BITCOIN

A lawyer has explained why the U.S. Securities and Exchange Commission (SEC) will likely lose if the regulator takes crypto exchange Coinbase to court over alleged securities law violations. “The problem is entirely of Gary Gensler’s own making,” he stressed. Lawyer Expects SEC to Lose Against Coinbase in Court Lawyer James Murphy explained in a series of tweets Wednesday why he believes the U.S. Securities and Exchange Commission (SEC) will lose if it takes Coinbase to court. Murphy started law firm Murphy & McGonigle in 2010 to represent clients in the securities and banking industries. The firm pivoted in 2017 toward representing emerging companies that leverage blockchain technology. Referencing a Wells Notice , a formal communication that typically precedes a lawsuit, that the securities regulator sent the Nasdaq-listed cryptocurrency exchange in March, the lawyer opined: If the SEC follows through on its threat to sue Coinbase, I believe the SEC will lose. The SEC’s cas...

Billionaire Bill Ackman has warned that “We are running out of time” to fix the problem that led to the collapses of regional banks. “How many more unnecessary bank failures do we need to watch before the FDIC, U.S. Treasury, and our government wake up?” he stressed, adding that “We need a systemwide deposit guarantee regime now.” Ackman Calls for Urgent Action as Time Runs Out to Prevent More Bank Failures Billionaire Bill Ackman, CEO and portfolio manager of Pershing Square Capital Management, has warned that time is running out for the U.S. government to fix the banking system. He tweeted Wednesday: The regional banking system is at risk … The rapid rise in rates impaired assets and drained deposits. Ackman explained that the “failure” of the Federal Deposit Insurance Corporation (FDIC) “to update and expand its insurance regime has hammered more nails in the coffin.” He stressed that First Republic Bank “would not have failed if the FDIC temporarily guaranteed deposits while...