The firm’s former chief operating officer, Dave Ripley, will assume the role of CEO after it hires a new COO. The news follows the shock announcement last week that Kraken founder Jesse Powell will be stepping down after more than a decade at the helm. Ripley also stated that the exchange has no intentions of...Read More
On Monday, the Securities and Exchange Commission filed a regulatory action against Ian Ballina. The computer engineer and data scientist has appeared prominently on investment programs such as CNBC, Forbes, Business Insider, and Entrepreneur Magazine. SEC Hammers Sparkster Coin for Improper Disclosures The SEC filed the civil complaint in Austin, Texas, over the initial coin...Read More
The United States Securities Exchange Commission (SEC) has filed a lawsuit against prominent crypto influencer, investor, and entrepreneur Ian Ballina over an initial coin offering (ICO) dating back to 2018. The SEC accused Ballina purchased $5 million worth of SPRK tokens from Sparkster Ltd. and received 30% bonus tokens before he started promoting it on...Read More
Ripple has filed a motion seeking dismissal of the suit ahead of the trial in federal court in Manhattan. The blockchain firm contended that the crypto-asset at the center of the ongoing legal battle – XRP – cannot be considered a security. In a recent filing over the weekend, Ripple argued that there was no...Read More
The Securities and Exchange Commission launched a lawsuit again two advisory companies and their owner for running a Ponzi-like cryptocurrency scheme. The firms operated for over four years and manage to raise nearly $4.4 million. The lawsuit is against Creative Advancement LLC and Edelman Blockchain Advisors LLC as well as their owner – Gabriel Edelman....Read More
Following the recent long-awaited update to the Ethereum network – which saw the network move from proof-of-work to proof-of-stake – SEC Chairman Gary Gensler spoke out about the change, hinting that it might be enough to push Ethereum out of its current legislative bracket and into that of securities. Post-Update ETH May Pass the Howey...Read More
UK-based asset management company Brevan Howard has revealed details of its $1-billion crypto hedge fund that has been in the news lately. $1 Billion Crypto Fund In a statutory filing with US Securities and Exchange Commission (SEC), Braven Howard, a global asset manager with $25 billion in assets under management (AUM), provided details of two...Read More
Global investment manager VanEck has once again been made to wait longer for the U.S. Securities and Exchange Commission (SEC) to decide on the company’s latest Bitcoin exchange-traded product (ETF) application. The watchdog refuses to approve a spot Bitcoin ETF in the country, while it has granted a few futures-based ones. The SEC announced in...Read More
The U.S. Securities and Exchange Commission (SEC) has filed charges against entities related to Dragonchain along with the founder and controlling person, John Joseph Roets, alleging that the defendants conducted an unregistered cryptocurrency offering. The SEC filed the complaint in the U.S. District Court for the Western District of Washington on Tuesday (August 16, 2022)....Read More
The US Securities and Exchange Commission (SEC) suffered a major setback as Magistrate Judge Sarah Netburn granted Ripple’s appeal to serve subpoenas and authenticate videos of public remarks made by the regulatory agency’s officials. The payment giant is set to serve two subpoenas to at least seven SEC officials. The Judge presiding over the high-profile...Read More
The American subsidiary of the world’s leading cryptocurrency exchange – Binance US – disclosed it will no longer support the Amp token (AMP) on its platform. The decision comes as a result of the US Securities and Exchange Commission’s recent insider-trading case, which identified the asset as a security. The financial regulator named nine tokens...Read More
The litigation between the US Securities and Exchange Commission (SEC) and the San Francisco-based blockchain company Ripple took a new turn. The regulator’s motion to revoke the amici curiae status granted to XRP holders was dismissed by Federal District Judge Analisa Torres. According to the defense lawyer James K. Filan, the motion to prevent attorney...Read More
Coinbase (COIN) closed at $52.93 on Tuesday – 21% down from the day’s starting price of $61.74. It is now down 75% on the year, and 84% down from its all-time high. The decline is likely related to the Securities and Exchange Commission (SEC)’s newly revealed probe against the popular exchange. The regulator believes that...Read More
Thailand’s Securities and Exchange Commission (SEC) is concerned that some Zipmex users may have lost funds after the exchange briefly halted withdrawals and other services last week due to extreme market conditions. Thai SEC Launches Online Forum for Zipmex Users The regulator announced on Monday that it is collaborating with law enforcement to collect data...Read More
By Paul Grewal, Chief Legal Officer Tl;dr: Coinbase does not list securities on its platform. Period. We have said it before, but given today’s events, it bears repeating. Earlier today, following a Department of Justice (DOJ) investigation into a former Coinbase employee’s misuse of confidential Coinbase information related to listing decisions, the Securities and Exchange...Read More
The pro-crypto regulatory framework proposed by U.S. Senators Cynthia Lummis and Kirsten Gillibrand is unlikely to see the light of day this year. Wyoming Senator Cynthia Lummis said on July 19 that the U.S. Senate is unlikely to vote on the bill this year. “It’s a big topic, it’s comprehensive, and it’s still new to...Read More
ARK Investment Management – a company spearheaded by fund manager Cathie Wood – will reportedly have to wait longer than expected to hear the US SEC’s decision on whether it can launch a spot Bitcoin Exchange Traded Fund (ETF). In May this year, the firm once again displayed its ambitions to introduce a product that...Read More
In the ongoing US Securities Exchange Commission (SEC) vs. Ripple Labs case, Magistrate Judge Sarah Netburn, on July 12, dismissed the agency’s appeal for the protection of William Hinman’s speech from disclosure. “This argument was previously raised secondarily, with the SEC primarily asserting the deliberative process privilege. The SEC’s motion is DENIED,” she said. The court...Read More
This year, the majority of the crypto community had hoped for the Securities and Exchange Commission to have a more lenient approach as far as Bitcoin ETFs are concerned. That came after several companies applied for the same at the beginning of the year. Among them included Valkyrie, VanEck, Grayscale, Teucrium, and Global X, among...Read More
On Thursday, investment company Jacobi Asset Management announced it would launch a Bitcoin Exchange-Traded Fund (ETF) on the Euronext Amsterdam Exchange in July. Jacobi to Launch Europe’s First Bitcoin ETF The firm’s official announcement noted that the new fund is called the Jacobi Bitcoin ETF and will trade under the ticker BCOIN. The product will...Read More
On June 29, the U.S. securities regulator rejected the proposal by Grayscale to list a spot Bitcoin exchange-traded fund (ETF) on the NYSE Arca exchange. According to the SEC, the proposal did not meet standards designed to prevent fraudulent and manipulative market practices. It stated that the rejection was not based on an “assessment of...Read More
The lawsuit filed by the SEC in December 2020, alleging that Ripple Labs Inc, Brad Garlinghouse, and Chris Larsen illegally used XRP as unregistered security to raise $1.3 billion, continues to be delayed to such an extent that The CEO of Ripple is threatening with the possibility of leaving the country in the event that...Read More
Securities and Exchange Commission (SEC) Chairman Gary Gensler recently confirmed that he believes Bitcoin is best classified as a commodity, rather than a security. However, he refused to comment on the classification of any other cryptos, leaving the status of altcoins like Ethereum still unclear. Bitcoin VS The Rest In an interview with CNBC on...Read More
US Securities and Exchange Commission (SEC) Chair Gary Gensler has sought a formal cooperation between financial agencies to regulate the crypto assets effectively. One Rulebook for Crypto Trade According to a news report in the Financial Times, Gensler said there should be one rule book so that bad actors don’t make use of regulatory gaps and...Read More
Michael Sonnenshein, the CEO of the leading crypto asset manager, Grayscale Investments, believes the launch of ProShares’ Short Bitcoin Exchange-Traded Fund (ETF) could be a positive sign for the industry. SEC Becoming More Comfortable With Bitcoin In a Twitter thread on Tuesday, Sonnenshein noted that he believes the United States Securities and Exchange Commission (SEC)...Read More
Despite her bullish defense of the crypto industry’s growth, Securities and Exchange Commission (SEC) commissioner Hester Peirce – aka “Crypto Mom ” – would never support bailing it out of a crisis. On Friday, she claimed that its lack of such a mechanism is actually a strength of the marketplace. Letting Bad Companies Fail In...Read More
SEC Commissioner Hester Peirce, famously known as “crypto mom” due to her years-long supportive attitude toward the industry, slammed the top US securities watchdog for failing to greenlight spot bitcoin ETFs. She said the organization should have proactively provided guidelines and regulatory clarity for funds and exchanges that aim to launch such a product. On...Read More
Gary Gensler – Chairman of the Securities and Exchange Commission (SEC) – spoke about crypto during the RFK Human Rights Compass Summer Investors Conference on Tuesday. He cautioned the public about the returns that some companies within the crypto space are promising, which he views as “too good to be true.” Too Good to be...Read More
A recent court ruling has granted an application by the Securities and Exchange Commission (SEC) to order Terraform Labs and its co-founder Do Kwon to comply with the agency’s investigative subpoenas. Court Rules in Favor of the SEC The United State Court of Appeals for the Second Circuit made the ruling on Wednesday (June 8,...Read More
Senator Kirsten Gillibrand – co-author of the landmark crypto regulation bill revealed yesterday – claims that both the SEC and CFTC chairmen agree on Bitcoin and Ether’s status as commodities. However, both she and Senator Cynthia Lummis also agree that most other cryptocurrencies are securities. Ethereum in the Clear Senators Gillibrand and Lummis discussed their...Read More
