Robinhood Joins Coinbase in Saying It Tried to ‘Come In and Register’ Like SEC Wanted

With Coinbase (COIN) and Binance accused of running illegal exchanges by the U.S. Securities and Exchange Commission (SEC), the latest industry testimony in the U.S. House of Representatives this week revealed that companies had desperately sought the agency’s help to properly register but were turned away. SEC Chair Gary Gensler has a go-to crypto invitation … Read more

Binance CEO’s trading firm received $11 billion via client deposit company, SEC says

By Tom Wilson LONDON (Reuters) – Merit Peak, an offshore trading company controlled by Binance CEO Changpeng Zhao, received around $11 billion of client assets through a Seychelles-based firm set up to take customer deposits, a U.S. Securities and Exchange Commission filing shows. The SEC filing, which on Tuesday asked a U.S. court to freeze … Read more

Billionaire investor Stanley Druckenmiller warns there are ‘more shoes to drop’ and says Silicon Valley Bank was ‘probably the tip of the iceberg’

Stanley Druckenmiller fears a recession is on the way after more than a year of aggressive interest rate hikes from the Federal Reserve have failed to quash inflation. The famed hedge funder, who now operates the Duquesne Family Office, said Wednesday that despite the economy’s recent resilience—headlined by a low unemployment rate and positive first-quarter … Read more

‘They Will Be Ouching’: Saudi Energy Minister Warned That Oil Short Sellers Would Feel Pain — Now The Nation Has Made A Production Cut Of 1 Million Barrels Per Day

Oil prices have come down quite a bit from their 2022 peak. While that has prompted some traders to bet against the commodity, Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman has issued a stern warning for the short sellers. “I keep advising them that they will be ouching — they did ouch in April,” … Read more

2024 Jeep Wrangler Rubicon 392 Price Tops $100,000 With All Options

The refreshed 2024 Jeep Wrangler debuted earlier this year at the New York Auto Show, but we only recently received pricing for the iconic off-roader. Most trim levels saw just minor base-price increases, which is certainly normal for an updated model year. The range-topping Rubicon 392, however, jumped by $5,100. That’s enough to make the … Read more

This Type of Portfolio Could Help You Retire With 20% More Money Than Index Funds

If you’re saving for retirement, a broad market index portfolio is typically a good option. Investing in a target date fund or S&P 500 index fund, for instance, are low-cost ways to gain broad market exposure. However, newly published research indicates there may be a significantly more lucrative way to handle your nest egg. A … Read more

2023 Detroit Auto Show Will Have Twice As Many Automakers Versus Last Year

The Detroit Auto Show is back scheduled from September 13 through September 24 at Huntington Place in Detroit. Like last year, the 2023 show features indoor and outdoor events, including hands-on experiences with electric and autonomous vehicles in a course laid out at the Detroit Riverfront portions of the Chevrolet Detroit Grand Prix circuit.  Show … Read more