Tag: CEO

Coinbase may face years-long court battle with SEC, CEO warns: Report

United States cryptocurrency exchange Coinbase is gearing up for a lengthy legal battle with the Securities and Exchange Commission (SEC) after the regulator warned the company of potential securities law violations, CEO Brian Armstrong told CNBC in an interview on April 18. Coinbase received a Wells notice from the U.S. SEC on March 22, indicating a possible enforcement action. The notice is usually the last step before the regulator files charges. In response, Armstrong expressed disappointment and revealed that the company had not received any clear details from the SEC about…

EU legislators call for ‘safe’ AI as Google’s CEO cautions on rapid development

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A dozen European Union (EU) politicians have signed a letter calling for the “safe” development of artificial intelligence (AI) as Google’s CEO cautioned against releasing powerful AI tech before society has had a chance to adapt. An April 16 open letter shared on Twitter by EU Parliament member, Dragoș Tudorache, called for a collaborative effort and a universal set of rules around the development of AI. Tudorache, along with 11 other EU politicians named in the letter, asked the European Commission President Ursula von der Leyen and United States President…

SEC Sues Crypto Exchange Bittrex, CEO for Operating without Registration

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The US securities regulator has charged cryptocurrency exchange Bittrex and William Shihara, its Founder and former CEO, for operating as a national securities exchange, broker and clearing agency without registration. According to US Securities and Exchange Commission (SEC), Bittrex violated registration requirements of the US federal securities law, instructed crypto issuers using its platform to delete certain information that indicated their digital assets were securities, and ran different market intermediary functions under one entity in order to maximize profits. The regulator also filed charges against Bittrex Global GmbH, a foreign…

Paxful CEO announces 88% of accounts unfrozen, $4.4M in funds remaining

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The chief executive officer of peer-to-peer crypto marketplace Paxful has announced the unfreezing of 88% of previously frozen user accounts more than a week after suspending operations. In an April 16 Twitter thread, Paxful CEO Ray Youssef said roughly $4.4 million in frozen funds remained on the platform after staff had unfrozen 88% of existing accounts. According to Youssef, the unfreezing of accounts had been accomplished “with no engineers or compliance folks,” claiming all remaining frozen funds were “in the hands of” United States financial regulators. Youssef said though roughly…

Google CEO Says Society Must Prepare for AI Acceleration or Risk Getting Overrun

Google and Alphabet CEO Sundar Pichai thinks AI could cause serious harm in different sectors if society does not brace for it.  According to Google (NASDAQ: GOOGL) CEO Sundar Pichai, society needs to brace itself for the far-reaching impact of artificial intelligence (AI). In a recent media session, Pichai opined that AI acceleration might distort everyday life without proper guiding measures. Warning that AI advancement laws are “not for a company to decide” alone, Pichai believes AI will impact “every product of every company”. In the interview, the Google CEO suggested that it would be imprudent…

Blackrock CEO Expects Inflation to Persist, but No Major US Recession in 2023 – Economics Bitcoin News

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Blackrock’s CEO, Larry Fink, stated in an interview on Friday that he does not anticipate a “big recession” in the United States. However, he believes that “inflation is going to be stickier for longer.” In contrast to the U.S. central bank’s 2% goal, Fink predicts that “we’re going to have a 4ish floor in inflation.” Blackrock Clients Reduce Risk in Portfolios as Inflation Concerns Persist Larry Fink, chairman and CEO of Blackrock (NYSE: BLK), the asset manager with more than $9 trillion in assets under management (AUM), predicts that inflation…

Fight between crypto and governments “just getting started”, says ShapeShift CEO

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Despite the unprecedented regulatory pressure that crypto has been facing recently in the United States, the fight between the American government and the crypto industry has just started, believes ShapeShift CEO Erik Voorhees.  According to the entrepreneur, U.S. authorities still don’t see crypto as an existential threat to the fiat system, and their recent crackdown is just an opportunistic reaction to last year’s blowups of fraudulent crypto companies.  “They see it as sort of this scammy area where they can come in and look like the hero for cleaning up…

PayPal Cut CEO Dan Schulman’s Remuneration by 32%

Schulman is set to retire by the end of the year as he announced back in February. American multinational financial services and payment firm PayPal Holdings Inc (NASDAQ: PYPL) has slashed the cash remuneration for its Chief Executive Officer (CEO) Dan Schulman in a rare cost-cutting move. According to a filing lodged by the company, Schulman was paid a total of $22 million for the year, down by 32% from the $32 million he received from the firm last year. The slash in remuneration for Schulman comes as a result…