Financial Daily Dose 7.26.2021 | Top Story: Top Crypto Exchanges Limit Leverage to Curb Risk | Robins Kaplan LLP

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Two of the most famous cryptocurrency exchanges announced this weekend that they are taking steps to “contain a type of high-risk trade that has been blamed for the sharp fluctuations in Bitcoin value and the casino-like atmosphere on such platforms around the world. “FTX and Binance are cutting the leverage they offer to 20 times the existing limits of over 100, a move that aims to protect investors from the giant crashes that hit crypto markets in May – NYTimes and FinancialNews

Meanwhile, Bitcoin is starting the week – partly due to speculation about Amazon’s “potential plans for cryptocurrencies and related technologies after the company advertises a position for a digital currency and blockchain expert” – WSJ and Bloomberg and MarketWatch

The appointment of Jonathan Kanter as head of antitrust at the DOJ last week is the latest in a series of moves by the Biden administration that sparked a newfound federal “willingness to clash with American companies to encourage more competition in the technology industry and in of the entire economy ”signal – NYTimes

Striking workers from Frito Lay, Kansas, voted to ratify a new contract over the weekend, ending a nearly three-week strike over forced overtime and long hours that many plants said they had pushed past the point of exhaustion ”- NYTimesNY

Some early but increasingly relevant thoughts on what the emerging Delta variant could mean for corporate back-to-the-office schedules, masking requirements, and vaccination regulations – NYTimes and WSJ

In fact, the variant may give some workers extra ammunition to hold back management’s desire to get back to the office on their schedule – WSJ

A snapshot of the state of the markets during this weird mean Covid time: Try crashing on a Monday and the booking record ends just 4 days later (and for the Dow, that means it dwarfs 35k for the first time) – MarketWatch

As promised, another copy of How Robinhood’s Breaking All the IPO Rules ahead of the IPO this week – Bloomberg

Difficult news for GM’s electric ambitions as US automakers recalled the 2017-19 models of their all-electric Chevy Bolt for the second time, “because of a potential battery failure that could cause a fire, underscoring the engineering challenges automakers are facing face at their races ”. to develop more plug-in vehicles ”- WSJ

And when you talk about electrics, if you’re like me, you’ve noticed Toyota’s prominent absence from the electric car race and wondered how the Prius maker managed to get out of the game like that. It turns out the company has gone for hydrogen-powered vehicles as an environmentally friendly option and is now trying to keep up with electrics – NYTimes

Stamps.com has reached a $ 30 million settlement with investors to settle a derivatives lawsuit “on insider trading claims and allegations that the shipping company has been abusing US Postal Service’s postage resale rules for years” – Law360

On Friday, the FTC formally requested a three-week extension to resubmit its antitrust lawsuit against Facebook after District Judge James Boasberg dismissed charges the commission brought against social media giant – NYTimes a month ago

And here you thought you were a super fan. . . . Sure he’s a coach, but still – good luck holding a candle to Dean Boxall – Mashable

Stay safe and let yourself be seduced
MDR