The Securities and Exchange Commission filed 13 charges against Binance, the world's largest crypto exchange, and its founder, Changpeng Zhao, alleging both commingled billions of dollars worth of user funds and sent them to a European company controlled by Zhao. The U.S. regulator alleged on Monday that Zhao and his exchange worked to subvert ‘their own controls’ to allow high-net-worth U.S. investors and customers to continue trading on Binance's unregulated international exchange.

In this episode of The Higher Standard, Chris and Saied examine this news and determine the effect it will have on the economy as a whole.

They discuss a story stating that Christian radio host Dave Ramsey is facing a $150 million lawsuit from 17 listeners who claim he played a role in defrauding them by promoting a timeshare exit company.

Chris and Saied look at a report from the Labor department indicating that payrolls in the public and private sector increased by 339,000 for the month, better than the 190,000 Dow Jones estimate and marking the 29th straight month of positive job growth.

They also offer some thoughts on the latest Markets Live Pulse survey, which found that roughly one in two people who work in finance would change jobs — or already have — if their managers required them to spend more time in the office.

Join Chris and Saied for this fascinating and informative conversation.

Enjoy!

What You’ll Learn in this Show:

• Why air travel is the highest-ranking inflation item at 26%.
• Why realtors are bowing out of the real estate industry.
• The concept of timeshares and their benefits.
• And so much more...

Resources:

"Christian radio host Dave Ramsey faces $150 million lawsuit from listeners who say they were defrauded by a timeshare exit company he promoted" (Yahoo! Finance)

"SEC sues Binance and CEO Changpeng Zhao for U.S. securities violations" (CNBC)

"Payrolls rose 339,000 in May, much better than expected in resilient labor market" (CNBC)

"Don’t Ask Us to Come to the Office More — Or We Will Quit, Investors Say" (Bloomberg)

"A $1.5 Trillion Backstop for Homebuyers Props Up Banks Instead" (Bloomberg)

"Why the U.S. Remains Far From Recession" (The Wall Street Journal)