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DJ News Highlights: Top Financial Services News of the Day

· 02/08/2021 00:00
SoftBank-Backed Greensill Delays FundraisingRobinhood's Reckoning: Facing Life After GameStopGPB Capital CEO Gentile Steps Down After Fraud ChargesVenmo's Debt-Collection Practices Probed by CFPBEx-Cred Executive Must Return Bankrupt Firm's BitcoinGameStop Trader 'Roaring Kitty' May Face Regulatory ScrutinyMusk's Dogecoin Tweeting Has Believers Barking for MoreA Look at Some of History's Spectacular CrashesGameStop Frenzy Is Tough Call for RegulatorsElliott Management Explores Raising a SPAC

The hedge fund is looking to raise more than $1 billion for the vehicle.

A core principle of market regulation is transparency-give investors information and let them decide. The GameStop drama was nothing if not transparent.

If GameStop is a bubble, it's hardly the first. From tulips to Beanie Babies, bubbles have boosted-and burned-investors for centuries.

A cryptocurrency that began in 2013 as a joke is suddenly worth a total of more than $6 billion.

Keith Gill, who became one face of the GameStop mania and also worked until last week as a broker, may face legal jeopardy for potential violations of federal rules governing brokers' communications.

A former Cred executive was ordered to turn over millions of dollars of cash and bitcoins that the bankrupt cryptocurrency platform and its creditors said belong to the business.

The payment app's tactics-including threatening to send debt collectors after customers who are scam victims-have previously come under scrutiny.

David Gentile, founder and chief executive of GPB Capital Holdings, stepped down as CEO Friday a day after he was arrested and charged with criminal fraud and conspiracy by the Justice Department.

The firm that set out to bring investing to the masses has run into the reality of Wall Street, with its tangle of regulations, overseers and byzantine infrastructure.

The supply-chain finance company says it needs money to expand, but it has also faced several client defaults.

(END) Dow Jones Newswires

February 08, 2021 00:00 ET (05:00 GMT)

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