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On August 22, local time, US President Trump stated at Joint Base Andrews, Maryland, on August 21 that he believed Iran was not yet ready to reach a "suitable agreement," and that Washington was observing "developments" in the conflict. "We have complete control over the entire region around the Strait of Hormuz, including its interior and land areas. So they really want a deal, but in my opinion, theyre not ready to reach a suitable deal," Trump added. When asked if the US had limited military options against Iran, Trump stated, "That just means were watching how things develop." Trump claimed that a shift towards "economic warfare" against Iran did not mean that US military options were limited.August 22nd - According to CNBC, Anthropic is expected to list negative public sentiment regarding artificial intelligence and data centers as a risk factor in its IPO prospectus, to be released in the coming weeks. Sources familiar with the matter revealed that Anthropic recently held pre-IPO "market scouting" meetings with bankers and investors, who focused on competitive pressures, the impact of its open-source model on profit margins, and the potential risks posed by a slowdown in data center construction. Anthropic, currently valued at nearly $1 trillion in the private market, is preparing for a major IPO. However, with rising public concerns in the US about AI replacing jobs and data center expansion, this backlash is becoming a new challenge for the companys listing. The company has previously achieved an annualized revenue run rate exceeding $65 billion.August 22 – According to sources cited by the Canadian Broadcasting Corporation (CBC), despite the final stages of US-Canada trade negotiations, US Commerce Secretary Rutnick is dissatisfied with the current draft agreement and is pushing for revisions. Sources say Rutnick opposes reducing Canadian auto tariffs from 25% to 15%, arguing that this could undermine the USs goal of boosting domestic manufacturing. His stance differs from the optimistic signals previously released by Trump and Canadian Prime Minister Carney. Currently, both sides are striving to reach a final agreement before the new tariffs take effect. The draft agreement reportedly includes reducing tariffs on Canadian steel and aluminum, adjusting dairy quotas, and Canada removing some restrictions on US alcoholic beverages. Canadian Trade Minister LeBlanc stated that the two sides are "very close" to reaching an agreement.Market news: Anthropic listed the public backlash against the AI industry as a risk factor in its IPO filing.Sources say U.S. Commerce Secretary Lutnick believes the U.S. can still negotiate a more favorable deal and opposes lowering Section 232 tariffs.

U.S. charges ex-Coinbase manager in first crypto insider trading case

Jimmy Khan

Jul 22, 2022 15:11

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U.S. authorities said on Thursday that a former product manager at bitcoin exchange Coinbase Global and two other people have been charged with wire fraud in connection with an insider trading conspiracy.


In the first insider trading case involving cryptocurrencies, a former product manager at Coinbase Global and two other individuals have been charged with wire fraud, according to US authorities in Manhattan on Thursday.


The bitcoin exchange's product manager Ishan Wahi and his brother Nikhil Wahi were taken into custody on Thursday in Seattle.


They are also accused of comparable US Securities and Exchange Commission civil violations together with a third defendant, their buddy Sameer Ramani. Ramani is untraceable.


Ishan Wahi, 32, is "innocent of any crime and wants to firmly defend himself," according to a statement from his attorneys. Requests for feedback from Nikhil Wahi's legal counsel were not immediately fulfilled. A lawyer representing Ramani was not immediately available to Reuters.


Ishan Wahi, according to the prosecution, divulged secret information on upcoming announcements of new digital assets that Coinbase will let customers to trade on its platform.


They said that after being called in for a meeting by a Coinbase security director, Ishan Wahi purchased a one-way ticket to India. According to authorities, law enforcement prevented him from boarding the aircraft on May 16.


Ishan Wahi's bail was set at $1 million and he was told to turn in his passports during his first court appearance in Seattle federal court. Despite his apparent effort to elude capture, the prosecution did not request that he be held. On August 2, he will make his next court appearance in Manhattan.


Nikhil Wahi, 26, and Ramani, 33, are accused of buying and selling at least 25 crypto assets for a profit in the associated civil accusations, nine of which the SEC claims it has recognized as securities.


The SEC refused to comment on whether it would take legal action against Coinbase for listing the coins described in the complaint as securities, stating only that its investigation was still underway.


Prosecutors claim that Wahi and Ramani bought the assets using ethereum blockchain wallets and traded at least 14 times before Coinbase made its disclosures in June 2021 and April 2022, making at least $1.5 million in illegal profits.


Whether it happens on Wall Street or the blockchain, fraud is fraud, according to U.S. Attorney for Manhattan Damian Williams.


The business disclosed information from the internal investigation into the transaction with authorities, according to Philip Martin, chief security officer at Coinbase.


Martin said on Twitter, "We are dedicated to doing our share to guarantee that all market participants have access to the same information.


Coinbase admitted in a blog post that Ishan, Nikhil Wahi, and Ramani had all been charged individually by the SEC with securities fraud, but pointed out that federal prosecutors had not brought such a complaint.


The blog post said that "no assets posted on our site are securities, and the SEC allegations are a regrettable diversion from today's appropriate law enforcement action."


Federal prosecutors in Manhattan accused a former product manager with insider trading last month in what they said was the first such case involving digital assets. OpenSea is the biggest online marketplace for non-fungible tokens.

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