Podcasts about coinbase global inc

As the presidential transition picks up speed, a legal sector that overwhelmingly supported Kamala Harris is preparing for Donald Trump's return to the White House. A handful of Florida-based big law firms with connections to the incoming administration are hoping to leverage those Trump ties, while Democratic-leaning firms are looking to retool. At the same time, a cryptocurrency industry that spent the Biden presidency playing defense is starting to flex its muscle. The pivot includes a rare public warning from the CEO of Coinbase Global Inc., the exchange, to law firms that may hire outgoing government lawyers who had a hand in crypto regulations. On this episode of our podcast, On The Merits, reporters Meghan Tribe and Justin Henry discuss the Trump transition, Coinbase's shot across the bow, and what these new dynamics may mean for the Big Law landscape and the future of crypto. Do you have feedback on this episode of On The Merits? Give us a call and leave a voicemail at 703-341-3690

Woody v. Coinbase Global, Inc.

In a notable shift in the cryptocurrency market, Bitcoin (BTC), the world's leading digital currency, experienced a significant setback. This week, Bitcoin's price plunged by 5.8%, wiping out a week's gains and raising concerns among investors. Despite this downturn, Bitcoin showed resilience, recovering slightly by 1.4% to $41,888. However, this volatility had a substantial impact on the futures market, where $130 million in long positions were lost in a single day, marking the largest loss in recent months. The ripple effects of Bitcoin's fluctuation were felt across related stocks, notably Coinbase Global Inc., which saw a near 6% decrease. Meanwhile, Ethereum (ETH) also closed 5.4% lower. In contrast, the altcoin sector showed signs of growth, with Binance's BNB token and the Layer-2 blockchain token Avalanche (AVAX) recording significant gains, suggesting a diversifying interest in cryptocurrencies beyond Bitcoin. #ProactiveInvestors #Bitcoin #Cryptocurrency #Altcoins #BTC #Ethereum #ETH #BitcoinETF #CryptoMarket #Blockchain #BitcoinHalving #CryptoInvesting #DigitalCurrency #CryptoNews #FuturesMarket #CryptoStocks #Coinbase #Binance #Avalanche #AVAX #Solana #Cardano #Ripple #XRP #CryptoTrends #MarketVolatility #CryptoAnalysis #InvestmentTrends #FinancialMarkets #CryptoTrading #CryptoUpdate #invest #investing #investment #investor #stockmarket #stocks #stock #stockmarketnews

Coinbase Global, Inc., Q3 2023 Earnings Call, Nov 02, 2023

Coinbase Global, Inc., Q2 2023 Earnings Call, Aug 03, 2023

On this day, June 26th, in legal history, the Statute of the International Court of Justice was signed, establishing the International Court of Justice at The Hague. The history of the Statute of the International Court of Justice (ICJ) can be traced back to its predecessor, the Permanent Court of International Justice (PCIJ), which was established under the League of Nations in accordance with Article 14 of the Covenant of the League of Nations. The Council of the League of Nations was responsible for developing the idea of the PCIJ and formed an Advisory Committee of Jurists in 1920 to prepare a report on its establishment. A draft scheme was subsequently presented to the League's Assembly and was unanimously adopted as the Statute of the PCIJ in 1920.While the PCIJ operated independently from the League of Nations, it played a crucial role in resolving contentious cases and providing advisory opinions from 1922 to 1940. In 1946, the ICJ was established with its own Statute, building upon the foundations of the PCIJ's Statute. This process involved redrafting the statute with adjustments based on historical experience. The United Nations Committee of Jurists and the Fourth Committee of the United Nations Conference on International Organization (UNCIO) in San Francisco in 1945 were responsible for finalizing the ICJ Statute.One significant innovation introduced by the ICJ Statute was its close relationship with the United Nations Charter, which provided a structural interrelationship between the ICJ and the broader framework of the United Nations. Significantly, the ICJ defines its role in the judicial settlement of international disputes, as the judicial organ of the legal order of the international community as a whole, and not only of the contending parties appearing before it.Here is kind of a mini-column Tuesday, on a Monday. I wrote in the Week in Insights for Bloomberg on a recent study that had some interesting implications for where the IRS should be directing its influx of capital under the Inflation Reduction Act.Recent research from Harvard University reveals that auditing high-income individuals yields a higher return, with a $1 investment in audits of the top 10% income bracket resulting in a $12 return, compared to $5 for those below the median income. These findings hopefully have policy implications for the IRS and will impact tax practitioners and taxpayers.Week in Insights: Harvard Study Shows Auditing the Rich Pays OffThe US Supreme Court has ruled in favor of Coinbase Global Inc., affirming the company's ability to direct customer and employee disputes into arbitration. The decision, with a 5-4 vote, states that lawsuits filed in federal court must be paused while the defendant pursues an appeal to send the case to arbitration. Justice Brett Kavanaugh, writing for the court, argued that allowing district courts to proceed with pre-trial and trial proceedings during an ongoing appeal would undermine the advantages of arbitration. Business groups supported Coinbase, claiming that permitting litigation to continue would impose unnecessary costs, while consumer advocates argued that judges should have discretion in deciding which claims can proceed during an appeal. The case involved claims against Coinbase by Abraham Bielski regarding losses due to a scammer and allegations of inadequate disclosure in a Dogecoin sweepstakes. The ruling reinforces the power of companies to enforce arbitration clauses and the benefits associated with arbitration agreements in various industries, including the cryptocurrency sector.Coinbase Wins at Supreme Court as Ruling Backs Arbitration (1)U.S. Special Counsel Jack Smith has requested a delay in the start of former President Donald Trump's trial on charges of willful retention of classified government records and obstruction of justice. Smith asked the federal judge to push the trial start date from August 14 to December 11, citing the need for reasonable time for effective preparation. Trump, who is seeking the Republican nomination for the 2024 presidential election, pleaded not guilty to the charges in a federal court in Miami. The trial will adhere to the Classified Information Procedures Act, which governs the handling and disclosure of classified evidence. Smith stated that the delay is necessary to allow Trump's lawyers to obtain security clearances and review classified documents. While Trump's lawyers do not oppose scrapping the August 14 start date, they are expected to file a motion opposing the proposed schedule.US special counsel seeks delay to start of Trump documents trial until December | ReutersU.S. Attorney General Merrick Garland has denied allegations made by an Internal Revenue Service whistleblower that the investigation into Hunter Biden's tax affairs was impeded by the Justice Department. Garland stated that U.S. Attorney David Weiss, who was appointed by former President Trump, had complete authority to make charging decisions on his own regarding Hunter Biden's case. Hunter Biden, the son of President Joe Biden, was charged with two misdemeanor counts of willfully failing to pay income taxes. The charges were revealed in a court filing by Weiss's office, and Hunter Biden has agreed to plead guilty to the charges. Republicans have criticized the plea deal, claiming it is a lenient arrangement. A transcript of an interview with an IRS agent involved in the probe, Gary Shapley, was released, alleging that the Justice Department delayed the case. Shapley claimed that Weiss sought permission to bring charges from anywhere in the country but was denied by Garland. Garland denied the claim, stating that Weiss never made such a request, and emphasized that Weiss had more authority than a special counsel. Hunter Biden's attorney also defended the thoroughness of the investigation.U.S. attorney general denies allegations that Hunter Biden tax probe was stymied | ReutersThe U.S. Justice Department has filed criminal charges against four Chinese chemical manufacturing companies and eight individuals for allegedly trafficking the chemicals used to produce fentanyl, a highly addictive painkiller that has contributed to the opioid crisis in the United States. This marks the first time the U.S. has sought to prosecute Chinese companies involved in manufacturing precursor chemicals for fentanyl. China's foreign ministry responded by urging the U.S. to stop using fentanyl-related pretexts to sanction and prosecute Chinese entities, demanding the release of those "illegally arrested." The move comes after U.S. Secretary of State Antony Blinken's visit to China, where he emphasized the need for Chinese cooperation to address the fentanyl trade. The indicted companies are accused of supplying precursor chemicals to Mexico's Sinaloa Cartel, which has flooded the U.S. with fentanyl. The cases aim to disrupt the fentanyl supply chain and highlight the unique threat posed by the synthetic drug. In addition, Blinken announced plans to convene a virtual ministerial meeting to establish a Global Coalition to Address Synthetic Drug Threats.US files first-ever charges against Chinese fentanyl manufacturers | Reuters Get full access to Minimum Competence - Daily Legal News Podcast at www.minimumcomp.com/subscribe

US equity markets advanced despite a dearth of fresh catalysts, with small capitalisation stocks outperforming - Dow eked out a +10-point or +0.03% rise, with losses for Merck & Co Inc (down -2.74%) and UnitedHealth Group Inc (-2.13%) capping gains. Boeing Co lost -0.71% after the aerospace and defence company said it found new problems with its 787 Dreamliner jets. The defect, which is not a flight safety concern, is connected with a stabilizer fitting, and will lead the company to inspect every plane in inventory before delivery, the company said, adding that “at this time we do not expect that this issue will change our full-year guidance regarding 787 deliveries.” The broader S&P500 added +0.24% to 4,283.85, marking its highest close since 16 August, 2022 but falling just short of entering a technical bull market. A close above 4,292.48 for the S&P500 would mark a 20% rally off the bear-market closing low of 3,577.03 set on 12 October, 2022, meeting the widely accepted definition of the end of a bear market. Financials (up +1.25%) and Consumer Discretionary (+0.99%) led seven of the eleven primary sectors higher overnight. Regional bank stocks traded strongly as did bellwethers like Goldman Sachs Group Inc (up +1.55%) and Morgan Stanley (+2.53). More defensive Health Care (down -0.88%) and Consumer Staples (-0.47%) underperformed. The Nasdaq rose +0.35% to 13,276.42, the highest settlement for the technology-centric index since 20 April, 2022. Apple Inc slipped -0.% a day after the company debuted its highly anticipated virtual reality headset as well as new software at its annual Worldwide Developer Conference. The small capitalisation Russell 2000 rallied +2.69% to 1,855.40, logging its highest close since 9 March. The Russell 2000 has gained +5.4% so far in 2023, compared with an +11.6% gain for the large-capitalisation benchmark S&P 500 and a +26.8% jump for the Nasdaq. Coinbase Global Inc dropped -12.09% after the Securities and Exchange Commission (SEC) sued the cryptocurrency exchange, alleging it has been operating an unregistered securities exchange.

US equity markets advanced despite a dearth of fresh catalysts, with small capitalisation stocks outperforming - Dow eked out a +10-point or +0.03% rise, with losses for Merck & Co Inc (down -2.74%) and UnitedHealth Group Inc (-2.13%) capping gains. Boeing Co lost -0.71% after the aerospace and defence company said it found new problems with its 787 Dreamliner jets. The defect, which is not a flight safety concern, is connected with a stabilizer fitting, and will lead the company to inspect every plane in inventory before delivery, the company said, adding that “at this time we do not expect that this issue will change our full-year guidance regarding 787 deliveries.” The broader S&P500 added +0.24% to 4,283.85, marking its highest close since 16 August, 2022 but falling just short of entering a technical bull market. A close above 4,292.48 for the S&P500 would mark a 20% rally off the bear-market closing low of 3,577.03 set on 12 October, 2022, meeting the widely accepted definition of the end of a bear market. Financials (up +1.25%) and Consumer Discretionary (+0.99%) led seven of the eleven primary sectors higher overnight. Regional bank stocks traded strongly as did bellwethers like Goldman Sachs Group Inc (up +1.55%) and Morgan Stanley (+2.53). More defensive Health Care (down -0.88%) and Consumer Staples (-0.47%) underperformed. The Nasdaq rose +0.35% to 13,276.42, the highest settlement for the technology-centric index since 20 April, 2022. Apple Inc slipped -0.% a day after the company debuted its highly anticipated virtual reality headset as well as new software at its annual Worldwide Developer Conference. The small capitalisation Russell 2000 rallied +2.69% to 1,855.40, logging its highest close since 9 March. The Russell 2000 has gained +5.4% so far in 2023, compared with an +11.6% gain for the large-capitalisation benchmark S&P 500 and a +26.8% jump for the Nasdaq. Coinbase Global Inc dropped -12.09% after the Securities and Exchange Commission (SEC) sued the cryptocurrency exchange, alleging it has been operating an unregistered securities exchange.

Coinbase Global, Inc. Q1 2023 Earnings Call May 04 2023

Ark Investment Management CEO Cathie Wood agrees with Coinbase Global Inc.'s former CTO Balaji Srinivasan‘s bullish forecast for Bitcoin but proposes a different timeline. In a Friday episode of Ark Invest's podcast, Srinivasan reiterated his bold prediction that the king crypto (BTC) will reach $1 million in the next 90 days, citing the current regional banking crisis that he believes will destabilize the dollar and force the Federal Reserve to print more money. Learn more about your ad choices. Visit megaphone.fm/adchoices

US equity markets - Dow fell -530-points or -1.63%, unwinding an earlier rally of ~200-points. The broader S&P500 -1.65%, having been up as much as +0.90% at its session peak. Real Estate (down -3.64%), Financials (-2.44%), Consumer Discretionary (-2.20%) and Energy (-2.11%) all fell over >2% to lead all eleven primary sectors lower. The Nasdaq -1.60%, having traded as +1.3% higher earlier in the session. The small capitalisation Russell 2000 lost -2.83%. Coinbase Global Inc fell over >13% in extended trading (extending an -8.16% decline recorded in regular trading) after the Securities and Exchange Commission (SEC) issued the cryptocurrency exchange a Wells notice, warning that it identified potential violations of U.S. securities law.

US equity markets - Dow fell -530-points or -1.63%, unwinding an earlier rally of ~200-points. The broader S&P500 -1.65%, having been up as much as +0.90% at its session peak. Real Estate (down -3.64%), Financials (-2.44%), Consumer Discretionary (-2.20%) and Energy (-2.11%) all fell over >2% to lead all eleven primary sectors lower. The Nasdaq -1.60%, having traded as +1.3% higher earlier in the session. The small capitalisation Russell 2000 lost -2.83%. Coinbase Global Inc fell over >13% in extended trading (extending an -8.16% decline recorded in regular trading) after the Securities and Exchange Commission (SEC) issued the cryptocurrency exchange a Wells notice, warning that it identified potential violations of U.S. securities law.

Coinbase Global, Inc., Q4 2022 Earnings Call, Feb 21, 2023

US equity markets advanced as investors' attention turned to tonight's AEST January inflation figures - Dow rose +377-points or +1.11%, underpinned by solid gains for Microsoft Corp (up +3.12%), Nike Inc (+2.39%), Salesforce (+2.42%) and Intel Corp (+2.70%). The broader S&P500 climbed +1.14%, with Information Technology (up +1.77%), Consumer Discretionary (+1.46%), Consumer Staples (+1.17%), Financials (+1.10%) and Communication Services (+1.10%) all rising over >1% and leading ten of the eleven primary sectors higher. Energy (down -0.61%) was the only primary sector not to advance overnight. Tesla Inc lost -1.14%. Even those losses combined with those from shorting Coinbase Global Inc (down -1.21%), Microsoft Corp and Lucid Group Inc (up +1.69%) still don't reach the losses incurred by Tesla shorts. Data compiled by S3 partners shows hedge funds have lost US$7.56B shorting the electric vehicle manufacturer on a mark-to-market basis over the last 30 days. That's more than double the losses incurred by the second-least profitable short on the list, Apple Inc (up +1.88%), at US$2.6B. The Nasdaq rallied +1.48%. Meta Platforms Inc rose +3.03% following a Financial Times report saying further job cuts could be in the pipeline. In November, the Facebook parent announced it was laying off around 11K employees, which equates to 13% of its staff. The small capitalisation Russell 2000 rose +1.07%.

US equity markets advanced as investors' attention turned to tonight's AEST January inflation figures - Dow rose +377-points or +1.11%, underpinned by solid gains for Microsoft Corp (up +3.12%), Nike Inc (+2.39%), Salesforce (+2.42%) and Intel Corp (+2.70%). The broader S&P500 climbed +1.14%, with Information Technology (up +1.77%), Consumer Discretionary (+1.46%), Consumer Staples (+1.17%), Financials (+1.10%) and Communication Services (+1.10%) all rising over >1% and leading ten of the eleven primary sectors higher. Energy (down -0.61%) was the only primary sector not to advance overnight. Tesla Inc lost -1.14%. Even those losses combined with those from shorting Coinbase Global Inc (down -1.21%), Microsoft Corp and Lucid Group Inc (up +1.69%) still don't reach the losses incurred by Tesla shorts. Data compiled by S3 partners shows hedge funds have lost US$7.56B shorting the electric vehicle manufacturer on a mark-to-market basis over the last 30 days. That's more than double the losses incurred by the second-least profitable short on the list, Apple Inc (up +1.88%), at US$2.6B. The Nasdaq rallied +1.48%. Meta Platforms Inc rose +3.03% following a Financial Times report saying further job cuts could be in the pipeline. In November, the Facebook parent announced it was laying off around 11K employees, which equates to 13% of its staff. The small capitalisation Russell 2000 rose +1.07%.

Brian Armstrong, chief executive officer and co-founder of Coinbase Global Inc., talks about the impact of the FTX collapse on the crypto industry, the regulation of crypto and why he's signed the giving pledge. Armstrong is on "The David Rubenstein Show: Peer-to-Peer Conversations." This was recorded Dec. 6 in New York.Note: Prosecutors have accused FTX founder Sam Bankman-Fried of laundering customer funds at FTX. Bankman-Fried has pleaded not guilty to the eight criminal counts.See omnystudio.com/listener for privacy information.

Brian Armstrong, chief executive officer and co-founder of Coinbase Global Inc., talks about the impact of the FTX collapse on the crypto industry, the regulation of crypto and why he's signed the giving pledge. Armstrong is on "The David Rubenstein Show: Peer-to-Peer Conversations." This was recorded Dec. 6 in New York.Note: Prosecutors have accused FTX founder Sam Bankman-Fried of laundering customer funds at FTX. Bankman-Fried has pleaded not guilty to the eight criminal counts.See omnystudio.com/listener for privacy information.

FTX, at one point the world's third largest cryptocurrency exchange, went bankrupt, causing the entire cryptocurrency industry to crash. In this episode, hear highlights from Congressional testimony that will explain how FTX was able to grow so large while committing blatant fraud, how it's possible that the government didn't know and didn't do anything to stop it, and hear about a Senate bill that's branded as a solution but has concerning flaws of it's own. Please Support Congressional Dish – Quick Links Contribute monthly or a lump sum via PayPal Support Congressional Dish via Patreon (donations per episode) Send Zelle payments to: Donation@congressionaldish.com Send Venmo payments to: @Jennifer-Briney Send Cash App payments to: $CongressionalDish or Donation@congressionaldish.com Use your bank's online bill pay function to mail contributions to: 5753 Hwy 85 North, Number 4576, Crestview, FL 32536. Please make checks payable to Congressional Dish Thank you for supporting truly independent media! View the show notes on our website at https://congressionaldish.com/cd265-policing-ftx Background Sources Recommended Congressional Dish Episodes CD264: Cryptocurrencies and Blockchain CD235: The Safe Haven of Sanctions Evaders What is FTX? “What is FTX?” Timothy Smith. Dec 22, 2022. Investopedia. Crypto Regulation “U.S. Senate Is Still Confused About How to Regulate Crypto After FTX Collapse.” Kyle Barr. Dec 1, 2022. Gizmodo. “Congressmembers Tried to Stop the SEC's Inquiry Into FTX.” David Dayen. Nov 23, 2022. The American Prospect. “We Already Have Laws to Stop Crypto Fraud.” David Dayen. Nov 17, 2022. The American Prospect. “Why Is Congress Still Writing Crypto Regulations?” David Dayen. Nov 10, 2022. The American Prospect. “Letter to SEC Chair Gary Gensler Regarding Cryptocurrency Inquiries.” Tom Emmer et al. Mar 16, 2022. “Letter to SEC Chair Gary Gensler Regarding Cryptocurrency Inquiries.” emmer.house.gov. Lead-up to FTX Collapse “In about-face, Crypto exchange Binance pulls out of FTX acquisition.” Elizabeth Napolitano. Nov 9, 2022. NBC News. "Crypto exchange FTX saw $6 bln in withdrawals in 72 hours." Tom Wilson and Angus Berwick. Nov 8, 2022. Reuters. “Crypto exchange FTX saw $6 bln in withdrawals in 72 hours.” Tracy Wang and Oliver Knight. Nov 6, 2022. “Binance to Sell Rest of FTX Token Holdings as Alameda CEO Defends Firm's Financial Condition.” Tracy Wang and Oliver Knight. Nov 6, 2022. CoinDesk. “Divisions in Sam Bankman-Fried's Crypto Empire Blur on His Trading Titan Alameda's Balance Sheet.” Ian Allison. Nov 2, 2022. CoinDesk. “Re: Potential Violations of Section 18(a)(4) of the Federal Deposit Insurance Act.” Seth. P Rosebrock, Assistant General Counsel, Enforcement, FDIC. Aug 18, 2022. FDIC. Tom Emmer “SEC Chair Gary Gensler Must Testify Before Congress, Says Rep. Tom Emmer.” André Beganski. Dec 11, 2022. Decrypt. “Meet Tom Emmer, a powerful crypto advocate in a crypto-wary Congress.” Tony Romm. Dec 8, 2022. The Washington Post. “House GOP picks Emmer as GOP whip, Scalise as leader.” Emily Brooks and Mychael Schnell. Nov 15, 2022. The Hill. FTX Collapse “FTX Effort to Save Itself Failed on Questionable Assets.” Shane Shifflett, Rob Barry, and Coulter Jones. Dec 5, 2022. The Wall Street Journal. “FTX Founder Sam Bankman-Fried Says He Can't Account for Billions Sent to Alameda.” Alexander Osipovich. Dec 3, 2022. The Wall Street Journal. “5 major revelations about the collapse of crypto giant FTX.” David Gura. Nov 23, 2022. NPR. “FTX says it owes more than $3 billion to creditors.” Steven Zeitchik. Nov 20, 2022. The Washington Post. “Declaration of John J. Ray III in Support of Chapter 11 Petitions and First Day Pleadings” [Case 22-11068-JTD] Nov 17, 2022. PACER. “Exclusive: At least $1 billion of client funds missing at failed crypto firm FTX.” Angus Berwick. Nov 11, 2022. Reuters. “FTX chief Sam Bankman-Fried resigns as firm files for bankruptcy.” Jacob Bogage and Tory Newmyer. Nov 11, 2022. The Washington Post. “FTX Tapped Into Customer Accounts to Fund Risky Bets, Setting Up Its Downfall.” Vicky Ge Huang, Alexander Osipovich, and Patricia Kowsmann. Nov 11, 2022. The Wall Street Journal. Lobbying and Campaign Donations “Lawmakers who benefited from FTX cash probe its collapse.” Tory Newmyer and Steven Zeitchik. Dec 1, 2022. The Washington Post. “Inside Sam Bankman-Fried's courtship of a Washington regulator.” Tory Newmyer and Peter Whoriskey. Nov 28, 2022. The Washington Post. “Congress took millions from FTX. Now lawmakers face a crypto reckoning.” Tony Romm. Nov 17, 2022. The Washington Post. “FTX Collapse Sets Back Crypto Agenda in Washington.” Paul Kiernan. Nov 14, 2022. The Wall Street Journal. “Washington lobbyists sever ties with FTX founder Sam Bankman-Fried after crypto exchange implodes.” Brian Schwartz. Nov 14, 2022. CNBC. “Sam Bankman-Fried charmed Washington. Then his crypto empire imploded.” Tory Newmyer. Nov 12, 2022. The Washington Post. “Meet the mega-donors pumping millions into the 2022 midterms.” Luis Melgar et al. Oct 24, 2022. The Washington Post. “A young crypto billionaire's political agenda goes well beyond pandemic preparedness.” Freddy Brewster. Aug 12, 2022. Los Angeles Times. Aftermath of the FTX Collapse “Factbox: Global regulatory actions against FTX.” Dec 12, 2022. Reuters. “FTX Founder Sam Bankman-Fried Is Said to Face Market Manipulation Inquiry.” Emily Flitter, David Yaffe-Bellany and Matthew Goldstein. Dec 7, 2022. The New York Times. “Clashes Over FTX Bankruptcy Go Global.” Alexander Osipovich, Alexander Saeedy and Alexander Gladstone. Dec 4, 2022. “Hot Wallets vs. Cold Wallets.” Mar 10, 2022. Cryptopedia. December 13 Hearing “Memorandum To: Members, Committee on Financial Services From: FSC Majority Staff Subject: December 13, 2022, Full Committee Hearing entitled, “Investigating the Collapse of FTX, Part I.” Dec 8, 2022. House Financial Services Committee. “Chart: Four Silos for Recover Purposes.” House Financial Services Committee. Sam Bankman-Fried Indictment “Here is the criminal indictment against Sam Bankman-Fried.” Dec 13, 2022. The New York Times. Bills S.4760 - Digital Commodities Consumer Protection Act of 2022 Audio Sources Investigating the Collapse of FTX, Part I December 13, 2022 House Committee on Financial Services Witness: John J. Ray III, CEO, FTX Group Clip Transcripts Rep. Emanuel Cleaver (D-MO): Have you read the full testimony that was planned by our missing guest [Sam Bankman-Fried]? John Ray I have not read his full testimony. Some pieces of it been relayed to me, but I've not read it. I've not read one word of it actually. Rep. Emanuel Cleaver (D-MO): Yeah, I don't know him personally and probably don't want to. But this testimony is so disrespectful. I mean, there's not a person up here would like to show this to their children. In line two of this message, he says, and I quote, "I would like to start out by firmly stating under oath...* And yeah, I can't even say it publicly. The next two words, absolutely insulting. This is the Congress of the United States. Rep. Warren Davidson (R-OH): So when when customers deposited funds into their FTX accounts, where did the cash go? John Ray: Well, sometimes the money wasn't deposited in the FTX account it was sent to Alameda to begin with. Rep. Warren Davidson (R-OH): It was misdirected from from the start straight to Alameda. John Ray: There was certainly some time period where there's no bank account at .com and then ultimately, if you look at the structure of this, Alameda is essentially a customer on that .com exchange, and effectively, you know, borrowed money from or just transferred money from FTX customers to take its own positions on the Alameda hedge fund. Rep. Patrick McHenry (R-NC): So Alameda research and the venture capital business, what did Alameda research do? John Ray: Essentially made crypto investments, engaged in margin trading, took long and short positions in crypto, essentially invested in crypto. But of course, we now know also invested in over $5 billion of other assets which are in a variety of sectors. Patrick McHenry (R-NC): Can you describe the differences between the FTX.com and FTX.us silos? John Ray: Yes. Very simply FTX.us was for US citizens who wanted to trade crypto; FTX.com, US citizens were not allowed to trade on that exchange. That's very simple. And I would make one other comment, which is separate apart from any of those two silos. It was ledger x, which is a regulated entity regulated by the CFTC, solvent and separate from the FTX.us silo. Patrick McHenry (R-NC): Okay, and that is a distinct silo, that's a distinct company? John Ray: That is a distinct company within the US silo, yes. Patrick McHenry (R-NC): Okay. Patrick McHenry (R-NC):: What was the relationship between FTX.com and FTX.us? Was is there a distinction between the two? John Ray: There was a public distinction between the two. What we're seeing now is that the crypto assets for both ftx.com and for FTX.us were housed in the same database. It's called the AWS system, which is just an acronym for Amazon Web Services. It was all housed in the same web format. Patrick McHenry (R-NC):: And is that distinct from Alameda's assets? John Ray: Yes, it is. John Ray: In essence you know, Alameda was a user, effectively a customer, of FTX.com. That's how it was essentially structured. John Ray: There was no audit at Alameda, no audit at the venture silo. There was audit at the US silo and also audit at the the .com silo. I can't speak to the integrity or quality of those audits. We're reviewing, obviously, the books and records. And as I've said earlier, you know, much of those books and records were maintained on a fairly unsophisticated ledger ledger which works workbooks. John Ray: It's an extensive list, it really crosses the entire spectrum of the company, from lack of lists of bank accounts, hundreds of bank accounts dispersed all over the world, lack of a complete list of employees and their functions by group or name, extensive use of independent contractors as opposed to employees, lack of insurance that you'd normally would see in certain businesses, either inadequate insurance or complete gaps in insurance. For example, the Alameda silo had no insurance whatsoever. So those are I mean, there's, the list goes on and on. You know, we could spend all day on them. John Ray: While many things are unknown at this stage, we're at a very preliminary stage, many questions remain, we know the following. First customer assets at ftx.com were commingled with assets from the Alameda trading platform. That much is clear. Second, Alameda used client funds to engage in margin trading, which exposed customer funds to massive losses. Third, the FTX group went on a spending binge in 2021 and 2022, during which $5 billion was spent on a myriad of businesses and investments, many of which may only be worth a fraction of what was paid for them. Fourth, loans and other payments were made to insiders in excess of $1.5 billion. Fifth, Alameda's business model as a market maker required funds to be deployed to various third party exchanges, which were inherently unsafe and further exacerbated by the limited protections offered in certain of those foreign jurisdictions. John Ray: I accepted the position of Chief Executive Officer of FTX in the early morning hours of November 11 [2022]. It immediately became clear to me that chapter 11 was the best course available to preserve any remaining value of FTX. Therefore, my first act as CEO was authorized the chapter 11 filings. John Ray: It's virtually unlimited in terms of the lack of controls: no centralized records on banking, no daily reconciliations of crypto assets, silos where there's no insurance, inadequate insurance, no independent board, no safeguards that limit, who controls and asset. So senior management literally could get access to any of the accounts in any of the silos. No separateness between customer money and other customer money or other other assets. It's virtually unlimited in terms of the lack of controls. And that's really the point of the unprecedent comment. I've just never seen anything like it in 40 years of doing restructuring work and corporate corporate legal work. It's just a dearth of of information. John Ray: But again, users had multiple accounts. For example, if they had a different trading position, they may have opened multiple accounts. We know it's a big number. It's in the millions on the customer accounts, and we know it's several billion dollars in losses. Assigning those losses to customer accounts will be our next challenge. John Ray: The FTX group's collapse appears to stem from absolute concentration of control in the hands of a small group of grossly inexperienced and unsophisticated individuals who failed to implement virtually any of the systems or controls that are necessary for a company entrusted with other people's money or assets. Some of the unacceptable management practices identified so far include the use of computer infrastructure that gave individuals and senior management access to systems that stored customers' assets without security controls to prevent them from redirecting those assets; the storing of certain private keys to access hundreds of millions of dollars in crypto assets without effective security controls or encryption; the ability of Alameda to borrow funds held at FTX.com to be utilized for its own trading or investments without any effective limits whatsoever; the commingling of assets; the lack of complete documentation for transactions involving nearly 500 separate investments made with FTX group funds and assets. In the absence of audited or reliable financial statements, the lack of personnel and financial and risk management functions, and the absence of independent governance throughout the FTX group, a fundamental challenge we face is there in many respects we are starting from near zero in terms of the corporate infrastructure and record keeping that one would expect in a multibillion dollar corporation. John Ray: The FTX group is unusual in the sense that, you know, I've done probably a dozen large scale bankruptcies over my career, including Enron, of course. Every one of those entities had some financial problem or another, they have some characteristics that are in common. This one is unusual. And it's unusual in the sense that literally, you know, there's no record keeping whatsoever. It's the absence of record keeping. Employees would communicate, you know, invoicing and expenses on on Slack, which is essentially a way of communicating for chat rooms. They use QuickBooks, a multibillion dollar company using QuickBooks. Rep. Ann Wagner (R-MO): QuickBooks? John Ray: QuickBooks. Nothing against QuickBooks, it's very nice tool, just not for a multibillion dollar company. There's no independent board, right? We had one person really controlling this. No independent board. That's highly unusual in the size company this is. And it's made all the more complex because we're not dealing with, you know, widgets or, you know, something that's tangible. We're dealing with with with crypto, and the technological issues are made worse when you're dealing with an asset such as crypto. John Ray: I've just never seen an utter lack of record keeping. Absolutely no internal controls whatsoever. John Ray: The operation of Alameda really depended based on the way it was operated for the use of customer funds. That's the major breakdown here of funds from ftx.com, which was the exchange for non US citizens, those funds were used at Alameda to make investments and other disbursements. John Ray: There's no distinction whatsoever. The owners of the company could really run free reign across all four silos. John Ray: The loans that were given to Mr. Bankman-Fried, not just one loan it was numerous loans, some of which were documented by individual promissory notes. There's no description of what the purpose of the loan was. In one instance, he signed both as the issuer of the loan, as well as the recipient of the loan. But we have no information at this time as to what the purpose or the use of those funds were. And that is part of our investigation. John Ray: At the end of the day, we're not going to be able to recover all the losses here. Money was spent that we'll never get back. There will be losses on the international side. We're hopeful on the US side. He'll answer to others related to what happened here. Our job is just to find the assets and try to get customers their money back as quickly as possible. John Ray: Essentially, they had two exchanges that allowed users to trade crypto, and then there was the hedge fund. It's as simple as that. The users were allowed to make a variety of investments. They had a more expansive ability to trade crypto if you are a non-U.S. citizen on the .com exchange, but I know what's been described publicly is very complex. It is to some extent, but essentially, you had two exchanges, and you had a hedge fund. Inside both the US silos I've mentioned and inside the silos for .com there were regulated entities. We have regulated entities that are, for example, in Japan that are solvent, we had a regulated entity, ledger X, that was solvent. Those are sort of distinct from the other basic operations that we had, which are the two exchanges. John Ray: The principal issue that the company is facing in the crypto area, and from a technology perspective, it is different from the other bankruptcies because it's not a plane, not a boat. It's this crypto asset and it has inherently some difficulties. You know, the assets can be taken or lost. We have assets there in what are called Hot wallets, and those are in cold wallets. Hot wallets are very vulnerable to to hacking. If you've done any looking on the internet, you'll find that hacking is almost ordinary course in this business sector. They're very, lots of vulnerability to the wallets. So that's this company, unfortunately had a very, very challenging record here. You know, for some transfers there was no pathway for it. Our keys aren't stored in a centralized location. We don't know where all of our wallets are. Passwords were sometimes kept in just plain text format. So this company was sort of uniquely positioned to fail. John Ray: So funds were taken from customers, funds were invested, trading losses incurred in Alameda and then funds were deployed, that will never be valued at the same dollar amount. There was over $5 billion of investments made. Certainly, there's some value there and we'll try to get that value and sell those assets. But oftentimes, even when he made those sorts of investments, whether it was directly or through others in management, sometimes he would do that really without any pro forma or any valuation. Not really quite sure how some of the purchase price numbers were derived. So it gives you a sort of worry obviously, that the purchases were overvalued so there's a concern there as well. John Ray: Alameda was a customer, if you will, of the exchange and it's through that customer relationship, plus other arrangements, that allowed Alameda to borrow those funds, and then pick positions on the exchange like anyone, you know, who would hedge an asset in the market. He had unusually large positions, of course, and sometimes they were wrong in those positions, and they resulted in big losses. But ultimately, the commingling issue is the same in a different issue. He took the money from FTX to cover those positions and ultimately, when customers went to get their money back from .com there was a run on the bank. John Ray: The Alameda fund, well that's just the fund that drew resources from the exchanges, so it's really separate, it was not for customers per se, it was just simply a hedge fund. John Ray: For structural purposes and just for ease of presentation, we tried to take the over 100 entities and we put those in four silos. To demystify that, it's very simple. There was a U.S. silo, which was the FTX.us exchange for US investors. There was an international exchange called FTX.com. Again, for non-U.S. persons that invested in crypto. There was Alameda, which is purely a crypto hedge fund, which made other investments, venture capital type investments. Then there's a fourth entity which was purely investments. And although our investigation is not complete, those investments were most likely made with either Alameda money or money that originally came from ftx.com. But that fourth silo is just purely investments Rep. Patrick McHenry (R-NC): And who owned those four silos? John Ray: All those entities are owned or controlled by Sam Bankman-Fried. Rep. Brad Sherman (D-CA): Now I've heard from some on the other side criticizing the SEC and in July in this room I criticized the Head of Enforcement at the SEC for not going after crypto exchanges. But the fact is that without objection I'd like to put on the record a letter signed by 19 Republican members designed to push back on the SEC, a brushback pitch if you're familiar with baseball, attacking the SEC for paying attention to and I quote, "the purported risks of digital assets." And I'd like to put on the record without objection comments from eight members made in this room that were designed to attack the SEC as being Luddite and anti-innovation for their efforts. Rep. Nydia Velázquez (D-NY): Mr. Ray, a number of their debtors in the FTX group are located in offshore jurisdictions. Will this complicate the efforts to retrieve the assets of those there? If so why? John Ray: No, I don't think it will complicate it at all. The various jurisdictions, historically in bankruptcy, and I've been in a number of cross border situations, the jurisdictions will cooperate with each other. The regulators in all these jurisdictions, I think, realize that everyone's there for a common purpose, to protect the victims and recover assets for the victims of these situations. Rep. Nydia Velázquez (D-NY): How much have you been able to secure and where are most of these assets located? John Ray: We've been able to secure over a billion dollars of assets. We've secured those two cold wallets in a secure location. It's an ongoing process, though, which will take weeks and perhaps months to secure all the assets. Rep. Nydia Velázquez (D-NY): Are most creditors located in the US or foreign jurisdictions. John Ray: The majority of the creditors trade through the .com silo and are outside of this jurisdiction, although there are some foreign customers that are on the US silo, and vice versa. Rep. Ann Wagner (R-MO): Reports suggest that ftx.com transferred more than half of its customer funds, roughly $10 billion, to Alameda research. Is that accurate, sir? John Ray: Our work is not done, we don't have exact numbers for you today, but I will say it's several billion dollars, in that range, so we know that the size of the harm was significant. Rep. Maxine Waters (D-CA): Have you seen evidence of such a cover up? Have you seen evidence that there was any independent governance of Alameda separate and apart from that of the exchange? John Ray: The operations of the FTX group were not segregated. It was really operated as one company. As a result, there's no distinction virtually, between the operations of the company and who controlled those operations. Rep. Maxine Waters (D-CA): Did FTX have sufficient risk management systems and controls to appropriately monitor any leverage the business took on and the interconnections it had with businesses, like again, Alameda. John Ray: There were virtually no internal controls and no separateness whatsoever. Why Congress Needs to Act: Lessons Learned from the FTX Collapse December 1, 2022 Senate Committee on Agriculture, Nutrition, and Forestry Witness: Rostin Behnam, Chairman, Commodity Futures Trading Commission Clip Transcripts 18:30 Debbie Stabenow (D-MI): I've said this before and I'll say it again: the Digital Commodities Consumer Protection Act does not -- does not -- take authority away from other financial regulators. Nor does it make the CFTC the primary crypto regulator, because crypto assets can be used in many different ways. No single financial regulator has the expertise or the authority to regulate the entire industry. 24:30 John Boozman (R-AK): Many have asked why is the Ag Committee involved in this? The Ag Committee is involved because this committee and no other committee in the Senate is responsible for the oversight of the nation's commodity markets. Bitcoin, although a crypto currency, is a commodity. It's a commodity in the eyes of the federal courts and the opinion of the SEC Chairman, there is no dispute about this. If there are exchanges where commodities are traded, be it wheat, oil, or Bitcoin, then they must be regulated. It's simply that simple. 32:45 Rostin Behnam: I have asked Congress directly for clear authority to impose our traditional regulatory regime over the digital asset commodity market. 33:00 Rostin Behnam: I have not been shy about my encouragement of bills that contemplate shared responsibility for the CFTC and the Securities Exchange Commission, where the SEC would utilize its existing authority and reporting regime requirements for all security tokens, while the CFTC would apply its market based rules for the more limited subset of commodity tokens, which do not have the same characteristics of security tokens. 41:00 Rostin Behnam: I can though share with this committee with respect to me, my team and I have taken an initial review of my calendar and what we've observed is that my team and I met with Mr. Bankman-Fried and his team. Over the past 14 months, we met 10 times in the CFTC office at their request, all in relation to this DCO this Clearinghouse application. Nine out of the 10 times we were in Washington, one was at a widely held conference in Florida earlier this year. In addition, there were two phone calls, I believe, and a number of messages, all in relation to the DCO application, providing us updates suggesting that they were answering questions from different divisions, and trying as I said, to doggedly move the application along and to get it approved. 48:00 Sen. John Boozman (R-AK): If ftx.com had been a registered U.S. exchange, would the CFTC have been able to mitigate what happened. Rostin Behnam: Senator, you know, with our current authority, the answer is now. We need the authority to get into a CFTC registered exchange, as you point out. If we had that authority, and they were registered, given what we know from the facts about conflicts of interest, commingling funds, books and records, we would have been able to prohibit it. And I would point to what we're doing with Ledger X. On a daily basis our staff is in direct communication not only with Ledger X, but the custodians themselves, able to identify customer property, and customer money. Imagine that scenario with FTX.us if we had a daily lens into the location of customer money and customer property, you can imagine, given what we've learned about what's happened with FTX, we could have certainly prohibited many of the actions that we're hearing about. 1:16:00 Rostin Behnam: In terms of regulation of cash markets, right, the spot market, we simply do not have authority to register cash market exchanges or any intermediary broker dealer entity within that structure and that's what concerns me, this is the gap. 1:59:30 Rostin Behnam: Unfortunately, when we act, it's often after the fact because the information that allows us to bring an enforcement action in digital asset cash commodity markets, is only because information is coming to us from outsiders, from referrals, from tips, from whistleblowers, and this is in stark contrast to some of the surveillance tools and examination tools that we would have if we had a comprehensive regulatory framework over digital asset commodities. 2:07:00 Sen. Dick Durbin (D-IL): There'll be a reporter waiting in the hall -- I've already talked to her this morning -- who will ask you, "Did he ever contribute to your campaign?" I said "Oh, no, I never heard of the man." She said "You're wrong, Senator, he contributed to you." So the cryptocurrency people are active politically. And they are trying to achieve a political end here. It is their right as citizens of this country to do that. But it really calls on us to make sure that whatever we do is credible under those circumstances. 2:22:30 Rostin Behnam: I can't speak to what Mr. Bankman-Fried or anyone at FTX was thinking when they were advocating for regulation, but the remarkable thing is to think about it in the context of compliance and what we've learned about the FTX entities and just thinking about the bill that Senator Stabenow and Boozman introduced, they would have been so far out of compliance that it just wouldn't have even been possible. Legislative Hearing to Review S.4760, the Digital Commodities Consumer Protection Act September 15, 2022 Senate Committee on Agriculture, Nutrition, and Forestry Witnesses: Rostin Behnam, Chairman, Commodity Futures Trading Commission Todd Phillips, Director, Financial Regulation and Corporate Governance, Center for American Progress Shelia Warren, Chief Executive Officer, Crypto Council for Innovation Christine Parker, Vice President, Deputy General Counsel, Coinbase Heath Tarbert, Chief Legal Officer, Citadel Securities Denelle Dixon, Chief Executive Officer, Stellar Development Foundation Digital Assets and the Future of Finance: Understanding the Challenges and Benefits of Financial Innovation in the United States December 8, 2021 House Committee on Financial Services Witnesses: Jeremy Allaire, Co-Founder, Chairman and CEO, Circle Samuel Bankman-Fried, Founder and CEO, FTX Brian P. Brooks, CEO, Bitfury Group Charles Cascarilla, CEO and co-Founder, Paxos Trust Company Denelle Dixon, CEO and Executive Director, Stellar Development Foundation Alesia Jeanne Haas, CEO, Coinbase Inc. and CFO, Coinbase Global Inc. Clip Transcripts 23:30 Sam Bankman-Fried: We are already regulated and licensed. We have many licenses globally. Here in the United States, we are regulated by the states under the money service business and money transmitting regime, and we are regulated nationally by the CFTC where we have a DCO, a DCM, a swap execution facility, and other licensure. 1:13:30 Sam Bankman-Fried: One of the really innovative properties of cryptocurrency markets are 24/7 risk monitoring and engines. We do not have overnight risk or weekend risk or holiday risk in the same way traditional assets do, which allow risk monitoring and de risking of positions in real time to help mitigate volatility. We've been operating for a number of years with billions of dollars of open interest. We've never had customer losses, clawbacks or anything like that. Even going through periods of large movements in both directions. We store collateral from our users in a way which is not always done in the traditional financial ecosystem to backstop positions. And the last thing that I'll say is if you look at what precipitated some of the 2008 financial crisis, you saw a number of bilateral bespoke non-reported transactions happening between financial counterparties which then got repackaged and releveraged again and again and again, such that no one knew how much risk was in that system until it all fell apart. If you compare that to what happens on FTX or other major cryptocurrency venues today, there is complete transparency about the full open interest. There is complete transparency about the positions that are held. There is a robust, consistent risk framework. 1:34:00 Sam Bankman-Fried: In addition to a bunch of international licenses in the United States, we are participating in that system you referenced with the money transmitter and money service businesses license is in addition to that, however, we are also licensed by the CFTC. We have a DCO, a DCM, and other licensure from them through FTX.us derivatives and we look forward to continuing to work with them to build out our product suite. We just submitted a 800 page, I believe, proposal to them a few days ago, which we're excited to discuss and we're also happy to talk with other regulators about potential products in the United States. 2:37:00 Rep. Tom Emmer (R-MN): Now it's my understanding that FTX uses surveillance trade technology akin to the technology national Securities Exchanges use to protect investors and ensure sound spot markets. What does this technology and any other tools FTX uses to protect the spot market from fraud and manipulation look like? Sam Bankman-Fried: Yeah. So, you know, like other exchanges, we do have these technologies in addition to the, you know, new customer policies that we can identify individuals associated with trades. We have surveillance for unusual trading activity. We have manual inspections of anything that you know, gets flagged either by the automated surveillance or by manual inspection. And we do this with the trading activity with deposits and withdrawals and everything else. Rep. Tom Emmer (R-MN): Sounds like you're doing a lot to make sure there is no fraud or other manipulation. Thank you Mr. Bankman-Fried, again, for helping us understand the extensive guardrails a cryptocurrency exchange like FTX has in place to ensure sound crypto spot markets for investors. 2:52:30 Rep. Cindy Axne (D-Iowa): Mr. Bankman-Fried, I'd like to start by asking you the first question. FTX.us has a derivatives platform and recently bought ledger x as part of that. Is that correct? Sam Bankman-Fried: Yes. Rep. Cindy Axne (D-Iowa): Okay, thank you. And that platform is registered with the CFTC. Is that correct? Sam Bankman-Fried: Yep. Rep. Cindy Axne (D-Iowa): Okay, perfect. So I just want to clarify something. And this isn't to say anybody's doing any wrong. It's just to get the lay of the land. You also have an exchange for Bitcoin and other tokens, but that is not registered with either the CFTC or the SEC. Is that correct? Sam Bankman-Fried: That's correct. Currently, neither of them are primary markets regulated for spot Bitcoin to USD markets. Rep. Cindy Axne (D-Iowa): Okay, thank you. And I know you're registered as a money transmitter, but that's not the same kind of oversight that we'll see from a federal market regulator. I also sit on the Agriculture Committee, which oversees the CFTC, so a gap like this is especially concerning to me. And the big problem that I see here, from what I understand, is that the CFTC doesn't have regulatory authority for spot trading of commodities, just their derivatives. So that leaves consumers with inconsistent protections, which is a concern that I have. 2:55:00 Rep. Cindy Axne (D-Iowa): Bitcoin, which has almost a trillion dollars invested in it, has CFTC oversight for people who are trading futures and options, but not for people who are trading the currency itself. Is that right? Sam Bankman-Fried: That is essentially correct. Full FTX Superbowl Commercial with Larry David Tom Brady FTX Commercials Steph Curry FTX Commercial Cover Art Design by Only Child Imaginations Music Presented in This Episode Intro & Exit: Tired of Being Lied To by David Ippolito (found on Music Alley by mevio)

A negative development for NFTs is the announcement by Coinbase Global Inc., the largest crypto exchange in the U.S., that customers using the Apple Inc. operating system will no longer be able to send NFTs using Coinbase's wallet. This is due to a policy change to give Apple 30% of the “gas fees” required to process NFT transactions. ~this episode if sponsored by GALA Games~Gala Games website ➜ https://links.gala.com/PBNGalaGamesGala Music website ➜ https://links.gala.com/PBNGalaMusicGala Film website ➜ https://links.gala.com/PBNGalaFilm

Coinbase Global, Inc., Q3 2022 Earnings Call, Nov 03, 2022

Coinbase Global, Inc., Q2 2022 Earnings Call, Aug 09, 2022

We are back, this week starting with a brief discussion on the strength in consumer spending as reports of recessionary fears smack us in the face. Stock Battle is back, in the crosshairs this week is Absolute Software Corp. (ABST:TSX) a provider of SaaS based endpoint security and data-risk management solutions. Brennan charges in with the Bull case while Brett tries to maul him with the Bear case. Its Alberta (Brett) versus Saskatchewan (Brennan) in a battle for provincial supremacy. Aaron will act as judge, jury, and executioner for this epic battle. In our Your Stock Our Take segment Ryan will take a look at Automation development and manufacturing company, ATS Automation Tooling Systems (ATA:TSX), which plans, designs, builds, commissions, and services automated manufacturing and assembly systems including automated products and test solutions. A listener asks us our thoughts on the company which has consistently posted strong growth over a 10-year time period. Aaron will handle our Star & Dog of the week. Our dog this week is Maple Leaf Foods Inc. (MFI:TSX) which produces packaged food products and prepared meats globally, the stock was down 17% last week following the company's Q2 results. Our Star of the week is Coinbase Global Inc. (COIN:NASDAQ) which offers cryptocurrency trading exchange platform where individuals can buy and sell cryptocurrencies. The stock IPO'd in May 2021 at a price of around $340 per share, recently dropped to the $50 range, but posted significant gains this last week after it had announced a deal with BlackRock. Is it a sign of a recovery or just a dead cat bounce? Aaron will let you know.  

#bitcoin #btc #ripple #xrp #USDT #ada #ethereum #eth #crypto #shib #shiba #solana #cardano #cryptonews #matic #polygon #metaverse #nfts #nft #defi #altcoins #shiba 🔴Disclaimer: este video y su contenido son solo para fines informativos y no constituyen una oferta de venta o intercambio, una solicitud de compra o recomendación de ningún valor, criptomoneda o producto relacionado, ni constituye una oferta para proporcionar inversión asesoramiento u otros servicios relacionados por parte de Crypto Mercados y Pymes. Crypto Mercados y Pymes puede tener una inversión financiera con las criptomonedas discutidas en este video. Al preparar este video, NO se han tenido en cuenta las necesidades financieras o de inversión individuales del espectador ni se ofrece ningún consejo financiero o de inversión. Todas las opiniones expresadas en este video se prepararon en función de la información disponible en el momento en que se escribieron y/o publicaron dichas opiniones. Información modificada o adicional podría hacer que tales opiniones cambien. Enlaces preventa de Satoshi Island: - Web de Tenset.io: https://www.tenset.io/es/gems - Calendario preventa Satoshi Island: https://www.tenset.io/es/news/satoshi-island-tglp-token-and-nft-sale-details - Suscripción Tenset para acudir a la preventa: https://www.tenset.io/es/news/tglp-subscription-5000-10set-now-open - Web del proyecto Satoshi Island: https://www.satoshi-island.com - Perfil en Twitter de Thor: https://twitter.com/MathiesenThor BlackRock Inc se asoció con Coinbase Global Inc en un intento por brindar exposición de activos digitales a sus usuarios. Sin embargo, un experto sugiere que este acuerdo es una situación en la que todos ganan para el token XRP de Ripple. Según WrathofKahneman, BlackRock uniendo fuerzas con Coinbase traerá una gran cantidad de dinero al criptomercado. Mencionó que Robert Mitchnick es el jefe de la división de activos digitales de Blackrock. Mitchnick es uno de los 2 autores del modelo XRP de 2017. Kahneman destacó que BlackRock contrató a Ripple Executive en 2019 para liderar la división de sus activos digitales. En 2018, Susan Athey, profesora de Stanford, y Mitchnick publicaron un artículo sobre el valor de los tokens de Bitcoin y XRP. Sin embargo, Athey ahora es miembro de la Junta de Ripple. Agregó que el documento de valoraciones de 2018 destacó que si XRP demuestra ser exitoso, entonces valdría entre $ 6.37 y $ 32.91. Curiosamente, uno de los autores está trabajando con Coinbase mientras que el otro está en el directorio de Ripple. Mientras tanto, Coinbase eliminó a XRP de la lista por la disputa legal entre Ripple y la SEC. Los documentos de valoración establecen 3 criterios principales Sin embargo, Kahneman agregó que hay un par de cosas importantes que surgieron del documento. Mencionó el estado estable de la demanda. Esto incluye los escenarios completos y mejores de XRP. El documento no incluía cadenas laterales o NFT, ya que no estaba publicado para entonces. La parte más interesante de este documento es que pronostica este rango de éxito para alrededor de 12 años. Entonces, el año ha sido su consideración. Según el documento de valoración, se espera que XRP alcance $ 6- $ 30 para 2030. A partir de ahora, el token XRP ha registrado un aumento de más del 12 % en los últimos 30 días. Se cotiza a un precio promedio de $ 0.381, en el momento de la publicación. Sin embargo, el volumen de operaciones de 24 horas de XRP ha aumentado más del 81 % para situarse en 871,5 millones de dólares.

A mixed session on US equity markets ahead of the key monthly jobs report tonight AEST - Dow eased -86-points or -0.26%, The broader S&P500 dipped -0.08%, Consumer Discretionary (up +0.54%) and Information Technology (+0.42%) leading seven of the eleven primary sectors higher. The Nasdaq added +0.41% to a fresh 3-month high of 12,720.58, with Amazon.com Inc (up +2.19%) and Advanced Micro Devices (+5.93%) notable performers. Energy (down -3.60%) was the worst performing sector for a second consecutive session. The small capitalisation Russell 2000 lost -0.49%. Coinbase Global Inc jumped +10.01% after it announced a tie-up with BlackRock (+0.79%) to provide its institutional clients access to crypto trading and custody services.

A mixed session on US equity markets ahead of the key monthly jobs report tonight AEST - Dow eased -86-points or -0.26%, The broader S&P500 dipped -0.08%, Consumer Discretionary (up +0.54%) and Information Technology (+0.42%) leading seven of the eleven primary sectors higher. The Nasdaq added +0.41% to a fresh 3-month high of 12,720.58, with Amazon.com Inc (up +2.19%) and Advanced Micro Devices (+5.93%) notable performers. Energy (down -3.60%) was the worst performing sector for a second consecutive session. The small capitalisation Russell 2000 lost -0.49%. Coinbase Global Inc jumped +10.01% after it announced a tie-up with BlackRock (+0.79%) to provide its institutional clients access to crypto trading and custody services.

Coinbase Global, Inc., Q1 2022 Earnings Call, May 10, 2022

US equity markets retreated as investors assessed the latest inflation report - Dow down -327-points or -1.02%, unwinding an earlier rally of ~423-points. Visa Inc (up +1.62%) and Merck & Co Inc (+1.57%). The index's -6.5% decline over the past five trading session marks its biggest such decline since 15 June, 2020, according to Dow Jones Market Data. The broader S&P500 lost -1.65% to 3,935.18, touching an intra-session 52-week low (3,928.52) and is now down more than >18% from its 52-week high (and down over >17% calendar year-to-date). Consumer Discretionary (down -3.57%) and Information Technology (-3.30%) both declined over >3% to lead eight of the eleven primary sectors lower. The Energy (up +1.37%) sector helped to limit declines in the Dow and S&P500. The Nasdaq dropped -3.18%. Apple Inc shed -5.18% (dragging its market capitalisation down to ~US$2.37 trillion) and was usurped as the world's largest company by capitalisation by oil giant Saudi Aramco (~US$2.43 trillion). Apple passed Saudi Aramco to become the world's most valuable publicly traded company in 2020. Netflix Inc closed -6.4% lower in the wake of a New York Times report detailing plans by the streaming giant to launch an ad-supported pricing tier and crack down on password sharing. Meta Platforms Inc fell -4.51% and Microsoft Corp -3.32%. The small capitalisation Russell 2000 fell -2.48%. Coinbase Global Inc slumped -26.4% after the crypto exchange reported first-quarter revenue (US$1.17B) below expectations (US$1.48B) after the close of the previous session, impacted by lower crypto asset prices and market volatility.

US equity markets retreated as investors assessed the latest inflation report - Dow down -327-points or -1.02%, unwinding an earlier rally of ~423-points. Visa Inc (up +1.62%) and Merck & Co Inc (+1.57%). The index's -6.5% decline over the past five trading session marks its biggest such decline since 15 June, 2020, according to Dow Jones Market Data. The broader S&P500 lost -1.65% to 3,935.18, touching an intra-session 52-week low (3,928.52) and is now down more than >18% from its 52-week high (and down over >17% calendar year-to-date). Consumer Discretionary (down -3.57%) and Information Technology (-3.30%) both declined over >3% to lead eight of the eleven primary sectors lower. The Energy (up +1.37%) sector helped to limit declines in the Dow and S&P500. The Nasdaq dropped -3.18%. Apple Inc shed -5.18% (dragging its market capitalisation down to ~US$2.37 trillion) and was usurped as the world's largest company by capitalisation by oil giant Saudi Aramco (~US$2.43 trillion). Apple passed Saudi Aramco to become the world's most valuable publicly traded company in 2020. Netflix Inc closed -6.4% lower in the wake of a New York Times report detailing plans by the streaming giant to launch an ad-supported pricing tier and crack down on password sharing. Meta Platforms Inc fell -4.51% and Microsoft Corp -3.32%. The small capitalisation Russell 2000 fell -2.48%. Coinbase Global Inc slumped -26.4% after the crypto exchange reported first-quarter revenue (US$1.17B) below expectations (US$1.48B) after the close of the previous session, impacted by lower crypto asset prices and market volatility.

Bitcoin's stealth rally over the last two weeks has not only pushed it past a key level of $45,000, but it has also put the world's largest cryptocurrency back in the black for the year. The cryptocurrency, which has gained more than 15% since March 11, was trading at around $46,600 as of 7:10 p.m. New York time, breaking out of what had been a narrow $35,000 to $45,000 range since early this year. With these new gains, the coin is now up about 0.6 percent on the year. According to Matt Maley, chief market strategist at Miller Tabak + Co., if Bitcoin continues to break through "in a meaningful way," it will gain a lot of upside momentum. The coin has been stuck in a rut as the Federal Reserve and other central banks withdraw some of the stimulus measures enacted in response to the pandemic downturn. As a result, there is less money available to invest in riskier assets such as cryptocurrency. Furthermore, digital currencies have come under scrutiny, with speculation circulating that they could be used to circumvent Russian sanctions, though many analysts refute that claim. Nonetheless, Bitcoin has increased in value this month, coinciding with broader gains in US stocks. "As we test the top of the 2022 trading range for the fifth time," said Antoni Trenchev, co-founder and managing partner at Nexo, "this is another one of these Bitcoin moments when the narrative could quickly change and investors pile in, propelling the Bitcoin price higher." "It may be time to rouse from the Bitcoin-sideways slumber that has been 2022." Despite an increase in crypto assets under management in March, aggregate trading volumes fell 30% to $259 million, marking the fifth month in a row that they have failed to break the downward trend, according to a CryptoCompare report. Bitcoin was trading significantly above its 50-day moving average, which is currently around $41,085. According to Bespoke Investment Group, this puts it in the 80th to 90th percentile and places it in the "overbought" range. However, while this indicates the possibility of a price decline for many assets, the firm claims that Bitcoin has historically done the opposite. According to Bespoke data, when Bitcoin is in the ninth decile of its spread versus its 50-day average, it has historically gained 16% in the following month, 100% six months later, and 274 percent after a year. "This isn't typically seen for a stock or ETF, but because Bitcoin has mostly traded higher over the years and has a lot of momentum trading behind it, overbought levels have yet to become a headwind for this particular space," Bespoke wrote. According to David Duong, head of institutional research at Coinbase Global Inc., cryptos have experienced shallower drawdowns than US stocks over the past eight weeks. Equities, for example, have dropped by two standard deviations on three separate occasions in recent weeks, whereas Bitcoin has dropped by one standard deviation. "This decoupling is significant in our opinion," Duong wrote in a note, "because it suggests that crypto returns can exhibit less relative volatility compared to other risk assets amid some of the most challenging market conditions we have faced in recent history." "In the short term, this could support an argument for greater (relative) crypto stability."   Support us!

Cryptocurrency trading platform Coinbase Global Inc has blocked 25,000 crypto addresses that were “related to Russian individuals or entities we believe to be engaging in illicit activity”. Bitcoin and Ethereum continued their respective downward trends as sentiment leaves the market, with investors anticipating the conflict in Eastern Europe will go on longer than originally thought, according to analysts.

Coinbase Global, Inc., Q4 2021 Earnings Call, Feb 24, 2022

Las acciones de Coinbase Global Inc cayeron un 1.7%. HSBC dice que no está interesado en comprar Citibanamex. Twitter colocará bonos de alto rendimiento a 8 años. La red social de Donald Trump superó altas expectativas de descarga de la aplicación y sus acciones suben 14%. Barril de petróleo cada vez más caro y las energías limpias ¿Dónde las están dejando? Se resuelve la demanda de la selección de fútbol femenil de USA con el fin de tener igualdad salarial. Booking presenta resultados por encima de lo presupuestado. La deuda mundial llegó a 303 billones de dólares en 2021.

Let's understand the business from the company that wants to create an open financial system for the world!Industry: Software—Application

Huge XRP airdrop news today - Sologenic to Airdrop $250 million + to XRP holders with the launch of a new cost-efficient NFT Marketplace. The SEC has denied fund manager VanEck's proposal for a spot bitcoin ETF.Coinbase Global Inc. (COIN) the largest U.S. cryptocurrency exchange, will allow users to easily share information about their crypto holdings and portfolio with their private or social network, the company said in a blog post Friday. Goldman Sachs maintains its buy rating for Coinbase despite the cryptocurrency exchange's weaker-than-expected third quarter earnings report. https://sologenic.medium.com/sologenic-solo-airdrop-guidelines-faq-9b84e52bd169VanEck Gabor Gurbacs Interview - https://youtu.be/Hog-wGYpnZA

Mastercard has partnered with three digital asset platforms in Asia to allow consumers in the region to rapidly convert cryptos to fiat for use at any Mastercard-accepting store. A list of 70 platforms that have applied to provide digital asset services in Singapore has been provided by the Monetary Authority of Singapore (MAS). Coinbase Global Inc.'s Singapore arm and Binance Holdings are among the notable applicants.

Coinbase Global, Inc., Q3 2021 Earnings Call, Nov 09, 2021

The Dow and S&P500 declined for a third straight session - Dow down -69-points or -0.20% . The broader S&P500 slipped -0.13%, with Energy (down -1.30%) and Materials (-1.02%) both falling over >1%. More defensive sectors outperformed, including Utilities (up +1.79%) and Consumer Staples (+0.77%). Swiss investment bank UBS raised its S&P 500 price target for the end of the year to 4,650 and for 2022 to 4,850. UBS acknowledged that equities are likely to have a pullback at some point, “likely driven by another reset in real yields higher, but other tailwinds should drive the S&P 500 to a new high by year end.” The Nasdaq fell -0.57%, its first fall in five sessions and a day after logging its 36th record closing high (15,374.33) of 2021. The small capitalisation Russell 2000 lost -1.14%. Coinbase Global Inc fell -3.2% after the cryptocurrency exchange revealed it received a notice of possible enforcement action from the Securities and Exchange Commission over lending practices.

The Dow and S&P500 declined for a third straight session - Dow down -69-points or -0.20% . The broader S&P500 slipped -0.13%, with Energy (down -1.30%) and Materials (-1.02%) both falling over >1%. More defensive sectors outperformed, including Utilities (up +1.79%) and Consumer Staples (+0.77%). Swiss investment bank UBS raised its S&P 500 price target for the end of the year to 4,650 and for 2022 to 4,850. UBS acknowledged that equities are likely to have a pullback at some point, “likely driven by another reset in real yields higher, but other tailwinds should drive the S&P 500 to a new high by year end.” The Nasdaq fell -0.57%, its first fall in five sessions and a day after logging its 36th record closing high (15,374.33) of 2021. The small capitalisation Russell 2000 lost -1.14%. Coinbase Global Inc fell -3.2% after the cryptocurrency exchange revealed it received a notice of possible enforcement action from the Securities and Exchange Commission over lending practices.

Coinbase Global, Inc., Q2 2021 Earnings Call, Aug 10, 2021

Dogecoin got a new lease on life Wednesday, with the price rallying sharply after Coinbase Global Inc. said it would allow users to trade the joke cryptocurrency on a platform that is geared toward more experienced investors. Tweets from Tesla CEO Elon Musk also provided a boost.Guest: Clayton Morris, Host of Morning InvestMorning Invest Youtube channel ➜ http://bit.ly/ClaytonMorning#Dogecoin #MorningInvest #Doge~Dogecoin Comeback? | w/ Clayton Morris~⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺Subscribe on YouTube ✅ https://bit.ly/PBNYoutubeSubscribeFacebook

On Tuesday, Coinbase Global Inc announced a partnership with Apple and Alphabet Inc's Google. Users will be able to add cards from their accounts to the internet titans' payment applications. According to the corporation, every bitcoin would be instantly converted to US dollars and transferred to a customer's card.

Beware the headline makers! According to Wall Street lore when a financial asset hits the front pages it can signal a turning point, either a recovery if negative, or a fall if positive. What’s making headlines today? Bitcoin and other cryptocurrency-related investments, including dogecoin, a meme-inspired cryptocurrency created as a joke in 2013. “This is absurd,” said Billy Markus, the co-creator of dogecoin. “I haven’t seen anything like it. It’s one of those things that once it starts going up, it might keep going up.” Dogecoin however is not the real story. Bitcoin, the world’s first and largest digital currency is, as well as Ethereum, the second largest and the blockchain networks they support. And there are other players emerging. Coinbase Global Inc, the largest market exchange for digital currencies went public on the Nasdaq this week and its $85 billion market value easily surpassed that of the Nasdaq itself and ICE, the parent company of the New York Stock Exchange. The cryptocurrency world has gone from fringe to close to the mainstream since our last conversation a year ago. Hougan will explain what’s driving the transformation, who the key players are, where the industry is going and the implications for investors. There is no question that Bitcoin and Coinbase and a few other cryptocurrency-related investments have arrived. As we write this Bitcoin’s market value is over one trillion dollars. On Wall Street money talks. Major firms including Goldman Sachs, Morgan Stanley, and BlackRock are now offering Bitcoin products to clients. Our guest this week had the foresight and guts to get involved in ETFs in their early stages and more recently, in 2018 he threw his energy and career into cryptocurrencies believing they would become the next big, positive innovation for investors. WEALTHTRACK #1743 originally broadcast on April 23, 2021 More info: https://wealthtrack.com/bitcoin-entrepreneur-matt-hougan-explains-why-cryptocurrencies-are-suddenly-going-mainstream/ Matt Hougan in April of 2020: https://wealthtrack.com/flows-into-etfs-and-long-term-returns-on-bitcoin-are-staggering-matt-hougan-is-an-expert-on-both/ --- Support this podcast: https://anchor.fm/wealthtrack/support

Als Marktplatz zum Handeln von Crypto-Währungen gilt Coinbase klar zu den großen Gewinnern des jüngsten Hypes um Bitcoin und Co. Das Unternehmen wurde 2012 von Brian Armstrong gegründet und erhielt Finanzierung von prominenten Geldgebern wie etwa dem Venture-Capital-Fonds Andreessen Horowitz. Vor wenigen Tagen ging Coinbase durch ein direktes Listing an die Börse und stieg kurzzeitig auf eine Bewertung von über $100 Milliarden. Im Rahmen dieser Folge schauen wir uns die Wettbewerber aber auch die zentralen Stärken des Unternehmens genauer an und geben eine Einschätzung bezüglich der Coinbase Marktkapitalisierung. Disclaimer: Alle Folgen sowie die Hinweise und Informationen stellen keine Anlageberatung oder Empfehlung dar. Sie wurden nach bestem Wissen und Gewissen aus öffentlich zugänglichen Quellen übernommen. Alle zur Verfügung gestellten Informationen (alle Gedanken, Prognosen, Kommentare, Hinweise, Ratschläge etc.) dienen allein der Bildung und der privaten Unterhaltung. Eine Haftung für die Richtigkeit kann in jedem Einzelfall trotzdem nicht übernommen werden.Sollten die Besucher dieses Podcasts sich die angebotenen Inhalte zu eigen machen oder etwaigen Ratschlägen folgen, so handeln sie eigenverantwortlich. Folgt uns auch gerne bei Instagram: https://www.instagram.com/pokingthebull/

It's been the biggest financial news for months. It's not the S&P 500 … or COVID-19 recovery plays. It's not even tech stocks. It's cryptocurrency: Bitcoin. Ethereum. Litecoin. Polkadot. Yes, even dogecoin. All of these digital currencies languished in 2020 only to push to new highs at the turn of the new year. Couple that with the recent Coinbase Global Inc. (Nasdaq: COIN) initial public offering and cryptocurrency is all retail investors can talk about. Pro tip: I recently asked chief investment strategist Adam O'Dell about investing in Coinbase. Hear what he had to say about it https://www.youtube.com/watch?v=bA1naJKWCjs (here). But buying cryptos is not easy, and the market is extremely volatile. After reaching $63,000 just a week ago, bitcoin fell 12% in seven days. That leads into my stock selection for today's episode of The Bull & The Bear podcast. It's like investing in the core of cryptos, without trying to find the right stock. Be sure to also subscribe to our https://www.youtube.com/channel/UCt9RDMMAOPBAIWODmDGactQ?sub_confirmation=1 (YouTube channel) for more videos like my weekly Marijuana Market Update. Have something you want us to talk about? Email thebullandthebear@moneyandmarkets.com and give us your thoughts. Check out https://moneyandmarkets.com/ (moneyandmarkets.com), and sign up for our free newsletters that deliver you the most important and unbiased financial news, commentary, and actionable advice. Also, follow us on: https://www.facebook.com/moneyandmarkets (Facebook) https://twitter.com/TheMoneyMarkets (Twitter) https://www.linkedin.com/company/money-and-markets (LinkedIn)

Coinbase Global Inc è stata valutata a $ 86 miliardi alla fine del suo debutto al Nasdaq mercoledì, in una giornata instabile di negoziazione quando la sua valutazione è arrivata a $ 112 miliardi.ASCOLTA: Spotify: https://open.spotify.com/show/2jWyFH6acW3yZ5WAicmvQxGUADAGNA: Coinbase (guadagna cryoto gratis): http://bit.ly/32T5CBgSUPPORTA: Podcast: https://anchor.fm/bitcoin-informa/supportDECENTRALIZZA: Peepeth: https://peepeth.com/bitcoinformaCOMUNICA: Telegram: https://t.me/bitcoinformaAGGIORNA: Twitter: https://twitter.com/bitcoinforma1#coinbase, #cryptocurrency , #bitcoin , #blockchain , #btc , #crypto , #price , # notizie, #instacryptocurrency, #instabitcoin , #andamento, #analisi, #cryptonews, #cardanoada, #ada, #altcoin--- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/appSupport this podcast: https://anchor.fm/bitcoin-informa/support

Coinbase Global Inc è stata valutata a $ 86 miliardi alla fine del suo debutto al Nasdaq mercoledì, in una giornata instabile di negoziazione quando la sua valutazione è arrivata a $ 112 miliardi. ASCOLTA: Spotify: https://open.spotify.com/show/2jWyFH6acW3yZ5WAicmvQx GUADAGNA: Coinbase (guadagna cryoto gratis): http://bit.ly/32T5CBg SUPPORTA: Podcast: https://anchor.fm/bitcoin-informa/support DECENTRALIZZA: Peepeth: https://peepeth.com/bitcoinforma COMUNICA: Telegram: https://t.me/bitcoinforma AGGIORNA: Twitter: https://twitter.com/bitcoinforma1 #coinbase, #cryptocurrency , #bitcoin , #blockchain , #btc , #crypto , #price , # notizie, #instacryptocurrency, #instabitcoin , #andamento, #analisi, #cryptonews, #cardanoada, #ada, #altcoin --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app Support this podcast: https://anchor.fm/bitcoin-informa/support

Host Alix Steel speaks with Bloomberg Macro Strategist Laura Cooper, Bloomberg Intelligence Commodity Strategist Mike McGlone, and Bloomberg Intelligence Senior Bank Analyst Alison Williams. They discuss the vaccine rollout in Europe, bank earnings, and Coinbase Global Inc.'s public debut. Plus, we hear from Federal Reserve Chairman Jerome Powell speaking at a virtual Q&A hosted by the Economic Club of Washington.

A mixed session on Wall Street despite some stellar first quarter results from a brace of banks to kick off the earnings season – Dow added +54-points or +0.16% to 33,730.89, settling ~0.5% below is 23 March record closing high (32,423.15). The Dow pared an earlier climb of over >200-points that lifted the index to a fresh record intra-session high (). The broader S&P500 eased -0.41% a day after logging its 21st record closing high (4,141.59) of 2021 but touched a fresh record intra-day high (4,151.69). Consumer Discretionary (down -1.17) and Information Technology (-1.1%) both fell over >1% to be the worst performing primary sectors. Energy gained +2.91% to comfortably lead the primary sector gains. Costco Wholesale Corp edged ~0.1% higher in after hours trading after lifting its dividend more than >12% to US$0.79c per share. The Nasdaq fell -0.99%. Netflix Inc (down -1.97%) and Facebook Inc (-2.24%) dropped more than >2% each, which Amazon.com Inc (-1.97%), Microsoft Corp (-1.12%) and Apple Inc (-1.79%) all dipped at least 1%. Coinbase Global Inc, the biggest U.S. cryptocurrency exchange and one of the first crypto exchanges to go public, settled at a +31.3% premium to its US$250 issue price and was briefly valued above $100B after touching a session peak of US$429. Dell Technologies Inc rallied over >8% in extended trading after announcing a plan to spin off its 80.8% stake in VMware Inc (up +2.77% in extended trading) to shareholders. Dell holders would receive 0.44 VMware shares for each Dell share held, subject to adjustment prior to close. The small capitalisation Russell 2000 index rose +0.8%.

A mixed session on Wall Street despite some stellar first quarter results from a brace of banks to kick off the earnings season – Dow added +54-points or +0.16% to 33,730.89, settling ~0.5% below is 23 March record closing high (32,423.15). The Dow pared an earlier climb of over >200-points that lifted the index to a fresh record intra-session high (). The broader S&P500 eased -0.41% a day after logging its 21st record closing high (4,141.59) of 2021 but touched a fresh record intra-day high (4,151.69). Consumer Discretionary (down -1.17) and Information Technology (-1.1%) both fell over >1% to be the worst performing primary sectors. Energy gained +2.91% to comfortably lead the primary sector gains. Costco Wholesale Corp edged ~0.1% higher in after hours trading after lifting its dividend more than >12% to US$0.79c per share. The Nasdaq fell -0.99%. Netflix Inc (down -1.97%) and Facebook Inc (-2.24%) dropped more than >2% each, which Amazon.com Inc (-1.97%), Microsoft Corp (-1.12%) and Apple Inc (-1.79%) all dipped at least 1%. Coinbase Global Inc, the biggest U.S. cryptocurrency exchange and one of the first crypto exchanges to go public, settled at a +31.3% premium to its US$250 issue price and was briefly valued above $100B after touching a session peak of US$429. Dell Technologies Inc rallied over >8% in extended trading after announcing a plan to spin off its 80.8% stake in VMware Inc (up +2.77% in extended trading) to shareholders. Dell holders would receive 0.44 VMware shares for each Dell share held, subject to adjustment prior to close. The small capitalisation Russell 2000 index rose +0.8%.

Investor demand for all things #crypto surged amid #Coinbase Global Inc.’s public debut on Wednesday. Joining Jackie Cameron for BizNews, to discuss the direct listing of the biggest US crypto exchange and whether forecasts that Bitcoin is heading towards $100,000 (about R1.5m) are likely to be accurate is Sean Sanders who heads up cryptocurrency business Revix in South Africa. For a primer on cryptocurrency trading, you can put your questions directly to Sean at the BizNews Finance Friday webinar on 23 April. Contact jackie@biznews.com for details.

Investor demand for all things #crypto surged amid #Coinbase Global Inc.’s public debut on Wednesday. Joining Jackie Cameron for BizNews, to discuss the direct listing of the biggest US crypto exchange and whether forecasts that Bitcoin is heading towards $100,000 (about R1.5m) are likely to be accurate is Sean Sanders who heads up cryptocurrency business Revix in South Africa. For a primer on cryptocurrency trading, you can put your questions directly to Sean at the BizNews Finance Friday webinar on 23 April. Contact jackie@biznews.com for details.