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SEC Serves Tesla With Subpoena Over Elon Musk's Tweet
In the immortal words of Ron Burgandy: Boy, that escalated quickly. A week after Elon Musk shocked Wall Street with a tweet saying that he wants to take Tesla private - and that he had the funding in place to do so - the Securities and Exchange Commission has served the company with a subpoena, as first reported on Wednesday
Ripple Wants to Bring its Blockchain-Based Payments to China
An executive for Ripple tells CNBC that the company wants to bring its blockchain-based payments technology to China - while also ramping up adoption of its XRP coin. Ripple's blockchain technology is used to accelerate cross-border payments and Jeremy Light, vice president of European Union strategic accounts at Ripple, say that China "is definitely a target" for the company, according
Mark Cuban Talks Musk, Netflix, Amazon and More
illionaire investor, entrepreneur and "Shark Tank" personality Mark Cuban was a guest on CNBC's "Halftime Report" Monday to share his take on a handful of notable tech stocks. On Elon Musk Tesla Inc (NASDAQ: TSLA) CEO Elon Musk is among the handful of great entrepreneurs who run a great company, Cuban told CNBC's Scott Wapner. Musk does have a unique
Report: Tesla Board Was 'Totally Blindsided' by Elon Musk's Tweet, While Doubts Are Raised About Saudi Funds
One of the questions raised after Elon Musk shocked Wall Street last week when he tweeted his desire to take Tesla private was whether the company's board actually knew Musk was going to send that tweet. While Tesla's board released a brief statement confirming that Musk had approached it with his plan for taking the company private before taking to
Facebook is Getting Serious About its Secret Blockchain Strategy
Blockchain
Facebook's top-secret blockchain strategy appears to be gaining momentum after David Marcus, who is leading the social media giant's efforts, stepped down from the board of Coinbase less than a year after he joined as one of the $8-billion startup's directors. Marcus' departure from Coinbase was first reported by CoinDesk, which was told by a Coinbase rep that "Marcus' decision
Tinder Founders Sue IAC For Billions, Alleging a Scheme to 'Rob' Employees Through a 'Lowball' Valuation of Company
The founders, three current senior executives and some of the early employees of dating app Tinder have sued parent company IAC and its subsidiary Match Group for billions of dollars, alleging that the two companies cooked up a "lowball" valuation for Tinder that "robbed" employees of money. The complaint was filed in New York State Supreme Court in Manhattan on
Wearable Tech ETF Shifts Strategy to Virtual Reality
The Wearable ETF, which formerly traded under the ticker “WEAR” and focused on stocks with exposure to the wearable technologies theme, recently underwent some significant changes. The exchange traded fund is now known as the Tactile Analytics AR/VR Virtual Technologies Fund (CBOE: ARVR). What Happened ARVR now tracks the EQM Tactile AR/VR Virtual Technology Index. “"Wearable technology is something that
U.S. Core Inflation Increases Due to Metals Costs, Tariffs
U.S. consumer prices rose more than expected in July, reinforcing our view that the Fed will continue its gradual pace of interest rate hikes, at least for now. July’s U.S. CPI (Consumer Price Index) report showed core inflation accelerated to a 2.4% annual rate, up from 2.3% in June, as businesses may have started to pass on rising costs of
The Real Reason South Korea Is Warming up to Cryptocurrencies
FinTech
Since January of this year, South Korea has been making headlines for taking drastic measures in the cryptocurrency industry. The country was the first to pass regulation requiring players in the industry to synchronize their trading details with those in the bank. The country even went further to place a ban on initial coin offerings (ICOs). Q2 hedge fund letters,
Elon Musk Says He Met With Saudis Before Tweeting About Taking Tesla Private
Tesla founder and CEO Elon Musk said in a blog post on Monday that he's been approached "multiple times" by representatives from the Saudi Arabian sovereign wealth fund about taking the company private. Musk was seeking to add context and explain his shocking tweet on Aug. 7 in which he announced that he was "considering taking Tesla private at $420."