Law
fromReadWrite
17 minutes agoGemini and Coinbase New York lawsuits explained - why it matters
New York Attorney General sues Coinbase and Gemini for operating illegal online gambling markets without required licenses.
The lawsuit claims Two Harbors submitted materially incomplete and misleading financial disclosures, alleging that the board agreed to unfair deal protections and that executives timed stock trades to personally benefit from the mergers and acquisitions activity.
"I'm surprised by how neutral the rule was, when you think about the massive amount of lobbying there's been around it. It doesn't say certain assets are good or bad. Instead, it really focuses on making a rules-based framework instead of a litigation-based one."
The measure, known as Senate File 2494, is aimed at event-driven contracts and the online platforms where people buy and sell them. Lawmakers are pitching it as a way to bring structure and oversight to prediction-style markets that have grown exponentially in the past two years.
The guardrails we built use state-of-the-art technology and screening lists, but no screening system is perfect, and motivated bad actors consistently try to find a way.
I don't want the closers and processors to have to get into the weeds with this. I don't want there to be any negative shadowing of our title offices, because we're having to ask for this. It's really not a title role, as far as the title insurance product that we provide. It definitely has been tasked to us, but it's not something that I want to be viewed as, 'Title requires this.' This is a governmental requirement.
The deal represents a defining milestone for the firm. It reflects not only the continued strength of the non-QM RMBS market, but also the confidence investors place in our platform and in AD non-QM mortgages as a premier asset class.
The Commission has full authority to police illegal trading practices occurring on any DCM, including those described above related to prediction markets. Kalshi used its own announcement to underscore that we ban insider trading and said it had launched about 200 investigations over the past year. More than a dozen of those inquiries led to formal enforcement actions.