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Institutional FX

SVB Financial Executives' Share Sales under Scrutiny in Ongoing SEC and DoJ Probes

DoJ and SEC join Fed in examining the SVB's crisis.
Investigations include reviewing SVB Financial executives' shares sales before the collapse.

Wednesday, 15/03/2023 | 09:43 GMT by Damian Chmiel

Institutional FX

Credit Suisse Highlights "Material Weakness" in Delayed Annual Report

The lender's shares are testing all-time lows.
The collapse of SVB only makes the troubled bank's situation worse.

Tuesday, 14/03/2023 | 10:43 GMT by Damian Chmiel

Institutional FX

Credit Suisse Delays Annual Report and Cuts Investment Banking Jobs

CS shares fell after the SEC call forced the lender to delay its report.
Additionally, the bank is cutting other investment banking jobs.

Thursday, 09/03/2023 | 12:05 GMT by Damian Chmiel

CryptoCurrency

Binance Talks about Compliance Gaps and Expects to Pay Penalties

The company's CSO confirmed that in the past, Binance had small "gaps" in its regulatory compliance.
Crypto exchange expects to pay penalties to resolve the US investigations.

Thursday, 16/02/2023 | 12:40 GMT by Damian Chmiel

CryptoCurrency

Paxos Stops BUSD Mint after SEC Action, Binance's CZ Calms "Funds Are Safe"

SEC's decision might change the broad picture of the crypto industry.
If recognized as securities, BUSD will have to be withdrawn from the Binance offering.

Monday, 13/02/2023 | 12:36 GMT by Damian Chmiel

CryptoCurrency

Kraken Shuts Staking-as-a-Service in US amid $30M SEC Settlement

The exchange will continue to offer staking for non-US customers.
The SEC raised concerns about the risks of staking-as-a-service platforms.

Friday, 10/02/2023 | 06:54 GMT by Arnab Shome

CryptoCurrency

Kraken Faces SEC Probe over Unregistered Securities Listings

Neither the regulator nor the exchange officially confirmed the investigation.
The probe is believed to be in advanced stages with possibilities of a settlement.

Thursday, 09/02/2023 | 07:31 GMT by Arnab Shome

Institutional FX

Regulators Slapped Industry with Record Fines in 2022, SEC in the Lead

WhatsApp crackdown amounted to fines of $1.1 billion.
Also, European regulators imposed high penalties although visibly lower than the SEC.

Tuesday, 31/01/2023 | 12:17 GMT by Damian Chmiel

CryptoCurrency

Mutant Ape Planet NFT Creator Aurelien Michel Arrested at JFK Airport

It is alleged Michel defrauded investors of $2.9 million.
The 24-year-old French national resided in UAE.

Friday, 06/01/2023 | 17:04 GMT by Finance Magnates Staff

CryptoCurrency

SEC Charges Thor Token Creators for $2.6m ICO

ICO took place in 2018, involving 1,600 investors.
One of the defendants decided to take a plea deal with the SEC.

Thursday, 22/12/2022 | 11:43 GMT by Damian Chmiel

Op-ed

CryptoCurrency

Op-ed

Strange Days in Crypto as Citizen Journalism Takes Over

There is stark contrast between mainstream and alternative media around coverage of FTX.
Alternative media has been investigative, analytical, critical and playing a vital role.

Thursday, 01/12/2022 | 17:00 GMT by Sam White

CryptoCurrency

Crypto Ponzi Scheme Defrauded $295m in BTC. The SEC Charged Its Creator

The trading bot was supposed to auto-invest, however, the money never hit the market.
A huge part of the embezzled BTC went strait to the Ponzi scheme creator and promoters.

Monday, 07/11/2022 | 09:02 GMT by Damian Chmiel

Op-ed

CryptoCurrency

Op-ed

The SEC vs The Metaverse

Yuga Labs, creator of Bored Ape Yacht Club and Otherside, is reportedly under SEC investigation.
To be officially overseen, NFTs and metaverse projects may require new regulatory frameworks.

Thursday, 13/10/2022 | 15:30 GMT by Sam White

News

Sparkster Agrees to Pay $35 Million to Harmed Investor Fund

The commission has recently issued a cease-and-desist order against the company and its CEO.
According to the order, Sparkster and its CEO raised almost $30 million from 4,000 investors.

Tuesday, 20/09/2022 | 08:15 GMT by Bilal Jafar

Institutional FX

SEC Announces Whistleblower Program Amendments

The authority has adopted two amendments.
The new amendments will become effective 30 days after publication in the Federal Register.

Saturday, 27/08/2022 | 11:54 GMT by Bilal Jafar

CryptoCurrency

The SEC and CFTC Propose Amending Form PF, Cryptocurrency Exposure to Be Included

Material events will require reporting within one business day.
Withdrawal and redemption rights, inflows and outflows must now be reported.

Thursday, 11/08/2022 | 08:46 GMT by Matti Williamson

Guest post

CryptoCurrency

Guest post

Gensler Wants More Funds for the SEC to Protect Crypto Investors Further

Gensler said that most crypto offerings come under the purview of the SEC's securities policy.
Gensler intends to use the funds to bolster the agency's resources so they can better safeguard crypto investors.

Friday, 03/06/2022 | 11:04 GMT by Paul Adedoyin

Institutional FX

US Regulators Probe into Morgan Stanley and Goldman Sachs Block Trades

Regulators have been investigating unusual activities in block trades for almost 3 years.
The SEC issued subpoenas to Goldman Sachs, Morgan Stanley and hedge funds.

Tuesday, 15/02/2022 | 10:24 GMT by Matti Williamson

Retail FX

SEC Charges Financial Advisor in $5.8 Million Fraud

German Nino stole $5.8 million from a long-standing client.
He also created fake account statements.

Tuesday, 25/01/2022 | 08:02 GMT by Bilal Jafar

Executive Moves

SEC Selects Corey Frayer as Senior Advisor to Gary Gensler

Frayer will advise Gensler on crypto policymaking.
Phil Havenstein and Jennifer Songer also joined Gensler’s executive staff.

Friday, 31/12/2021 | 06:33 GMT by Bilal Jafar

FinTech

Valkyrie Launches VBB ETF to Allow Investors Gain Exposure to Bitcoin

VBB wants to offer investors exposure to publicly traded companies that hold Bitcoin.
The product will give investors indirect exposure to Bitcoin.

Thursday, 16/12/2021 | 06:50 GMT by Nicholas Otieno

Executive Moves

FTX US Hires Mark Wetjen as the New Head of Policy and Regulatory Strategy

Wetjen brings extensive experience in the practice of law, policy making, regulatory strategy and exchange operations.

Tuesday, 02/11/2021 | 14:35 GMT by Tom Hazan

News

Bitcoin and Other Cryptocurrencies Are Speculative Assets, Says SEC Chair

Gary Gensler highlighted some regulatory gaps regarding the crypto market.

Thursday, 05/08/2021 | 05:35 GMT by Bilal Jafar

Thought Leaders

SEC vs. Ripple: Why It Affects Us All

What happens next in the SEC vs. Ripple case could send shockwaves through the crypto industry.

Tuesday, 20/07/2021 | 09:25 GMT by Finance Magnates Staff

CryptoCurrency

XRP Soars 38% after Key Legal Wins

XRP price has risen around 550% so far in 2021.

Sunday, 11/04/2021 | 06:57 GMT by Finance Magnates Staff

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