The SEC has filed a lawsuit against Coinbase, alleging that the company acted as an unregistered crypto broker. Similarly, Binance has been accused by US regulators of operating an illegal exchange. Meanwhile, Dollar General's CEO has revealed that cash-strapped customers are turning to food banks for assistance. In other news, the CEO of Marlboro has stated that his goal is to make the company an ESG investment. Shaq has been served in the FTX lawsuit yet again, and Disney's struggles with Florida Governor DeSantis highlight the larger issues facing the company.
Sam Zell, a billionaire real estate investor, has passed away at the age of 81. Failed bank executives are pointing fingers everywhere except at themselves, while a former Silicon Valley Bank CEO has issued a public apology. Regional banks are crucial to America's financial stability, and the crisis has caused PacWest Bank shares to plummet as customers withdraw their deposits. Wall Street is still concerned about the state of the banking industry, and First Republic's reliance on wealthy clients has contributed to its pain. The Fed's autopsy on SVB has criticized both the bank's management and the regulator's oversight. Despite Governor DeSantis' tough talk, Disney remains firmly entrenched in Florida. Tucker Carlson's departure from Fox News is unlikely to change the network's overall direction. Several CEOs have recently made missteps in reading public sentiment, including one who was forced to apologize for a poorly received speech. Finally, after 25 years, Netflix is winding down its DVD business.
