Finzer sees the decision as a major move by the SEC against creators and artists. He believes digital art should not be regulated in the same way collateralised debt obligations are. OpenSea is not the first Web3 organisation to be issued with a Wells notice this year, the same happened...

NFT Marketplace OpenSea Receives Wells Notice from SEC

Reuters

(Reuters) -The U.S. Securities and Exchange Commission has threatened to sue non-fungible tokens marketplace OpenSea, the company's CEO said in a post on social media platform X on Wednesday.

US SEC threatens to sue NFT marketplace OpenSea, CEO says

Crypto platform Abra is the latest to agree to a settlement with the Securities and Exchange Commission over accusations of unregistered securities. The settlement focused on its Abra Earn product, which the agency said had amassed as much as $500 million at one point. Abra has agreed to a settlement...

U.S. SEC Settles With Abra Over Unregistered Sales of Securities

South Dakota State

Your article was successfully shared with the contacts you provided. The Securities and Exchange Commission has filed fraud charges against China-based investment advisor QZ Asset Management, its CEO — whose touted AI investing algorithms gained media attention — and its holding company, alleging they scammed hundreds of customers out of millions of dollars before halting contact with clients and shutting down their website.

SEC Charges Firm, CEO With Bilking Hundreds of Clients

OpenSea, one of the largest marketplaces for non-fungible tokens (NFTs), found itself at the center of controversy after the Securities and Exchange Commission (SEC) issued a Wells Notice early Wednesday over the alleged classification of NFTs as “securities.”. This prompted reactions from prominent figures in the crypto industry, US...

OpenSea’s SEC Wells Notice Triggers Feedback From Top Crypto Figures & Politicians

Bath & Body Works expects net sales to fall between 2% and 4% this year, worse than its previously offered guidance. CEO Gina Boswell called the lower range "prudent" amid challenging consumer spending trends. The retailer also missed expectations with its second-quarter net sales. Bath & Body Works (BBWI) shares...

Bath & Body Works Offered a 'Prudent' Outlook. Its Shares Are Falling

A former JPMorgan employee is in the cross hairs of the Financial Industry Regulatory Authority (FINRA) over alleged regulatory violations. FINRA says it’s penalizing Dale Self with a $5,000 fine and suspending him from associating with its members for 15 business days for “improperly” taking the personal information of dozens of customers from J.P. Morgan Securities without the consent of his employer or the clients.

JPMorgan Employee Allegedly Steals Account Data, Social Security Numbers and Other Sensitive Information on Over 200 Customers: FINRA

Kohl's beat profit estimates for the second quarter, despite lower sales, as the discount department store operator cut costs. Kohl's warned about a challenging consumer environment but raised its full-year outlook for earnings per share. Kohl's shares edged higher Wednesday, but they've lost nearly a third of their value this...

Kohl's Cuts Costs to Address a Challenging Consumer Environment

CBS News

The World Bank has ceased all paid advertising on Elon Musk's social media platform X, which was formerly Twitter, after a CBS News investigation found promoted advertisements from the organization showing up under a racist post from an account that prolifically posts pro-Nazi and white nationalist content. CBS News found a verified X account with more than 115,000 followers that had posted a racist image alongside a post praising Europe's colonization of Africa. CBS News is not publicly identifying the accounts spreading racist content on X. A promoted advertisement for the World Bank showed up in the comments section below the post. "The...

World Bank pulls paid ads from X over racist content on Musk's platform

Available to anyone nationwide, California Coast Credit Union is paying an eye-popping 9.50% APY on a 5-month CD. But this CD won't suit everyone, as it only allows a maximum deposit of $3,000. It also requires having another active account with Cal Coast. If you're looking to sock away more...

This 9.5% CD for Small Balances Is Still Available. But How Long Will It Last?

The US Sun

LENSCRAFTERS agreed to a $39 million settlement to resolve a class action lawsuit regarding deceptive advertising. The settlement offers direct payments to consumers who claimed they fell victim to false advertising. The lawsuit claimed that LensCrafters made misleading statements about the AccuFit Digital System. LensCrafters said its system was accurate...

LensCrafters is giving customers one-time payments from $39 million settlement – but three criteria must be met

The Associated Press

REHOBOTH BEACH, Del. (AP) — The Treasury Department has issued regulations aimed at making it harder for criminals to launder money by paying cash for residential real estate.  Under rules finalized Wednesday, investment advisers and real estate professionals will be required to report cash sales of residential real estate sold to legal entities, trusts and shell companies. The requirements won’t apply to sales to individuals or purchases involving mortgages or other financing. The new rules come as part of a Biden administration effort to combat money laundering and the movement of dirty money through the American financial system. All-cash purchases of residential real estate are considered a high risk for money laundering.  The Treasury’s Financial Crimes Enforcement Network, also known as FinCEN, will administer the rules. 

New US rules try to make it harder for criminals to launder money by paying cash for homes

In the world of cryptocurrency, where innovation meets meme culture, SunPaw emerges as a unique contender on the Tron blockchain. Combining the playful spirit of memes with meaningful charitable contributions, SunPaw is set to redefine what it means to be a memecoin in 2024. SunPaw: A New Breed of Memecoin.

SunPaw MemeCoin Debuts on Tron Blockchain: The Future of Fun, Community, and Real-World Change

Uber Technologies Inc. was hit by a record €290 million ($324 million) fine by the Dutch privacy watchdog for failing to abide by European protection standards when it shipped swathes of sensitive data about its drivers to the US. The Dutch Data Protection Authority said Uber was collecting information...

Uber Hit by Record $324 Million Fine for Data Transfers to US

This story is part of CNBC Make It's The Moment series, where highly successful people reveal the critical moment that changed the trajectory of their lives and careers, discussing what drove them to make the leap into the unknown. Emery Wells put himself on the path to a dream career...

42-year-old sold his startup for $1.3 billion—he started by buying a $17,500 camera he couldn't afford

CoinDesk

Indian rival CoinSwitch said it is likely to sue the hacked crypto exchange, where $9.6 million worth of deposits were held.

WazirX Asks Singapore Court for 6 Months to Restructure Liabilities as CoinSwitch Weighs Legal Action

Colorado State

Contributors represent independent, third-party users who have joined our contributor program and self-verified their accounts. They have also demonstrated their experience writing hard news for other outlets. Contributors are expected, like all users, to adhere to our Community Standards.

contributor

David Heitz

A bill quietly introduced this spring in the Colorado legislature to decriminalize the possession of drug paraphernalia obtained by harm reductionists has become law. As low-key as the legislation was introduced, the bill was signed into law without fanfare June 6. It garnered little to no media attention.

Colorado legalizes needles, pipes for meth and crack if obtained by harm reduction group

American depositary receipts (ADRs) of Chinese e-commerce company PDD Holdings are plunging in premarket trading Monday after the parent of discount marketplace Temu posted lower-than-estimated sales. PDD reported second-quarter sales of 97.06 billion yuan ($13.63 billion), below consensus estimates of analysts polled by Visible Alpha. PDD chairman and co-CEO Lei...

Temu Parent PDD Stock Sinks on Worse-Than-Expected Q2 Sales

Fruition Production is set to release a documentary in November that examines XRP’s significant role and development within the financial sector. The documentary will feature insights from Ripple’s CTO and will be available on Amazon and Apple TV, choosing independent distribution over traditional media channels. The world of...

Unlocking XRP: Fruition Production’s Documentary to Explore Ripple’s Cryptocurrency This November

Apple shares are likely to remain in focus ahead of a Sept. 9 event where the tech giant is expected to unveil the iPhone 16 with AI capability, as well as new versions of the Apple Watch and AirPods. In other news, the tech giant announced late Monday that it...

Watch These Apple Stock Price Levels Ahead of Expected iPhone 16 Launch

NewsBreak

NFT Marketplace OpenSea Gets Wells Notice, May Face SEC Action

NFT marketplace OpenSea received a Wells Notice from the SEC, says the company's CEO. The SEC alleges that NFTs are securities and their sale broke securities...

NFT Marketplace OpenSea Gets Wells Notice, May Face SEC Action

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