Article: Rosen Law Aims To Lead Securities Claims In Robinhood MDL

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Rosen Law Aims To Lead Securities Claims In Robinhood MDL

Elise Hansen, 06 April 2021

The Rosen Law Firm PA on Tuesday sought to spearhead securities claims against Robinhood in newly centralized suits over the stock-trading app’s decision to block users from buying certain volatile stocks such as GameStop.

Cody Todd requested to serve as lead plaintiff for certain Robinhood Markets Inc. customers, with the Rosen Law Firm as lead counsel. The motion is the first such request since the suits were centralized in Florida federal court last week. Continue reading “Article: Rosen Law Aims To Lead Securities Claims In Robinhood MDL”

Article: FINRA Fines Credit Suisse $345K For Worker Oversight Lapse

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FINRA Fines Credit Suisse $345K For Worker Oversight Lapse

Al Barbarino, 06 April 2021

Credit Suisse Securities failed to monitor thousands of its employees’ outside brokerage accounts for “potentially deceptive” trading practices, according to a Financial Industry Regulatory Authority settlement that censures the broker-dealer and slaps it with a $345,000 fine.

The New York-based subsidiary of Credit Suisse Group failed to adequately track whether its new employees had disclosed outside brokerage accounts, according to the settlement, which was published Monday. Continue reading “Article: FINRA Fines Credit Suisse $345K For Worker Oversight Lapse”

Article: RIPPLE’S XRP BLASTS PAST SEC LAWSUIT FEARS TO HIT THREE-YEAR HIGH

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RIPPLE’S XRP BLASTS PAST SEC LAWSUIT FEARS TO HIT THREE-YEAR HIGH

YASHU GOLA, 06 April 2021

XRP bulls are back!

The Ripple blockchain’s native token, which got embroiled in a legal controversy with the US Securities and Exchange Commission over its alleged securities status — and which led to the delisting of its highly traded financial instruments across many US-based crypto exchanges, reached its highest levels in three years this week.

XRP’s price against the US dollar hit $0.948 on Tuesday, up 66.15 percent into April 2021. The token’s major upside move surfaced partly due to a rally across the cryptocurrency market and else due to anticipations that it would walk through the SEC lawsuit unharmed. Continue reading “Article: RIPPLE’S XRP BLASTS PAST SEC LAWSUIT FEARS TO HIT THREE-YEAR HIGH”

Article: Reflecting crypto craze, crypto-related scams spiral higher in the U.K.

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Reflecting crypto craze, crypto-related scams spiral higher in the U.K.

SOPHIE MELLOR, 06 April 2021

As the value of virtual currencies spirals ever higher, so have the scams related to them.

According to new data from the U.K.’s fraud reporting service Action Fraud, scams involving cryptocurrency investment rose 57% across the U.K. in 2020, with a total of 5,581 reports made.

Investors lost a total of £113 million to crypto scammers in 2020, up from £76.6 million the previous year. Continue reading “Article: Reflecting crypto craze, crypto-related scams spiral higher in the U.K.”

Article: After Taking $4.7 Billion Hit, Credit Suisse Executives Step Downs

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After Taking $4.7 Billion Hit, Credit Suisse Executives Step Downs

Alicia McElhaney, 06 April 2021

The hits keep coming for investment banking giant Credit Suisse.

The firm announced Tuesday that it expects to take a CHF 4.4 billion (USD $4.7 billion) writedown following losses related to family office Archegos Capital Management’s failure to meet its margin requirements.

Executives are stepping down, and the firm has launched two investigations: one into Archegos, and another into Credit Suisse’s purchase of Greensill Capital’s supply chain debt. Thomas Gottstein, chief executive officer of the firm, called the losses tied to Archegos “unacceptable.” Continue reading “Article: After Taking $4.7 Billion Hit, Credit Suisse Executives Step Downs”

Article: Robinhood drops the confetti, but advisers aren’t convinced

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Robinhood drops the confetti, but advisers aren’t convinced

Nicole Casperson, 06 April 2021

This week millions of Robinhood users may have noticed that the celebratory confetti graphics that used to rain down after each trade have been replaced with images of floating geometric shapes, according to an announcement from the company last Wednesday. Robinhood also changed the images it displays when a customer signs up for premium service Robinhood Gold or deposits money on the app.

The app’s infamous confetti graphic garnered heavy criticism of its gamification strategy during a Feb. 18 congressional hearing where Chief Executive Vlad Tenev testified. Continue reading “Article: Robinhood drops the confetti, but advisers aren’t convinced”

Article: Could I be missing something? 4+ bear potential cases against gold and silver

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Could I be missing something? 4+ bear potential cases against gold and silver

Lobo Tiggre, 06 April 2021

Novelist-philosopher Ayn Rand famously admonished us to “check our premises.” That’s a fancy way of saying that it pays to ask ourselves if we might be missing something—especially when confronted with a situation that makes no sense.

The nonsensical investment reality of the day is that signs of rising inflation are causing the price of gold—the world’s best inflation hedge for thousands of years—to fall.

I’ve explained why this is happening several times: nominal rates are rising in response to expectations of higher inflation faster than CPI. Anyone can look at their budget over the years and see that official CPI is bunk, but it’s the number policymakers, businesses, and most investors use. Continue reading “Article: Could I be missing something? 4+ bear potential cases against gold and silver”

Article: The Nonfungible Token

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The Nonfungible Token

Scott H. Kimpel, 06 April 2021

A recent Bloomberg article reported that average prices for nonfungible tokens, or NFTs, are down approximately 70 percent from recent highs. NFTs are the latest innovation in digital assets and encompass digital representations of unique works of art, music, or other goods and experiences stored on blockchain. Unlike other digital assets such as bitcoin, in which each bitcoin is the same as every other one (and thus “fungible”), each NFT is theoretically unique and different from every other one (and thus “nonfungible”). A wide range of NFTs have begun to enter the marketplace over the past several months. A digital work of art represented by an NFT recently sold at auction for over $69 million, and even a professional sports league has begun to issue NFTs. A fascinating debate about the social and economic utility of NFTs has emerged, but what are some of the legal issues associated with this new digital asset class? Continue reading “Article: The Nonfungible Token”

Article: INSIGHT: U.S. cryptocurrency regulatory path appears long and complex

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Todd Ehret, 06 April 2021

Bitcoin, other cryptocurrencies, and essentially all digital assets have surged in price recently amid surging interest by the public, investors of all types, and the financial industry. Despite a steadily growing acceptance and anticipation of a crypto-friendly regulatory environment under the new administration in Washington, the future regulatory framework for digital assets is complex and uncertain. Continue reading “Article: INSIGHT: U.S. cryptocurrency regulatory path appears long and complex”

Article: Deutsche Bank dodges bullets and goes mainstream

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Deutsche Bank dodges bullets and goes mainstream

PATRICK JENKINS , 06 April 2021

It is a striking paradox that postwar Germany has achieved sustained success as an economy, even with a flailing banking sector, headed by the flag-carrying Deutsche Bank, to underpin it. But there are signs the contradiction may be resolving.

Over the past three years, Deutsche has beaten its European rivals in share price terms — sketchy evidence, perhaps, especially as that share price has actually fallen and Deutsche has paid next to no dividends. But it is a notable outperformance nonetheless.
Continue reading “Article: Deutsche Bank dodges bullets and goes mainstream”

Article: Credit Suisse overhauls management as it takes $4.7 billion hit on Archegos

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Credit Suisse overhauls management as it takes $4.7 billion hit on Archegos

Brenna Hughes Neghaiwi, Matt Scuffham, 06 April 2021

ZURICH (Reuters) -Credit Suisse said on Tuesday it will take a 4.4 billion Swiss franc ($4.7 billion) hit from dealings with Archegos Capital Management, prompting it to overhaul the leadership of its investment bank and risk division.

The scandal-hit bank now expects to post a loss for the first quarter of around 900 million Swiss francs. It is also suspending its share buyback plans and cutting its dividend by two thirds. Continue reading “Article: Credit Suisse overhauls management as it takes $4.7 billion hit on Archegos”

Article: Crypto Lobby Forms to Shake Reputation as Criminals’ Currency

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Crypto Lobby Forms to Shake Reputation as Criminals’ Currency

Joe Light, 06 April 2021

Even as cryptocurrencies steadily gain support on Wall Street, they’re still regarded by regulators as a tool for criminals to conceal shady transactions — posing a challenge to the nascent industry as it seeks to win wider respect.

That’s creating a potentially lucrative opportunity for new groups in Washington advocating for digital currencies. Some prominent crypto lobbying organizations say they’ve increased their membership and raised millions of dollars to help improve the industry’s image. Continue reading “Article: Crypto Lobby Forms to Shake Reputation as Criminals’ Currency”

Article: BCH Price Analysis: Consolidation Range Targets Breakout Past $630

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BCH Price Analysis: Consolidation Range Targets Breakout Past $630

Tomiwabold Olajide, 06 April 2021

BCH Price rose over 10% on Monday, settling at $625 as at the time of writing. Bitcoin cash turned into a sideways consolidation in late February after hitting yearly highs at $773. While it’s recovering today, the barrier at $630 was strong and kept the BCH price confined below this level. Thus, it may be too early to call a breakout yet due to the weak upside momentum. Instead, the consolidation may likely extend further for a while. Currently, BCH is trading in the upper part of its consolidation range while targetting a breakout past the $630 barrier. Continue reading “Article: BCH Price Analysis: Consolidation Range Targets Breakout Past $630”

Article: Republicans Slam ‘Hypocritical’ Biden For Funneling $13 Million Through Tax Loopholes

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Republicans Slam ‘Hypocritical’ Biden For Funneling $13 Million Through Tax Loopholes

TYLER DURDEN, 05 April 2021

President Biden has come under fire by House Republicans for ‘hypocritically’ using an IRS loophole to avoid paying taxes on $13 million in income for tax years 2017 and 2018, while slamming wealthy Americans for using similar schemes to minimize their tax burden, according to Fox News.

In a scathing letter from the leader of a House conservative caucus Rep. Jim Banks (R-IN), the Bidens’ used two S-corporations, the CelticCapri Corporation and the Giacoppa Corporation, to funnel proceeds from book royalties and speaking appearances, “avoiding self-employment payroll tax liabilities that would have flowed to America’s Medicare program that provides care to over 60 million seniors.” Continue reading “Article: Republicans Slam ‘Hypocritical’ Biden For Funneling $13 Million Through Tax Loopholes”

Article: Stock Alert: Nano-X Imaging Shares Gains 36% On 510 (K) Clearance For Nanox.ARC

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Stock Alert: Nano-X Imaging Shares Gains 36% On 510 (K) Clearance For Nanox.ARC

RTTNews.com, 05 April 2021

(RTTNews) – Nano-X Imaging Ltd. (NNOX) shares are spiking on Monday morning trade as the medical imaging technology company’s single source Nanox.ARC digital x-ray technology received 510 (K) clearance from the FDA.

The Company expects to start system shipment in the fourth quarter of 2021 and the first quarter of 2022. Continue reading “Article: Stock Alert: Nano-X Imaging Shares Gains 36% On 510 (K) Clearance For Nanox.ARC”