*Billionaires Elon Musk And Jack Dorsey Give Coinbase Two Tips*

It's a nightmarish day for Coinbase. The most famous platform for buying and selling cryptocurrencies in the United States woke up on June 6 with a complaint filed by the US Securities and Exchange Commission (SEC) against it. The SEC alleges that Coinbase (COIN) - Get Free Report was operating illegally because since 2019 it has been "an unregistered national securities exchange, broker, and clearing agency." The Wall Street regulator also charged Coinbase "for failing to register the offer and sale of its crypto asset staking-as-a-service program," according to a statement. "We allege that Coinbase, despite being subject to the securities laws, commingled and unlawfully offered exchange, broker-dealer, and clearinghouse functions,” said SEC Chairman Gary Gensler. "In other parts of our securities markets, these functions are separate. Coinbase’s alleged failures deprive investors of critical protections, including rulebooks that prevent fraud and manipulation, proper disclosure, safeguards against conflicts of interest, and routine inspection by the SEC."What Is a Security? The feud between the SEC and Coinbase revolves around two points: Is a cryptocurrency a security? And what about the staking service? For the SEC they are securities. A security is, according to the agency, "an investment of money, in a common enterprise, with a reasonable expectation of profit derived from the efforts of others.” The SEC references a Supreme Court judgment of 1946, the Howey Test, that sets what an "investment contract" is and therefore would be subject to U.S. securities laws. An investment contract exists if money is invested with expectations of profits. Seen in this light, any coin except bitcoin is a security, according to the SEC. In addition to coins, the SEC is also targeting staking, which is is a way in which investors lock up – or stake – their crypto tokens with a blockchain validator. The goal is to be rewarded with new coins when their staked crypto tokens become part of the process for validating data on the blockchain. For billionaires Jack Dorsey and Elon Musk, the SEC offensive means Coinbase can now focus on bitcoin and Dogecoin, their favorite cryptocurrencies. This is what they said in a thread on Twitter started by Pierre Rochard, VP of Research at Riot Platforms. It's important to note that Rochard is a bitcoin evangelist. Bitcoin And Dogecoin "Coinbase should pivot back to being focused on #Bitcoin," Rochard posted on June 6, while resurrecting a tweet of Coinbase's CEO Brian Armstrong from 2015. "Ripple, Stellar, and Altcoins are all a distraction. Bitcoin is way too far ahead. We should be focused on bitcoin and sidechains," Armstrong said on Feb.23, 2015. Dorsey, a bitcoin evangelist agrees, in light of the current regulatory and legal environment. "
[Read more...](https://www.thestreet.com/investing/cryptocurrency/billionaires-elon-musk-and-jack-dorsey-give-coinbase-two-tips)

Billionaires Elon Musk And Jack Dorsey Give Coinbase Two Tips

It's a nightmarish day for Coinbase. The most famous platform for buying and selling cryptocurrencies in the United States woke up on June 6 with a complaint filed by the US Securities and Exchange Commission (SEC) against it. The SEC alleges that Coinbase (COIN) - Get Free Report was operating illegally because since 2019 it has been "an unregistered national securities exchange, broker, and clearing agency." The Wall Street regulator also charged Coinbase "for failing to register the offer and sale of its crypto asset staking-as-a-service program," according to a statement. "We allege that Coinbase, despite being subject to the securities laws, commingled and unlawfully offered exchange, broker-dealer, and clearinghouse functions,” said SEC Chairman Gary Gensler. "In other parts of our securities markets, these functions are separate. Coinbase’s alleged failures deprive investors of critical protections, including rulebooks that prevent fraud and manipulation, proper disclosure, safeguards against conflicts of interest, and routine inspection by the SEC."What Is a Security? The feud between the SEC and Coinbase revolves around two points: Is a cryptocurrency a security? And what about the staking service? For the SEC they are securities. A security is, according to the agency, "an investment of money, in a common enterprise, with a reasonable expectation of profit derived from the efforts of others.” The SEC references a Supreme Court judgment of 1946, the Howey Test, that sets what an "investment contract" is and therefore would be subject to U.S. securities laws. An investment contract exists if money is invested with expectations of profits. Seen in this light, any coin except bitcoin is a security, according to the SEC. In addition to coins, the SEC is also targeting staking, which is is a way in which investors lock up – or stake – their crypto tokens with a blockchain validator. The goal is to be rewarded with new coins when their staked crypto tokens become part of the process for validating data on the blockchain. For billionaires Jack Dorsey and Elon Musk, the SEC offensive means Coinbase can now focus on bitcoin and Dogecoin, their favorite cryptocurrencies. This is what they said in a thread on Twitter started by Pierre Rochard, VP of Research at Riot Platforms. It's important to note that Rochard is a bitcoin evangelist. Bitcoin And Dogecoin "Coinbase should pivot back to being focused on #Bitcoin," Rochard posted on June 6, while resurrecting a tweet of Coinbase's CEO Brian Armstrong from 2015. "Ripple, Stellar, and Altcoins are all a distraction. Bitcoin is way too far ahead. We should be focused on bitcoin and sidechains," Armstrong said on Feb.23, 2015. Dorsey, a bitcoin evangelist agrees, in light of the current regulatory and legal environment. "
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*Billionaires Musk And Dorsey Give Advice to Struggling Coinbase*

It's a nightmarish day for Coinbase. The most famous platform for buying and selling cryptocurrencies in the United States woke up on June 6 with a complaint filed by the U.S. Securities and Exchange Commission (SEC) against it. The SEC alleges that Coinbase (COIN) - Get Free Report was operating illegally because since 2019 it has been "an unregistered national securities exchange, broker, and clearing agency." The Wall Street regulator also charged Coinbase "for failing to register the offer and sale of its crypto asset staking-as-a-service program," according to a statement. "We allege that Coinbase, despite being subject to the securities laws, commingled and unlawfully offered exchange, broker-dealer, and clearinghouse functions,” said SEC Chairman Gary Gensler. "In other parts of our securities markets, these functions are separate. Coinbase’s alleged failures deprive investors of critical protections, including rulebooks that prevent fraud and manipulation, proper disclosure, safeguards against conflicts of interest, and routine inspection by the SEC."What Is a Security? The feud between the SEC and Coinbase revolves around two points: Is a cryptocurrency a security? And what about the staking service? For the SEC they are securities. A security is, according to the agency, "an investment of money, in a common enterprise, with a reasonable expectation of profit derived from the efforts of others.” The SEC references a Supreme Court judgment of 1946, the Howey Test, that sets what an "investment contract" is and therefore would be subject to U.S. securities laws. An investment contract exists if money is invested with expectations of profits. Seen in this light, any coin except bitcoin is a security, according to the SEC. In addition to coins, the SEC is also targeting staking, which is is a way in which investors lock up – or stake – their crypto tokens with a blockchain validator. The goal is to be rewarded with new coins when their staked crypto tokens become part of the process for validating data on the blockchain. For billionaires Jack Dorsey and Elon Musk, the SEC offensive means Coinbase can now focus on bitcoin and Dogecoin, their favorite cryptocurrencies. This is what they said in a thread on Twitter started by Pierre Rochard, VP of Research at Riot Platforms. It's important to note that Rochard is a bitcoin evangelist. Bitcoin And Dogecoin "Coinbase should pivot back to being focused on #Bitcoin," Rochard posted on June 6, while resurrecting a tweet of Coinbase's CEO Brian Armstrong from 2015. "Ripple, Stellar, and Altcoins are all a distraction. Bitcoin is way too far ahead. We should be focused on bitcoin and sidechains," Armstrong said on Feb.23, 2015. Dorsey, a bitcoin evangelist agrees, in light of the current regulatory and legal environment. "
[Read more...](https://www.thestreet.com/investing/cryptocurrency/billionaires-musk-and-dorsey-give-advice-to-struggling-coinbase)

Billionaires Musk And Dorsey Give Advice to Struggling Coinbase

It's a nightmarish day for Coinbase. The most famous platform for buying and selling cryptocurrencies in the United States woke up on June 6 with a complaint filed by the U.S. Securities and Exchange Commission (SEC) against it. The SEC alleges that Coinbase (COIN) - Get Free Report was operating illegally because since 2019 it has been "an unregistered national securities exchange, broker, and clearing agency." The Wall Street regulator also charged Coinbase "for failing to register the offer and sale of its crypto asset staking-as-a-service program," according to a statement. "We allege that Coinbase, despite being subject to the securities laws, commingled and unlawfully offered exchange, broker-dealer, and clearinghouse functions,” said SEC Chairman Gary Gensler. "In other parts of our securities markets, these functions are separate. Coinbase’s alleged failures deprive investors of critical protections, including rulebooks that prevent fraud and manipulation, proper disclosure, safeguards against conflicts of interest, and routine inspection by the SEC."What Is a Security? The feud between the SEC and Coinbase revolves around two points: Is a cryptocurrency a security? And what about the staking service? For the SEC they are securities. A security is, according to the agency, "an investment of money, in a common enterprise, with a reasonable expectation of profit derived from the efforts of others.” The SEC references a Supreme Court judgment of 1946, the Howey Test, that sets what an "investment contract" is and therefore would be subject to U.S. securities laws. An investment contract exists if money is invested with expectations of profits. Seen in this light, any coin except bitcoin is a security, according to the SEC. In addition to coins, the SEC is also targeting staking, which is is a way in which investors lock up – or stake – their crypto tokens with a blockchain validator. The goal is to be rewarded with new coins when their staked crypto tokens become part of the process for validating data on the blockchain. For billionaires Jack Dorsey and Elon Musk, the SEC offensive means Coinbase can now focus on bitcoin and Dogecoin, their favorite cryptocurrencies. This is what they said in a thread on Twitter started by Pierre Rochard, VP of Research at Riot Platforms. It's important to note that Rochard is a bitcoin evangelist. Bitcoin And Dogecoin "Coinbase should pivot back to being focused on #Bitcoin," Rochard posted on June 6, while resurrecting a tweet of Coinbase's CEO Brian Armstrong from 2015. "Ripple, Stellar, and Altcoins are all a distraction. Bitcoin is way too far ahead. We should be focused on bitcoin and sidechains," Armstrong said on Feb.23, 2015. Dorsey, a bitcoin evangelist agrees, in light of the current regulatory and legal environment. "
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*Elon Musk And Jack Dorsey Make a Surprise Suggestion to Coinbase*

It's a nightmarish day for Coinbase. The most famous platform for buying and selling cryptocurrencies in the United States woke up on June 6 with a complaint filed by the U.S. Securities and Exchange Commission (SEC) against it. The SEC alleges that Coinbase (COIN) - Get Free Report was operating illegally because since 2019 it has been "an unregistered national securities exchange, broker, and clearing agency." The Wall Street regulator also charged Coinbase "for failing to register the offer and sale of its crypto asset staking-as-a-service program," according to a statement. "We allege that Coinbase, despite being subject to the securities laws, commingled and unlawfully offered exchange, broker-dealer, and clearinghouse functions,” said SEC Chairman Gary Gensler. "In other parts of our securities markets, these functions are separate. Coinbase’s alleged failures deprive investors of critical protections, including rulebooks that prevent fraud and manipulation, proper disclosure, safeguards against conflicts of interest, and routine inspection by the SEC."What Is a Security? The feud between the SEC and Coinbase revolves around two points: Is a cryptocurrency a security? And what about the staking service? For the SEC they are securities. A security is, according to the agency, "an investment of money, in a common enterprise, with a reasonable expectation of profit derived from the efforts of others.” The SEC references a Supreme Court judgment of 1946, the Howey Test, that sets what an "investment contract" is and therefore would be subject to U.S. securities laws. An investment contract exists if money is invested with expectations of profits. Seen in this light, any coin except bitcoin is a security, according to the SEC. In addition to coins, the SEC is also targeting staking, which is is a way in which investors lock up – or stake – their crypto tokens with a blockchain validator. The goal is to be rewarded with new coins when their staked crypto tokens become part of the process for validating data on the blockchain. For billionaires Jack Dorsey and Elon Musk, the SEC offensive means Coinbase can now focus on bitcoin and Dogecoin, their favorite cryptocurrencies. This is what they said in a thread on Twitter started by Pierre Rochard, VP of Research at Riot Platforms. It's important to note that Rochard is a bitcoin evangelist. Bitcoin And Dogecoin "Coinbase should pivot back to being focused on #Bitcoin," Rochard posted on June 6, while resurrecting a tweet of Coinbase's CEO Brian Armstrong from 2015. "Ripple, Stellar, and Altcoins are all a distraction. Bitcoin is way too far ahead. We should be focused on bitcoin and sidechains," Armstrong said on Feb.23, 2015. Dorsey, a bitcoin evangelist agrees, in light of the current regulatory and legal environment. "
[Read more...](https://www.thestreet.com/investing/cryptocurrency/elon-musk-and-jack-dorsey-make-a-surprise-suggestion-to-coinbase)

Elon Musk And Jack Dorsey Make a Surprise Suggestion to Coinbase

It's a nightmarish day for Coinbase. The most famous platform for buying and selling cryptocurrencies in the United States woke up on June 6 with a complaint filed by the U.S. Securities and Exchange Commission (SEC) against it. The SEC alleges that Coinbase (COIN) - Get Free Report was operating illegally because since 2019 it has been "an unregistered national securities exchange, broker, and clearing agency." The Wall Street regulator also charged Coinbase "for failing to register the offer and sale of its crypto asset staking-as-a-service program," according to a statement. "We allege that Coinbase, despite being subject to the securities laws, commingled and unlawfully offered exchange, broker-dealer, and clearinghouse functions,” said SEC Chairman Gary Gensler. "In other parts of our securities markets, these functions are separate. Coinbase’s alleged failures deprive investors of critical protections, including rulebooks that prevent fraud and manipulation, proper disclosure, safeguards against conflicts of interest, and routine inspection by the SEC."What Is a Security? The feud between the SEC and Coinbase revolves around two points: Is a cryptocurrency a security? And what about the staking service? For the SEC they are securities. A security is, according to the agency, "an investment of money, in a common enterprise, with a reasonable expectation of profit derived from the efforts of others.” The SEC references a Supreme Court judgment of 1946, the Howey Test, that sets what an "investment contract" is and therefore would be subject to U.S. securities laws. An investment contract exists if money is invested with expectations of profits. Seen in this light, any coin except bitcoin is a security, according to the SEC. In addition to coins, the SEC is also targeting staking, which is is a way in which investors lock up – or stake – their crypto tokens with a blockchain validator. The goal is to be rewarded with new coins when their staked crypto tokens become part of the process for validating data on the blockchain. For billionaires Jack Dorsey and Elon Musk, the SEC offensive means Coinbase can now focus on bitcoin and Dogecoin, their favorite cryptocurrencies. This is what they said in a thread on Twitter started by Pierre Rochard, VP of Research at Riot Platforms. It's important to note that Rochard is a bitcoin evangelist. Bitcoin And Dogecoin "Coinbase should pivot back to being focused on #Bitcoin," Rochard posted on June 6, while resurrecting a tweet of Coinbase's CEO Brian Armstrong from 2015. "Ripple, Stellar, and Altcoins are all a distraction. Bitcoin is way too far ahead. We should be focused on bitcoin and sidechains," Armstrong said on Feb.23, 2015. Dorsey, a bitcoin evangelist agrees, in light of the current regulatory and legal environment. "
Read more...

*The Inverse Cramer ETF is the fund that bets against ‘Mad Money’ host Jim Cramer*

Jim Cramer (who cofounded this publication in 1996 but left in 2021) is a well-known investing personality and former hedge fund manager. He got his start on Wall Street working as an investment banker with Goldman Sachs in the mid-80s. These days, he haunts the floor of the New York Stock Exchange each trading day on CNBC’s “Squawk on the Street,” a news program that follows the first 90 minutes of each day’s trading session. On “Mad Money,” Cramer’s daily evening show, the boisterous investor sports rolled-up sleeves, talks a mile a minute and makes frequent use of a radio-DJ-style soundboard of big-red-button-activated sound effects. He does all of this while doling out his latest takes on the market — all on just four hours of sleep per night, according to a 2015 interview with “Business Insider.”Related: Cathie Wood net worth: Why the Ark Invest CEO is an investor to watch Whether you love him, hate him, or simply enjoy watching his eccentric antics bemusedly from a distance, you have to admit that Jim Cramer is one of the loudest voices on Wall Street, and his advice does cause stock prices to move — at least temporarily. That being said, many of his stock picks have flopped shortly after he recommended them. His predictions have been wrong too many times to count. A 2017 study by the Wharton School that analyzed Cramer's Action Alerts Plus portfolio from 2000 to 2017 determined that it returned an average of 4.08% annually. Compared to the S&P 500's average annual return of 7.07% over that same period, his recs come up short.#Bitcoin up +38% since Jim Cramer said "Bitcoin is about to go down big!” Never fails...
[Read more...](https://www.thestreet.com/investing/stocks/inverse-cramer-etf-bets-against-mad-money-jim-cramer)

The Inverse Cramer ETF is the fund that bets against ‘Mad Money’ host Jim Cramer

Jim Cramer (who cofounded this publication in 1996 but left in 2021) is a well-known investing personality and former hedge fund manager. He got his start on Wall Street working as an investment banker with Goldman Sachs in the mid-80s. These days, he haunts the floor of the New York Stock Exchange each trading day on CNBC’s “Squawk on the Street,” a news program that follows the first 90 minutes of each day’s trading session. On “Mad Money,” Cramer’s daily evening show, the boisterous investor sports rolled-up sleeves, talks a mile a minute and makes frequent use of a radio-DJ-style soundboard of big-red-button-activated sound effects. He does all of this while doling out his latest takes on the market — all on just four hours of sleep per night, according to a 2015 interview with “Business Insider.”Related: Cathie Wood net worth: Why the Ark Invest CEO is an investor to watch Whether you love him, hate him, or simply enjoy watching his eccentric antics bemusedly from a distance, you have to admit that Jim Cramer is one of the loudest voices on Wall Street, and his advice does cause stock prices to move — at least temporarily. That being said, many of his stock picks have flopped shortly after he recommended them. His predictions have been wrong too many times to count. A 2017 study by the Wharton School that analyzed Cramer's Action Alerts Plus portfolio from 2000 to 2017 determined that it returned an average of 4.08% annually. Compared to the S&P 500's average annual return of 7.07% over that same period, his recs come up short.#Bitcoin up +38% since Jim Cramer said "Bitcoin is about to go down big!” Never fails...
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