World Bank to assess damage after Ukraine dam destruction
WASHINGTON, June 7 (Reuters) - The World Bank will support Ukraine by conducting a rapid assessment of damage and needs...
archiveAMERS
Coinbase CEO hits back at SEC chair after lawsuit, says user funds are safe
Brian Armstrong, CEO and Co-Founder of Coinbase, speaks at the 2022 Milken Institute Global Conference in Beverly Hills, California, U.S., May 2, 2022. REUTERS/David SwansonJune 7 (Reuters) - Coinbase (COIN.O) Chief Executive Brian Armstrong on Wednesday hit back at U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler over the agency's lawsuit against the crypto exchange, calling him an "outlier," while also reassuring customers that their funds were safe.The SEC on Tuesday alleged Coinbase traded at least 13 crypto assets that are securities that should have been registered, including tokens...
Bank failures, ‘hard landing’ still top-of-mind for hedge funds
NEW YORK, June 7 (Reuters) - Big U.S. hedge fund and family office investors on Wednesday cautioned that despite the U.S. economy showing resilience, a recession and more bank failures remained likely in an environment of persistent inflation.U.S. investor Stanley Druckenmiller, chairman and chief executive officer at Duquesne Family Office, said he still expected a hard landing for the U.S. economy - a scenario where the Federal Reserve's rate-hiking pushes the economy into a recession."I think the probabilities would suggest that Silicon Valley Bank, Bed Bath & Beyond, they're probably...
Shares recoil from 13-mth high, Turkey’s lira hits record low
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., May 10, 2023....
S&P 500, Nasdaq close lower as traders cash in on latest megacap rally
Netflix gains after Wells Fargo PT raiseCoinbase rebounds day after hitting seven-month lowIndexes:June 7 (Reuters) - The S&P 500 and...
What makes a crypto asset a security in the U.S.?
June 7 (Reuters) - Determining whether digital tokens are securities will be central to the high-stakes case brought by U.S. regulators alleging crypto platforms Coinbase (COIN.O) and Binance violated the law by failing to register as a securities exchange, broker and clearing agency.WHAT IS THE SEC ALLEGING?The Securities and Exchange Commission (SEC) sued Coinbase on Tuesday in Manhattan federal court and accused the largest U.S. cryptocurrency platform of operating illegally by evading disclosure requirements.The SEC said Coinbase allowed users to trade at least 13 crypto assets that should have been...
US trade deficit widens to 6-month high, expected to dent economic growth
Trade deficit increases 23.0% in AprilGoods imports rise 2.0%; exports tumble 5.3%WASHINGTON, June 7 (Reuters) - The U.S. trade deficit...
UK’s Sunak seeks stronger economic ties with U.S. on Washington trip
LONDON, June 6 (Reuters) - Britain wants to put its economic ties with the United States on the same footing...
Dollar shaky as traders ponder Fed, global monetary policy outlooks
SINGAPORE, June 7 (Reuters) - The dollar wobbled on Wednesday as expectations of a rate hike by the Federal Reserve...
US steps up crackdown on crypto with lawsuits against Coinbase, Binance
NEW YORK, June 6 (Reuters) - The top U.S. securities regulator sued cryptocurrency platform Coinbase on Tuesday, the second lawsuit in two days against a major crypto exchange, in a dramatic escalation of a crackdown on the industry and one that could dramatically transform a market that has largely operated outside regulation.The U.S. Securities and Exchange Commission on Monday took aim at Binance, the world's largest cryptocurrency exchange. The SEC accuses Binance and its CEO Changpeng Zhao of operating a "web of deception".If successful, the lawsuits could transform the crypto...