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OPEC payback: The 6 actions Biden could take
“There are a lot of alternatives and we haven’t made up our minds yet,” Biden told reporters Thursday. For now, the White House is pledging to work with Congress on a bill to allow the U.S. to sue oil cartels for antitrust violations, a step that lawmakers from both sides of the aisle have threatened before but which the Biden administration has been wary of taking. “This is really the first time we have a president who’s supporting it with a Congress that looks likely to support it as well,” said Kevin Book, managing director of ClearView Energy Partners, a research firm. “What was previously unthinkable is no longer unthinkable.” Senate Democrats are weighing action, too. “We are looking at all the legislative tools to best deal with this appalling and deeply cynical action,” Majority Le...
Get your money back: The weird world of crypto litigation
Want to sue a crypto project that ripped you off? That will be $1 million, thank you. Luckily, there are options for those who face the daunting prospect of spending a small yacht’s worth of money in lawyer fees for their chance at crypto justice. In practice, the majority of victims of international blockchain scams find themselves with little hope of recovering their money. According to crypto law expert Jason Corbett, a normal court case to recover $10 million–$20 million dollars in the blockchain sector can easily cost between $600,000 and $1 million, with an average timeline of 2.5 years. But there are a range of cheaper and better options to get a successful outcome — if you learn how to work with the system. Legal investment funds can finance your case for a share of the judgement —...
Executive Turntable: Sony Music Taps SVP of Strategy & Investments; L.A. Radio Legend Retires
Angela Lopes was promoted to senior vp of strategy and investments at Sony Music Entertainment as part of the company’s newly-announced combination of its corporate and digital investments, M&A and strategic planning teams. In the role, Lopes — who was previously senior vp of digital strategy & investments — will work with Sony Music’s executive leadership and global digital business teams to develop strategies and investing opportunities to support the company’s creative and financial growth. She will also focus on expanding Sony Music’s investments across development areas, including global streaming, artist services, the creator economy, social media, gaming, NFTs and the metaverse. The New York-based Thomas reports to COO Kevin Kelleher and president of global digital business ...
U2 in Talks With Azoffs for Management — But Deal’s Not Done
U2 are in discussion with Irving Azoff, Jeffrey Azoff and Brandon Creed’s Full Stop Management after splitting with manager Guy Oseary last week, according to sources with knowledge of the deal. The talks are ongoing and no final decision has been made by either side. The talks follow news that Azoff is now involved in booking the MSG Sphere at the Venetian, part of Azoff Company’s long-term consulting deal with MSG properties. U2 is scheduled to open the MSG Sphere at the Venetian in November 2023, which Billboard first reported in July. Oseary had managed U2 under the Live Nation-owned Maverick artist management collective for nearly a decade. In 2020, he left Live Nation but agreed to continue to provide consulting services to CEO Michael Rapino, whose company now has 450 a...
EU regulators ban cross-border payments from Russian crypto accounts
In a statement released on Oct. 6, the European Union introduced another set of sanctions against Russia due to the prolonged and recently escalated conflict in Ukraine. The new sanctions include a complete ban on cross-border crypto payments between Russians and the EU. This statement includes the prohibition of, “all crypto-asset wallets, accounts, or custody services, irrespective of the amount of the wallet.” New sanctions were installed as a response to Russia’s annexation of Ukrainian territory as the result of what the EU calls a “sham” referendum, along with troop mobilization and threats of nuclear escalation. The previous sanctions capped crypto payments from Russian to EU wallets at 10,000 euros (approximately $9,900). However, this new total ban on cross-border crypto...
‘Violent’ Bitcoin breakout due as BTC open interest nears all-time high
Bitcoin (BTC) stayed rangebound at the Oct. 6 Wall Street open with traders already planning for a “violent” breakout. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin whale activity highlights the importance of $19,000 Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it moved up and down by only a matter of a few hundred dollars on the day. The amount of $20,000 formed a focus for the pair, which meandered in step with consolidating U.S. equities and dollar strength. With no spot catalyst in sight on short timeframes, on-chain analytics resource Whalemap turned to largescale buy and sell points to sketch out likely support and resistance. To the downside, $19,174 marked the site of whale buy-ins, suggesting its continued strength as a line in the ...
Autumn bulls vs. winter bears — Will October be bullish or bearish for Bitcoin? Watch Market Talks
In this week’s episode of Market Talks, we welcome Rekt Capital, a cryptocurrency analyst who shares macro research, commentary and technical analysis related to crypto markets. He publishes a popular newsletter and provides courses that help educate traders on how to make informed decisions when buying and selling cryptocurrencies. He has more than 328,000 followers across his various social media platforms, many of whom are prominent individuals, including big names like Binance CEO Changpeng Zhao. First things first, we have officially entered Q4 2022 and, more importantly, October, which has historically been a bullish month for cryptocurrencies. We ask Rekt Capital if he thinks this trend is likely to continue or if we are headed toward more downside for Bitcoin (BTC). ...
Adam Lambert Returns to WMG With EastWest Records Deal
Singer-songwriter and Queen collaborator Adam Lambert has returned to the Warner Music fold, signing a global deal with EastWest Records ahead of new music. The American Idol runner-up’s first release under the deal, a cover of Noël Coward’s “Mad About The Boy” for a documentary about the witty playwright, arrives Friday (Oct. 7). According to the label, fans of Lambert can expect more music soon and a new album next year. Lambert’s first pairing with WMG — for flagship Warner Records — resulted in 2015’s The Original High, which peaked at No. 3 on the Billboard 200 chart. That album, his third studio effort, followed a successful run at Sony Music’s RCA, where he scored a No. 1 album for 2012’s Trespassing and top-3 finish for his debut, 2009’s For Your Entertainment. The singer and LGBTQ...
Death Row’s Blockchain Ambitions Take Shape As Snoop Dogg Manager Joins Gala Music Advisory Board
After buying Death Row Records and promising to make it an “NFT label” earlier this year, those metaverse ambitions are beginning to take shape through an exclusive partnership with Web3 platform Gala Music, where Snoop Dogg‘s manager for brand partnerships, Nick Adler, has joined the advisory board. The newly-created board is rounded out by Tupac’s former manager Leila Steinberg, as well as Grammy-nominated DJ and composer BT, and record label executive DJ EFN. The board will focus on bringing more superstar artists into Web3 and explore crossovers into film and gaming through Gala’s sister companies. “The creation of our advisory board is an exciting next step in Gala Music’s growth,” said Brandon Tatum, vp and global head of music business at Gala Music. “We look forward to leveraging t...
Nifty News: Yuga Labs launches BAYC council, Animoca backs Cool Cats and more
Yuga Labs has announced a new Bored Ape Yacht Club (BAYC) community council to help the project “grow and thrive.” The team revealed seven council members in an Oct. 5 blog post, noting that they are all OGs who have been around since the early days of the BAYC. Yuga Labs said it assembled a new community council made up of “Apes with a proven track record of proactively and positively contributing to the club since the start.” The members include beijingdou, SeraStargirl, TheMiamiApe, OxEthanDG, OxWave, negithenagi, peterjfang. “This council was formed with the intention of representing the club at large and providing an avenue for new perspectives,” Yuga Labs wrote. Yuga Labs stated that they will engage with the community and gather feedback for the firm, working with Yuga on community-...
It’s happened: Someone’s filed for Cramer ETFs with the SEC
Connecticut-based advisory firm Tuttle Capital Management has submitted a preliminary prospectus filing with the United States Securities and Exchange Commission (SEC) for two new exchange-traded funds (ETFs) centered around betting against the investment tips from Jim Cramer. Cramer is the host of CNBC’s Mad Money and has become a popular meme in the crypto and stock community, who believe he has an uncanny knack for giving investment tips that end up being way off the mark. In relation to crypto, one of Cramer’s most notable tips was to buy Coinbase stock when it was “cheap” at $248 in August last year. Since then, COIN has continued to collapse and sits at $72.97 at the time of writing. Finally happened: Cramer ETFs Inverse Cramer ETF $SJIMLong Cramer ETF $LJIMEff Dec 19 20-25 equal-wei...
How Crypto Twitter could change under Musk’s leadership
Barring another change of heart and certain conditions to be met, Elon Musk’s acquisition of Twitter looks set to go ahead, prompting the question of whether some or all of the changes he initially hinted for the platform will become a reality. The platform is a popular communication and news tool for crypto enthusiasts, users and investors, not to mention crypto scammers, with the social media platform seeing roughly 120,000 tweets per day about #Bitcoin alone, according to BitInfoCharts. Looking back at Musk’s initial commentary when he proposed a buyout of Twitter could shed some light on what changes he envisions for the platform. This includes a focus on free speech, eliminating spam bots, fake accounts, an edit function and possibly even crypto payments have all been considered...
