Bitcoin and other cryptocurrencies have increased in popularity since Bitcoin was released in 2009, yet the cryptocurrency market remains unpredictable and volatile. Apps like Robinhood and influential people like Elon Musk have sky-rocketed the accessibility and demand for cryptocurrency in recent months. (Browne, CNBC). In a swing that paralleled the GameStop buying frenzy, a cryptocurrency called “Dogecoin” spiked as much as 800% in a single day. (Id.). Following the influx of Dogecoin buyers, Robinhood temporarily halted instant buying power for crypto to restrict trading. (Id.). Robinhood’s decision to restrict trading was contentious, but the decision exposed a major regulatory gap in both the public and private sectors of cryptocurrency trading.
Read MoreCartica Management LLC (“Cartica”) is a Washington D.C.-based investment firm that is thriving at global investing while utilizing a trending activist approach. Cartica utilizes an environmental, social, and governance (“ESG”) investment approach, which has become increasingly popular in 2020. (Kim, Bloomberg). In addition to seeking socially responsible opportunities, ESG investing has proven to be a lucrative method as 88% of indexes utilizing this sustainable method did better than their non-sustainable counterparts during the first quarter of 2020. Id. Companies, such as Cartica, are demonstrating that social progress and financial gain can coexist.
Read MoreThe ongoing pandemic has negatively impacted the global market in nearly every sector and has led many companies to file for bankruptcy. For example, Hertz Global Holdings Inc. thrived as a car-rental company before the pandemic broke out but now is on the verge of bankruptcy. (Brickley, Wall Street Journal). Despite filing for Chapter 11 bankruptcy in May, Hertz intends to hand out $14.6 million in bonuses to executives after having already paid out $16.2 million in a similar fashion. Id. This type of “retention” bonus was rare before the economy recently turned downward, but a spike in these bonuses could lead to an influx of novel bankruptcy claims from creditors. Id.
Read MoreAs the COVID-19 pandemic continues, employers are among the many groups of people facing new challenges. Against the Equal Employment Opportunity Commission’s (“EEOC”) discouragement, many employers have utilized antibody testing to avoid liability as their employees return to work. (Mulvaney, Bloomberg). The EEOC and several other agencies state that antibody testing might have an unintended discriminatory impact on several groups of employees. (Mulvaney, Bloomberg). These concerns raise issues that employers need to consider in the midst of today’s volatile work world: is antibody testing a satisfactory way to screen employees before allowing them into a workplace? If not, how should employers provide a safe workplace?
Read MoreTraditional law firms are synonymous with mountains of paperwork. TV shows and movies regularly depict lawyers behind their paper-filled desk in a room that is full of file cabinets. And what can viewers assume is in the cabinets? That’s right, more paper. This is one of the few aspects of law that Hollywood accurately represents: the legal community uses a lot of paper. However, advances in blockchain technology are permeating legal atmospheres and reducing the high demand for paper. This emerging technology is continually increasing the efficiency in legal proceedings. (Frost, Bloomberg)
Read MoreBudweiser Brewing Co. APAC Ltd. (“Budweiser Asia”), made an impressive entrance into the Hong Kong market last week. Budweiser Asia, a unit of Anheuser-Busch InBev (“AB InBev”), debuted in the new market on September 30, 2019, raising $5 billion for the world’s largest brewer in this share sale. (Wang, Wall Street Journal) Budweiser Asia’s performance claims the second-largest initial public offering in the world this year, trailing Uber Technologies Inc., who raised $8.1 billion and listed on the New York Stock Exchange. (Wang, Wall Street Journal)
Read More