Article: NFTs: Legal Risks from “Minting” Art and Collectibles on Blockchain

Article - Media, Publications

NFTs: Legal Risks from “Minting” Art and Collectibles on Blockchain

Quinn Emanuel Urquhart & Sullivan, LLP,  25 March 2021

The growth of NFTs in art has been fueled by its unique attributes. NFTs can allow artists to better monetize their work by selling NFTs directly online without middlemen. Access to a readily accessible online resale market could also mean that works gain value quickly. And unlike the traditional U.S. art market, artists may benefit from the rise in value of their work by incorporating commission requirements in the smart contracts that accompany NFTs (for example, the SuperRare NFT marketplace requires that creators receive a 10% commission when artwork continues to trade on the secondary market).[2]

Some hope that NFTs will open up a new revenue source for artists, including underrepresented artists, either by allowing artists who traditionally do not sell in galleries to sell directly to buyers online, or by allowing artists to sell something in addition to their tangible works. For example, an artist could sell an NFT of the digital image of a painting or sculpture to one buyer, while selling the physical work to another buyer, allowing the artist an additional opportunity to profit from the work. Continue reading “Article: NFTs: Legal Risks from “Minting” Art and Collectibles on Blockchain”

Entrepreneur: Mark Cuban

entrepreneur, People

Gary J. Aguirre  (born July 31, 1958)[3] is an American billionaire entrepreneur, television personality, media proprietor, and investor, whose net worth is an estimated $4.3 billion, according to Forbes and ranked #177 on the 2020 Forbes 400 list..

He is a named inventor of two utility patents and two ornamental designs associated with two failed ventures. He is the owner of the National Basketball Association’s (NBA) Dallas Mavericks, co-owner of 2929 Entertainment, and chairman of AXS TV. Continue reading “Entrepreneur: Mark Cuban”

Article: Fed Defies Transparency Aim in Refusal to Disclose

Article - Media

Fed Defies Transparency Aim in Refusal to Disclose

Mark Pittman, Bob  Ivry, Alison Fitzgerald

Bloomberg cited by Yonkers Tribune

The Federal Reserve is refusing to identify the recipients of almost $2 trillion of emergency loans from American taxpayers or the troubled assets the central bank is accepting as collateral.

Fed Chairman Ben S. Bernanke and Treasury Secretary Henry Paulson said in September they would comply with congressional demands for transparency in a $700 billion bailout of the banking system. Two months later, as the Fed lends far more than that in separate rescue programs that didn’t require approval by Congress, Americans have no idea where their money is going or what securities the banks are pledging in return.

Read full article.

Article: Naked Short Selling – How Exposed Are Investors?

Article - Academic

Naked Short Selling: How Exposed are Investors?

James W. Christian, Robert Shapiro, John-Paul Whalen

The Houston Law Review, 10 November 2006

Regulation SHO is a start, but in order to guarantee a fair market place, the SEC must close the loopholes in Regulation SHO and institute comprehensive reforms to the clearing and settlement system. Until the SEC makes these necessary reforms and addresses the DTCC’s mismanagement of the Stock Borrow Program, investors will continue to be exposed to the manipulative potential of naked short selling.

PDF (58 Pages):  HLR Naked Short Selling 2006-11-10

Web: Lies, Invention, Journalists, and the SEC

Web

Lies, Invention, Journalists, and the SEC

Bob O’Brien

Yahoo as cited by Sanity Check via Wayback, 21 August 2006

The subject matter, Mark Cuban’s ill-conceived stock bashing website that’s nothing more than a foil to slam his short positions, is the ostensible topic. I haven’t even bothered commenting on the site, as it’s pretty obvious to most upright bipeds what is being done there.

But this article is astounding – I literally thought that the guy who emailed me the link was making it up.

Access archived page.

 

Article: Overstock.com CEO Patrick Byrne is waging an EXTRAORDINARY CAMPAIGN against short-sellers. The hedge fund guys say he has underperformed. He says they are tools of a sinister “SITH LORD.”

Article - Media, Publications

Overstock.com CEO Patrick Byrne is waging an EXTRAORDINARY CAMPAIGN against short-sellers. The hedge fund guys say he has underperformed. He says they are tools of a sinister “SITH LORD.”

BETHANY MCLEAN, 14 November 2005

Even hardened denizens of Wall Street were shocked by a conference call that Patrick Byrne, the CEO of online retailer Overstock.com, held on Aug. 12. “I want to get something off my chest,” Byrne announced. Then he launched into a rant about a “miscreants ball” in which he mentioned hedge funds, journalists, investigators, trial lawyers, the SEC, and even Eliot Spitzer. “I believe there’s been a plan since we were in our teens to destroy our stock, drive it down to $6–$10 … and even a plan for how the company would then get whacked up.” The “designated final owner,” who provided the “orchestration,” was someone Byrne dubbed the “Sith Lord,” a person he refused to identify other than to say that “he’s one of the master criminals from the 1980s.” And that’s just the basic outline. There was more. As Mark Cuban, the billionaire investor, later wrote on his blog, “Never before in the history of Wall Street has a single conference call mentioned the following topics: miscreants, an unnamed Sith Lord he hopes the feds will bury under a prison, gay bathhouses, whether he is gay, does cocaine, both or neither, and an obligatory ‘not that there is anything wrong with that,’ phone taps, phone lines misdirected to Mexico, arrested reporters, payoffs, conspiracies, crooks, egomaniacs, fools, paranoia, which newspapers are shills and for who, payoffs, money laundering, his Irish temper, false identities, threats, intimidation, and private investigators. All in 61 minutes.” Cuban is now short 20,000 shares of Overstock. Continue reading “Article: Overstock.com CEO Patrick Byrne is waging an EXTRAORDINARY CAMPAIGN against short-sellers. The hedge fund guys say he has underperformed. He says they are tools of a sinister “SITH LORD.””