OSC Withdraws Charges Against CannTrust Officials Following Inaccurate Witness Testimony
The Ontario Securities Commission withdrew its case against three CannTrust officials initially charged with securities offences including fraud, after a major witness conceded they made incorrect statements in their testimony. In an Ontario provincial court on Wednesday, OSC’s lawyer said the regulator won’t proceed with its case against former CannTrust CEO Peter Aceto, former chairman […]
Pond Technologies Announces that AB Agri has Begun to Grow Algae Following Delivery of New System
This morning Pond Technologies (TSX.V:POND) updated shareholders on their agreement with AB Agri, a subsidiary of Associated British Foods (LSE:ABF), reporting the installation of an algae lab, along with algae bioreactors on the Livalta Sugar Plant in Wissington, UK. The 60 liter bioreactors and controls were built at Pond’s Canadian headquarters in Markham, Ontario, and […]
Moderna and Merck & Co: mRNA Cancer Vaccine Shows “Highly Encouraging Results,” Shares Rise
On Tuesday, Moderna (NASDAQ: MRNA) announced that their personalized cancer-vaccine program was successful in a midstage study of skin-cancer patients. The results indicate that the biotech company’s messenger RNA (mRNA) technology has the potential to be a game changer in the field beyond just COVID-19 vaccines. Shares were up 21% by midday on Tuesday. “Today’s […]
Fox Hill Prison: Here’s Where Sam Bankman-Fried Will Be Held Until At Least February 8
Disgraced former FTX CEO Sam Bankman-Fried has been remanded to the Bahamas Department of Correctional Services and will be staying in the country’s only prison, a facility known as Fox Hill. Bankman-Fried, expecting to obtain bail, did not waive a hearing on his extradition to the United States where he is facing federal criminal charges […]
CFTC: Sam Bankman-Fried Designed Alameda With Unlimited Credit Line To FTX Deposits
At one point, FTX reallocated Alameda’s approximately $8 billion in liabilities to a customer account that the former FTX chief would later refer to as “our Korean friend’s account.” US Commodity Futures Trading Commission joined the growing list of authorities going after the former FTX chief Sam Bankman-Fried related to the scheme he allegedly ran […]
India Wins As Companies Move Their Supply Chains Out Of China
For India, the nation poised to become the world’s third-largest economy by 2027, things just keep getting better. The lessons from and long-term effects of China’s relentless Covid restrictions (the real long Covid), as well as the geopolitical risks of trade reliance on the autocratic nation are pushing major companies to move their supply chains […]
‘Trumpism Without Trump’: New Poll Shows Republicans Are Ditching Trump For DeSantis
“There’s a new Republican sheriff in town,” said David Paleologos, director of the Suffolk University Political Research Center, as they revealed the results of a Suffolk University/USA Today poll and found that most Republican-leaning voters would prefer Florida’s governor, Ron DeSantis, over Donald Trump as their 2024 presidential nominee. 53% of conservative voters picked DeSantis, […]
Caroline Ellison Hires Ex-SEC Director As Legal Battle With Sam Bankman-Fried Looms
The former workmates, reported ex-romantic partners, and now, distant crypto chiefs are likely to converge in a court battle–adding a potential plot twist to the FTX contagion. In the previous episode, this column covered how former Alameda Research CEO Caroline Ellison was recently spotted at the Ground Support Coffee on West Broad in SoHo Manhattan, […]
SEC Charges Zack Morris, 7 Others In “Pump-And-Dump” Gang For $100-Million Stock Manipulation Scheme
The Securities and Exchange Commission filed charges of fraud on Tuesday with the Southern District Court of Texas against eight social media personalities led by Zack Morris for numerous counts of classic pump-and-dump scheme. The regulatory body said that the group used their online platforms to rally behind a publicly listed stock to raise its […]
Geely’s Electric Car Brand Zeekr Reportedly Filed For US IPO
Zeekr, a premium electric car brand owned by China’s Geely, announced Tuesday that it has filed for a U.S. initial public offering. If approved, it will be the country’s first significant Chinese listing in nearly two years, following China’s effective embargo on foreign IPOs. Zeekr filed with regulators last week but did not reveal any […]