Massachusetts Republican Senate candidate John Deaton has indicated his intention to hold the U.S. Securities and Exchange Commission (SEC) accountable for its role in wiping out $15 billion from XRP retail investors. In a September 16 interview on the “Good Morning Crypto Show,” the lawyer made it clear that he’s ready to continue his battle...Read More
Bitfinex, one of the oldest cryptocurrency exchanges, has announced the launch of a securities trading platform in El Salvador, the first country to recognize bitcoin (BTC) as legal tender. According to a press release seen by CryptoPotato, Bitfinex Securities El Salvador will be the Central American country’s first registered and licensed digital assets service provider....Read More
If American regulators were aiming to crash crypto markets and generate losses by instilling fear in investors, they are achieving their goal. Cryptocurrency markets have shed $55 billion or around 5% since the Securities and Exchange Commission sued Binance for violating securities laws. As a result, total capitalization has dropped to $1.13 trillion, its lowest...Read More
Last September, the SEC took the Hydrogen Technology Corporation and its CEO, Michael Ross Kane, to court for the alleged price manipulation of the firm’s proprietary token, HYDRO. Proven Manipulation Of Market Value According to the charges, Kane used services offered by Moonwalkers Trading Ltd, a South African company, without a clear legitimate business purpose...Read More
Research by the Boston Consulting Group (BCG) suggests that the tokenization of global illiquid assets could become a $16 trillion industry by 2030. Real-world assets include equities, bonds, investment funds, and other financial instruments. They can also include commodities such as gold and silver and real estate. Furthermore, analysts are predicting that this will become...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
Gary Gensler made a big announcement on October 3, saying the US media personality and reality star Kim Kardashian had settled with the agency in a fraudulent crypto promotional case. However, a Fox reporter now claimed that the SEC Chair had violated protocol by overhyping the settlement for his personal political agenda. Gensler Did it...Read More
The US Securities and Exchange Commission brought charges against Kim Kardashian for promoting a crypto security – Ethereum Max. The popular US media personality, model, and businesswoman agreed to pay $1.26 million to settle the charges. CryptoPotato reported in January this year a lawsuit filed in California against Floyd Mayweather and Kim Kardashian, claiming that...Read More
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
Global investment giant KKR & Co has partnered with digital asset management firm Securitize to tokenize its private equity fund on a public blockchain network. According to an official press release, the partnership will allow the KKR to tokenize its second Health Care Strategic Growth Fund on the Avalanche blockchain, making it accessible to investors...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
The multinational financial services firm Citibank has partnered with METACO – a digital asset custody provider – to start developing and piloting digital asset custody services. In a press release from Citi, the bank revealed that the companies will work together to build a platform that lets clients securely store and settle digital assets. The...Read More
Three Coinbase users are attempting to sue the company over 79 crypto tokens listed on the platform. They may be considered securities, and therefore, the sales could be deemed unlawful according to the suit. The trio, Christopher Underwood, Louis Oberlander, and Henry Rodriguez, filed the class action last week with the district court in the...Read More
Originally planned for a March 15 launch, the Symbol platform is finally on mainnet following almost four years of development. The proof-of-stake enterprise grade blockchain enables the creation of specialized crypto assets with configurable properties that can act as security tokens. It is an evolution of the original NEM blockchain which was launched in March...Read More
William Hinman, a director of the U.S. Securities and Exchange Commission (SEC) known for his statements in favor of greater clarity for the crypto ecosystem and other ICOs and fintech, announced his intentions to leave his post in the upcoming months. Since 2017, Hinman has served as a director of the SEC’s Division of Corporation...Read More
The story of the legal battle between Kik and the SEC seems to be coming to an end. Today, the SEC filed a motion with the Southern District Court of New York to close the case with a $5 million fine. Kik was being sued for issuing and selling unregistered securities through the ICO of...Read More
The Securities and Exchange Commission (SEC) of the US is tightening the noose around initial exchange offerings (ICOs). In yet another step against them, the Commission has brought charges against one more allegedly fraudulent ICO of unregistered digital asset securities. The SEC Is Getting Serious About ICOs The SEC has pressed charges against defendants Sergii...Read More
The critical situation between Telegram and the U.S. Securities and Exchange Commission (SEC) took another step forward. The market regulator now claims that the popular messaging company saw its upcoming Gram token as securities and thus should fall under established regulations. Is Gram Token A Security? Telegram’s controversy regarding its TON blockchain and its native...Read More
Remember 2018? Time was when you could buy a decent car with a single bitcoin, or a beater for an ether. Everyone was ready to get crypto-rich, and even ICO’s were to be redeemed by a new financial vehicle: the Security Token Offering. STO’s emerged from the regulatory uncertainty of 2018, as the SEC-friendly younger...Read More
Here’s a riddle for you: what does Monero’s Fluffypony have in common with former Capital One Vice President Alan Silbert, as well as Charlie Lee? Besides an oversized presence on crypto Twitter, all three are listed on the paperwork for crypto’s latest three-letter fad: an IPO. Crypto trading platform INX has applied to the U.S....Read More
INX Limited, a crypto exchange startup, plans to raise up to $129.5 million through an IPO, in the first security token sale registered with the U.S. Securities and Exchange Commission (SEC). No, that’s not a typo for “ICO,” the initial coin offerings that tested the limits of securities law during the go-go days of 2017. IPO...Read More
