to report their greenhouse gas emissions and climate risks.
SEC chair denies a bitcoin ETF has been approved, says account on X was hacked
Read full article: SEC chair denies a bitcoin ETF has been approved, says account on X was hackedThe Securities and Exchange Commissions says a post on X announcing that the agency had approved exchange-traded funds holding bitcoin was “unauthorized,” and that the agency’s account was hacked.
Under court deal, Binance can continue U.S. operations as it battles SEC fraud charges
Read full article: Under court deal, Binance can continue U.S. operations as it battles SEC fraud chargesThe U.S. Securities and Exchange Commission and Binance have reached a court agreement that lets the world’s largest cryptocurrency exchange continue to operate in the United States as it battles SEC fraud charges.
SEC lawsuits against cryptocurrency companies raise questions about industry's future
Read full article: SEC lawsuits against cryptocurrency companies raise questions about industry's futureTwo recent lawsuits filed by the U.S. Securities and Exchange Commission against the world’s biggest cryptocurrency exchanges have reopened tensions between the government and a volatile industry that has been marred by scandals and market meltdowns.
US, China reach deal in dispute over Chinese company audits
Read full article: US, China reach deal in dispute over Chinese company auditsThe U.S. and China have reached a preliminary agreement allowing U.S. regulators to inspect the audits of China-based companies whose stocks are traded on U.S. exchanges.
Wall Street investor Hwang, once worth billions, arrested
Read full article: Wall Street investor Hwang, once worth billions, arrestedThe owner of a New York-based hedge fund that collapsed when it defaulted on margin calls has been arrested on charges alleging he defrauded leading global investment banks and brokerages.
Treasury report calls for stricter oversight of stablecoins
Read full article: Treasury report calls for stricter oversight of stablecoinsThe Biden administration is calling on Congress to pass legislation that would strengthen government regulation of stablecoins, a form of cryptocurrency that has soared in popularity in the past year.
GameStop mania severely tested market system, regulator says
Read full article: GameStop mania severely tested market system, regulator saysThe stock market certainly shook when hundreds of thousands of regular people suddenly piled into GameStop early this year, driving its price to heights that shocked professional investors.
Haley, Scott, Rubio advising group pushing for GOP diversity
Read full article: Haley, Scott, Rubio advising group pushing for GOP diversityA group intent on expanding Republican power across state-level offices is rolling out a national effort to diversify and broaden the GOP, with an advisory council headed up by a number of possible future presidential hopefuls.
SEC approves Nasdaq's plan to require board diversity
Read full article: SEC approves Nasdaq's plan to require board diversityThe Securities and Exchange Commission has approved Nasdaq’s groundbreaking proposal to boost the number of women, racial minorities and LGBTQ people on U.S. corporate boards.
SEC's Gensler says crypto investors need more protection
Read full article: SEC's Gensler says crypto investors need more protectionThe chairman of the Securities and Exchange Commission said that investors need more protection in the cryptocurrency market, which he said is “rife with fraud, scams and abuse.”.
US regulators step up scrutiny of IPO hopefuls from China
Read full article: US regulators step up scrutiny of IPO hopefuls from ChinaChinese companies hoping to sell their shares in the United States must start making more disclosures about their potential risks before U.S. regulators will allow them to list their stock.
Top US regulators pledge to seek reforms for money markets
Read full article: Top US regulators pledge to seek reforms for money marketsTop regulators are pledging to push reforms in a key corner of U.S. financial markets that the Federal Reserve and Treasury had to rush to support after it was roiled during the coronavirus outbreak in the spring of 2020.
EXPLAINER: Why has the price of Bitcoin been falling?
Read full article: EXPLAINER: Why has the price of Bitcoin been falling?The price of the famously volatile digital currency Bitcoin fell nearly 30% at one point Wednesday after the China Banking Association warned member banks of the risks associated with digital currencies.
Biden's pick for SEC flags trading app gimmicks for scrutiny
Read full article: Biden's pick for SEC flags trading app gimmicks for scrutinyHe was asked about the roiling stock-trading drama involving GameStop shares that has spurred clamor for tighter regulation of Wall Street. The GameStop episode prompted lawmakers to raise concern about the business model of Robinhood, the online trading platform that hosted a wave of trading in GameStop. If confirmed to the SEC post, Gensler said, he would work to strengthen transparency and accountability in the markets. Biden’s selection of Gensler to lead the SEC signals a goal of turning the Wall Street watchdog agency toward an activist role after a deregulatory stretch during the Trump administration. The GameStop episode has bolstered political momentum toward tighter regulation of the securities markets, though Republican lawmakers and regulators generally will oppose new rules.
GameStop saga makes Wall Street an issue for Biden team
Read full article: GameStop saga makes Wall Street an issue for Biden teamThe SEC took a deregulatory tilt under chair Jay Clayton, a former Wall Street lawyer appointed by President Donald Trump. The populist strain recalls the anger fueling the Occupy Wall Street movement over the big bank bailouts that Congress brought in response to the financial crisis. At least two of them have closed out January's trading with losses of more than 40%, according to reports by The Wall Street Journal and Bloomberg News. Politicians and critics said Robinhood changed the rules of the road midway through, in favor of Wall Street firms who were still able to trade these shares. Wall Street brokerages, big banks and other financial companies were already expecting the Biden administration to be tougher on them than the Trump regime.
President-elect Biden arrives in Washington with big plans, big problems
Read full article: President-elect Biden arrives in Washington with big plans, big problems“To heal we must remember," the incoming president told the nation at a sunset ceremony at the Lincoln Memorial. “Between sundown and dusk, let us shine the lights into the darkness ... and remember all who we lost,” Biden said. “Tonight, we grieve and begin healing together.”Beyond the pandemic, Biden faces no shortage of problems when he takes the reins at the White House. Biden at his Delaware farewell, held at the National Guard/Reserve Center named after his late son Beau Biden, paid tribute to his home state. As Biden made his way to Washington, five of his Cabinet picks were appearing Tuesday before Senate committees to begin confirmation hearings.
Biden, Harris take break from inaugural prep to mark MLK day
Read full article: Biden, Harris take break from inaugural prep to mark MLK dayFlags are placed on the National Mall, looking towards the Washington Monument, and the Lincoln Memorial, ahead of the inauguration of President-elect Joe Biden and Vice President-elect Kamala Harris, Monday, Jan. 18, 2021, in Washington. As Biden and Harris took breaks from their inaugural preparations to honor the civil rights hero Monday, outgoing President Donald Trump remained out of public view at the White House for the sixth straight day. Biden transition officials, including incoming Homeland Security adviser Liz Sherwood-Randall and the deputy attorney general nominee, Lisa Monaco, held a videoconference with acting heads and career staff from national security agencies to discuss the security situation surrounding Inauguration Day. Even before the Jan. 6 insurrection at the Capitol, inauguration festivities were expected to be muted due to the virus. Mayor Muriel Bowser urged residents to stay away from the city on Inauguration Day.
Biden picks Chopra, Gensler for financial oversight roles
Read full article: Biden picks Chopra, Gensler for financial oversight rolesPresident-elect Joe Biden is set to nominate Rohit Chopra as the director of the Consumer Financial Protection Bureau, tapping a progressive ally of Sen. Elizabeth Warren to helm the agency whose creation she championed. Gensler, a former Goldman Sachs banker, tightened oversight of the complex financial transactions that helped cause the Great Recession. Consumer and investor advocate groups praised the selections of Gensler and Chopra. Mulvaney had been a vocal critic of the consumer agency and made deep changes to it, softening regulations on payday loans, for example, and pulling back on enforcement efforts. As one of two Democratic commissioners on the five-member Federal Trade Commission, Chopra has been an outspoken critic of practices by big companies, especially tech giant Facebook.