The Singaporean cryptocurrency miner – Bitdeer – expects to go public on April 14 after finalizing the SPAC merger with Blue Safari Group Acquisition Corp. The former displayed its intentions to enter Nasdaq in November 2021. However, shareholders of Blue Safari delayed the initiative three times in the past several months due to the harsh...Read More
On April 11, it was reported that Coinbase had been awarded almost $470,000 in damages following a guilty plea in a Manhattan court. The case involved a crypto trader who took tips from his brother who worked at Coinbase Global. According to U.S. District Judge Loretta Preska, Nikhil Wahi was ordered to pay the sum...Read More
XRP is one of the handful of crypto-assets that has outperformed Bitcoin in the latest market-wide rally. Traders are placing their bets on a potential victory for the blockchain firm Ripple’s multi-year legal battle against the US Securities and Exchange Commission (SEC), with a ruling expected in April. In the past two weeks alone, XRP...Read More
Scott Chamberlain – a former US lawyer and co-founder of EvernodeXRPL – thinks the main obstacle that stops XRP’s price from surging is the SEC’s claim that the token classifies as security. On the other hand, Ripple – the entity which issues the coin – has maintained that XRP should be treated as a commodity....Read More
Brad Garlinghouse, the chief executive officer of Ripple Labs, has called on lawmakers in the United States to look into assertive statements made by Gary Gensler, the chairman of the Securities and Exchange Commission (SEC), about the American crypto industry. Garlinghouse’s comments come as Gensler told a House Appropriations Committee in a recent hearing that...Read More
The US Securities and Exchange Commission (SEC) alleged that crypto trading platform Beaxy and its executives ran an unregistered securities exchange, broker, and clearing agency. The platform ceased operations a day before the SEC lawsuit. Beaxy Fouder Misappropriated Nearly $1M in Investor Funds In a press release on Wednesday (March 29, 2023), the SEC stated...Read More
SEC chair Gary Gensler pulled no punches against crypto in a testimony to the House Financial Services Subcommittee on March 29. The meeting addressed the agency’s fiscal year 2024 budget request, and Gensler acknowledged the high pace of technological change. However, he was quick to attack the digital asset sector yet again with this sweeping...Read More
XRP has been defying the market-wide decline as it continued its impressive recovery for the month. The asset – that is at the center of the Ripple lawsuit brought by the US Securities and Exchange Commission (SEC) – has surged by nearly 13% over the past day alone. XRP Surges to 10-Month High According to...Read More
The United States Securities and Exchange Commission has often talked about the purported “dangers” of crypto-assets while highlighting the need to strongly regulate the industry. It wasn’t until the FTX blow-up that the regulator stepped up its aggression. In yet another instance stigmatizing the asset class, the securities watchdog has released a bulletin urging investors...Read More
The Securities and Exchange Commission (SEC) is prepping for official enforcement action against Coinbase – America’s largest cryptocurrency exchange – for selling unregistered securities. The agency issued a Wells Notice against the exchange on Wednesday, following a slew of other investigations and lawsuits launched against Coinbase’s competitors in recent months. Coinbase VS SEC In an...Read More
The United States Department of Justice (DOJ) reportedly launched an investigation against Terraform Labs and its former employees to explore what led to the collapse of the project’s native token – LUNA – and its algorithmic stablecoin – UST. The US SEC recently accused the entity and its co-founder – Do Kwon – of orchestrating...Read More
Both the Securities and Exchange Commission (SEC) and Department of Justice (DOJ) are reportedly investigating the now-collapsed Silicon Valley Bank (SVB) after depositors to the bank were bailed out by regulators on Sunday. The separate investigations will both examine the stock sales of SVB’s executives moments before the bank collapsed. The agencies’ investigations are still...Read More
The US Securities and Exchange Commission (SEC) filed an emergency action against the Miami-based financial advisor firm – BKCoin Management LLC – and its Co-Founder Kevin Kang, claiming they have defrauded investors with $100 million via a fraudulent crypto scheme. The agency seeks to impose financial penalties on the organization and a conduct-based injunction against...Read More
According to a March 9 Fox Business report, the next salvo in Uncle Sam’s war on crypto could be a massive class action lawsuit filed on behalf of retail investors against top exchanges. The outlet reported that leading securities lawyer Tom Grady is preparing for potential litigation against America’s largest crypto companies, including Coinbase, Robinhood,...Read More
Grayscale and the Securities and Exchange Commission (SEC) have presented their first oral arguments in court regarding the approval/ denial of a Bitcoin a spot ETF product in the United States. During the hearing, judges pressed the SEC on its justification for simultaneously approving multiple Bitcoin Futures ETFs, while denying an equivalent spot ETF. Spot...Read More
At the center of the Grayscale-SEC drama is Grayscale Bitcoin Trust (GBTC) – the world’s largest Bitcoin fund – which has for two years been trading at a steep discount to the crypto-asset it holds. This has caused much pain in the market. But on the days leading up to the much-anticipated fight, the GBTC...Read More
Kraken has had a tough time with the United States regulatory agencies. Despite the difficult environment, the crypto exchange is planning to roll out its own bank. Marco Santori, Kraken’s chief legal officer, revealed Kraken Bank is very much on track to launch. Kraken Bank According to Kraken Support, the offering will initially be available...Read More
U.S. Bankruptcy Judge Michael Wiles made the comments at a court hearing in New York on March 2. The Voyager Digital restructuring plan would involve the sale of just over $1 billion worth of its assets to Binance.US. However, the SEC has opposed the deal claiming that it violates securities laws. When questioned about the...Read More
Robinhood Markets said it received an investigative subpoena from the US Securities and Exchange Commission (SEC) in December. The agency’s move is part of a major crackdown against the digital asset industry after the dramatic collapse of Sam Bankman-Fried’s crypto empire last year. The disgraced crypto mogul was recently hit by fresh criminal charges relating...Read More
Gary Gensler’s recent interview with New York Mag (NYMAG) has ruffled feathers across the crypto industry again. The SEC chair reiterated that he considers all crypto assets and all transitions to be subject to U.S. securities laws, aside from spot trading for Bitcoin. Although crypto assets have yet to be officially classified, Gensler said “everything...Read More
Following the most recent crackdown by the US Securities and Exchange Commission against several crypto companies, Jeremy Allaire opined that the agency is not the best fit to oversee stablecoins in particular. He believes these assets are part of the banking sector, thus, they need to be regulated by another watchdog in the States. The...Read More
The United States Securities and Exchange Commission (SEC) has filed a motion objecting to the sale of Voyager Digital’s assets to crypto exchange Binance.US in a $1 billion deal. According to a Wednesday filing submitted at the United States Bankruptcy Court for the Southern District of New York, the SEC alleges that the transaction would...Read More
The first Finance Ministers and Central Bank Governors Meeting of G20 under India’s presidency, taking place from February 23 to 25 at Bengaluru, is expected to discuss cryptocurrencies, among other issues, Reuters said in a report. Indian Finance Minister Nirmala Sitharaman, who plays the host, earlier said that the group is exploring if it can...Read More
Dapper Labs will be forced to face a lawsuit from the Securities and Exchange Commission (SEC) alleging that the NFT Top Shot NFT Moments on its platform are unregistered securities, following a judge’s refusal to dismiss the case on Wednesday. United States District Court Judge Victor Marrero ruled that such NFTs may plausibly qualify as...Read More
Major blockchain infrastructure platform Paxos Trust Company is holding discussions with the US Securities and Exchange Commission (SEC) concerning Binance stablecoin BUSD, according to a report by Reuters. The company earlier received a notice from New York authorities to cease minting BUSD. According to Reuters on Tuesday (Feb. 21, 2022), Charles Cascarilla, CEO of Paxos,...Read More
It’s only been a few days since Kraken, one of the largest exchanges in the U.S., shut down its staking services and paid a $30 million settlement over selling – according to the SEC – unlicensed securities. Despite compliance with regulators and a commitment to proof of reserves, both Kraken and Binance have been under...Read More
According to the latest edition of CoinShares’ weekly report, outflows in digital asset investment products reached $32 million last week, a level not seen since late December 2022. The sentiment could be attributed to exchange-traded product (ETP) investors being less optimistic about recent regulatory pressures in the US relative to the wider market. Bitcoin Bears...Read More
On February 17, the Securities and Exchange Commission (SEC) charged NBA Hall of Famer Paul Pierce with illegally promoting the EMAX token on his social media accounts. The EMAX token was offered and sold by EthereumMax. According to the complaint, Pierce has agreed to pay a penalty of $1,115,000, plus approximately $240,000 in disgorgement and...Read More
Shortly after legally going after Do Kwon and Terraform Labs, the US Securities and Exchange Commission asserted that the former cashed out 10,000 bitcoin after his brainchild collapsed. Kwon has been on the run ever since the crash last year, reportedly currently hiding in Serbia. As reported by Bloomberg, the latest allegations from the US...Read More
On February 16th, the US Securities and Exchange Commission (SEC) accused Terraform Labs, the Singapore-based company behind the creation of LUNA and UST – native tokens of the Terra ecosystem – and its co-founder Do Kwon of promoting a multi-billion dollar fraud by offering and selling unregistered securities through the use of crypto assets. The...Read More
