President Trump began his Wednesday with some advice for those rattled by his steep tariffs. “BE COOL,” Mr. Trump told his followers on social media after the markets opened. Just a couple of minutes later he wrote, “THIS IS A GREAT TIME TO BUY!!!” Hours after that, Mr. Trump sent the markets soaring when he…
Trevor Milton, who was convicted by a federal jury in 2022 of defrauding investors in the electric truck maker Nikola, has received a pardon from President Trump, the White House confirmed. Mr. Milton, who founded and is the former chief executive of Nikola, was sentenced to four years in prison and fined $1 million after…
The Securities and Exchange Commission said on Thursday that so-called memecoins — novelty digital assets — are not subject to regulatory oversight because they are not considered securities. The determination could have big ramifications for the crypto industry and President Trump, who issued his own memecoin days before his inauguration. The S.E.C.’s policy on memecoins…
Nikola, an electric vehicle start-up that had once hoped to become the Tesla of heavy trucks, filed for bankruptcy protection on Wednesday. Founded in 2015, Nikola promised to develop long-haul semi trucks powered by hydrogen and electricity, and listed itself on the stock exchange in 2020 before it had sold a single vehicle. Its share…
Vanguard, the large mutual fund company, has agreed to pay $106 million in restitution to settle a securities regulatory investigation into whether the firm misled retail investors about the tax implications of changes in some of its retirement funds. The Securities and Exchange Commission announced the settlement on Friday along with a flurry of other…
Robinhood was hit with $45 million in fresh fines from the Securities and Exchange Commission on Monday, the latest reprimand that the crypto-favorite brokerage has received from regulators. The violations laid out by the S.E.C. stretched from 2019 to 2023 and included a failure to protect sensitive customer data, employee use of encrypted messaging applications…
Theodore Farnsworth, the former chief executive of the parent company of MoviePass, pleaded guilty to securities fraud on Tuesday after federal prosecutors said he had misled investors about the company’s “unlimited” subscription plan. Mr. Farnsworth, 62, of Miami, also pleaded guilty in the Southern District of Florida to conspiracy to commit securities fraud as the…