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WASHINGTON: The chair of the U.S. Securities and Exchange Commission (SEC) on Tuesday called on Congress to give the agency more authority to better police cryptocurrency trading, lending and platforms, a "Wild West" he said is riddled with fraud and investor risk.

Gary Gensler (pic) said the crypto market involves many tokens which may be unregistered securities and leaves prices open to manipulation and millions of investors vulnerable to risks.

"This asset class is rife with fraud, scams and abuse in certain applications," Gensler told a global conference. "We need additional congressional authorities to prevent transactions, products and platforms from falling between regulatory cracks."

Cryptocurrencies reached a record capitalization of $2 trillion in April as more investors stocked their portfolios with digital tokens, but oversight of the market remains patchy.

The industry has been waiting with bated breath to see how...

No matter how hard you try to spin the house balls at your local bowling joint, they rarely curve. That’s because they are simple spheres built for durability, not fancy moves. But a small handful of companies—among them Storm Bowling—create gear that is surprisingly complex inside. Precisely shaped, meticulously balanced weight blocks leverage the laws of physics to help skilled alley jockeys throw a strike on most rolls. This clever engineering allows the projectiles to hook inward as they approach the end of the 60-foot lane, where the invisible oil slick on the boards thins. The spin an expert gives the globe (as fast as 600 rpm) will find purchase there as the friction increases, putting the orb right next to the headpin. Here’s a look at what’s going on under the surface.

The investment firm is staring down losses of about $1.5 billion after its hedge funds plunged through July, according to people familiar with the matter. Its flagship Alphadyne International Fund lost about 10%. It also manages a leveraged version with about the same amount of assets.

Florida's second-largest school district on Monday said it will no longer impose a mask mandate after Gov. Ron DeSantis (R) threatened to withhold funding from districts that require face coverings.

Driving the news: Broward County Public Schools announced last week that it would require mask use after the CDC issued new guidance recommending universal indoor masking for all teachers, staff, students and visitors to K-12 schools this incoming school year, regardless of vaccination status.

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