SEC https://www.benzinga.com/views/taxonomy/term/171552 en New SEC Chairman Gary Gensler Confirms A Lot Of Cryptocurrencies 'Are Indeed Securities,' Paving The Way For New Legislation https://www.benzinga.com/markets/cryptocurrency/21/05/21014629/new-sec-chairman-gary-gensler-confirms-a-lot-of-cryptocurrencies-are-indeed-securities-pav <p>Gary Gensler, the new chairman of the Securities and Exchange Commission, believes that more regulation is required in crypto markets.</p> <p><strong>What Happened: </strong>In an interview with <a href="https://www.cnbc.com/2021/05/07/sec-chairman-gary-gensler-says-more-investor-protections-are-needed-for-bitcoin-and-crypto-markets.html" style="color:#0563c1; text-decoration:underline">CNBC</a> on Friday, Gensler said that &ldquo;greater investor protection&rdquo; in the realm of cryptocurrencies was the need of the hour.</p> <p>&ldquo;To the extent that something is a security, the SEC has a lot of authority. And a lot of crypto tokens &mdash; I won&rsquo;t call them cryptocurrencies for this moment &mdash; are indeed securities,&rdquo; he said.</p> <p>Drawing attention to the enforcement actions brought ...</p><p><a href=https://www.benzinga.com/markets/cryptocurrency/21/05/21014629/new-sec-chairman-gary-gensler-confirms-a-lot-of-cryptocurrencies-are-indeed-securities-pav alt=New SEC Chairman Gary Gensler Confirms A Lot Of Cryptocurrencies &#039;Are Indeed Securities,&#039; Paving The Way For New Legislation>Full story available on Benzinga.com</a></p> $BTC CNBC cryptocurrencies Cryptocurrency Fintech Gary Gensler Government News Legal SEC Markets $BTC News Government Cryptocurrency Fintech Legal SEC Markets Benzinga Fri, 07 May 2021 18:18:59 +0000 Samyuktha Sriram 21014629 at https://www.benzinga.com Wall Street Crime And Punishment: Preston Tucker, The Auto Visionary Run Over By The SEC https://www.benzinga.com/news/21/05/20978410/wall-street-crime-and-punishment-preston-tucker-the-auto-visionary-run-over-by-the-sec <p><em>Does crime pay?</em></p> <p><em>Wall Street Crime and Punishment is a weekly series by Benzinga&#39;s Phil Hall that chronicles the bankers, brokers and financial ne&rsquo;er-do-wells whose ambition and greed take&nbsp;them in the wrong direction.</em></p> <p>Roughly six decades before Elon Musk joined the executive team at <strong>Tesla Inc</strong>&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>), another brash and self-confident innovator sought to shake up the automotive industry with bold new ideas.</p> <p>But unlike everyone&rsquo;s favorite dogecoin-touting entrepreneur, Preston Tucker never managed to complement his engineering genius with financial prowess. As a result, Tucker&rsquo;s efforts were detoured due to quirky financial strategies resulting in a federal trial that destroyed his reputation and set the cause of independent automobile manufacturing back by nearly 60 years.</p> <p><strong>The Need For Speed:</strong> Preston Tucker was born on Sept.&nbsp;21, 1903,&nbsp;on a peppermint farm outside of the village of Capac, Michigan. His father was a railroad engineer who died when he was 2 years old. Tucker&nbsp;was raised by his mother, who relocated with her son to the Detroit suburb of Lincoln Park and worked as a teacher.</p> <p>From childhood, Tucker was obsessed with automobiles &mdash;&nbsp;he learned to drive when he was 11 and began purchasing used cars at 16 with the mission of refurbishing and reselling them at a profit. He attended high school at Detroit&rsquo;s Cass Technical High School, but dropped out at the age of 16 to take a job as an office boy in the Cadillac Motor Company, a division of <strong>General Motors&nbsp;Company</strong>&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gm#NYSE">GM</a>).</p> <p>Tucker&rsquo;s duties at Cadillac involving delivering paperwork throughout the company&rsquo;s labyrinthine complex. Seeking to speed up his task without exhausting himself, he bought a pair of roller skates and began zipping through the property&rsquo;s hallways.</p> <p>Tucker&rsquo;s skating was not well received by his co-workers, particularly the young female employees who would get a pinch on their backsides by the teenager on wheels, and his employment came to an abrupt end one afternoon when he skating around a hallway corner and crashed directly into his superior, who found himself flat on the floor with Tucker sprawled on top of him.</p> <p>Tucker skated off Cadillac&rsquo;s payroll and somehow wound up as an officer in the Lincoln Park Police Department. He later admitted he took the job because it enabled him to drive automobiles and motorcycles at great speeds without fear of being arrested.</p> <p>Although he quickly established himself as an honest and hard-working officer who successfully collared several Canadian bootleggers smuggling booze into Prohibition-era Michigan, his penchant for ridiculous recklessness got the best of him &mdash;&nbsp;in trying to improve the efficiency of an aging police car, he opted to make a hole in the cooling system by firing his service revolver into the vehicle. That&nbsp;single shot fatally concluded Tucker&rsquo;s law enforcement career.</p> <p><strong>Building A Better Vehicle:</strong> Tucker took a sales job for the Studebaker automobile line, where he found a hitherto untapped knack for salesmanship. During this time, he became friends with noted race car designer Harry Miller, and in 1935 the duo created Miller and Tucker Inc., with a focus on building racing cars.</p> <p>When World War II broke out in Europe, Tucker believed American involvement would be inevitable, and he began to develop a new generation of combat vehicles to replace the bulky and cumbersome tanks that rolled across the World War I battlefields.</p> <p>Tucker&rsquo;s &ldquo;Combat Car&rdquo; was able to achieve speeds of up to 100 mph, but the Department of War rejected the vehicle with the explanation that the &ldquo;vehicle is too fast for us to use in combat situations.&rdquo;</p> <p>However, the Combat Car included a ...</p><p><a href=https://www.benzinga.com/news/21/05/20978410/wall-street-crime-and-punishment-preston-tucker-the-auto-visionary-run-over-by-the-sec alt=Wall Street Crime And Punishment: Preston Tucker, The Auto Visionary Run Over By The SEC>Full story available on Benzinga.com</a></p> automobiles cars Detroit Elon Musk GM mail fraud Preston Tucker TR TSLA Wall Street Crime and Punishment World War II Education Movers & Shakers Top Stories SEC General GM US37045V1008 TR US8905161076 TSLA US88160R1014 Education Movers & Shakers Top Stories SEC General Benzinga Fri, 07 May 2021 16:15:09 +0000 Phil Hall 20978410 at https://www.benzinga.com Fintech Focus For May 6, 2021 https://www.benzinga.com/fintech/21/05/20977345/fintech-focus-for-may-6-2021 <p><img alt="Fintech Header" src="https://cdn2.hubspot.net/hub/2786381/hubfs/Fintech%20Header.png?upscale=true&amp;width=800&amp;upscale=true&amp;name=Fintech%20Header.png" /></p> <p><strong>Quote To Start The Day:</strong> <em>&ldquo;Creativity is knowing how to hide your sources.&rdquo;</em></p> <p>Source: <a href="https://www.goodreads.com/quotes?page=9&amp;utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz-9BhAugG_F8EhKMQE153IHT3DOKobkdrK5XDSUf6QZy1ZgREEAyJM6eE9m-rYx7_dW5mckR">C.E.M. Joad</a></p> <p><strong>One Big Thing In Fintech: </strong><em>CME Group, the world&rsquo;s leading and most diverse derivatives marketplace, today announced that it will not reopen its physical trading pits that were closed last March due to the outbreak of the COVID-19 pandemic.</em></p> <p>Source: <a href="https://www.marketsmedia.com/cme-closes-most-open-outcry-pits/?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz-9BhAugG_F8EhKMQE153IHT3DOKobkdrK5XDSUf6QZy1ZgREEAyJM6eE9m-rYx7_dW5mckR">Markets Media</a></p> <p><img src="https://cdn2.hubspot.net/hub/2786381/hubfs/giphy-May-05-2021-09-03-28-30-PM.gif?upscale=true&amp;width=800&amp;upscale=true&amp;name=giphy-May-05-2021-09-03-28-30-PM.gif" /></p> <p><strong>Other Key Fintech Developments:</strong></p> <ul> <li>Goldman <a href="https://www.finextra.com/newsarticle/37995/goldman-sachs-invests-in-coin-metrics?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz-9BhAugG_F8EhKMQE153IHT3DOKobkdrK5XDSUf6QZy1ZgREEAyJM6eE9m-rYx7_dW5mckR">invested</a> in Coin Metrics.</li> <li>Divvy set to be <a href="https://www.ksl.com/article/50159660/forbes-utah-fintech-unicorn-divvy-set-to-be-acquired-in-multibillion-dollar-deal?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz-9BhAugG_F8EhKMQE153IHT3DOKobkdrK5XDSUf6QZy1ZgREEAyJM6eE9m-rYx7_dW5mckR">bought</a> by Bill.com.</li> <li>UBS, Lynk <a href="https://finance.yahoo.com/news/ubs-lynk-collaborate-enhance-integration-130000520.html?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz-9BhAugG_F8EhKMQE153IHT3DOKobkdrK5XDSUf6QZy1ZgREEAyJM6eE9m-rYx7_dW5mckR">collaborate</a> on AI tech.</li> <li>Confluence, JPM <a href="https://www.globenewswire.com/news-release/2021/05/05/2223065/0/en/Confluence-and-J-P-Morgan-Expand-Partnership-Integrating-Additional-Asset-Coverage-into-Delta-Risk-and-Performance-Platform.html?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz-9BhAugG_F8EhKMQE153IHT3DOKobkdrK5XDSUf6QZy1ZgREEAyJM6eE9m-rYx7_dW5mckR">grow</a> partnership.</li> <li>Fintech is ...</li></ul><p><a href=https://www.benzinga.com/fintech/21/05/20977345/fintech-focus-for-may-6-2021 alt=Fintech Focus For May 6, 2021>Full story available on Benzinga.com</a></p> alaska air Blackrock Boxed Water CME Fintech Goldman Sachs Tala Tinder UBS visa Wix SEC Fintech SEC Benzinga Wed, 05 May 2021 21:11:09 +0000 Renato Capelj 20977345 at https://www.benzinga.com Why SmileDirectClub Stock Is Down Today https://www.benzinga.com/news/21/05/20936617/why-smiledirectclub-stock-is-down-today <p><strong>SmileDirectClub Inc</strong> (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sdc#NASDAQ">SDC</a>) is trading lower Tuesday morning after the company announced Monday&nbsp;it experienced a&nbsp;cybersecurity attack that will negatively impact the company&#39;s earnings in the first quarter.&nbsp;</p> <p><strong>What Happened:</strong> SmileDirectClub&nbsp;<a href="https://www.sec.gov/Archives/edgar/data/1775625/000177562521000051/a05032021sdc8-k.htm">filed a form 8-K</a>&nbsp;with the Securities and Exchange Commission (SEC) Monday disclosing a system outage caused by a cybersecurity attack.&nbsp;The company ...</p><p><a href=https://www.benzinga.com/news/21/05/20936617/why-smiledirectclub-stock-is-down-today alt=Why SmileDirectClub Stock Is Down Today>Full story available on Benzinga.com</a></p> cybersecurity attack dentist News SDC teledentistry Health Care SEC General SDC News Health Care SEC General Benzinga Tue, 04 May 2021 14:55:26 +0000 Adam Eckert 20936617 at https://www.benzinga.com SEC Delays Yet Another Bitcoin ETF Decision Until June https://www.benzinga.com/markets/cryptocurrency/21/04/20855134/sec-delays-yet-another-bitcoin-etf-decision-until-june <p>The U.S Securities and Exchange Commission has extended the typical 45-day time period to come to a decision on VanEck&rsquo;s Bitcoin ETF application.</p> <p><strong>What Happened: &quot;</strong>The Commission finds that it is appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change and the comments received,&rdquo;&nbsp;said the U.S regulator in a <a href="https://www.sec.gov/rules/sro/cboebzx/2021/34-91695.pdf" style="color:#0563c1; text-decoration:underline">filing</a>.</p> <p>The SEC also named June 17, 2021, as the new date by which&nbsp;the&nbsp;decision&nbsp;will be reached.</p> <p><strong>Why It Matters: </strong>So far, ...</p><p><a href=https://www.benzinga.com/markets/cryptocurrency/21/04/20855134/sec-delays-yet-another-bitcoin-etf-decision-until-june alt=SEC Delays Yet Another Bitcoin ETF Decision Until June>Full story available on Benzinga.com</a></p> $BTC Bitcoin bitcoin ETF Cryptocurrency Fidelity Fintech News VanEck SEC Markets Media ETFs $BTC News Cryptocurrency Fintech SEC Markets Media ETFs Benzinga Thu, 29 Apr 2021 21:33:08 +0000 Samyuktha Sriram 20855134 at https://www.benzinga.com SEC Enforcement Director Alex Oh Quits After 5 Days: What You Need To Know https://www.benzinga.com/news/21/04/20866036/sec-enforcement-director-alex-oh-quits-after-5-days-what-you-need-to-know <p>The U.S. Securities and Exchange Commission (SEC) reported the resignation of Alex Oh as director of the Division of Enforcement after only five days on the job.</p> <p><strong>What Happened:</strong> The SEC announcement of Oh&rsquo;s departure only cited &ldquo;personal reasons&rdquo; for her abrupt exit.</p> <p>Oh worked for two decades at the law firm Paul, Weiss, Rifkind, Wharton &amp; Garrison prior to joining the SEC.</p> <p>According to a <a href="https://www.politico.com/news/2021/04/28/sec-alex-oh-resignation-484955">Politico</a> report, she was part of a reprimand issued on Monday by a federal judge for her conduct in defending <strong>ExxonMobil</strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/xom#NYSE">XOM</a>) in a class-action lawsuit brought ...</p><p><a href=https://www.benzinga.com/news/21/04/20866036/sec-enforcement-director-alex-oh-quits-after-5-days-what-you-need-to-know alt=SEC Enforcement Director Alex Oh Quits After 5 Days: What You Need To Know>Full story available on Benzinga.com</a></p> Alex Oh Indonesia News XOM Management SEC XOM US30231G1022 News Management SEC Benzinga Thu, 29 Apr 2021 15:06:47 +0000 Phil Hall 20866036 at https://www.benzinga.com Largest Crypto Exchange Binance Might Have Broken The Law With Tokenized Tesla Shares, Says BaFin https://www.benzinga.com/markets/cryptocurrency/21/04/20856576/largest-crypto-exchange-binance-might-have-broken-the-law-with-tokenized-tesla-shares-says <p>The German Federal Financial Supervisory Authority (BaFin) is scrutinizing the listing of tokenized <strong>Tesla Inc.</strong> (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) shares on the world&#39;s top cryptocurrency exchange Binance.</p> <p><strong>What Happened:</strong>&nbsp;BaFin <a href="https://www.bafin.de/SharedDocs/Veroeffentlichungen/DE/Verbrauchermitteilung/weitere/2021/meldung_210428_binance_deutschland.html">announced</a> that Binance could have violated security rules when it <a href="https://www.benzinga.com/markets/cryptocurrency/21/04/20576769/why-crypto-exchange-binance-launches-tesla-stock-tokens">listed</a> tokenized shares of electric carmaker Tesla,&nbsp;<strong>MicroStrategy Inc.</strong> (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mstr#NASDAQ">MSTR</a>), and <strong>Coinbase Global Inc.</strong> (NASDAQ: Coin) without filing the required prospectus.</p> <p>The regulator admits that there ...</p><p><a href=https://www.benzinga.com/markets/cryptocurrency/21/04/20856576/largest-crypto-exchange-binance-might-have-broken-the-law-with-tokenized-tesla-shares-says alt=Largest Crypto Exchange Binance Might Have Broken The Law With Tokenized Tesla Shares, Says BaFin>Full story available on Benzinga.com</a></p> $BTC Binance Bitcoin Cryptocurrency Elon Musk Germany MSTR News Tesla TSLA Legal Global SEC Markets Trading Ideas MSTR US5949724083 TSLA US88160R1014 $BTC News Cryptocurrency Legal Global SEC Markets Trading Ideas Benzinga Thu, 29 Apr 2021 13:39:07 +0000 Adrian Zmudzinski 20856576 at https://www.benzinga.com Elon Musk, SEC Sound Alarm On SPACs Again: What Investors Should Know https://www.benzinga.com/government/21/04/20847355/elon-musk-sec-sound-alarm-on-spacs-again-what-investors-should-know <p>One of the most popular ways to take a private company public in the last 12 months has been through a SPAC merger. Among the benefits of choosing a SPAC over a traditional IPO are a quicker route to market and the ability to share forward-looking guidance to investors.</p> <p>The&nbsp;Securities and Exchange Commission (SEC) is now weighing changes that could make SPACs less attractive to private companies.</p> <p><strong>What Happened: </strong>The SEC is contemplating&nbsp;changes to how SPACs operate going forward, according to sources at <a href="https://www.reuters.com/business/exclusive-us-watchdog-weighs-guidance-aimed-curbing-spac-projections-liability-2021-04-27/">Reuters</a>.</p> <p>&ldquo;SPACs are listed shell companies that raise funds to acquire a private company and take it public, allowing targets to sidestep the more onerous regulatory checks of an initial public offering,&rdquo; stated the Reuters&#39; article.</p> <p>One of the big concerns is how SPACs can issue forward guidance five or more years out. Some ...</p><p><a href=https://www.benzinga.com/government/21/04/20847355/elon-musk-sec-sound-alarm-on-spacs-again-what-investors-should-know alt=Elon Musk, SEC Sound Alarm On SPACs Again: What Investors Should Know>Full story available on Benzinga.com</a></p> Elon Musk Government News Regulations Reuters Securities and Exchange Commission SPAC SPACs TSLA IPOs SEC TSLA US88160R1014 News Government Regulations IPOs SEC Benzinga Wed, 28 Apr 2021 21:00:51 +0000 Chris Katje 20847355 at https://www.benzinga.com Coinbase, Digital Currency Group Make Time Magazine's 100 Most Influential Companies List Alongside Tesla, Amazon, Other Giants https://www.benzinga.com/markets/cryptocurrency/21/04/20830855/coinbase-digital-currency-group-make-time-magazines-100-most-influential-companies-list-al <p>Time Magazine has included&nbsp;two top crypto firms in its&nbsp;&ldquo;top 100 most influential companies of 2021&rdquo; list.</p> <p><strong>What Happened:&nbsp;Coinbase Global Inc</strong> (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/coin#NASDAQ">COIN</a>) was included under the category &ldquo;Titans&rdquo; after its public debut on the Nasdaq turned out to be the largest <a href="https://www.benzinga.com/markets/cryptocurrency/21/04/20636806/heres-how-much-coinbase-early-investors-made-from-the-largest-direct-listing-in-history" style="color:#0563c1; text-decoration:underline">direct listing</a> in history with the company valued at $86 billion.</p> <p>&ldquo;It&rsquo;s been a huge year for&nbsp;<a href="https://time.com/tag/cryptocurrency/" style="box-sizing:border-box; transition:all 0.1s ease-in-out 0s; font-variant-ligatures:normal; font-variant-caps:normal; orphans:2; text-align:start; widows:2; -webkit-text-stroke-width:0px; word-spacing:0px; color:#0563c1; text-decoration:underline">cryptocurrencies</a>, but nothing&rsquo;s been as validating as the April 14 direct listing of Coinbase, which operates an exchange where 56 million users buy and sell&nbsp;<a href="https://time.com/5486673/bitcoin-venezuela-authoritarian/" style="box-sizing:border-box; transition:all 0.1s ease-in-out 0s; font-variant-ligatures:normal; font-variant-caps:normal; orphans:2; text-align:start; widows:2; -webkit-text-stroke-width:0px; word-spacing:0px; color:#0563c1; text-decoration:underline">Bitcoin</a>&nbsp;and more,&rdquo;&nbsp;stated <a href="https://time.com/collection/time100-companies/5957220/coinbase/" style="color:#0563c1; text-decoration:underline">Time</a>.</p> <p>Time also named <strong>Digital Currency Group (DCG)</strong>, the asset manager behind the world&rsquo;s largest Bitcoin trust, in its most ...</p><p><a href=https://www.benzinga.com/markets/cryptocurrency/21/04/20830855/coinbase-digital-currency-group-make-time-magazines-100-most-influential-companies-list-al alt=Coinbase, Digital Currency Group Make Time Magazine&#039;s 100 Most Influential Companies List Alongside Tesla, Amazon, Other Giants>Full story available on Benzinga.com</a></p> AMZN Bitcoin COIN Coinbase cryptocurrencies Cryptocurrency FB Fintech MSFT News NFTs Time Magazine TSLA IPOs SEC Markets Tech Media AMZN US0231351067 COIN US21254S1078 MSFT US5949181045 TSLA US88160R1014 FB News Cryptocurrency Fintech IPOs SEC Markets Tech Media Benzinga Wed, 28 Apr 2021 14:33:00 +0000 Samyuktha Sriram 20830855 at https://www.benzinga.com XRP Price Jumps Over 30% After Another SEC Motion In Ripple Lawsuit https://www.benzinga.com/markets/cryptocurrency/21/04/20795779/xrp-price-jumps-over-30-after-another-sec-motion-in-ripple-lawsuit <p>Ripple (XRP) struck back against the United States Securities and Exchange Commission (SEC) in the ongoing legal battle accusing the blockchain firm of infringing securities regulations.</p> <p><strong>What Happened:</strong>&nbsp;According to court documents sharing service <a href="https://www.courtlistener.com/recap/gov.uscourts.nysd.551082/gov.uscourts.nysd.551082.136.0.pdf">CourtListener</a>, the SEC&nbsp;recently&nbsp;delivered a letter to&nbsp;United States Magistrate Judge Sarah Netburn&nbsp;objecting to a motion that would prevent it from requesting data about the transfer of <strong>XRP</strong> (CRYPTO: XRP) to foreign crypto ...</p><p><a href=https://www.benzinga.com/markets/cryptocurrency/21/04/20795779/xrp-price-jumps-over-30-after-another-sec-motion-in-ripple-lawsuit alt=XRP Price Jumps Over 30% After Another SEC Motion In Ripple Lawsuit>Full story available on Benzinga.com</a></p> $BTC Bitcoin Cryptocurrency Ethereum News ripple XRP Legal SEC Markets $BTC News Cryptocurrency Legal SEC Markets Benzinga Tue, 27 Apr 2021 01:47:17 +0000 Adrian Zmudzinski 20795779 at https://www.benzinga.com Newly Appointed Binance.US CEO Believes Crypto Is Fundamental Technology Like Internet https://www.benzinga.com/markets/cryptocurrency/21/04/20722227/newly-appointed-binance-us-ceo-believes-crypto-is-fundamental-technology-like-internet <p>Brian Brooks, the newly-appointed CEO of Binance.Us, the US arm of the world&#39;s top crypto exchange Binance, shared his insights into the company and the crypto market.</p> <p><strong>What Happened:</strong>&nbsp;Brooks,&nbsp;who served as the president of the Office of the Comptroller of the Currency (OCC) under Trump and as chief legal officer at&nbsp;<strong>Coinbase Global Inc</strong> (CRYPTO: COIN), said that he believes that the cryptocurrency market closely resembles the early days of the internet.</p> <p>When asked for his opinion on the recent Bitcoin <a href="https://www.benzinga.com/markets/cryptocurrency/21/04/20673409/bitcoin-plunges-taking-other-cryptocurrencies-with-it">correction</a>&nbsp;during a CNBC <a href="https://www.youtube.com/watch?v=pq7p_W-wum0">interview</a>, he said he doesn&#39;t ...</p><p><a href=https://www.benzinga.com/markets/cryptocurrency/21/04/20722227/newly-appointed-binance-us-ceo-believes-crypto-is-fundamental-technology-like-internet alt=Newly Appointed Binance.US CEO Believes Crypto Is Fundamental Technology Like Internet>Full story available on Benzinga.com</a></p> $BTC Binance Bitcoin CNBC cryptocurrencies Cryptocurrency Exchanges Fintech News Legal Management SEC Markets Tech Media $BTC News Cryptocurrency Fintech Legal Management SEC Markets Tech Media Benzinga Wed, 21 Apr 2021 21:57:39 +0000 Adrian Zmudzinski 20722227 at https://www.benzinga.com Coinbase CEO Brian Armstrong Sold $292M Worth Of Shares On First Trading Day https://www.benzinga.com/markets/cryptocurrency/21/04/20697126/coinbase-ceo-brian-armstrong-sold-292m-worth-of-shares-on-first-trading-day <p>A week after <strong>Coinbase Global Inc</strong>&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/coin#NASDAQ">COIN</a>)&rsquo;s public debut on the Nasdaq, reports have emerged of the crypto exchange&rsquo;s top executives selling a considerable amount of shares on the first day of trading.</p> <p><strong>What Happened:&nbsp;</strong>According to an SEC <a href="https://www.sec.gov/edgar/browse/?CIK=0001679788" style="color:#0563c1; text-decoration:underline">filing</a>, Coinbase CEO Brian Armstrong sold $291.8 million worth of his shares.</p> <p>As per the filings, Coinbase investors, shareholders, and employees&nbsp;sold a total of $5 billion worth of shares &ndash; although venture capital firm Union Square Venture&rsquo;s accounted for ...</p><p><a href=https://www.benzinga.com/markets/cryptocurrency/21/04/20697126/coinbase-ceo-brian-armstrong-sold-292m-worth-of-shares-on-first-trading-day alt=Coinbase CEO Brian Armstrong Sold $292M Worth Of Shares On First Trading Day>Full story available on Benzinga.com</a></p> $BTC Brian Armstrong COIN Coinbase Cryptocurrency News IPOs SEC Markets COIN US21254S1078 $BTC News Cryptocurrency IPOs SEC Markets Benzinga Tue, 20 Apr 2021 11:56:34 +0000 Samyuktha Sriram 20697126 at https://www.benzinga.com What Gary Gensler's Confirmation As SEC Chair Means For Crypto Industry https://www.benzinga.com/markets/cryptocurrency/21/04/20655482/what-gary-genslers-confirmation-as-sec-chair-means-for-crypto-industry <p>Gary Gensler was <a href="https://twitter.com/SenateFloor/status/1382385683982073859" style="color:#0563c1; text-decoration:underline">confirmed</a> by the Senate in a 53-54 vote as the new chair of the U.S Securities and Exchange Commission (SEC) earlier this week.</p> <p><strong>What Happened: </strong>Gensler&rsquo;s confirmation is likely to have a significant impact on the crypto industry, and industry proponents have hypothesized that the U.S could soon see a Bitcoin ETF approval, in addition to the &ldquo;much needed&rdquo; regulatory clarity in the realm of digital assets.</p> <p>&ldquo;While the SEC has a reputation as a black hole for innovators, Gary Gensler recognizes the potential of digital assets,&rdquo;&nbsp;<a href="https://twitter.com/SenLummis/status/1382395070721187840" style="color:#0563c1; text-decoration:underline">tweeted</a> Senator Cynthia Lummis on the eve of Gensler&rsquo;s confirmation.</p> <p>As a former <strong>Goldman Sachs Group Inc</strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gs#NYSE">GS</a>) investment banker and CFTC Chairman, Gensler was always a popular candidate to assume the role of SEC Chair.</p> <p>What sets him apart from his predecessors&nbsp;is that he will be the first cryptocurrency policy and blockchain technology expert to take the reins at the SEC.</p> <p>Gensler, who taught the <a href="https://ocw.mit.edu/courses/sloan-school-of-management/15-s12-blockchain-and-money-fall-2018/" style="color:#0563c1; text-decoration:underline">course</a> &ldquo;Blockchain and Money&rdquo; at MIT, has ...</p><p><a href=https://www.benzinga.com/markets/cryptocurrency/21/04/20655482/what-gary-genslers-confirmation-as-sec-chair-means-for-crypto-industry alt=What Gary Gensler&#039;s Confirmation As SEC Chair Means For Crypto Industry>Full story available on Benzinga.com</a></p> $BTC Bitcoin Blockchain COIN Coinbase cryptocurrencies Cryptocurrency dogecoin GS News SEC Markets ETFs COIN US21254S1078 GS US38141G1040 $BTC News Cryptocurrency SEC Markets ETFs Benzinga Fri, 16 Apr 2021 10:09:22 +0000 Samyuktha Sriram 20655482 at https://www.benzinga.com SEC Could Reclassify SPAC Warrants And Hold Up New Filings: Report https://www.benzinga.com/government/21/04/20609879/sec-could-reclassify-spac-warrants-and-hold-up-new-filings-report <p>The Securities and Exchanges Commission (SEC) has been vocal about making changes to the SPAC industry. The latest change from the SEC could center around how SPAC warrants are classified.</p> <p><strong>What Happened: </strong>Warrants, which are typically issued for SPACs when units begin trading, could be reclassified by the SEC according to <a href="https://www.bloomberg.com/news/articles/2021-04-12/spac-boom-faces-latest-threat-from-sec-in-accounting-discussions?sref=TBDibEcD">Bloomberg</a>. SPAC units typically represent a common share of the SPAC and a portion of a warrant for the SPAC.</p> <p>SPAC sponsor teams are typically given warrants as a reward to find a deal on top of their founder&rsquo;s shares.</p> <p>&ldquo;The evaluation of the accounting for contracts in an ...</p><p><a href=https://www.benzinga.com/government/21/04/20609879/sec-could-reclassify-spac-warrants-and-hold-up-new-filings-report alt=SEC Could Reclassify SPAC Warrants And Hold Up New Filings: Report>Full story available on Benzinga.com</a></p> Bloomberg Government M&A News Regulations SPAC SPACs IPOs SEC News M&A Government Regulations IPOs SEC Benzinga Tue, 13 Apr 2021 21:52:55 +0000 Chris Katje 20609879 at https://www.benzinga.com Fintech Focus For April 13, 2021 https://www.benzinga.com/fintech/21/04/20589971/fintech-focus-for-april-13-2021 <p><img alt="Fintech Header" src="https://cdn2.hubspot.net/hub/2786381/hubfs/Fintech%20Header.png?upscale=true&amp;width=800&amp;upscale=true&amp;name=Fintech%20Header.png" /></p> <p><strong>Quote To Start The Day:</strong> <em>Only make decisions that support your self-image, self-esteem, and self-worth.</em></p> <p>Source: <a href="https://wisdomquotes.com/self-worth-quotes/?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz-_i6rIBsO5XohaFAybsvcUfLkEL1VnMu90famlxeuPU5mCJSbnUGoMPBZAk9XB8n747H6M1">Oprah Winfrey</a></p> <p><strong>One Big Thing In Fintech:</strong> <em>The U.S. Securities and Exchange Commission (SEC) has kicked off its review of WisdomTree&rsquo;s bitcoin ETF application, starting the countdown clock to a final decision.</em></p> <p>Source: <a href="https://www.coindesk.com/sec-begins-review-of-wisdomtree-bitcoin-etf-as-total-number-of-applications-grows-to-8?utm_source=Sailthru&amp;utm_medium=email&amp;utm_campaign=THE%20NODE%20APRIL%2012%202021&amp;utm_term=Blockchain%20Bites&amp;_hsenc=p2ANqtz-_i6rIBsO5XohaFAybsvcUfLkEL1VnMu90famlxeuPU5mCJSbnUGoMPBZAk9XB8n747H6M1">Coindesk</a></p> <p><img src="https://cdn2.hubspot.net/hub/2786381/hubfs/giphy-Apr-12-2021-11-09-57-32-PM.gif?upscale=true&amp;width=800&amp;upscale=true&amp;name=giphy-Apr-12-2021-11-09-57-32-PM.gif" /></p> <p><strong>Other Key Fintech Developments:</strong></p> <ul> <li>Zego, LevelCredit have <a href="https://www.prweb.com/releases/zego_debuts_partnership_with_levelcredit_a_renttrack_company_aiming_to_help_residents_achieve_their_financial_goals/prweb17845691.htm?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz-_i6rIBsO5XohaFAybsvcUfLkEL1VnMu90famlxeuPU5mCJSbnUGoMPBZAk9XB8n747H6M1">teamed</a> up.</li> <li>Coinbase listing to <a href="https://news.crunchbase.com/news/coinbases-direct-listing-to-drive-wave-of-innovation-in-cryptocurrency/?utm_source=cb_daily&amp;utm_medium=email&amp;utm_campaign=20210412&amp;utm_content=intro&amp;utm_term=content&amp;_hsenc=p2ANqtz-_i6rIBsO5XohaFAybsvcUfLkEL1VnMu90famlxeuPU5mCJSbnUGoMPBZAk9XB8n747H6M1">drive</a> innovation.</li> <li>Binance <a href="https://www.theblockcrypto.com/post/101335/binance-launches-tokenized-stock-trading-tesla?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz-_i6rIBsO5XohaFAybsvcUfLkEL1VnMu90famlxeuPU5mCJSbnUGoMPBZAk9XB8n747H6M1">intros</a> token stock trading.</li> <li>GS&rsquo; Marcus is <a href="https://www.crowdfundinsider.com/2021/04/174146-report-claims-workers-at-marcus-part-of-goldman-sachs-are-exiting-due-to-excessive-hours/?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz-_i6rIBsO5XohaFAybsvcUfLkEL1VnMu90famlxeuPU5mCJSbnUGoMPBZAk9XB8n747H6M1">losing</a> workers fast.</li> <li>Nvidia <a href="https://www.theblockcrypto.com/linked/101418/nvidia-estimates-new-crypto-mining-product-hardware?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz-_i6rIBsO5XohaFAybsvcUfLkEL1VnMu90famlxeuPU5mCJSbnUGoMPBZAk9XB8n747H6M1">estimates</a> $150M from mining.</li> <li>Nexoos <a href="https://riotimesonline.com/brazil-news/brazil/brazilian-fintech-nexoos-reaches-the-r500-million-mark-of-smes-loans/?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz-_i6rIBsO5XohaFAybsvcUfLkEL1VnMu90famlxeuPU5mCJSbnUGoMPBZAk9XB8n747H6M1">reaches</a> new lending mark.</li> <li>Iress, Cosaic <a href="https://www.thetradenews.com/iress-partners-with-cosaic-to-integrate-chartiq-with-market-data-platform/?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz-_i6rIBsO5XohaFAybsvcUfLkEL1VnMu90famlxeuPU5mCJSbnUGoMPBZAk9XB8n747H6M1">team</a> on market data.</li> <li>Flutterwave is <a href="https://www.cnn.com/videos/business/2021/04/12/marketplace-africa-fintech-flutterwave-valuation-african-innovation-spc.cnn?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz-_i6rIBsO5XohaFAybsvcUfLkEL1VnMu90famlxeuPU5mCJSbnUGoMPBZAk9XB8n747H6M1">sprouting</a> innovation.</li> <li>MarketAxess <a href="https://www.thetradenews.com/marketaxess-completes-munibrokers-acquisition/?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz-_i6rIBsO5XohaFAybsvcUfLkEL1VnMu90famlxeuPU5mCJSbnUGoMPBZAk9XB8n747H6M1">acquires</a> MuniBrokers.</li> <li>Appzone <a href="https://techcrunch.com/2021/04/12/nigerian-fintech-software-provider-appzone-raises-10m-to-expand-and-grow-engineering-team/?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz-_i6rIBsO5XohaFAybsvcUfLkEL1VnMu90famlxeuPU5mCJSbnUGoMPBZAk9XB8n747H6M1">taps</a> $10M for technology.</li> <li>Hill Harper <a href="https://www.cnbc.com/2021/04/12/actor-hill-harper-launches-the-black-wall-street-fintech-bitcoin-app.html?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz-_i6rIBsO5XohaFAybsvcUfLkEL1VnMu90famlxeuPU5mCJSbnUGoMPBZAk9XB8n747H6M1">launches</a> trade platform.</li> <li>Citi, BoA <a href="https://www.thetradenews.com/citi-and-bank-of-america-join-forces-to-build-fixed-income-trading-platform/?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz-_i6rIBsO5XohaFAybsvcUfLkEL1VnMu90famlxeuPU5mCJSbnUGoMPBZAk9XB8n747H6M1">team</a> over trading platform.</li> <li>BrokerTec <a href="https://www.marketsmedia.com/brokertec-benefits-from-migration-to-cme-globex/?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz-_i6rIBsO5XohaFAybsvcUfLkEL1VnMu90famlxeuPU5mCJSbnUGoMPBZAk9XB8n747H6M1">benefitting</a> from migration.</li> <li>Futures algo trading <a href="https://www.thetradenews.com/machine-learning-futures-algo-trading-surges-at-jp-morgan/?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz-_i6rIBsO5XohaFAybsvcUfLkEL1VnMu90famlxeuPU5mCJSbnUGoMPBZAk9XB8n747H6M1">surges</a> ...</li></ul><p><a href=https://www.benzinga.com/fintech/21/04/20589971/fintech-focus-for-april-13-2021 alt=Fintech Focus For April 13, 2021>Full story available on Benzinga.com</a></p> Archegos Capital Bamboo Bank of America Binance BrokerTec CDC China Circle Citi Cohen Coinbase CoinDesk Cosaic DARPA DeFi Domino's ETF Financial Times Fintech Flutterwave Goldman Sachs Hill Harper HSBC Inflation Intel Iress JPMorgan LevelCredit Marcus MarketAxess mastercard Microsoft MuniBrokers Nexoos Nuance Nuro NVIDIA NYSE Oprah Winfrey Parameta Square Telegram TP ICAP Virus WisdomTree Zego SEC Fintech SEC Benzinga Mon, 12 Apr 2021 23:23:06 +0000 Renato Capelj 20589971 at https://www.benzinga.com