SEC Accuses Binance , and CEO Changpeng Zhao , of "Blatant Disregard" For Federal Law.
NBC reports that the Securities and Exchange
Commission (SEC) has filed 13 charges against
the world's largest crypto exchange, Binance.
The charges also reportedly name the company's co-founder
Changpeng Zhao and alleges that billions of dollars in user
funds were sent to other companies controlled by Zhao.
The charges also reportedly name the company's co-founder
Changpeng Zhao and alleges that billions of dollars in user
funds were sent to other companies controlled by Zhao.
The SEC alleges that Zhao and Binance
worked to allow high-net-worth U.S. customers
to trade on an unregulated international exchange.
NBC reports the the SEC filing alleges that Binance.US
served as a shield for Zhao to "reveal, retard and resolve"
law enforcement targets and protect Binance.
NBC reports the the SEC filing alleges that Binance.US
served as a shield for Zhao to "reveal, retard and resolve"
law enforcement targets and protect Binance.
Between June 2018 and July 2021,
Binance earned $11.6 billion in revenue.
.
The SEC accuses Zhao of taking numerous steps to obscure
the identity of high-net-worth customers in the U.S.,
where federal law bars the unregistered sale of securities.
NBC reports that Binance and Zhao
have been accused of violating "critical"
provisions of federal security laws.
Those violations reportedly include self-dealing and
manipulating markets through two other Zhao-controlled
companies, Merit Peak Limited and Sigma Chain.
Through thirteen charges, we allege
that Zhao and Binance entities engaged
in an extensive web of deception,
conflicts of interest, lack of disclosure,
and calculated evasion of the law, Gary Gensler, SEC Chair, via NBC.
Through thirteen charges, we allege
that Zhao and Binance entities engaged
in an extensive web of deception,
conflicts of interest, lack of disclosure,
and calculated evasion of the law, Gary Gensler, SEC Chair, via NBC.
In response to news of the SEC's filing, Zhao tweeted, , “We will issue a response once we see the complaint.”.
Media gets the info before we do, Changpeng Zhao, Binance co-founder, via NBC
Elon Musk , Loses Appeal of , 'Twitter Sitter' Provision .
On April 29, the Supreme Court denied billionaire
Elon Musk's challenge to the terms of a Securities
and Exchange Commission agreement. .
On April 29, the Supreme Court denied billionaire
Elon Musk's challenge to the terms of a Securities
and Exchange Commission agreement. .
NBC reports that the SEC requirement
would require a lawyer to review
the Tesla CEO's social media posts. .
In his appeal, Musk argued that the SEC's requirement,
which has been dubbed the 'Twitter sitter' provision,
unlawfully imposed conditions on his freedom to comment. .
In his appeal, Musk argued that the SEC's requirement,
which has been dubbed the 'Twitter sitter' provision,
unlawfully imposed conditions on his freedom to comment. .
The SEC requirement stems from Musk's tweets in 2018 that
claimed he was taking Tesla private, which shocked the
market and caused shares in the company to surge.
The SEC requirement stems from Musk's tweets in 2018 that
claimed he was taking Tesla private, which shocked the
market and caused shares in the company to surge.
The SEC deemed the tweets
"materially false and misleading,"
and in clear violation of securities laws.
At the time, Musk agreed to settle the issue
with the SEC, which included his signing off
on the so-called "Twitter sitter" provision.
NBC reports that Musk has since said
the restrictions are unconstitutional and that
he was coerced into signing the SEC agreement.
According to court papers, lawyers
representing Musk have accused the SEC
of waging an "ongoing campaign" against Musk.
Musk's legal team claim the provision , "restricts Mr. Musk’s speech even
when truthful and accurate.".
It extends to speech not
covered by the securities laws
and with no relation to the conduct
underlying the SEC’s civil action, Elon Musk legal team, via NBC.
In response, the SEC said in court papers
that Musk waived his right to appeal
when he signed off on the settlement.
Credit: Wibbitz Top Stories Duration: 01:31Published
Trump’s Social Media Company , Sues Co-Founders.
Trump Media & Technology Group filed a
lawsuit against co-founders Wesley Moss and Andrew Litinsky on March 24, ABC News reports.
The suit came two days before shareholders approved a merger that allowed the
company to begin trading on the Nasdaq.
The lawsuit alleges that the two men
"failed spectacularly" to lead the company and made "reckless and wasteful decisions"
that resulted in "significant damage.".
Trump Media wants the co-founders to give up
their shares of the company, among other things. .
TMTG has been forced to file this action
to remedy the harm inflicted upon it by two
faithless fiduciaries and a company they own --
Wesley Moss, Andrew Litinsky, and
[United Atlantic Ventures] -- and to halt their
ongoing attempts to do even more damage, Via lawsuit.
Moss and Litinsky's company,
United Atlantic Ventures, owns 5.5%
of Trump Media, according to the SEC.
That amounts to 7,525,000 shares
which are worth about $388 million.
Donald Trump's stake in the company
is currently valued at over $4 billion.
Since going public last week,
the stock has been very volatile. .
At one time, shares peaked over $79.
On April 1, they plunged by 21%.
Shares recovered slightly on April 2
Credit: Wibbitz Top Stories Duration: 01:30Published
SEC Permitted to Sue Coinbase , for Offering Unregistered Securities.
U.S. District Judge Katherine Polk Failla
has ruled that the Securities and Exchange Commission's (SEC) lawsuit against Coinbase
can proceed, The Verge reports. .
The SEC has sufficiently pleaded
that Coinbase operates as an exchange,
as a broker, and as a clearing agency
under the federal securities laws, , U.S. District Judge Katherine Polk Failla, via ruling.
... and, through its Staking Program,
engages in the unregistered
offer and sale of securities, U.S. District Judge Katherine Polk Failla, via ruling.
The judge rejected arguments that existing laws are inadequate when it comes to crypto. .
The judge rejected arguments that existing laws are inadequate when it comes to crypto. .
The ‘crypto’ nomenclature may be
of recent vintage, but the challenged
transactions fall comfortably within the
framework that courts have used to identify
securities for nearly eighty years, U.S. District Judge Katherine Polk Failla, via ruling.
Coinbase chief legal officer Paul Grewal
took to X to respond to the ruling. .
Coinbase chief legal officer Paul Grewal
took to X to respond to the ruling. .
Early motions like ours
against a government agency
are almost always denied. , Paul Grewal, Coinbase chief legal officer, via X.
But clarity is the ultimate
goal and today’s decision
continues us on that path, Paul Grewal, Coinbase chief legal officer, via X.
Looking ahead, we remain confident
in our legal arguments, we look
forward to proving we’re right, , Paul Grewal, Coinbase chief legal officer, via X.
... we are eager for the opportunity to
take discovery from the SEC for the first
time, and we appreciate the Court’s
continued consideration of our case. , Paul Grewal, Coinbase chief legal officer, via X
Credit: Wibbitz Top Stories Duration: 01:31Published
New Analysis Suggests , Long-Term Effectiveness , for Wegovy Users .
NBC reports that patients taking
Novo Nordisk's obesity treatment maintain
an average of 10% weight loss over four years.
The news potentially boosts the
drugmaker's push for Wegovy to be
covered by insurers and governments. .
The company submitted long-term
findings at the European Congress
on Obesity in Venice, Italy. .
This is the longest study
we’ve conducted so far of
semaglutide for weight loss, Martin Holst Lange, Novo’s head of development, via NBC.
We see that once the majority
of the weight loss is accrued,
you don’t go back and start
to increase in weight
if you stay on the drug, Martin Holst Lange, Novo’s head of development, via NBC.
According to another analysis published by
the drugmaker, approximately 17% of trial participants stopped using the treatment
due to side effects like nausea. .
The costly treatment ranges from $200
to nearly $2,000 per month in the ten
countries where the drug is available.
NBC reports that Novo Nordisk was the
first drugmaker to market GLP-1 agonists,
originally developed as a diabetes treatment,
to address record high obesity rates.
NBC reports that Novo Nordisk was the
first drugmaker to market GLP-1 agonists,
originally developed as a diabetes treatment,
to address record high obesity rates.
Rival Eli Lilly launched its drug
Zepbound in the United States
in December of 2023. .
Neither drugmaker has managed
to produce enough of the
treatment to meet surging demand
Credit: Wibbitz Top Stories Duration: 01:31Published
Red Lobster Announces, Nearly 100 Locations , Will Be Shut Down.
NBC reports that approximately 99 Red Lobster locations
will be auctioned off as the seafood chain faces
questions regarding the company's long-term future.
Founder and CEO of the liquidation firm TAGeX Brands,
Neal Sherman, said he would lead the closure of over
50 locations in a May 13 LinkedIn post.
Sherman said equipment from the
locations will be auctioned off.
Locations will reportedly be closed across
the United States, including Denver,
Indianapolis, California and New York.
On May 14, Restaurant Business Magazine reported
a total of 99 locations would close, representing
about 15% of the company's 700 locations. .
NBC reports that the largest seafood
restaurant in the U.S. has struggled with debt,
unfavorable leases and executive turnover.
The chain's troubles also stem from ill-advised
strategies like an all-you-can-eat-shrimp promotion
in 2023 that resulted in a significant loss.
Earlier in 2024, the chain's largest investor,
Thai Union, announced that it would
seek to exit its position. .
The combination of Covid-19 pandemic,
sustained industry headwinds, higher
interest rates and rising material and
labor costs have impacted Red Lobster,
resulting in prolonged negative
financial contributions to
Thai Union and its shareholders, Thiraphong Chansiri, Thai Union Group’s CEO, via NBC.
After detailed analysis, we have
determined that Red Lobster’s
ongoing financial requirements
no longer align with our capital
allocation priorities and
therefore are pursuing an exit
of our minority investment, Thiraphong Chansiri, Thai Union Group’s CEO, via NBC
Credit: Wibbitz Top Stories Duration: 01:31Published
Snoop Dogg and Michael Bublé are the two newest superstars to join 'The Voice' as coaches. NBC announced during its upfront presentation that Snoop and Bublé will join the singing competition for its 26th season in the fall. Reba McEntire and Gwen Stefani will return to the show to fill the other two coaches' chairs.
Credit: The Hollywood Reporter Duration: 01:12Published
Some US Weapon , Shipments to Israel Continue , Amid Invasion of Rafah.
NBC reports that United States officials say that
shipments of military assistance have continued despite
concerns of Israel's invasion of Rafah in southern Gaza.
NBC reports that United States officials say that
shipments of military assistance have continued despite
concerns of Israel's invasion of Rafah in southern Gaza.
Officials familiar with the matter claim that
shipments of both offensive and defensive
weapons have been sent to Israel in recent days.
The news comes after the Biden administration threatened
to suspend arms shipment over Israel's plan to invade
Rafah, where over 1 million Palestinians have taken refuge.
The news comes after the Biden administration threatened
to suspend arms shipment over Israel's plan to invade
Rafah, where over 1 million Palestinians have taken refuge.
In response to the U.S. threat, Israeli Prime Minister
Benjamin Netanyahu vowed that his country would
"stand alone" in order to pursue its goal of eliminating Hamas.
In response to the U.S. threat, Israeli Prime Minister
Benjamin Netanyahu vowed that his country would
"stand alone" in order to pursue its goal of eliminating Hamas.
Last week, the Biden administration halted an arms
shipment of bombs that were intended for Israel. .
Last week, the Biden administration halted an arms
shipment of bombs that were intended for Israel. .
NBC reports that with no ceasefire between Hamas and Israel in sight, Israeli forces have continued its bombardment of Rafah amid ground operations. .
According to the United Nations, over 100,000 people have fled from eastern Rafah since Israel issued evacuation orders earlier this week. .
According to the United Nations, over 100,000 people have fled from eastern Rafah since Israel issued evacuation orders earlier this week. .
Aid groups, along with doctors and local officials, have expressed
growing concern that hospitals in Rafah have already been
overwhelmed ahead of a feared full-scale Israeli assault. .
For five days, no fuel and
virtually no humanitarian aid
entered the Gaza Strip,
and we are scraping
the bottom of the barrel, Hamish Young, UNICEF Senior Emergency
Coordinator in the Gaza Strip, via NBC.
According to local health officials, over 34,900 people
in Gaza have been killed since Israel launched its
assault following the October 7 Hamas attacks. .
According to local health officials, over 34,900 people
in Gaza have been killed since Israel launched its
assault following the October 7 Hamas attacks.
Credit: Wibbitz Top Stories Duration: 01:31Published
Massive Recall Follows , Discovery of Rat Parts, in Japanese Sliced Bread.
NBC reports that a brand of sliced bread in
Japan has been recalled after rat parts were
discovered in the popular product. .
NBC reports that a brand of sliced bread in
Japan has been recalled after rat parts were
discovered in the popular product. .
According to Pasco Shikishima Corp., 104,000 packs of
its super-fermented “chojuku” bread, produced at a
factory west of Tokyo, have been impacted by the recall. .
According to Pasco Shikishima Corp., 104,000 packs of
its super-fermented “chojuku” bread, produced at a
factory west of Tokyo, have been impacted by the recall. .
The company said that the line , “will be suspended for the time being to investigate
the cause and to strengthen countermeasures.”.
The company said that the line , “will be suspended for the time being to investigate
the cause and to strengthen countermeasures.”.
We deeply apologize for the serious inconvenience and trouble this has caused to our customers, suppliers, and other concerned parties, Pasco Shikishima Corp., via NBC.
The company added that there have been no
reports of customers falling ill as a result
of eating contaminated products.
NBC reports that the news comes amid
a string of food safety scares in Japan. .
In March, Kobayashi Pharmaceutical ordered
a recall of three dietary supplements containing
red yeast rice that had been linked to over
100 hospitalizations and five deaths. .
In 2023, police made multiple arrests linked
to a wave of pranks dubbed "sushi terrorism.".
The so-called acts of "sushi terrorism" involved diners at conveyor
belt restaurants engaging in unhygienic behavior like licking cups
before returning them or contaminating food with hand sanitizer. .
The so-called acts of "sushi terrorism" involved diners at conveyor
belt restaurants engaging in unhygienic behavior like licking cups
before returning them or contaminating food with hand sanitizer.
Credit: Wibbitz Top Stories Duration: 01:30Published
Breaking news: a dramatic shift in the role on the global cryptocurrency stage! The heroic pioneer of the crypto sphere, Changpeng Zhao, known as CZ, the founder and CEO of Binance, has turned to the..
![Binance executive detained in Nigeria amid crypto crackdown escapes custody [Video]](https://video.newsserve.net/300/v/20240326/1370844860-Binance-executive-detained-in-Nigeria-amid-crypto-crackdown.jpg)
![Elon Musk Loses Appeal of 'Twitter Sitter' Provision [Video]](https://video.newsserve.net/300/v/20240429/1374080272-Elon-Musk-Loses-Appeal-of-Twitter-Sitter-Provision.jpg)
![Trump’s Social Media Company Sues Co-Founders [Video]](https://video.newsserve.net/300/v/20240403/1371719374-Trump-Social-Media-Company-Sues-Co-Founders.jpg)
![SEC Permitted to Sue Coinbase for Offering Unregistered Securities [Video]](https://video.newsserve.net/300/v/20240328/1371225794-SEC-Permitted-to-Sue-Coinbase-for-Offering-Unregistered.jpg)
![New Analysis Suggests Long-Term Effectiveness for Wegovy Users [Video]](https://video.newsserve.net/300/v/20240514/1375493648-New-Analysis-Suggests-Long-Term-Effectiveness-for-Wegovy.jpg)
![Red Lobster Announces Nearly 100 Locations Will Be Shut Down [Video]](https://video.newsserve.net/300/v/20240514/1375487824-Red-Lobster-Announces-Nearly-100-Locations-Will-Be.jpg)
!['The Voice' Season 26 Adds Michael Bublé & Snoop Dogg as Coaches | THR News Video [Video]](https://video.newsserve.net/300/v/20240513/1375414378-The-Voice-Season-26-Adds-Michael-Bublé.jpg)
![Some US Weapon Shipments to Israel Continue Amid Invasion of Rafah [Video]](https://video.newsserve.net/300/v/20240510/1375186170-Some-US-Weapon-Shipments-to-Israel-Continue-Amid.jpg)
![Massive Recall Follows Discovery of Rat Parts in Japanese Sliced Bread [Video]](https://video.newsserve.net/300/v/20240509/1375100980-Massive-Recall-Follows-Discovery-of-Rat-Parts-in.jpg)
![Real fake news - CZ the evil genius of crypto community [Video]](https://video.newsserve.net/300/v/20230613/1686685891-Real-fake-news-CZ-the-evil-genius.jpg)
