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Section 899’s unintended consequences may trigger a pullback in foreign investment, raising concerns over cross-border capital flows and U.S. tax policy. #ForeignInvestment #TaxPolicy #GlobalMarkets okt.to/lO8gyI

Sen. Tim Scott says the Senate won’t take up the market structure bill until the fall, meaning it may miss Trump’s August deadline. Jason Brett reports unchainedcrypto.com/clarity-act-wi…

This is big.

Kalshi hits $2bn valuation with new funding round led by Paradigm, in latest sign that prediction markets are going mainstream; CEO says plans are in the works for Kalshi to integrate with over a dozen more brokerages, on top of Robinhood and Webull wsj.com/finance/predic…

Bank of New York Mellon said it now employs dozens of artificial intelligence-powered "digital employees" that have company logins and work alongside its human staff on.wsj.com/4l9zsd7

Trading in risky penny stocks is booming. Why it could be a sign of trouble ahead for the market. marketwatch.com/story/trading-… via MarketWatch

Investment firm Linqto helped pioneer a private stock trading avenue for the little guy. Now it’s facing federal investigations into its practices and a possible bankruptcy filing. on.wsj.com/44IYJVu

Don't disagree. Nice job Robin Wigglesworth and underlying your pt, both Lehman, Merrill, and for that matter Bear weren't banks at the time they cratered. And the Bear problems stemmed from their hedge funds, which really weren't banks.

Crypto ventures have added at least $620 million to Donald Trump’s fortune in the span of months, according to the Bloomberg Billionaires Index, which is valuing his family’s earnings from projects like World Liberty Financial and the Trump memecoin for the first time. via

Great podcast by Joe Weisenthal Tracy Alloway on Robinhood with CEO Vlad Tenev Talking about RH as well as tokenized equities and some new offerings youtube.com/watch?v=Ku9xUD…

That isn't true at all. The % of sub $1 is high (June avg=16.87%, May 18.34%, April 16.86%), but its not near 50%. Even if you look at sub $5, its 34.2, 33.2, & 29.9%; not near 50%. And value traded in sub $1 is only 0.12%. So its a problem, yes, but not 50%. You guys know this

The details of Jane Street’s alleged ‘sinister scheme’ in India on.ft.com/40CGcI7

India has banned Jane Street from the country’s financial markets and said it would seize around $570 million the securities firm made from allegedly fraudulent trades on.wsj.com/44xZ78b

It’s a strange new substance: soft wood transformed at the molecular level to be stronger than steel yet one-sixth the weight, writes Christopher @Mims. Its name? Superwood. on.wsj.com/4kFd3U5

This Jane St thing is big. It ~10% of their $20b in 2024 revenue. Is it true? Was it all market manipulation? How did they allow it? I can't remember any Jane bad PR. Next moves is critical. Jane Street’s Cash Machine Comes to an Abrupt Halt in India bloomberg.com/news/features/…?

They have had a pretty sterling reputation. Its hard to see them admitting to market manipulation. Matt Levine had a very good take on the other side of this today. Matt Levine's Money Stuff: The Indian Options Trade Was Too Good bloomberg.com/opinion/newsle…

Was talking the other day with folks about this. This will be a mess for a while - guilty or not, regulators and customers will need to regain trust.

I would love to agree with you but there are a few pretty folks in the weeds that would disagree. Now I have no f*ing clue, but know, if they did, or didn't, this isn't good for Jane St.

Not unexpected Enchanting, but Not Magical: A Statement on the Tokenization of Securities - Hester Peirce eg, if it looks like a duck and quacks like a duck..., its a duck sec.gov/newsroom/speec…

Tim Massad isn't wrong. Congress needs to put out a framework. What's a security (SEC reg), what's a commodity (CFTC reg), what's a banking product (deposit/mmf - Fed/OCC), and what falls in the middle & determine who (if anyone) oversees that & let regulators create/extend rules