SEC charges – DIGIT INFO

SEC Hits Market Makers With Fraud Charges for Misleading Crypto Investors

DIGIT — Sat, 12 Oct 2024 00:31:20 +0000

The U.S. Securities and Exchange Commission (SEC) has charged multiple market makers and individuals with manipulating crypto asset markets, alleging they created fake trading activity to mislead retail investors. These schemes, including practices like wash trading, aimed to fabricate the illusion of active trading, violating securities laws. The SEC seeks penalties, including bans and disgorgement, […]

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Curve Finance Proposal Eyes Reducing TUSD Exposure After SEC Settlement

DIGIT — Wed, 25 Sep 2024 20:46:23 +0000

Curve Finance is evaluating a proposal to reduce its reliance on the stablecoin TUSD following the resolution of U.S. Securities and Exchange Commission (SEC) charges against Trusttoken Inc. and Truecoin LLC, the companies behind the dollar-pegged token. TUSD Faces Removal From Curve Finance Pegkeeper The proposal, authored by Wormhole Oracle, suggests slashing the debt ceiling […]

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SEC Charges Defi Platform Rari Capital and Founders

DIGIT — Wed, 18 Sep 2024 21:20:02 +0000

The U.S. Securities and Exchange Commission (SEC) has announced charges against decentralized finance (defi) platform Rari Capital and its co-founders for misleading investors and operating as unregistered brokers. The settlement involves penalties, injunctions, and bars against the individuals involved, with violations stemming from unregistered securities offerings and deceptive practices. SEC Charges Defi Platform Rari Capital […]

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Digital Currency Group Suspends Dividends Amid Regulatory Trouble With Subsidiary Genesis

DIGIT — Wed, 18 Jan 2023 20:30:10 +0000

According to a shareholders’ letter from Digital Currency Group (DCG) viewed by finance and crypto publication Coindesk, the company has suspended dividends until further notice. This news follows the U.S. Securities and Exchange Commission (SEC) charging a subsidiary firm of DCG, Genesis Global Capital, with operating an “unregistered offer and sale of securities to retail […]

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FTX Co-Founder Indicted by Federal Grand Jury in Manhattan, Bahamian Magistrate Denies SBF’s Bail

DIGIT — Wed, 14 Dec 2022 00:30:01 +0000

On Dec. 13, 2022, the Southern District of New York (SDNY) prosecutor’s office and SDNY attorney Damian Williams revealed that the FTX co-founder Sam Bankman-Fried has been indicted for “fraud, money Laundering, and campaign finance offenses.” SDNY attorney Williams said that the case was not an issue of “mismanagement or poor oversight” but of “intentional […]

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CFTC Follows SEC by Filing a Lawsuit Against Disgraced FTX Co-Founder Sam Bankman-Fried

DIGIT — Tue, 13 Dec 2022 22:30:07 +0000

On Dec. 13, 2022, the U.S. Commodity Futures Trading Commission (CFTC) filed a lawsuit against Sam Bankman-Fried (SBF), FTX Trading LTD., and Alameda Research. The CFTC alleges that FTX customer deposits, “throughout the relevant period,” including both fiat currencies and cryptocurrencies, were reportedly “appropriated by Alameda for its own use.” U.S. Commodity Futures Trading Commission: […]

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Bahamian Government Officials Allegedly Asked SBF to Mint Millions of Dollars in New Tokens Amid the FTX Collapse

DIGIT — Tue, 13 Dec 2022 20:30:51 +0000

On Monday, court documents from lawyers involved with the FTX Trading LTD Chapter 11 bankruptcy case allege that the government of The Bahamas asked the disgraced FTX co-founder Sam Bankman-Fried (SBF) to mint new crypto tokens. The lawyers detailed that it was a “request for live, dynamic access that would be provided immediately to the […]

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US Securities Watchdog Charges Sam Bankman-Fried With Fraud Over FTX Collapse

DIGIT — Tue, 13 Dec 2022 15:00:21 +0000

According to a statement published on Dec. 13, 2022, the U.S. Securities and Exchange Commission (SEC) has charged the disgraced FTX co-founder Sam Bankman-Fried (SBF) with defrauding investors. SEC chairman Gary Gensler explained that the U.S. financial regulator alleges that SBF “built a house of cards on a foundation of deception.” U.S. SEC Contends Former […]

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SEC Charges 4 People in $295M Global Crypto Ponzi Scheme That Duped Over 100,000 Investors

DIGIT — Sun, 06 Nov 2022 07:30:12 +0000

The U.S. Securities and Exchange Commission (SEC) has charged four people for their roles in a global cryptocurrency Ponzi scheme that duped more than 100,000 investors worldwide. The scheme raised more than $295 million in bitcoin. SEC Says ‘Trade Coin Club’ Is a Crypto Ponzi Scheme The U.S. Securities and Exchange Commission (SEC) announced charges […]

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SEC Charges Token Listing Website With Unlawfully Touting Crypto Securities

DIGIT — Wed, 14 Jul 2021 23:00:21 +0000

The U.S. Securities and Exchange Commission (SEC) has charged a token listing website with unlawfully touting crypto securities. The site did not disclose that it was paid by the token issuers to profile their coin offerings. SEC Charges Website Touting Security Tokens Without Clarifying Which Tokens Are Securities The U.S. SEC announced Wednesday that a […]

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