On The Wire: Today's Top Stories In Finance & Tech

Welcome to your daily briefing, where we bring you stories from the forefront of finance, technology, and market analysis, sent directly to your inbox.

In today's roundup, we have a slightly odd but encouraging ETF update, and take a look at the structure of the bitcoin market: Steadily grinding higher, despite the brutal SEC action against Binance and Kraken. We also cover what's been going on at OpenAI, and why, plus some cautionary tales from the world of TradFi.

Ark ETF Update Is Confusing But Promising News

A new update to Ark's spot BTC ETF application includes odd language about providing "indirect exposure" to bitcoin, as well as specifying a fee and information about tax-efficient in-kind creation.

Ark ETF Update Is Confusing But Promising News

A new update to Ark’s spot BTC ETF application reveals interesting details, and some of the discussions going on behind the scenes.

REX WireBender Smort

"4" (Billion Dollars) To End Binance Case

The DOJ is reportedly in negotiations to settle the criminal case against Binance for over $4 billion. It's a fair price to end an unwelcome distraction, but it won't let CZ off the hook.

“4” (Billion Dollars) To End Binance Case

Settling the criminal case against Binance does not let CZ off the hook, but he’s safe for now.

REX WireBender Smort

Microsoft Benefits As OpenAI Implodes

Satya Nadella has rolled out the red carpet to Sam Altman and over 700 former OpenAI employees, after the board's disastrous decision to sack the tech entrepreneur.

Microsoft Benefits As OpenAI Implodes

Communication issues, possibly involving tensions between the non-profit and for-profit arms of OpenAI, may be at the heart of the board’s disastrous decision.

REX WireBender Smort

Tether's $1 Billion Investment In Firm Linked To Bribery Allegations

Tether, a leading stablecoin issuer, is entangled in a High Court case over its $1 billion deposit in Britannia Financial, founded by a British Conservative Party donor recently indicted for bribery. This highlights Tether's opaque financial dealings and links to political figures.

Tether’s $1 Billion Investment In Firm Linked To Bribery Allegations

Tether faces a High Court battle over a $1 billion deposit with Britannia Financial, linked to a Tory donor indicted in a bribery case.

REX WireAndres Luke

Push For Greater Clarity In $26 Trillion US Treasury Bond Market

Fed and Treasury seek more transparency in the $26 trillion US Treasury market, focusing on less liquid bonds and evolving participant dynamics, amid concerns over limited data access and market stresses.

Push For Greater Clarity In $26 Trillion US Treasury Bond Market

Federal Reserve and Treasury officials call for increased transparency in the $26 trillion US Treasury bond market.

REX WireAndres Luke

Bitcoin: Incremental, Not Exponential Gains

Despite some bearish traders still not throwing in the towel, the last year has been a textbook pattern of higher highs and higher lows for bitcoin. However, these steady gains might soon give way to a more volatile market, as wariness finally evaporates.

Bitcoin: Incremental, Not Exponential Gains

Bitcoin has posted steady gains over the past year, but that picture might be about to change.

REX WireBender Smort

SEC Charges Kraken In Ongoing Crypto Exchange Regulatory Push

The SEC has filed a lawsuit against cryptocurrency exchange Kraken, alleging it operated as an unregistered securities entity and commingled customer funds with its own. This move is part of the SEC's broader regulatory efforts targeting digital asset platforms.

SEC Charges Kraken In Ongoing Crypto Exchange Regulatory Push

The SEC sues Kraken for unregistered securities operations and commingling customer funds, escalating its crackdown on crypto exchanges.

REX WireAndres Luke

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