Monthly Archives: June 2023
Fidelity joins the rush for a bitcoin ETF, following BlackRock, Ark Invest and others
(CNBC) Asset management giant Fidelity Investments is again trying to launch a spot bitcoin exchange-traded fund, according to a Thursday filing. The move comes two weeks after BlackRock filed for a spot bitcoin ETF, which has long been opposed by […]
Former Pfizer employee charged with insider trading on unreleased Covid pill data
(CNBC) Federal authorities charged a former Pfizer employee and his close friend Thursday with illegally trading shares based on non-public trial results on the pharmaceutical company’s Covid antiviral pill Paxlovid. The Justice Department and the Securities and Exchange Commission both […]
Compliance chief at Chinese fintech company stole girlfriend’s insider info to trade VMware, tech stocks
(CNBC) The compliance chief at a Chinese payment processor was charged by the U.S. Securities and Exchange Commission and New York federal prosecutors with violating insider trading laws after sneaking onto his girlfriend’s computer to view meetings between investment bankers […]
Federal Reserve says 23 biggest banks weathered severe recession scenario in stress test
(CNBC) All 23 of the U.S. banks included in the Federal Reserve’s annual stress test weathered a severe recession scenario while continuing to lend to consumers and corporations, the regulator said Wednesday. The banks were able to maintain minimum capital […]
3AC liquidators seeking $1.3bn from hedge fund’s founders
(Hedgeweek) The founders of Three Arrows Capital (3AC) are being targeted by liquidators for the bankrupt cryptocurrency hedge fund for the recovery of $1.3 billion, the amount the allegedly racked up in losses prior to last year’s collapse of the […]
Odey AM in talks with SW Mitchell over transfer of Kelton funds
(Hedgeweek) Advanced talks” are ongoing between Odey Asset Management (Odey AM) and SW Mitchell Capital over the transfer of the Oliver Kelton and the funds he previously managed at Odey AM to the London-based European equities investment boutique, according to […]
New York activist Saba Capital holds major stake in VG1 fund
(Hedgeweek) Saba Capital, a $4.4 billion New York-based activist hedge fund firm founded by Boaz Weinstein, has emerged as a major shareholder in Regal Partners’ listed VG1 fund with a 5% stake in the investment vehicle, according to a report […]
Justice Department charges 78 people with $2.5 billion in health-care fraud
(CNBC) The Department of Justice announced Wednesday that it has recently charged 78 people with $2.5 billion in separate health-care fraud and opioid abuse schemes. The defendants allegedly defrauded programs used to take care of elderly and disabled people, and […]
Nvidia’s chips fuel A.I. — here’s why the U.S. worries about China’s access
(CNBC) Nvidia’s powerful semiconductors have taken on particular importance as their capacity to fuel artificial intelligence has become increasingly sought after. But their unique capacity is also what’s made China hawks in the U.S. fearful about what it could mean […]
SEC Obtains Emergency Relief to Halt Pre-IPO Stock Fraud Scheme by Unregistered Broker-Dealer
(HedgeCo.Net) The Securities and Exchange Commission has announced a preliminary injunction, asset freeze, and other emergency relief against Legend Venture Partners LLC, a New York City-based unregistered broker-dealer, in connection with a fraudulent scheme involving the sale of interests in […]
Odey suspends flagship hedge fund and one other following surge in redemption requests
(Hedgeweek) A surge in redemption requests from investors after the ouster of founder Crispin Odey following multiple allegations of sexual assault, has prompted Odey Asset Management (Odey AM) to suspend two funds, including the firm’s flagship hedge fund, according to […]
Bitcoin market cap could triple to $1.5tn, says hedge fund veteran
(Hedgeweek) Former hedge fund manager Hugh Hendry is bullish on bitcoin believing that the market cap of the flagship cryptocurrency could triple to $1.5 trillion on the back of worsening global macroeconomic conditions, according to a report by CryptoGlobe. To […]