Bitcoin now classed as a commodity in the US

  • Bitcoin will now be classed as a commodity in the U.S. along with gold and oil, according to the Commodity Futures Trading Commission (CFTC), which has started to clamp down on unregistered firms that trade derivatives of the cryptocurrency.
  • The CFTC stated Thursday that it had ordered bitcoin options trading platform Coinflip, and its CEO Francisco Riordan, to cease trading due to it not registering and complying with its regulations.
  • It added that it had also filed, and simultaneously settled, charges against the San Francisco-based firm.
  • This might mean a nervous couple of months for other unregistered bitcoin derivatives firms in the U.S. but also signaled that the cryptocurrency will now come under the CFTC’s scope.

Bitcoin will now be classed as a commodity in the U.S. along with gold and oil, according to the CFTC.
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The Big Wall Street banks got shut out of the Tesla-SolarCity deal

  • Another week, another big tech deal that shut out Wall Street’s top banks.
  • But for the big Wall Street banks that helped coordinate and lead IPOs for both Musk companies, it must have stung.
  • But perhaps more importantly for Wall Street, big banks again got shut out of a major tech deal, and that may be a source of increasing concern among big banks that are facing serious margin pressure this year.
  • Tesla-SolarCity deal shuts out Wall Street’s big banks
  • For the second time in two weeks, Paul J. Taubman’s boutique wound up advising Verizon on a big deal.

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@CNBC: “The Big Wall Street banks got shut out of the Tesla-SolarCity deal”


Another week, another big tech deal where Wall Street’s top institutions didn’t get a piece of the action.


The Big Wall Street banks got shut out of the Tesla-SolarCity deal