SEC Crypto Clampdown
The U.S. Securities & Exchange Commission has suspended trading in three companies tied to cryptocurrency and blockchain technology: Cherubim Interests Inc., PDX Partners Inc., and Victura Construction Group Inc. The SEC cited delinquent filings and cautioned investors to be wary of companies trying to raise additional capital by launching an ICO or changing their company name to attract investors interested in blockchain or cryptocurrency technology.
This week, America once again mourns the lives of 17 victims of a shooting at Florida’s Marjory Stoneman Douglas High School. This is the 17th school shooting in the US since 2018 began, and the deadliest school shooting since Sandy Hook in 2012. The gunman, a 19-year-old former student who was expelled from Douglas earlier for disciplinary issues, obtained the gun legally. We at Rapunzl believe in not publicizing and spreading the name of the shooter. If you want to learn more about the shooter, you can do so here. America, which makes up less than 5% of the world’s population and owns between 35-50% of the world’s firearms, has long struggled with a gun violence epidemic, as political divide and special interest groups like the NRA continue to inhibit compromise in Washington.
SEC blocks China’s CSE bid
The US has blocked a proposed merger between the Chicago Stock Exchange and the Chinese-linked company, North America Casin Holdings Group. The deal was alleged to benefit the city of Chicago and the US economy as a whole by providing the exchange with “vital” capital. Authorities raised concerns over their ability to conduct sufficient oversight of the exchange after the deal, with some worried that a Chinese company owning a US stock exchange could pose a national security threat.