Robinhood Receives SEC Subpoena , for Its Crypto Business.
MarketWatch reports that the subpoena
was revealed in a filing on Feb. 27.
Robinhood received the subpoena from securities regulators in December after FTX and other crypto-trading companies filed for bankruptcy.
Robinhood received the subpoena from securities regulators in December after FTX and other crypto-trading companies filed for bankruptcy.
The SEC wants to investigate Robinhood Crypto LLC's “cryptocurrency listings, custody of cryptocurrencies and platform operations,” among other things.
The SEC wants to investigate Robinhood Crypto LLC's “cryptocurrency listings, custody of cryptocurrencies and platform operations,” among other things.
MarketWatch reports that if it is
determined that any cryptocurrencies
on the trading platform are securities, .
it could stop Robinhood “from continuing to facilitate
trading of those cryptocurrencies (including ceasing
support for such cryptocurrencies on our platform).”.
Robinhood's board recently authorized the
company to repurchase over 50 million shares that
were previously bought by FTX founder
Sam Bankman-Fried and seized by the DOJ.
Robinhood's board recently authorized the
company to repurchase over 50 million shares that
were previously bought by FTX founder
Sam Bankman-Fried and seized by the DOJ.
Robinhood reports that it ended 2022 with $2.91 billion available in credit and $6.3 billion in cash and cash equivalents. .
MarketWatch reports that Robinhood
shares dropped 0.6% on Feb. 27.
Over the past year, the company's
shares have dropped 16.3%
Credit: Wibbitz Top Stories Duration: 01:31Published
FTX Asks for Its Political Donations , to Be Returned.
Insider reports that the bankrupt crypto exchange made the request on Feb. 5.
Any politicians or political action committees who received donations made by FTX founder Sam Bankman-Fried,
FTX executives or other related companies...
... are being asked to
return donations by Feb. 28.
If payments aren't returned by then,
donation recipients may be called to bankruptcy court with added interest.
According to 'The New York Times,' politicians received $90 million from FTX employees.
Bankman-Fried, former CEO of FTX Bahamas headquarters Ryan Salame and FTX's former director of engineering, Nishad Singh, .
respectively donated $40 million, $23 million and $7.9 million to Democratic causes.
Nancy Pelosi and John Fetterman are among the high-profile politicians who received donations.
Nancy Pelosi and John Fetterman are among the high-profile politicians who received donations.
According to CoinDesk, as of mid-January, neither of them had returned the funds.
According to CoinDesk, as of mid-January, neither of them had returned the funds.
Only five out of 196 politicians had reportedly complied with FTX's request at that time
Credit: Wibbitz Top Stories Duration: 01:30Published
The Oscars Will Not Have a Red Carpet , for the First Time Since 1961.
ABC News reports that the Academy Awards have had a red carpet for over six decades.
But this year, the Oscars will put out a champagne-colored carpet for stars to walk down.
But this year, the Oscars will put out a champagne-colored carpet for stars to walk down.
'Vogue' contributor Lisa Love and Met Gala creative director Raúl Àvila are the ones who implemented the change.
'Vogue' contributor Lisa Love and Met Gala creative director Raúl Àvila are the ones who implemented the change.
Jimmy Kimmel, host of the 95th Oscars, commented on the new carpet color.
I think the decision to go with a champagne carpet over a red carpet shows how confident we are that no blood will be shed, Jimmy Kimmel, via statement.
ABC News reports that the carpet will be covered to not only protect from weather, but to also portray the elegance of an evening event.
ABC News reports that the carpet will be covered to not only protect from weather, but to also portray the elegance of an evening event.
We turned a day event into night. It’s evening, even though it’s still 3:00, Lisa Love, creative consultant, to Associated Press.
Originally, Love and Àvila chose a different color, but it didn't get everyone's approval,
so they went with the champagne color.
We chose this beautiful sienna, saffron color that evokes the sunset, because this is the sunset before the golden hour. , Lisa Love, creative consultant, to Associated Press.
Somebody’s always got a way to find something wrong with something.
This is just a lightness and hopefully people like it. It doesn’t mean
that it’s always going to be a
champagne-colored carpet, Lisa Love, creative consultant, to Associated Press.
Somebody’s always got a way to find something wrong with something.
This is just a lightness and hopefully people like it. It doesn’t mean
that it’s always going to be a
champagne-colored carpet, Lisa Love, creative consultant, to Associated Press.
The Academy Awards' "red carpet" event starts at 3:30 p.m. ET on March 12.
The Academy Awards' "red carpet" event starts at 3:30 p.m. ET on March 12.
The show begins at 8 p.m. ET
Credit: Wibbitz Top Stories Duration: 01:30Published
2 More Eyedrop Brands , Have Been Recalled.
ABC News reports that the FDA has posted recall notices for eyedrops distributed by Pharmedica and Apotex.
ABC News reports that the FDA has posted recall notices for eyedrops distributed by Pharmedica and Apotex.
Pharmedica said it is recalling
Purely Soothing 15% MSM Drops for issues
"that could result in blindness.".
The OTC eyedrops are intended
to soothe eye irritation.
That recall affects
approximately 2,900 bottles.
Apotex recalled Brimonidine Tartrate Ophthalmic Solution 0.15%.
The eyedrops treat a form of glaucoma.
No injuries have been reported, but the recall was issued after cracks were found in several caps.
The two recalls come after
EzriCare Artificial Tears were recalled last month.
In that instance, five people suffered permanent vision loss and one person died
Credit: Wibbitz Top Stories Duration: 01:30Published
Ford , Boosts Production Amid , Auto Industry Rebound.
ABC News reports that Ford plans to increase production on six of its cars in 2023 amid an auto
industry rebound from sluggish 2022 sales.
On March 3, the automaker announced
that half of those production increases
are for Ford's electric vehicles. .
Traditional models to see increased
production include the Mustang Mach-E,
Bronco Sport SUV and Maverick small pickup. .
Electric models include the F-150 Lightning electric
pickup and both the gas and electric versions
of the Transit and E-Transit full-size vans.
Electric models include the F-150 Lightning electric
pickup and both the gas and electric versions
of the Transit and E-Transit full-size vans.
Last year, Ford announced that it would add
a third shift and 1,100 jobs to its plant in
Claycomo, Missouri, outside of Kansas City.
In Dearborn, Michigan, Ford added
another 3,200 jobs related to
manufacturing the F-150 Lightning. .
According to spokesman Said Deep, Ford will also add
an unspecified number of jobs to increase production
of the Mach-E in Cuautitlan and Hermosillo, Mexico.
ABC reports that the auto industry has seen low sales
for over two years, largely caused by
a computer chip shortage amid the COVID pandemic.
As the chip shortage begins to ease,
automakers like Ford are beginning to step up
production and bolster supplies in dealer lots.
The industry is
on its track back, Jeff Schuster, executive vice president of
automotive for LMC and Global Data, via ABC
Credit: Wibbitz Top Stories Duration: 01:30Published
Starbucks Vanilla Frappuccino , Bottles Recalled.
Starbucks Vanilla Frappuccino , Bottles Recalled.
ABC News reports that over
25,000 cases of the beverage have been recalled for possibly containing glass.
A representative for PepsiCo, which sells the drinks, issued a statement on behalf of the North American Coffee Partnership.
The impacted products have best buy dates of March 8, 2023; May 29, 2023; June 4, 2023; and June 10, 2023 and were distributed across the United States, PepsiCo representative, via statement.
The removal of these products from the marketplace is currently underway. The products are not sold at Starbucks retail locations, PepsiCo representative, via statement.
While the PepsiCo representative did not divulge why the product was being recalled.
the FDA confirmed it was because of
"foreign objects (glass)" in the bottles.
The PepsiCo representative went on
to talk about the company's commitment
to a quality consumer experience.
The North American Coffee Partnership is committed to a high level of quality in the products we serve. , PepsiCo representative, via statement.
Delivering a quality experience to our consumers is our top priority and we always act with an abundance of caution whenever a potential concern is raised, PepsiCo representative, via statement.
If a consumer has purchased a product and has questions or concerns, they can call Consumer Relations at 1-800-211-8307, PepsiCo representative, via statement
Credit: Wibbitz Top Stories Duration: 01:30Published
Ford Halts Production of Electric F-150 , After Battery Fire.
Ford Halts Production of Electric F-150 , After Battery Fire.
ABC News reports that production and shipments of the F-150 Lightning at the Rouge Electric Vehicle Center in Dearborn, MI, have been suspended for at least a week.
ABC News reports that production and shipments of the F-150 Lightning at the Rouge Electric Vehicle Center in Dearborn, MI, have been suspended for at least a week.
The suspension is the result of a battery catching fire during a routine quality check.
By the end of next week, we expect to conclude our investigation and apply what we learn to the truck's
battery production processes.
This could take a few weeks, Emma Bergg, Ford spokesperson, via statement.
In a statement on Feb. 15, Ford said F-150s already in use by customers are not likely affected by the issue.
In a statement on Feb. 15, Ford said F-150s already in use by customers are not likely affected by the issue.
The batteries are currently supplied
by Korean company SK Innovation.
But it was recently announced that Ford will partner with Chinese company CATL to build an EV battery plant in Marshall, Michigan. .
Manufacturing these new batteries in America will help us build more EVs faster and will ultimately make them more affordable for our customers, Bill Ford, executive chair of Ford Motor Company, via statement.
ABC News reports that Ford sold over
15,000 electric F-150s last year.
ABC News reports that Ford sold over
15,000 electric F-150s last year.
The company says it currently has a backlog of about 200,000 F-150 Lightning reservations.
The company says it currently has a backlog of about 200,000 F-150 Lightning reservations.
The current production suspension
will set the company back
when it comes to fulfilling those orders.
The current production suspension
will set the company back
when it comes to fulfilling those orders
Credit: Wibbitz Top Stories Duration: 01:30Published
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Ne-Yo, Akon, Lil Yachty and Austin Mahone were also charged by the Securities and Exchange Commission in the case, which is tied to promotion of crypto tokens created by Justin Sun.
Credit: The Hollywood Reporter Duration: 01:24Published
The Securities and Exchange Commission is cracking down on Crypto companies ... and some big-name celebs -- including Jake Paul, Lindsay Lohan and Soulja Boy --.. TMZ.com
DOJ and SEC Launch Investigations , Into SVB Collapse.
Last week, the California Department of Financial Protection and Innovation shut down Silicon Valley Bank (SVB) and made the FDIC its receiver.
Last week, the California Department of Financial Protection and Innovation shut down Silicon Valley Bank (SVB) and made the FDIC its receiver.
NBC News reports that on March 14,
the U.S. Justice Department opened an investigation into the bank's demise.
According to two sources with knowledge of the matter, part of the DOJ's probe will seek to determine whether bank executives unloaded any stock ahead of the collapse.
The Securities and Exchange Commission (SEC) has launched a separate investigation. .
According to the FDIC, SVB's collapse marked the second-biggest on record after Washington Mutual.
According to the FDIC, SVB's collapse marked the second-biggest on record after Washington Mutual.
NBC News reports that on March 12, the FDIC, Federal Reserve and Treasury Department said SVB deposits would be backed in excess of the federally-insured cap of $250,000.
The fall of SVB prompted Signature Bank customers to withdraw over $10 billion in deposits out of fear on March 10, ultimately leading to the bank's collapse as well.
The fall of SVB prompted Signature Bank customers to withdraw over $10 billion in deposits out of fear on March 10, ultimately leading to the bank's collapse as well.
President Biden attempted to
reassure the public that America's
banking system is safe on March 13.
Thanks to the quick action of my administration over the past few days, Americans can have confidence that
the banking system is safe. , President Joe Biden, via statement.
Your deposits will be there
when you need them, President Joe Biden, via statement
Credit: Wibbitz Top Stories Duration: 01:31Published
Dell to Lay Off , 6,650 Workers.
CNBC reports that Dell made the announcement on Feb. 6 in an SEC filing. .
About 6,650 employees, 5% of the
company's workforce, will be let go.
Jeff Clarke, co-chief operating
officer at Dell, said the layoffs were necessary
to "stay ahead of downturn impacts.".
Unfortunately, with changes like this, some members of our team will be leaving the company. , Jeff Clarke, co-chief operating officer at Dell,
via memo to employees.
There is no tougher decision, but one we had to make for our long-term health and success, Jeff Clarke, co-chief operating officer at Dell,
via memo to employees.
We will be ready when
the market rebounds, Jeff Clarke, co-chief operating officer at Dell,
via memo to employees.
Layoffs in the tech industry have become
an overwhelming trend as of late. .
Salesforce, Microsoft, Google.
Salesforce, Microsoft, Google.
Salesforce, Microsoft, Google.
Paypal, Amazon, IBM.
Paypal, Amazon, IBM.
Paypal, Amazon, IBM.
Meta and Twitter have laid off
thousands of employees.
Meta and Twitter have laid off
thousands of employees.
According to website Layoffs.fyi,
67,000 job cuts have been announced by
tech companies so far in 2023
Credit: Wibbitz Top Stories Duration: 01:30Published
FTX founder and accused crypto-crook Sam Bankman-Fried met with senior White House officials on at least four occasions in the months leading up to his firm’s massive implosion, Bloomberg reports.
Sam Bankman-Fried—a.k.a. SBF, the founder and CEO of the now-defunct crypto exchange FTX—earned trust by winning the approval of elite institutions. Then he allegedly siphoned about $10 billion of..
Mark Yusko, CEO, Founder, and Chief Investment Officer of Morgan Creek Capital Management joined Michelle Makori, Lead Anchor and Editor-in-Chief at Kitco News, to discuss the FTX collapse, whether Sam..
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