Home Blog Page 195

Mark Cuban reveals the move he says can spread wealth faster

0
Mark Cuban reveals the move he says can spread wealth faster


Billionaire Mark Cuban reveals how the nation’s wealthiest can send the elevator back down and help Americans at every income level build wealth. 

In a recent interview with Sarah McCammon on the “What It Takes” podcast, Cuban shared his views on AI, healthcare, and income inequality in America. The former “Shark Tank” investor, who, according to the Bloomberg Billionaire Index, has a net worth of $10.2 billion, said that one of the best ways to tackle income inequality is to give employees company stock. 

“I would like to see it so that every single CEO/founder/entrepreneur does what I did, which was to give equity to every single employee,” said Cuban. “Every company I’ve ever sold, I’ve given money to every single employee. Every time.” 

Read more: How much money is considered rich?

Cuban got his start in the tech space as the founder of the computer consulting company MicroSolutions and co-founder of Broadcast.com, a pioneer in internet radio and streaming. He later sold both companies and turned to other ventures, which have included a long-running role on “Shark Tank,” ownership stakes in professional sports franchises, film and TV distribution companies, investments in technology companies, healthcare companies, consumer products, and more. 

In keeping with his stance on giving back, Cuban says he paid out bonuses to every employee after each company sale. According to Cuban, the sale of Broadcast.com turned 300 of his employees into millionaires. 

“So if the CEO gets $100,000 worth of stock because they make $1 million in cash, and the janitor makes $50,000, then they deserve the same percentage in stock, and that will change the game,” Cuban said.

He also touched on Elon Musk as a real-life example of what can happen when CEOs give employees a stake in the companies they work for. 

“If you own stock in SpaceX, I think Elon created 4,000 millionaires when they went public, and he gives everybody shares of stock in his companies,” Cuban said. “So, if you work at Tesla, if you work at SpaceX, when those stocks go up, your net worth goes up.”

Read more: How billionaires get away with paying less income tax

According to Morgan Stanley’s “At Work’s 2026 annual State of Workplace Financial Benefits” study, just 37% of employees work at companies that offer equity, even though 75% of employees and 85% of human resources leaders view equity compensation as an effective motivator.

For CEOs, giving employees a direct stake in the company they work for can not only help them fund their long-term goals, but it can also incentivize them to work harder because the company’s success is directly linked to their financial future, according to Cuban. 

Employees surveyed by Morgan Stanley also said another advantage of equity compensation was its potential to help boost their long-term investing goals, such as retirement.

Cuban says CEOs can also be incentivized to offer this kind of perk with tax breaks so that every employee can be put on a path to build wealth and close the gap. 

“Nobody wants to see civil unrest,” Cuban said. “Nobody wants to see people who can’t live their lives, you know, and pay for food or pay for housing or pay for transportation or afford their gas. That is not what this country should be all about.”

Read more: Most millionaires don’t consider themselves wealthy. So what does it really mean to be rich?



Source link

Amazon Prime FTC Settlement: How to Check Eligibility and File Claim

0
Amazon Prime FTC Settlement: How to Check Eligibility and File Claim


Amazon is required to pay out $1.5 billion to affected customers as part of its FTC settlement — and you have less than a week left to claim your share.

The Federal Trade Commission sued Amazon in 2023, accusing the company of enrolling customers in Amazon Prime without their knowledge or consent and making it difficult for them to cancel.

Amazon settled with the FTC last year, agreeing to pay out a large sum to customers and a $1 billion civil penalty, for a total of $2.5 billion.

The settlement followed a Business Insider investigation that revealed Amazon Prime’s sign-up tactics could be misleading.

Amazon issued automatic refunds to some eligible customers between November and December 2025. Additional eligible customers have until July 27, 2026, to request a refund.

Here’s what you need to know about getting the payout.

How much is the Amazon Prime settlement payment?

Affected customers can receive a refund for Amazon Prime subscription fees, up to $51.

Who is eligible to file a compensation claim from Amazon Prime?

You are eligible to file a claim for the Amazon Prime lawsuit payout if you did not already receive an automatic refund and meet the following criteria:

  1. You signed up for Amazon Prime in the US.
  2. You unintentionally enrolled in Prime through one of the sign-up processes challenged by the FTC between June 23, 2019, and June 23, 2025 (Amazon will use its records to determine whether you enrolled through an eligible process, referred to as a “challenged enrollment flow“); or you tried and failed to cancel through the online cancellation process during the same time period.
  3. You used fewer than 10 Prime benefits, such as shopping, delivery, and streaming, during a one-year period of having Prime.

How do I claim the refund from Amazon Prime?

You can file a claim by visiting the official website and clicking “File Claim.”

If you received a mailed or emailed notice from Amazon, you should provide the Claim ID and PIN that you were assigned.

If you did not receive a notice but believe you are eligible for a refund, you can still submit a claim by providing your personal details and explaining how you believe you are eligible: either if you unintentionally enrolled in Prime or unsuccessfully tried to cancel during the relevant time period. Amazon says it will use its records to confirm if you meet the eligibility criteria.

How and when will I be paid?

Amazon has 30 days to review claims after they are received. All payments are to be issued by September 2026.

Payments will be made by PayPal, Venmo, or mailed checks, depending on the customer’s preference given when submitting the claim.





Source link

Binance captures 38.7% of CEX spot volume as Bybit overtakes MEXC

0
Binance captures 38.7% of CEX spot volume as Bybit overtakes MEXC


Binance widened its lead over rival centralized exchanges in the second quarter of 2026. It captured 38.7% of spot trading volume despite an overall decline in market activity, according to CoinGecko.

The report showed that while spot trading volumes across the top 10 exchanges fell 27.9% quarter-over-quarter, Binance increased its market share as Bybit overtook MEXC to become the second-largest exchange by spot volume.

Separately, on Wednesday, July 22, cryptocurrency exchange MEXC announced the appointment of its new Chief Compliance Officer, Robert Macdonald.

He was formerly the Chief Legal and Compliance Officer at Bybit from 2024.

During his time at Bybit, he oversaw the implementation of know your customer [KYC] and anti-money laundering [AML] frameworks, and also directed the exchange’s global licensing strategy and corporate legal operations.

He has also held senior roles at Standard Chartered and Binance, focused on regulatory strategy, compliance transformation, and governance.

Binance still leads spot trading volume on centralized exchanges

A CoinGecko report in July noted statistics for Q2 2026, and a disappointing 27.9% decrease in trading volume compared to Q1 of the year. The figures were $1.95 trillion and $2.70 trillion, respectively.

CoinGecko 2026 Q2 Volume
Source: CoinGecko Reports

This trading volume is the cumulative figure for the top 10 centralized exchanges’ [CEXs] spot volumes. In terms of monthly volume, May saw a dip to $619 billion across these exchanges, before rebounding to $695 billion in June.

The volume decline can be attributed to bear market conditions. Interestingly, Binance extended its lead over other exchanges. It has a 38.7% market share in Q2, while Bybit displaced MEXC as the second-biggest exchange by volume, but had only a 10.0% share.

MEXC saw a 56% decline, from $275.2 billion to $121.2 billion, which saw the exchange tumble to 7th rank.

Major BNB Chain milestones boost Binance’s top dog claim

Tokenized stocks issued by Binance are growing bigger, AMBCrypto reported. Token Terminal data showed that Binance-issued tokenized stocks added the most capital over the past month.

Through Stove Protocol, more tokenized Hong Kong equities went live on the BNB Chain, and this would result in further growth in trading volume.

Crypto analyst Ali Martinez wrote in a post on X that centralized exchanges and TradFi systems were converging. The former were expanding into equities, commodities, and tokenized funds, while the latter were gradually adopting blockchain technology.

Real-world assets were increasingly being traded on-chain, and CEXes were becoming more than just trading venues for digital assets.


Final Summary

  • Binance extended its lead as the top centralized exchange by volume from Q1 2026, with a 38.7% share of spot volume in Q2.
  • CEXs have advantages, such as 24/7 operation, near-instant settlement times, global distribution, and relatively low execution costs compared to TradFi marketplaces.

 



Source link

Senator Lummis: Ethics, other provisions in crypto Clarity Act to be further discussed

0
Senator Lummis: Ethics, other provisions in crypto Clarity Act to be further discussed

A group of Democrat Senators said in a statement late Wednesday that the bill still fell “short” of where it needed to be to get their support, but that they would keep working on it with Republicans. Senator Elizabeth Warren, the top Democrat on the Senate Banking Committee, argued Wednesday that the policy as written would let Trump continue his crypto businesses largely untouched, and any improper activity would be ignored by his loyal Department of Justice and then legally fenced off from prosecution once he leaves office.

Other outstanding issues

Beyond ethics, lawmakers may continue to negotiate over illicit finance provisions, Lummis said.

“We think we’ve landed in a good place,” she said, because the effort addresses the Bank Secrecy Act, money-laundering protections, sanction coverage for exchanges and decentralized finance (DeFi).

Some of the new additions were made at the request of law enforcement, such as a provision addressing crypto automated teller machine (ATM) fraud.

There is also a safe harbor for crypto platforms to freeze funds if they suspect the assets are tied to suspicious transactions, particularly if those companies are cooperating with law enforcement, she said.

The text also includes a provision saying it is the “sense of Congress” that at least two of the commissioners on the Securities and Exchange Commission and Commodity Futures Trading Commission would be nominated in consultation with the minority party. Right now, neither agency has any Democratic commissioners, with the SEC helmed by three Republicans, while the CFTC just has a single commissioner running the agency.



Source link

Silicon Motion Technology (SIMO) Jumped on Beating Expectations

0
Silicon Motion Technology (SIMO) Jumped on Beating Expectations


Fred Alger Management, an investment management company, released its “Alger Weatherbie Specialized Growth Fund” second-quarter 2026 investor letter. A copy of the letter can be downloaded here. U.S. equities experienced a strong recovery in Q2 2026, with the S&P 500 Index gaining 15.2%, marking its best quarter since 2020. A ceasefire between the United States and Iran and accelerated investment in artificial intelligence (AI) regained market optimism in the quarter, leading the Information Technology and Industrials sectors upward, and Energy and Utilities lagged because of falling oil and gas prices. In June, the Federal Reserve maintained steady interest rates, but the meeting had a hawkish tone. As AI transitions into its agentic phase, opportunities are identified within sectors adopting the technology. The Weatherbie Specialized Growth Fund’s Class A shares outperformed the Russell 2500 Growth Index in the quarter. The Industrials and Information Technology sectors contributed to the relative performance, whereas Financials and Consumer Discretionary sectors detracted. In addition, please check the Fund’s top five holdings to know its best picks in 2026.

In its Q2 2026 investor letter, Alger Weatherbie Specialized Growth Fund highlighted Silicon Motion Technology Corporation (NASDAQ:SIMO) as a notable contributor. Silicon Motion Technology Corporation (NASDAQ:SIMO) is a leading provider of NAND flash controllers for solid-state drivers and related devices. On July 20, 2026, Silicon Motion Technology Corporation (NASDAQ:SIMO) closed at $252.61 per share, reflecting a market capitalization of $8.57 billion. Silicon Motion Technology Corporation (NASDAQ:SIMO) posted a one-month return of -15.48%, while its shares gained 251.53% over the past 52 weeks.

Alger Weatherbie Specialized Growth Fund stated the following regarding Silicon Motion Technology Corporation (NASDAQ:SIMO) in its Q2 2026 investor update:

“Silicon Motion Technology Corporation (NASDAQ:SIMO) develops and supplies semiconductor products used across the electronics market, including flash controllers and storage solutions for solid-state drives, smartphones, data center applications, and other connected devices. The company holds a strong position in NAND flash controllers and continues to benefit from demand for higher performance storage as devices and infrastructure require faster, more efficient data management. We believe the company’s share gains across end markets, including data center applications tied to AI-related workloads, reflect continued demand for its storage solutions and a strengthening competitive position. During the quarter, shares contributed positively to performance after the company delivered strong operating results that exceeded expectations, supported by accelerating revenue growth, solid profitability, and disciplined expense management. Investor sentiment was further supported by an improved management outlook, reinforcing confidence in the company’s growth trajectory.”

Micron Reportedly Planning ¥1.5 Trillion HBM Fab in Hiroshima Amid Rising AI Demand

Silicon Motion Technology Corporation (NASDAQ:SIMO) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 40 hedge fund portfolios held Silicon Motion Technology Corporation (NASDAQ:SIMO) at the end of the first quarter, up from 37 in the previous quarter. While we acknowledge the potential of Silicon Motion Technology Corporation (NASDAQ:SIMO) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

In another article, we covered Silicon Motion Technology Corporation (NASDAQ:SIMO) and shared a bullish thesis on the company. In addition, please check out our hedge fund investor letters Q2 2026 page for more investor letters from hedge funds and other leading investors.

READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years.

Disclosure: None. This article is originally published at Insider Monkey.



Source link

Key Democratic lawmakers say crypto Clarity Act ‘falls short’ on ethics, other issues

0
Key Democratic lawmakers say crypto Clarity Act 'falls short' on ethics, other issues

Senate Republicans published a new draft of the Clarity Act earlier Wednesday, including an ethics provision that the White House and President Donald Trump agreed to.

Senator Bernie Moreno, one of the lead Republicans on the bill, said in a post on X (formerly Twitter) earlier Wednesday that it was “the most powerful ethics language in U.S. history.”

“Don’t listen to the DC Democrat lies,” his post said.

The ethics provision has been an outstanding issue for over a year, stretching back to the Senate’s work on the stablecoin-focused Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act last year, but the issue took on a renewed focus in recent weeks after Trump shared his latest financial disclosure showing he made over $1.4 billion from his crypto ventures in 2025.

It’s unclear when the bill may hit the Senate floor, though Republican Majority Leader John Thune’s office told CoinDesk that he’s still planning on moving forward in the coming days.

The Senate leaves town after August 7 for the summer recess, and the Senate has other issues to take up as well. It will need 60 votes to advance, meaning as many as 10 Democrats may need to vote for the bill. “We have been working in good faith with our Republican colleagues for the past year and will continue doing so to get this over the finish line,” the Democratic lawmakers said.



Source link

Why crypto market’s 12.6% Q2 drop could be just the beginning

0
Why crypto market's 12.6% Q2 drop could be just the beginning


The crypto market has remained bearish since the October 10 crash, despite brief recovery phases. For instance, at the start of 2026, the total market cap rallied and traded above the $3 trillion mark. However, as the second quarter unfolded, the market turned sharply lower.

April, though one of the year’s strongest months, also marked the beginning of the steep decline. Crypto hacks also peaked in April, contributing to the downtrend. Currently, the total market cap, volume traded, and market structure of Bitcoin [BTC] suggest further pain could be ahead.

Total market cap, spot volume, and stablecoin cap decline

As per CoinGecko, the total crypto market lost about 12.6% in capitalization, reaching around $2.1 trillion in the second quarter of the year (Q2). However, from a broader perspective, the cap was down more than 52% from its peak of over $4 trillion in October 2025.

On top of the capital lost, the total spot trading volume declined by 20.9% quarter-on-quarter (QoQ) to around $93.10 billion. June saw the highest single-day volume, but it was on the sell side, as the market cap dropped, from about $2.60 trillion to $2.10 trillion.

cryptobitcoin btc
Source: CoinGecko

Moreover, buying power and new investor exposure to crypto also declined. Usually, stablecoins are used to expose new investors to crypto as well as in buying and taking profit.

Therefore, the market cap of all stablecoins fell by 3% after losing over $5 billion, from over $189 billion to $184 billion. Notably, USDT took the biggest hit.

StablecoinsUSDTStablecoinsUSDT
Source: TradingView

As such, these data points suggest that further declines may be anticipated in crypto, now that even buying power is reducing.

Is Bitcoin market structure a reflection of what to expect?

Technically, Bitcoin market structure reinforced this prediction. BTC price has been forming lower highs since last October, breaking every trendline support formed.

With the new trend, it is more likely BTC would break the recent trendline. The effect would be to push the entire crypto market further down, as BTC sets the market sentiment for the whole sector.

BitcoinBTCBitcoinBTC
Source: BTC/USDT on TradingView

More signs of further decline were emerging when looking at other financial markets.

For instance, Korea’s KOSPI lost 5.24%, equivalent to $250 billion, from its day high. Additionally, a 2.4% drop in Japan’s Nikkei erased more than $210 billion.

However, these metrics do not guarantee further downside. Crypto and financial markets tend to reverse to the upside during periods of capitulation like these. Furthermore, the volume crunch indicates low volatility, which suggests a potential bullish reversal.


Final Summary

  • Total crypto market cap declined 12.6% in Q2, and volume sank 20.9% QoQ, while stablecoin cap declined by 3%. 
  • Bitcoin’s market structure alongside Asia’s stock market decline suggests a more bearish trend for crypto. 



Source link