Tag: SEC

Fed, SEC investigate Goldman Sachs over Silicon Valley Bank’s securities portfolio: Report

Goldman Sachs is currently facing scrutiny from the Federal Reserve and Securities and Exchange Commission (SEC) regarding its involvement in the purchase of Silicon Valley Bank’s securities portfolio prior to the bank’s collapse, The Wall Street Journal has reported, citing sources familiar with the matter. Breaking: Goldman Sachs is being investigated by the Federal Reserve and the Securities and Exchange Commission over its role in Silicon Valley Bank’s final days https://t.co/L7buF8TfvX — The Wall Street Journal (@WSJ) June 15, 2023 According to the report, both agencies are investigating Goldman Sachs’ actions…

Crypto Lobbyists ask SEC for Info on Prometheum, Mysterious ‘Regulated’ Crypto Firm

Above all, many have questioned whether Prometheum has been accurate in presenting itself as a fully regulated crypto exchange, a claim that supports the SEC’s ongoing enforcement agenda. Despite this self-characterization, Prometheum is not currently operational, and there are major unanswered questions about its path forward. Source CryptoFirmInfoLobbyistsMysteriousPrometheumRegulatedSEC CryptoX Portal

Crypto Exchange Binance.U.S. Cuts Staff After SEC Sui

“As part of this transition, and because of our preparation for a multi-year and very costly litigation process, the Board has asked Management to shrink the size of our teams across the company and reduce our burn rate,” read the documents. “Unlike every other U.S. crypto company, we have been working to avoid this scenario, but circumstances have now shifted. This was a very hard decision – one that we didn’t take lightly. We are sad to see our colleagues depart, but we wish them the best and will do…

Binance launches Bitcoin mining cloud services amid SEC crackdown in the US

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Crypto exchange Binance announced the launch of new subscription-based could mining products dedicated to Bitcoin (BTC) mining.  Starting June 15, users that are interested in Bitcoin mining but lack the equipment can subscribe to Binance’s cloud mining services and purchase hashrates for the same. Hashrate is the computing power required for confirming and legitimizing Bitcoin transactions over the blockchain. Binance is currently selling 1 Terahash per second (Th/s) at $10.7280, which is split between the hashrate and electricity costs at $1.17 and $9.558 respectively. A higher number of hashrate increases…

‘Who the hell’ is Prometheum and what did it say to Congress about SEC compliance?

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The relatively under-the-radar crypto company Prometheum has been thrust into the spotlight after a recent testimony from its co-founder before a United States House Committee, discussing crypto regulatory clarity. On June 13, Prometheum co-founder and co-CEO Aaron Kaplan appeared before the U.S. House at a hearing to discuss providing regulatory clarity to the crypto industry. Contrary to recent commentary from crypto industry players such as Coinbase, Kaplan’s testimony appears to be supportive of regulating crypto under current securities laws — a view also shared by the Securities and Exchange Commission…

XRP Price Tumbles 8%, Erasing Gains from ‘Hinman Emails’ in Ripple vs SEC Lawsuit

XRP’s sharp downturn happened as bitcoin (BTC) and ether (ETH), the two leading cryptocurrencies by market capitalization, lost key price levels Wednesday afternoon after the Federal Reserve’s latest interest rate decision. Despite the Fed pausing its rate hike campaign after 14 months, an event most traders thought would be bullish for prices, BTC and ETH dropped below $25,000 and $1,700, respectively, to 3-month lows. Source

Requiring DEXes to register with SEC like other exchanges is ‘impossible’, says Coinbase CLO

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Paul Grewal, chief legal officer of United States-based cryptocurrency firm Coinbase, has pushed back against a proposed rule change from the Securities and Exchange Commission (SEC) which could change the definition of an exchange and how digital assets are regulated. In a June 14 Twitter thread, Grewal said the SEC proposal “tries to fit a square peg in a round hole” and was “too flawed on process and substance to move forward”. He was referring to the SEC extending the comment period for a proposed rule change in the Securities…