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Donald Trump’s Treasury Nominee Made Big Bets this Year on Chinese Stocks and a Big Short on the U.S. Market
by Gunnar Larson 03 Dec '24

03 Dec '24

https://wallstreetonparade.com/2024/11/donald-trumps-treasury-nominee-made-… Donald Trump’s Treasury Nominee Made Big Bets this Year on Chinese Stocks and a Big Short on the U.S. Market By Pam Martens and Russ Martens: November 25, 2024 ~ Hedge Fund Manager, Scott Bessent, Is Trump’s Nominee for U.S. Treasury Secretary Last Friday, in a flurry of announcements of cabinet nominees, President-elect Donald Trump dropped the name that the entire world had been waiting to hear: his pick for U.S. Treasury Secretary. The man Trump chose, Scott Bessent, is the founder and majority owner of the hedge fund, Key Square Capital Management LLC. If confirmed by the Senate, Bessent will inherit sprawling powers. He will sit at the helm of a federal agency that includes the IRS; the Office of the Comptroller of the Currency, which regulates national banks and reports on their hundreds of trillions of dollars in derivatives; the Bureau of Engraving and Printing; the U.S. Mint; the Financial Crimes Enforcement Network (FinCEN) which is tasked with combating money laundering but has failed miserably in the job; and numerous other units. In addition, legislation passed by Congress will put Bessent in charge of the slush fund known as the Exchange Stabilization Fund; make him Chair of the Financial Stability Oversight Council; and, thanks to stealthy legislation passed during the first Trump administration, the Treasury Secretary is now a permanent member of the National Security Council (NSC). The National Security Council was created in 1947. For the next 70 years the Treasury Secretary was invited to sit on the NSC at the invitation of the President. Donald Trump’s Treasury Secretary in his first term, Steve Mnuchin, who came to that role after serving as National Finance Chairman of Trump’s presidential campaign, became the first Treasury Secretary to be a permanent part of the NSC thanks to a provision added to the 2018 Foreign Investment Regulatory Review Modernization Act. That provision is now codified into law at 50 U.S. Code § 3021. Also, as a result of the 2010 Dodd-Frank financial reform legislation, the Treasury Secretary is permitted to take the Federal Reserve hostage during a financial crisis. Section 1101 of the Dodd-Frank Act provides that the Federal Reserve Board, “may not establish any program or facility under this paragraph without the prior approval of the Secretary of the Treasury.” The referenced paragraph pertains to the Fed’s ability to enact emergency lending facilities during a financial crisis. In other words, assuming Bessent is confirmed, the Federal Reserve must now say “may I” to a career hedge fund manager (who has lots of powerful hedge fund pals on Wall Street) before structuring or implementing any new emergency lending programs. So much for Fed independence. Despite the sprawling duties and demands of the U.S. Treasury Secretary, Trump has chosen a man with no prior government experience. According to the most recent filings with the Securities and Exchange Commission (SEC), his hedge fund employs less than 25 people. The U.S. Treasury has more than 100,000 workers. Equally troubling, Bessent’s hedge fund has made large, erratic bets over the past year according to the 13F forms it has filed with the SEC. When Key Square Capital Management filed its 13F form for year-end 2023, it had a portfolio value of $469,992,491. It had taken massive stakes in Chinese stocks – not a particularly patriotic thing to do for an American. Bessent had invested more than $170.7 million in call options in an iShares China Large Cap Exchange Traded Fund (ETF) and more than $121.8 million in call options in KraneShares CSI China Internet ETF, which invests in Chinese Internet companies. The long positions in Chinese stock exposure represented 62 percent of the hedge fund’s positions. Just three months later, when Key Square filed its next 13F form with the SEC for the quarter ending March 31, 2024, the long exposure to Chinese stocks was gone and, instead, Bessent was now shorting the U.S. stock market – also not a very patriotic thing to do. The 13F shows that out of a portfolio of $528,653,631, Bessent had a put option (betting on a decline) in the Nasdaq stock market via Invesco’s QQQ ETF. That put option was valued at $515 million on March 31, representing an astonishing 97 percent of the Key Square portfolio. We don’t know how Bessent’s positions worked out this year because the public isn’t informed as to when positions are bought and sold by hedge funds. But we do know this: in years past, Bessent managed billions of dollars. By June 30 of this year, his 13F showed just $14 million invested. By September 30, Key Square was showing zero invested.

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The Fed Rings a Warning Bell: Hedge Funds and Life Insurers Are Reporting Historic Leverage
by Gunnar Larson 03 Dec '24

03 Dec '24

https://wallstreetonparade.com/2024/12/the-fed-rings-a-warning-bell-hedge-f… By Pam Martens and Russ Martens: December 3, 2024 ~ Jerome Powell (Thumbnail) Jerome (Jay) Powell, Chairman of the Federal Reserve Board The semi-annual Financial Stability Report released recently by the Federal Reserve Board of Governors rang a loud warning bell about high levels of leverage at hedge funds and life insurers. Wall Street watchers will no doubt recall that in 2008, during the worst Wall Street collapse since the Great Depression, Bear Stearns went under after it blew up two internal hedge funds the prior year and the giant life insurer, American International Group (AIG), blew itself up by acting as a counterparty to Wall Street’s derivative schemes and had to be taken into receivership by the U.S. government. On the matter of leverage at hedge funds, the Fed wrote this in its most recent Financial Stability Report: “Comprehensive data collected through SEC Form PF indicated that measures of leverage averaged across all hedge funds were at or near the highest level observed since these data became available in 2013. Relative to the previous report, leverage increased when measured using either average on-balance-sheet leverage…or average gross leverage of hedge funds…a broader measure that also incorporates off-balance-sheet derivatives exposures, but which does not account for netting of offsetting exposures.” And just who was providing this leverage to hedge funds? It was the federally-insured megabanks on Wall Street, of course. You won’t find that information in the Fed’s report but you can gain an in-depth understanding of this issue from our September 3 article titled: Three Megabanks Had Loans Outstanding of $1.832 Trillion to Giant Hedge Funds on March 31. The Fed seems to be a serial protector of the illusion that U.S. megabanks are doing just swell. It says this in its current report: “The banking system remained sound and resilient, with regulatory capital ratios approaching or exceeding historical highs.” That statement on capital levels would be much more convincing from the Federal Reserve Board of Governors if researchers at one of their 12 regional Fed banks, the New York Fed, had not just told the public in October that 27 percent of bank capital is “extend and pretend” commercial real estate loans. On the issue of high leverage at life insurers in 2024, the Fed’s Financial Stability Report tells us this: “Life insurers continued to allocate a substantial percentage of assets to risky and less liquid instruments, such as leveraged loans, collateralized loan obligations (CLOs), high-yield corporate bonds, privately placed corporate bonds, and alternative investments. Moreover, life insurance companies have material direct exposures to commercial mortgages and are large holders of commercial mortgage-backed securities (CMBS). This exposure to illiquid and risky assets makes life insurers vulnerable to an array of adverse shocks, including that of an economic downturn or of a significant further deterioration of the CRE [commercial real estate] market.” Another section of the Fed’s Financial Stability Report that looks highly suspect is the list of the most cited potential shocks that two dozen sophisticated contacts expressed as top concerns that might occur over the next 12 to 18 months. The Fed explains the survey as follows: “As part of its market intelligence gathering, staff from the Federal reserve bank of New York solicited views from a wide range of contacts on risks to U.S. financial stability. From late August to late October, the staff surveyed 24 contacts, including professionals at broker-dealers, investment funds, research and advisory firms, and academics. This section is a summary of the views provided by survey respondents and should not be interpreted as representing the views of the Federal reserve bank of New York or the Federal reserve board.” The chart below is the list of the most cited concerns. We do not find the list credible. From August to late October, tens of millions of Americans could think of little else than the possibility that Donald Trump might return to the White House for a second reign of chaos. But we are asked to believe that not one person out of the two dozen the New York Fed spoke to mentioned Trump as a key concern according to the chart the Fed released. Two days after the presidential election, on November 7, when it was clear that Trump had won both the electoral college and the popular vote, the U.K.’s Guardian newspaper summed up the view around the world on its front cover with this: “American dread.” A column headlined on the front page read: “Time to Rethink Everything We Thought About the U.S.” Tens of millions of Americans were thinking those exact words with many doing a Google search on how to relocate to a foreign country. Vanity Fair’s digital front cover on November 6 captured the mood perfectly with these words: “34 Felony Counts; 1 Conviction; 2 Cases Pending; 2 Impeachments; 6 Bankruptcies; 4 More Years: The 47th American President.”

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Re: Meta Platforms, Inc. Board of Directors - USPTO, Digital Assets and Moscow Exchange
by Gunnar Larson 03 Dec '24

03 Dec '24

Ms. Chollet: Thank you again for opening the folder. We have been occupied recently and will fill the folder soon. Thank you, Gunnar On Mon, Oct 21, 2024, 5:01 PM Chollet, Nicki <NChollet(a)ktslaw.com> wrote: > Gunnar, > > I have opened a secure folder for you to put documents in. Please let me > know if you have any problems accessing the folder. > > Best, > > Nicki > > > > Nicki > <https://www.google.com/maps/search/1100+Peachtree+Street+NE+%0D%0A+%7C+%0D%…> > Chollet > <https://www.google.com/maps/search/1100+Peachtree+Street+NE+%0D%0A+%7C+%0D%…> > > <https://www.google.com/maps/search/1100+Peachtree+Street+NE+%0D%0A+%7C+%0D%…> > NChollet(a)ktslaw.com > Kilpatrick Townsend > <https://www.google.com/maps/search/1100+Peachtree+Street+NE+%0D%0A+%7C+%0D%…> > & > <https://www.google.com/maps/search/1100+Peachtree+Street+NE+%0D%0A+%7C+%0D%…>Stockton > LLP > > <https://www.google.com/maps/search/1100+Peachtree+Street+NE+%0D%0A+%7C+%0D%…>1100 > Peachtree Street NE > <https://www.google.com/maps/search/1100+Peachtree+Street+NE+%0D%0A+%7C+%0D%…> > | > <https://www.google.com/maps/search/1100+Peachtree+Street+NE+%0D%0A+%7C+%0D%…> Suite > 2800 > <https://www.google.com/maps/search/1100+Peachtree+Street+NE+%0D%0A+%7C+%0D%…> > | > <https://www.google.com/maps/search/1100+Peachtree+Street+NE+%0D%0A+%7C+%0D%…> > Atlanta, > <https://www.google.com/maps/search/1100+Peachtree+Street+NE+%0D%0A+%7C+%0D%…> > GA > <https://www.google.com/maps/search/1100+Peachtree+Street+NE+%0D%0A+%7C+%0D%…> > 30309-4528 > <https://www.google.com/maps/search/1100+Peachtree+Street+NE+%0D%0A+%7C+%0D%…> > *T* 404 815 6010 | *M* 404 906 6948 | *F* 404 541 3387 > My Profile <http://www.ktslaw.com/en/People/C/CholletNicholeDavis> | vCard > <http://www.ktslaw.com/vcard/NicholeDavisChollet.vcf> > > > > *From:* Gunnar Larson <g(a)xny.io> > *Sent:* Wednesday, October 9, 2024 5:12 AM > *To:* Chollet, Nicki <NChollet(a)ktslaw.com> > *Cc:* investor(a)fb.com; Meta_Defensive_Disputes < > Meta_Defensive_Disputes(a)kilpatricktownsend.com>; cypherpunks < > cypherpunks(a)lists.cpunks.org>; Reader, Shaun <sreader(a)curtis.com> > *Subject:* Re: Meta Platforms, Inc. Board of Directors - USPTO, Digital > Assets and Moscow Exchange > > > > **CAUTION: External Email** > > > > > > > > Dear Ms. Chollet: > > > > We have the documents you are looking for concerning the Moscow Exchange. > > > > xNY.io - Bank.org would like to orgaize a secure channel to share this > information with Meta. > > > > How would you like to proceed? > > > > Best, > > > > Gunnar > > > > -- > > Gunnar Larson > > xNY.io - Bank.org > > 917-580-8053 > > > > On Thu, Apr 7, 2022, 3:16 PM Chollet, Nicki < > NChollet(a)kilpatricktownsend.com> wrote: > > Dear Mr. Larson, > > We have reviewed your correspondence and are still unable to determine the > merits of your claim. Before we can properly evaluate or respond to your > claim, you will need to provide additional details regarding the basis for > your claim and documentation of your relationship with Moscow Exchange or > ownership in the Moscow Exchange mark (for example, trademark registration > certificates evidencing your ownership of the alleged marks in question). > > Meta Platforms reserves all rights. > > > Sincerely, > > > > > > <https://www.google.com/maps/search/1100+Peachtree+Street+NE+%7C+Atlanta,+GA…> > > > *Nichole Davis Chollet **Kilpatrick Townsend & Stockton LLP* > Suite 2800 | 1100 Peachtree Street NE | Atlanta, GA > <https://www.google.com/maps/search/1100+Peachtree+Street+NE+%7C+Atlanta,+GA…> > 30309-4528 > <https://www.google.com/maps/search/1100+Peachtree+Street+NE+%7C+Atlanta,+GA…> > > office 404 > <https://www.google.com/maps/search/1100+Peachtree+Street+NE+%7C+Atlanta,+GA…> > 815 6010 | cell 404 906 6948 | fax 404 541 3387 > nchollet(a)kilpatricktownsend.com | My Profile > <http://www.kilpatricktownsend.com/en/People/C/CholletNicholeDavis> | > VCard <http://www.kilpatricktownsend.com/vcard/NicholeDavisChollet.vcf> > > *From:* Gunnar Larson <g(a)xny.io> > *Sent:* Thursday, April 7, 2022 2:45 PM > *To:* Chollet, Nicki <NChollet(a)kilpatricktownsend.com>; investor(a)fb.com > *Cc:* Meta_Defensive_Disputes < > Meta_Defensive_Disputes(a)kilpatricktownsend.com>; cypherpunks < > cypherpunks(a)lists.cpunks.org> > *Subject:* Re: Meta Platforms, Inc. Board of Directors - USPTO, Digital > Assets and Moscow Exchange > > > > > > > > Ms. Chollet: > > Should we fly with the Red Cross to Menlo Park? > > Gunnar > > -- > > *Gunnar Larson - xNY.io <http://www.xny.io/> | Bank.org <http://bank.org/>* > > MSc > <https://www.unic.ac.cy/blockchain/msc-digital-currency/?utm_source=Google&u…> - > Digital Currency > > MBA > <https://www.unic.ac.cy/business-administration-entrepreneurship-and-innovat…> - Entrepreneurship > and Innovation (ip) > > > > G(a)xNY.io > > +1-646-454-9107 > > New York, New York 10001 > > > > On Wed, Apr 6, 2022 at 4:07 PM Gunnar Larson <g(a)xny.io> wrote: > > Ms. Chollet: > > Unfortunately, you receive this message with Meta's board of directors > under delinquency. > > > > Meanwhile, xNY.io would like to learn Meta's approach to USPTO filing > internationally in Jamaica. > > > > Ms. Chollet, Jamaica makes the story even so much more interesting and > important. > > > > Thank you, > > > > Gunnar > > -- > > *Gunnar Larson - xNY.io <http://www.xny.io/> | Bank.org <http://bank.org/>* > > MSc > <https://www.unic.ac.cy/blockchain/msc-digital-currency/?utm_source=Google&u…> - > Digital Currency > > MBA > <https://www.unic.ac.cy/business-administration-entrepreneurship-and-innovat…> - Entrepreneurship > and Innovation (ip) > > > > G(a)xNY.io > > +1-646-454-9107 > > New York, New York 10001 > > > > On Sun, Apr 3, 2022 at 8:33 PM Gunnar Larson <g(a)xny.io> wrote: > > Dear Ms. Chollet: > > > > Thank you again for your reply on Friday specific to Meta's USPTO mark > application definition exactness to Moscow Exchange. Ms. Chollet, for > reasons you may be aware of, xNY.io must kindly implore Meta's board of > directors to recall all eight USPTO applications by 5:00pm Tuesday April 4, > 2022 EST. > > > > Being very clear, to make sure there is no confusion to xNY.io's honest > aim to protect digital asset innovation, Meta must understand that its > USPTO mark filing is defined exactly to the Moscow Exchange mark. Ms. > Chollet, laws in Russia and the United States often describe principles > relating to integrity and ethical conduct. Anyone who is regulated > (anywhere in the world) is subject to fit and proper requirements that can > be interpreted at will. > > - Meta should understand that international peace and security is far > more important than unnecessarily urging Meta's board of directors to do > the right thing. > - Furthermore, xNY.io submits Citigroup's Metaverse and Money > whitepaper on regulation profiling Mr. Zuckerburg's idea that, "There are > different types of integrity questions." With additional comment from > Nadine Dorries, Member of the United Kingdom Parliament and Secretary of > State for Digital, Culture, Media and Sport, who says "... Rebranding does > not work. When harm is caused, we are coming after it." > - xNY.io has collated 33 highlights to Citigroup's Metaverse and Money > whitepaper for Meta's board as general reference > https://drive.google.com/file/d/1REoa87GCmt2uhDp7ZYswbTRw4ygQgjsL/view?usp=… > > xNY.io asks not whether Meta's mark would damage the market for the Moscow > Exchange (by, for example, devaluing it through parody or criticism), but > whether it *usurps* the market by offering a competing substitute, > potentially causing significant damage to digital asset purity and > blockchain software technology innovation. > > > > Sending you the very best regards. > > > > Thank you, > > > > Gunnar Larson > > -- > > *Gunnar Larson - xNY.io <http://www.xny.io/> | Bank.org <http://bank.org/>* > > MSc > <https://www.unic.ac.cy/blockchain/msc-digital-currency/?utm_source=Google&u…> - > Digital Currency > > MBA > <https://www.unic.ac.cy/business-administration-entrepreneurship-and-innovat…> - Entrepreneurship > and Innovation (ip) > > > > G(a)xNY.io > > +1-646-454-9107 > > New York, New York 10001 > > > > On Fri, Apr 1, 2022 at 6:18 PM Gunnar Larson <g(a)xny.io> wrote: > > Mr. Chollet: > > > > It would appear today's correspondence confirms that Meta is > seemingly aware of xNY.io's general concern. > > - Meta has no real advantage questioning xNY.io's relationship with > Moscow Exchange. Understand, xNY.io did not file USPTO application(s) > seeking approval for a mark that is defined near exact to that of Moscow > Exchange. > - Furthermore, on March 17, 2022 Sber announced > <https://www.sberbank.com/news-and-media/press-releases/article?newsID=cd44d…> digital > asset issuance. This is one day before Meta's March 18, 2022 USPTO > submission for mark approval relating to digital assets. > - Meta's board of directors may understand xNY.io's general concern of > coordination and/or lack of coordination that could risk global digital > asset marketplace purity. > - xNY.io asks not whether Meta's mark would damage the market for the > Moscow Exchange (by, for example, devaluing it through parody or > criticism), but whether it *usurps* the market by offering a competing > substitute, potentially causing significant damage to digital asset purity > and blockchain software technology innovation. > > Mr. Chollet, the last point is key to resolving any question of xNY.io's > relationship with Moscow Exchange. xNY.io's March 24, 2022 memo to Meta is > clear and honest. We expect that Meta will not aim to muddy the waters on > this important concern forward. > > > > With all due respect, Meta’s board of directors may understand xNY.io > cannot logically accept that the recent USPTO applications are not a > marketplace manipulation exercise at xNY.io’s overall expense. Meta’s board > of directors must ask itself, to the best of its knowledge, information, > and belief, if further inquiry is reasonable under the circumstances? > > > > Respectfully, > > > > Gunnar Larson > > -- > > *Gunnar Larson - xNY.io <http://www.xny.io/> | Bank.org <http://bank.org/>* > > MSc > <https://www.unic.ac.cy/blockchain/msc-digital-currency/?utm_source=Google&u…> - > Digital Currency > > MBA > <https://www.unic.ac.cy/business-administration-entrepreneurship-and-innovat…> - Entrepreneurship > and Innovation (ip) > > > > G(a)xNY.io > > +1-646-454-9107 > > New York, New York 10001 > > > > On Fri, Apr 1, 2022 at 4:21 PM Chollet, Nicki < > NChollet(a)kilpatricktownsend.com> wrote: > > Dear Gunnar, > > > > We write to confirm we represent Meta Platforms, Inc. in connection with > this matter. Please direct all further correspondence on this matter to our > attention. > > > > We received your letter dated March 24, 2022 and your follow up from this > morning. We reviewed your correspondence, however, we are unable to > determine the merits of your claim. Specifically, your letter does not > provide any information regarding a specific application or registration > being asserted or any evidence of your relationship with any entity owning > rights in the alleged Moscow Exchange mark. Before we can properly evaluate > or respond to your claim, you will need to provide additional details > regarding the basis for your claim and documentation of your relationship > with Moscow Exchange or ownership in the Moscow Exchange mark. > > > > Meta Platforms reserves all rights. > > > > Sincerely, > > > > > *Nichole Davis Chollet **Kilpatrick Townsend & Stockton LLP* > Suite 2800 | 1100 Peachtree Street NE | Atlanta, GA > <https://www.google.com/maps/search/1100+Peachtree+Street+NE+%7C+Atlanta,+GA…> > 30309-4528 > <https://www.google.com/maps/search/1100+Peachtree+Street+NE+%7C+Atlanta,+GA…> > > office 404 > <https://www.google.com/maps/search/1100+Peachtree+Street+NE+%7C+Atlanta,+GA…> > 815 6010 | cell 404 906 6948 | fax 404 541 3387 > nchollet(a)kilpatricktownsend.com | > <https://www.google.com/maps/search/1100+Peachtree+Street+NE+%7C+Atlanta,+GA…> My > Profile > <http://www.kilpatricktownsend.com/en/People/C/CholletNicholeDavis> | > VCard <http://www.kilpatricktownsend.com/vcard/NicholeDavisChollet.vcf> > > > > *From:* Gunnar Larson <g(a)xny.io> > *Sent:* Friday, April 1, 2022 7:23 AM > *To:* investor(a)fb.com > *Cc:* MetaProsecution <MetaProsecution(a)kilpatricktownsend.com>; > cypherpunks <cypherpunks(a)lists.cpunks.org> > *Subject:* Re: Meta Platforms, Inc. Board of Directors - USPTO, Digital > Assets and Moscow Exchange > > > > > > > > Dear Meta Board of Directors: > > It has been eight days since our original correspondence, seeking clarity > between Meta's logo and the Moscow Exchange logo. > > > > Offering Meta the benefit of the doubt, noting this could simply be some > misunderstanding ... We seek Meta's clarification by 5:00pm today, Friday > April 1, 2022. > > > > Respectfully yours, > > > > Gunnar Larson > > -- > > *Gunnar Larson - xNY.io <http://www.xny.io/> | Bank.org <http://bank.org/>* > > MSc > <https://www.unic.ac.cy/blockchain/msc-digital-currency/?utm_source=Google&u…> - > Digital Currency > > MBA > <https://www.unic.ac.cy/business-administration-entrepreneurship-and-innovat…> - Entrepreneurship > and Innovation (ip) > > > > G(a)xNY.io > > +1-646-454-9107 > > New York, New York 10001 > > > > On Thu, Mar 24, 2022 at 5:20 PM Gunnar Larson <g(a)xny.io> wrote: > > Dear Meta Board of Directors: > > > > Please find the attached memo > <https://docs.google.com/document/d/1f_fq1GaKNaAUGEyztdm-oMtIuEW2yXj4C5aoN0G…> addressed > to your attention. > > - Today’s correspondence is to kindly submit xNY.io’s overall concern > of Meta Platforms, Inc. and Moscow Exchange mark similarities, > specifically, both marks seemingly resemble a geometric design consisting > of two loops and/orovals touching or intersecting. > > xNY.io kindly asks Meta’s Board to respond by Friday, March 25, 2022 at > 5:00pm EST. > > > > Respectfully yours, > > > > Gunnar Larson > > -- > > *Gunnar Larson - xNY.io <http://www.xNY.io> | Bank.org <http://Bank.org>* > > MSc > <https://www.unic.ac.cy/blockchain/msc-digital-currency/?utm_source=Google&u…> > - Digital Currency > > MBA > <https://www.unic.ac.cy/business-administration-entrepreneurship-and-innovat…> > - Entrepreneurship and Innovation (ip) > > > > G(a)xNY.io > > +1-646-454-9107 > > New York, New York 10001 > > > > > > > > > > ------------------------------ > > > Confidentiality Notice: > This communication constitutes an electronic communication within the > meaning of the Electronic Communications Privacy Act, 18 U.S.C. Section > 2510, and its disclosure is strictly limited to the recipient intended by > the sender of this message. This transmission, and any attachments, may > contain confidential attorney-client privileged information and attorney > work product. If you are not the intended recipient, any disclosure, > copying, distribution or use of any of the information contained in or > attached to this transmission is STRICTLY PROHIBITED. Please contact us > immediately by return e-mail or at 404 815 6500, and destroy the original > transmission and its attachments without reading or saving in any manner. > ------------------------------ > > > ***DISCLAIMER*** Per Treasury Department Circular 230: Any U.S. federal > tax advice contained in this communication (including any attachments) is > not intended or written to be used, and cannot be used, for the purpose of > (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, > marketing or recommending to another party any transaction or matter > addressed herein. > > > > > > > > > > > > > > > > > > > > > >

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Influencer Hasn't Shown She's 'Special' In IP Row, Rival Says
by Gunnar Larson 03 Dec '24

03 Dec '24

Influencer Hasn't Shown She's 'Special' In IP Row, Rival Says <https://www.law360.com/technology/articles/2268132?nl_pk=2bd720dd-746c-4744…> By Theresa Schliep An influencer hasn't backed up her claims that she's "unique" and "special" in her case accusing a competitor of copying her social media aesthetic, the rival told a Texas federal court, asking it to reject a magistrate judge's recommendations to keep much of the case alive. 1 document attached |

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Shipping Industry Braces For Waves Of New Trump Tariffs
by Gunnar Larson 03 Dec '24

03 Dec '24

Shipping Industry Braces For Waves Of New Trump Tariffs <https://www.law360.com/technology/articles/2267923?nl_pk=2bd720dd-746c-4744…> By Alex Lawson After a holiday weekend marked by a fresh round of tariff threats from President-elect Donald Trump, the shipping and logistics industry is beginning to feel the heat, warning companies to prepare for massive upheaval if Trump follows through. Read full article » <https://www.law360.com/technology/articles/2267923?nl_pk=2bd720dd-746c-4744…> | Save to favorites » <https://www.law360.com/technology/articles/2267923?nl_pk=2bd720dd-746c-4744…> Gov't Owned Broadband Often Fails, <https://www.law360.com/technology/articles/2267934?nl_pk=2bd720dd-746c-4744…>

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Pull The Plug': Broadband Program Wasteful, GOP Sen. Says
by Gunnar Larson 03 Dec '24

03 Dec '24

Pull The Plug': Broadband Program Wasteful, GOP Sen. Says <https://www.law360.com/technology/articles/2268173?nl_pk=2bd720dd-746c-4744…> By Christopher Cole The government's $42.5 billion program to deploy broadband to underserved locations throughout the U.S. should be stopped because it's wasting money hand over fist, according to a Republican senator. Letter attached | Read full article » <https://www.law360.com/technology/articles/2268173?nl_pk=2bd720dd-746c-4744…> | Save to favorites » <https://www.law360.com/technology/articles/2268173?nl_pk=2bd720dd-746c-4744…>

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Google Can't Yet Appeal Ruling Preserving Kids Tracking Suit
by Gunnar Larson 03 Dec '24

03 Dec '24

Google Can't Yet Appeal Ruling Preserving Kids Tracking Suit <https://www.law360.com/technology/articles/2268295?nl_pk=2bd720dd-746c-4744…> By Hailey Konnath A California federal judge on Monday declined to let Google immediately appeal his earlier ruling leaving intact allegations the search giant surreptitiously tracks children's web activity, finding Google hasn't shown that the issues underlying that ruling warrant an appeal at this stage in the litigation. Order attached | Read full article » <https://www.law360.com/technology/articles/2268295?nl_pk=2bd720dd-746c-4744…> | Save to favorites » <https://www.law360.com/technology/articles/2268295?nl_pk=2bd720dd-746c-4744…>

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Canadian News Orgs. Hit OpenAI With IP Litigation
by Gunnar Larson 03 Dec '24

03 Dec '24

Canadian News Orgs. Hit OpenAI With IP Litigation <https://www.law360.com/technology/articles/2268080?nl_pk=2bd720dd-746c-4744…> By Adam Lidgett A group of Canadian news companies has followed other media organizations to launch litigation targeting OpenAI, with the latest lawsuit saying the ChatGPT developer is wrongfully profiting from of copyrighted content. 1 document attached | Read full article » <https://www.law360.com/technology/articles/2268080?nl_pk=2bd720dd-746c-4744…> | Save to favorites » <https://www.law360.com/technology/articles/2268080?nl_pk=2bd720dd-746c-4744…>

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X Escapes Former Twitter Security Head's Firing Suit
by Gunnar Larson 03 Dec '24

03 Dec '24

X Escapes Former Twitter Security Head's Firing Suit <https://www.law360.com/technology/articles/2266726?nl_pk=2bd720dd-746c-4744…> By George Woolston A New Jersey federal judge has sent a former Twitter security chief's suit claiming he was fired for protesting massive budget cuts to arbitration, ruling that the claims fail under the provisions of the company's arbitration agreement. Order attached | Read full article » <https://www.law360.com/technology/articles/2266726?nl_pk=2bd720dd-746c-4744…> | Save to favorites » <https://www.law360.com/technology/articles/2266726?nl_pk=2bd720dd-746c-4744…>

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Atty Seeks DEA Communications On Rescheduling
by Gunnar Larson 03 Dec '24

03 Dec '24

Atty Seeks DEA Communications On Rescheduling <https://www.law360.com/cannabis/articles/2267910?nl_pk=c844ee6a-f80e-4e60-b…> By Mike Curley An attorney is suing the U.S. Drug Enforcement Administration under the Freedom of Information Act, seeking communications between the agency and anti-legalization activists as the agency holds a hearing on whether to reschedule the drug under the Controlled Substances Act. 2 documents attached | Read full article » <https://www.law360.com/cannabis/articles/2267910?nl_pk=c844ee6a-f80e-4e60-b…> | Save to favorites » <https://www.law360.com/cannabis/articles/2267910?nl_pk=c844ee6a-f80e-4e60-b…>

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