The SEC Took Notice of FTX’s Use of $200 Million in Client Funds for Two Venture Deals 

According to the Securities and Exchange Commission, which accused founder Sam Bankman-Fried of “orchestrating a scheme to defraud equity investors,” of the billions in deposit accounts that vanished from FTX in an instant, $200 million has been used to fund investments in two companies.   The cryptocurrency corporation acquired $100 million in Dave through its FTXContinue reading “The SEC Took Notice of FTX’s Use of $200 Million in Client Funds for Two Venture Deals “

Why Is Compliance Risk Analysis Important and What Does It Entail? 

What Exactly Are Compliance Risks?   The attempt to develop law-abiding conduct is known as compliance. This comprises adhering to ethical and moral standards, such as those outlined for illustration in the organization’s Code of Conduct, as well as “traditional” compliance with relevant national and international laws and regulations. When a company faces the possibility ofContinue reading “Why Is Compliance Risk Analysis Important and What Does It Entail? “

A Rise in Jobless Claims to 230,000 as the Economy Slows

Original statements for the week ending December 3rd increased to 230,000 from the increase of approximately 226,000 recorded the week before, according to data released by the Labor Department. This is more than the 218,000 average pre-pandemic claims for 2019 in this year. For the week ending Nov. 26, the number of Americans filing ongoing claims—thoseContinue reading “A Rise in Jobless Claims to 230,000 as the Economy Slows”

Congressman Demands Probe into Gensler, SEC’s Role in FTX Collapse

An independent probe into the Security and Exchange Commission’s inability to prevent the unprecedented fall of the cryptocurrency exchange FTX is being demanded by a Democratic congressman. Representative Ritchie Torres (D-NY) urged the Government Accountability Office (GAO) to launch an impartial investigation into the SEC’s actions—or lack thereof—in the months preceding FTX’s collapse last monthContinue reading “Congressman Demands Probe into Gensler, SEC’s Role in FTX Collapse”

SEC Publishes New Guidance Mandating That Firms Report Cryptocurrency Risk

In new guidelines that have been published, the Securities and Exchange Commission mandates that businesses that offer securities report to investors their potential exposure to hazards in the cryptocurrency market. The advice was released approximately a month after FTX, one of the biggest cryptocurrency exchanges in the world, declared bankruptcy after lending customer assets to aContinue reading “SEC Publishes New Guidance Mandating That Firms Report Cryptocurrency Risk”

Us Dollar Increases as Another Significant Rate Hike by the Fed Is Expected, Pound Declines

The prospect of yet another exorbitant rate hike during this week’s Federal Reserve meeting on monetary policy helped the dollar rise on Monday, recovering a portion of the sheen it had exhibited earlier in the month. However, if the Fed indicates that the rate increase pace may moderate as it evaluates the results of itsContinue reading “Us Dollar Increases as Another Significant Rate Hike by the Fed Is Expected, Pound Declines”

OPEC Asks for Investment and Increases Its Long-Term View of Oil Demand

In its yearly assessment presented on Monday, OPEC increased its projections for the medium- and long-term global oil consumption and stated that $12.1 trillion in investments will be necessary to meet this demand amid the energy transition. According to the Organization of the Petroleum Exporting Countries’ 2022 World Oil Outlook, oil consumption will peak beforeContinue reading “OPEC Asks for Investment and Increases Its Long-Term View of Oil Demand”

Report: Production of EV Batteries Is Hampered by Supply Chain and Geopolitical Issues

S&P Global Mobility issued a warning in research that the development of battery production for electric vehicles (EVs) could be hampered by a fragile supply chain weakened by geopolitical tensions, which would hinder EV adoption. The initial equipment suppliers of battery-electric and hybrid cars will encounter significant challenges as they compete for raw resources, according toContinue reading “Report: Production of EV Batteries Is Hampered by Supply Chain and Geopolitical Issues”

Ecb’s View on the Proposed Spanish Tax Is Largely Influenced by Banks’ Stability

Senior ECB central bankers stated that the institution may render a non-binding view on the planned levy on Spanish banks in the days or weeks to come after determining how it will affect the sector’s viability. In order to raise 3 billion euros ($2.93 billion) by 2024, a transitory bank fee was proposed in parliament byContinue reading “Ecb’s View on the Proposed Spanish Tax Is Largely Influenced by Banks’ Stability”

Bernanke, Bank Bailouts, and the Economics Nobel

Ben Bernanke wrote a paper about the part banks plays in financial crises back in 1983. That research was crucial in 2008 when the Fed made the contentious choice to save the big banks. The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel was awarded to Bernanke and two colleagues yesterday forContinue reading “Bernanke, Bank Bailouts, and the Economics Nobel”