BITCOIN

Online broker Robinhood is going to buy back the stake purchased by a company of crypto exchange FTX founder Sam Bankman-Fried (SBF). The fintech intends to pay $605.7 million for the shares that were transferred to the custody of the U.S. government after the bankruptcy of SBF’s businesses. Robinhood to Proceed With Planned Buyback of Shares From USMS Online stock and crypto brokerage Robinhood Markets announced on Friday it had entered into a stock repurchase agreement with the United States Marshals Service (USMS) for shares acquired by crypto entrepreneur Sam Bankman-Fried’s Emergent Fidelity Technologies. The stock was seized after FTX and Emergent filed for bankruptcy in 2022 and later transferred to the custody of the U.S. government, Reuters noted in a report. The collapse of the exchange, one of the largest in the crypto space, led to the arrest and indictment of SBF, whose trial on fraud and conspiracy charges is set to begin in October. The Menlo Park, California-headqu

U.S. Securities and Exchange Commission’s former chairman Jay Clayton has explained why he believes the approval of a spot bitcoin exchange-traded fund (ETF) is inevitable. “It is clear that bitcoin is something that retail investors want access to, institutional investors want access to,” he stressed. Former SEC Chief Says Approval of Spot Bitcoin ETFs Inevitable Former U.S. Securities and Exchange Commission (SEC) Chair Jay Clayton offered his perspectives on the likelihood of the securities regulator approving a spot bitcoin exchange-traded fund (ETF) in an interview with CNBC on Friday. The interview followed the SEC delaying its decisions on several bitcoin ETF applications, including one proposed by Blackrock, the world’s largest asset manager. Without stating whether he would approve a spot Bitcoin ETF if he were still the chairman of the SEC, Clayton detailed: It is clear that bitcoin is not a security. It is clear that bitcoin is something that retail investors want acc

U.S. presidential candidate Robert F. Kennedy Jr. (RFK Jr.) has explained that China does not want a war with the U.S. However, he warned that China wants to “bury” the U.S. economically. “I’m not afraid of the United States competing with China head to head and countries around the world. I think that’s good for us. I think we win that competition,” the presidential hopeful stated. RFK Jr on China and BRICS Competing With US U.S. presidential candidate Robert F. Kennedy Jr. (RFK Jr.) shared his views on several topics in an interview with CNBC on Wednesday. RFK Jr. is a son of former U.S. Attorney General and Senator Robert F. Kennedy and nephew of former U.S. President John F. Kennedy. Among the topics RFK Jr. delved into were China’s global influence and the expansion of the BRICS alliance, which currently consists of Brazil, Russia, India, China, and South Africa. The group recently held its annual summit and invited six countries to join as new members. The BRICS economic blo