Tag: SEC

Grayscale and the SEC are going to court over a bitcoin ETF

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The years-long push for an exchange traded fund that tracks bitcoin will finally get its day in court this week. Several different firms tried to bring a spot bitcoin ETF to market in the U.S. without success, but Grayscale Investments is taking it a step further for the future of its Grayscale Bitcoin Trust (GBTC) . After Grayscale’s proposal to convert the trust to an ETF was rejected last June, the firm sued the U.S. Securities and Exchange Commission in the D.C. Circuit Court of Appeals. Oral arguments are set to…

SEC Files Emergency Action Against BKCoin for Running $100M ‘Ponzi-Like’ Scheme

The SEC has accused Kang of misappropriating at least $371,000 in customer funds for his personal use, including paying for vacations, tickets to sporting events and rent on his New York apartment. According to the SEC, Kang tried to cover his tracks by giving investors falsified documents with “inflated bank account balances.” He also allegedly told investors that BKCoin had been audited by a “top four auditor,” which the SEC said never happened. Source

SEC continues streak of enforcement actions, targets BKCoin for alleged $100M fraud

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The United States Securities and Exchange Commission, or SEC, has targeted an investment adviser and individual allegedly connected to a $100-million cryptocurrency fraud in its latest enforcement action. According to a March 6 announcement, the SEC filed an emergency action on Feb. 23 against investment adviser BKCoin and one of the principals Kevin Kang, alleging the two “disregarded the structure of the funds, commingled investor assets, and used more than $3.6 million to make Ponzi-like payments to fund investors”. The financial regulator’s complaint alleged that BKCoin raised roughly $100 million…

Ripple CEO Warns of Harm to Crypto Industry if SEC Wins Lawsuit Over XRP – Regulation Bitcoin News

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The CEO of Ripple Labs has warned of the harm to the crypto industry if the U.S. Securities and Exchange Commission (SEC) is able to prevail in its lawsuit against Ripple over xrp. He cautioned that the SEC’s enforcement-centric approach to regulating crypto “is not a healthy way to regulate an industry.” Ripple’s CEO on SEC Lawsuit, U.S. Crypto Regulation Ripple CEO Brad Garlinghouse warned about harmful consequences to the crypto industry if the U.S. Securities and Exchange Commission (SEC) wins its lawsuit against him and his company over the…

Voyager Digital dumps 1,449 ETH as the SEC opposes the $1b Binance US takeover deal

On Mar. 4, Voyager Digital, the bankrupt crypto broker, sold 1,449 ethereum (ETH) via Wintermute, a crypto market maker and a proprietary trading platform, and received 2.25m USDC, a stablecoin. Voyager Digital is selling tokens Per onchain data on Mar. 4, Voyager Digital remains one of the largest crypto whales. The broker holds 148,774 ETH worth over $233.5m, 5.17t SHIB, worth $57.78m, 1.44m LINK estimated at $10m, and other tokens and coins, including avalanche (AVAX) and STMX. The liquidation comes when ETH prices are under pressure, sliding from recent highs…

SEC Official Says Binance US Is Operating ‘Unregistered Securities Exchange’

CryptoX – Cryptocurrency Analysis and News Portal “The staff believes – based solely on the facts and circumstances currently known to the staff – that the offering and sale of VGX tokens has the attributes of a securities transaction,” he said. “The staff also believes that Binance US is operating an unregistered securities exchange in the United States.” Source The post SEC Official Says Binance US Is Operating ‘Unregistered Securities Exchange’ appeared first on CryptoX. CryptoX Portal

US Judge Condemns SEC for Objecting to Voyager Digital’s Deal with Binance

US Judge Condemns SEC for Objecting to Voyager Digital’s Deal with Binance. A US judge has countered the action by the SEC to oppose the deal between crypto lender Voyager Digital and crypto company Binance. In December 2022, Voyager announced that it had selected Binance.US as the best and highest bid for its assets. The deal is worth $1.022 billion and is set to help the crypto lender’s customers access their funds as soon as possible. Under the agreement, the US arm of the crypto exchange was to make a good faith…