tl;dr
Coinbase has responded to the CFTC's Notice of Proposed Rulemaking, urging the commission to withdraw the proposal due to concerns about its content and analytical approach. Chief Legal Officer Paul Grewal highlighted inconsistencies in the CFTC's definition of "gaming," emphasizing that contracts l...
Coinbase has responded to the CFTC's Notice of Proposed Rulemaking, urging the commission to withdraw the proposal due to concerns about its content and analytical approach. Chief Legal Officer Paul Grewal highlighted inconsistencies in the CFTC's definition of "gaming," emphasizing that contracts like Nobel Prizes and Oscars should not be considered gaming. The letter argued that the proposal failed to differentiate between market speculation and actual gambling, using examples like elections and professional awards, which could be misleading.
Coinbase, a major cryptocurrency exchange in the United States, has responded to the Commodity Futures Trading Commission's (CFTC) Notice of Proposed Rulemaking issued in May 2024. The company has called on regulators to withdraw the proposal, citing major concerns about its content and analytical approach. Providing key insights on Coinbase’s letter dated August 8, 2024, Chief Legal Officer Paul Grewal shared a series of threads on the X platform.
As a critical and primary concern, Grewal pointed out the inconsistencies in the definition of “gaming” in CFTC’s proposal. While CFTC included contracts like Nobel Prizes and Oscars in their narrative, Grewal proclaimed that they are by no means gaming. In its letter, Coinbase asserted that the CFTC failed to differentiate between market speculation and actual gambling in the proposal. The letter further argued that few would consider events like elections or professional awards, such as the Nobel Prize or Academy Awards, as games, yet these were the very examples used to define “gaming” in the proposal.
For context, the US CFTC had previously proposed a clear rejection of event contracts or prediction market trading. While the proposal defined gaming as betting on the outcomes of political contests, awards, or athletic events, it received support from three Democratic commissioners. Further challenging the CFTC’s claims of acting upon “public interest,” the Coinbase lawyer argued that the CFTC’s categorization of contracts is not beneficial to the public.
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Cboe Global Markets Inc Summary
Cboe Global Markets is an American company that owns the Chicago Board Options Exchange and the stock exchange operator BATS Global Markets.
Industry: FINANCE, SECURITY & COMMODITY BROKERS, DEALERS, EXCHANGES & SERVICES
Stock Code: 21012601000
Current Price: $27.78
Day's Range: $2.20 - $7.23
52-Week Range: $36.07
Market Cap: $0.202B
Volume: 3,808,700,000
EPS: $199.08
P/E Ratio: -0.153
Dividend Yield: 0.073
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Technical Analysis: Navigating the Stock Market with Data
As a Technical Analyst with over 25 years of experience, my approach is fundamentally data-driven, focusing on market charts, trends, and technical indicators such as moving averages, RSI, and Bollinger Bands.
I demystify technical jargon to provide clear, actionable insights, navigating the delicate balance between optimism and caution in market predictions.
My work empowers readers to make informed decisions in the stock market, offering a lens through which to interpret its ebb and flow.
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IRSA Inversiones Y Representaciones,IRSA Inversiones y Representaciones Sociedad Anima is dedicated to diversified real estate activity in Argentina.
Industry: REAL ESTATE & CONSTRUCTION
Sector: LAND SUBDIVIDERS & DEVELOPERS (NO CEMETERIES)
NAICS: 942290000
Dividend Yield: None
Price: 88.47
Change: -2.28
Market Cap: 1607.04
EPS: -1.37
Volume: 119723999000
P/E Ratio: 10.5
Beta: -0.45
Volatility: -0.067