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Cryptocurrency exchange Crypto.com on Tuesday sued the U.S. Securities and Exchange Commission (SEC) over concern that the SEC's actions overstep legal boundaries and undermine the future of the crypto industry in the U.S.

According to Crypto.com, the lawsuit follows a Wells Notice issued in August by the SEC to the company, which is a letter that indicates the SEC's intention to bring an enforcement case against the crypto startup.

The crux of Crypto.com's lawsuit contends that the SEC has unilaterally expanded its jurisdiction beyond the limits established by law, particularly by classifying most crypto transactions as securities dealings.

The company contends that this regulatory position is applied inconsistently, exempting bitcoin (BTCUSD) and ether (ETHUSD) despite their perceived similarity to other crypto assets. Crypto.com also emphasized in the suit that the SEC bypassed key procedural steps, including the notice and comment rulemaking requirements under the Administrative Procedure Act.

By filing this suit, Crypto.com said it aims to halt what it views as the SEC’s "unlawful" campaign against the crypto industry. 

Additionally, Crypto.com has filed a petition with the Commodity Futures Trading Commission (CFTC) and the SEC to establish a clearer regulatory framework for cryptocurrency derivatives in the U.S.

Blockchain technology firm Consensys also filed a preemptive lawsuit against the SEC earlier this year after receiving a Wells Notice.

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Roblox (RBLX) shares slumped Tuesday after short seller Hindenburg Research accused the online gaming platform of overstating its user numbers.

Hindenburg in report said that Roblox "is lying to investors, regulators, and advertisers about the number of 'people' on its platform, inflating the key metric by 25-42%+. We also show how engagement hours, another key metric, is inflated by an estimated 100%+."

Hindenburg's report said that while the Roblox reports the number of people using the site, its measure counts daily active users, which Hindenburg said is not a measure of unique individuals. It added that a check of Roblox's engagement data indicated that it was also overstated. Hindenburg, which in recent months has targeted companies including Super Micro and Equinix, also claimed Roblox exposes children to dangerous material.

"We totally reject the claims made in the report," Roblox said in a statement provided to . "The financial claims made by Hindenburg Research are simply misleading. The authors are, admittedly, short sellers and have an agenda irrespective of the substance of Roblox' business model and results."

Shares of Roblox were recently down about 3%, leaving them off roughly 12% this year.

—This story has been updated with a Roblox comment.

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A record number of small business owners felt uncertain about the future in September, as doubts about the economy took a toll.

A National Federation of Independent Business (NFIB) index of small business owner sentiment found uncertainty jumped 11 points to 103 in September. That's the highest ever recorded since the organization began the survey in 1973.

The lowest number of owners since June 2020 reported increasing their businesses' inventory. About half (51%) of owners reported making capital expenditures in the past six months, a five-point decrease from August.

“Uncertainty makes owners hesitant to invest in capital spending and inventory, especially as inflation and financing costs continue to put pressure on their bottom lines,” said NFIB Chief Economist Bill Dunkelberg.  “Although some hope lies ahead in the holiday sales season, many Main Street owners are left questioning whether future business conditions will improve.”

Inflation remained the top issue for business operators. The survey also showed 59% of businesses were hiring. However, a majority of hiring owners reported being unable to find qualified candidates, despite a September jobs report showing a surprising staffing increase.

“Job growth has been very weak on Main Street,” the report said. “Job openings have been historically high, but most firms trying to hire report few or no qualified applicants for their open positions.”

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Shares of WW International (WW), better known as WeightWatchers, jumped nearly 25% Tuesday when the dieting services company announced it is offering a copycat version of blockbuster weight-loss drugs.

WW said eligible members could now get compounded semaglutide, giving them "access to clinical weight management interventions that are underpinned by the comprehensive, science-backed, behavioral and lifestyle support that has helped millions of people reach and sustain their weight goals."

Semaglutide is the active ingredient in Novo Nordisk's (NVO) obesity treatment Wegovy, as well as its diabetes medicines Ozempic and Rybelsus, which have also been shown to help with weight loss.  

WW noted that drugs to reduce weight have been in short supply, and interim Chief Executive Officer (CEO) Tara Comonte explained that the company is "expanding our offering to include a clinical weight management solution that is both accessible and affordable."

Compounding is a method by which another drug is added to the original patented one. WW noted that it has selected a compounding company that adheres to the same manufacturing standards enforced by the Food and Drug Administration (FDA) for production of FDA-approved drugs.  

WW International shares have been sinking, plunging to an all-time low in September, as the success of Wegovy and others cut into demand for the company's services. Even with today's gains, the shares are down nearly 90% in 2024.

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Sphere Entertainment (SPHR) stock fell Tuesday morning after announcing the unexpected departure of Chief Financial Officer (CFO) David Byrnes, who "will continue in his current role for an interim period to facilitate a smooth transition."

Byrnes has been finance chief of the Las Vegas Sphere operator since last December, and before that was CFO of Madison Square Garden Entertainment (MSGE), which spun off from Sphere Entertainment in April 2023.

Sphere Entertainment did not provide a reason for Byrnes' departure, simply saying that he "will be leaving the company."

Sphere Entertainment shares recently were down 8% to $41.39, but are still up about 22% so far this year.

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A 32-year-old mother of two, Lamidi Modinat, has died after being struck by a car on her way to work in Rotherham.

It is reported that on December 18th, 2023, while crossing Clifton Lane, she was tragically struck by a black Ford Focus. She sustained a serious head inj¥ry and was rushed to the hospital, where she fought for her life in critical condition for months.

Despite her brave fight, Lamidi sadly passed away on September 30th, 2024. However, in an interview with Yorkshirelive months ago, Lamidi’s devastated husband, Ahmed Taiwo, recalled the moment their lives changed forever, he said: “My wife left home at around 5pm on Monday, December, 18, and headed to work, she started her shift at 7pm and as always and got get the bus from Sheffield to Rotherham.

It was an ordinary day, she was feeling happy, my mother, who had come over to stay with us at the time, recalls she was dancing and singing before she left. Lamidi was set to celebrate her birthday on December 24 and we were all looking forward to spending some time together at the weekend. Everything seemed normal that evening, I was upstairs tending to our two young children (aged 6 and 2) when there was a knock at the door, it was the police. They told me my wife had been involved in a road collision and was seriously hurt, at first I didn’t believe them and I said ‘it can’t be my wife is at work’, when they relayed the details, I was shattered, I immediatley rushed to the hospital.

I arrived at Northern General hospital and had to wait until around 3am in the morning to see my wife because she was in such a bad state, it was agonising. I called my friends to come and wait with me because I was so scared. When I finally got to see my wife I couldn’t believe my eyes, it was surreal. I was devastated, I have only seen things like that in movies, she was covered in wires and machines, she was wrapped in different bandages, it takes a lot to take me to cry, my friends were all crying, I was in shock I couldn’t understand what had happened.”

Ahmed continued: “My wife was moved to intensive care fairly quickly, they did an MRI scan to assess the damage. The tissue in her brain has been disconnected so I believe, the brain has been severely damaged and right now we don’t know how things are going to go. She’s not talking, she’s not responding when you talk to her, she opens her eyes but she’s not doing much else at the minute. The doctors wanted to stop life support but I did not give consent.

She has two kids, I don’t want my kids to be without a mother, I do not want to give up, she was moved to the critical care department, I begged them to give her more time. She’s still breathing, she’s still trying, my children need their mum. The kids are missing her, my eldest son is really struggling, he doesn’t understand, he’s crying a lot, it’s really difficult to explain to him that he might never see her again.

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