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Financial daily dose 8.4.2021 | Top story: SEC chief announces agency’s crypto crackdown | Robin’s Chaplain LLP

SEC chief Gary Gensler announced this week that his commission will use its “existing authority” to “regulate the cryptocurrency markets as much as possible” to combat the “fraud, fraud and abuse” that the asset class has indicates. Gensler also urged Congress to “give the agency more room and resources to oversee the sector” – WSJ and Bloomberg and Law360

PepsiCo is spinning off its Tropicana and Naked Juice brands as part of a $ 3.3 billion deal with PE company PAI Partners. The soft drink conglomerate will “retain 39% of the shares in the new joint venture” – WSJ and Bloomberg and Marketplace

The US airlines Spirit and American canceled “hundreds of flights” this week, “after several days of interruption” pointing to storms in Dallas (and “operational challenges,” which industry experts responded to growing traveler demand and still understaffed Return employees) attributed to airlines – NYTimes and WSJ and Bloomberg

After months of zealous avoidance of the topic (in the hope that it would take care of itself?) Others, like Walmart and Uber, only extend mandates to employees – they create a “separation between employees who work in offices and employees who who deal directly with the public and have generally been reluctant to get shot ”- New York Times

After a series of massive worker protests, the president of Activision Blizzard’s Blizzard Entertainment studio resigns (along with his HR director) as the video game maker “grapples with the aftermath of allegations of harassment and discrimination in the workplace.” The protests arose out of a July 20 lawsuit filed by California AG over the alleged “Frat Boy Workplace Culture” in the company – NYTimes and WSJ and Law360

Tencent and other video game-related rivals are the latest Chinese companies to suffer from Beijing’s broader regulatory crackdown – this time with a focus on gaming as “opium for the mind,” as a state-run newspaper put it – that has already led Tencent to pledge To “introduce stricter restrictions for younger users” – WSJ and Bloomberg

Don’t call it a comeback (yet), but after fueling its debut last week, Robinhood’s stock rose Tuesday, slightly beating the $ 38 / share offer price – WSJ

“Keep the Flame Burning” at America’s oldest family-owned and operated Chinese restaurant in Butte, MT – NYTimes

Stay safe and let yourself be seduced

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