Monthly Archives: March 2023
Crypto Entrepreneur Justin Sun and his Companies charged with Fraud and Securities Law Violations
(HedgeCo.Net) Eight celebrities also charged for illegal touting of Sun’s crypto asset securities. The Securities and Exchange Commission today announced charges against crypto asset entrepreneur Justin Sun and three of his wholly-owned companies, Tron Foundation Limited, BitTorrent Foundation Ltd., and […]
Coinbase warned by SEC of potential securities charges
(CNBC) The Securities and Exchange Commission issued crypto exchange Coinbase a Wells notice, warning the company that it identified potential violations of U.S. securities law. Coinbase shares fell nearly 12% in extended trading after the news broke on Wednesday, adding […]
Bitcoin at $100,000? Insiders say the cryptocurrency could test new highs this year
(CNBC) Bitcoin has rallied nearly 70% so far this year — and industry insiders who spoke to CNBC remain bullish, with one saying the world’s biggest cryptocurrency could reach new heights. Bitcoin previously hit its all-time high of $68,990.90 in […]
Wells Fargo lists financial instability as biggest economic risk post-Fed decision
(CNBC) A major Wall Street firm is ranking financial instability over inflation as the biggest economic risk for the next three months. In an interview following the Federal Reserve’s quarter point interest rate hike, Wells Fargo Securities’ Michael Schumacher suggested […]
Cut-price bank AT1s attracting hedge fund interest
(Hedgeweek) Bank additional tier-1 (AT1) bonds, including those of Credit Suisse, are attracting the attention of large hedge funds and distressed debt investors, who are buying them up at discount prices, according to a report by Reuters. To read this […]
Emerging markets hedge funds extend Q4 2022 gains in January
(HedgeWeek) Emerging markets hedge funds surged in January, extending Q4 gains driven by rising US rates and continuing generational inflation, according to the HFRI 500 Emerging Markets Index, which jumped +4.9% over the month with gains seen across equity hedge […]
SEC Obtains Final Judgment Against Former CFO Charged with Fraud and Lying to Auditors
(HedgeCo.Net) The U.S. District Court for the District of Maryland entered a final consent judgment against Philip R. Jacoby, a former Chief Financial Officer of biotech company Osiris Therapeutics, Inc., for his role in Osiris’s fraudulent conduct. The SEC’s complaint, […]
Credit Suisse AT1 bondholders may take legal action, say lawyers
(Hedgeweek) A number of Credit Suisse Additional Tier 1 (AT1) bond holders, who saw their investments written off completely under the terms of rival UBS’ rescue of the stricken bank, are talking to lawyers about possible legal action, according to […]
Stock futures are flat as investors await key Fed policy decision:
(CNBC) Stock futures were little changed Tuesday evening as investors braced for the Federal Reserve’s next move in its inflation-fighting rate hiking plan. Futures tied to the Dow Jones Industrial Average lost 9 points, or 0.03%. S&P 500 futures added […]
The Fed is likely to hike rates by a quarter point but it must also reassure it can contain a banking crisis
(CNBC) The Federal Reserve is expected to raise interest rates Wednesday by a quarter point, but it also faces the tough task of reassuring markets it can stem a worse banking crisis. Economists mostly expect the Fed will increase its […]
Banking crisis to have limited impact on commodities, says Citadel
(Hedgeweek) While US hedge fund Citadel is expecting a tighter credit environment following the latest banking crisis, the firm’s head of commodities, Sebastian Barrack, is predicting limited impact on global commodities, according to a report by Reuters. To read this […]
SEC Obtains Judgments and Bar Against Former Ozy Media Executives Charged in $50 Million Dollar Fraud
(HedgeCo.Net) The U.S. District Court for the Eastern District of New York has entered judgments by consent against the former COO of Ozy Media, Inc., Samir Rao, and its former Chief of Staff, Suzee Han, for their roles in defrauding […]