Tag: SEC

SEC Slams Neil Chandran, 4 Others with Fresh Charges in $45M Blockchain Scam

The regulator will seek to fine appropriately, all the parties involved, and recover whatever is left of the stolen investors’ funds. The US Securities and Exchange Commission (SEC) has newly charged Neil Chandran and four other associates for orchestrating a fraudulent scheme. According to the press release, Chandran and others successfully convinced tens of thousands of investors around the world about securing a highly profitable deal. The deal revolved around selling fake blockchain technology. However, the false promises eventually saw the bad actors scam their victims for well over $45…

SEC Puts Objection to Binance.US $1 Billion Acquisition Deal for Voyager Assets

The SEC wants to know how Binance.US is going to facilitate such a huge transaction. Last month, Binance.US proposed a $1 billion acquisition deal to get its hands on the assets of bankrupt crypto lender Voyager Digital. Although Voyager was ok with proceeding with the deal, the US Securities and Exchange Commission (SEC) has now come in the way. On Wednesday, January 4, the SEC filed a limited objection over the acquisition while questioning the adequacy of the information furnished by Binance.US in its disclosure statement. The SEC has specifically…

SEC files objection to Binance.US’s plans to acquire Voyager Digital

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The United States Securities and Exchange Commission (SEC) has filed a “limited objection” to crypto exchange Binance.US’s proposed $1 billion takeover of bankrupt crypto lender Voyager Digital, citing a lack of “necessary information.” The limited objection was filed on Jan. 4, with the SEC pointing to a lack of detail regarding Binance.US’s ability to fund the acquisition, what Binance.US’s operations would look like following the deal, and how customer assets will be secured during and after the transaction. A limited objection is similar to a normal objection but only applies…

SEC Pursues $45M Scam Based in Fake Blockchain Technology

“We allege the defendants falsely claimed access to valuable blockchain technology and that the imminent sale of the technology would generate investment returns of more than 500,000 times for investors,” said Daniel Gregus, Director of the SEC’s Chicago Regional Office. The money actually went to purchase luxury cars, real estate and a boat for the personal use of Chandran and the others, in addition to being misappropriated for his other businesses, according to the SEC and Department of Justice. Source

Robert Kiyosaki Buying More Bitcoin — Warns SEC Regulations Will Crush Most Cryptocurrencies – Regulation Bitcoin News

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The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, has revealed why he is buying more bitcoin. He warned that the Securities and Exchange Commission (SEC) regulations will “crush” most other cryptocurrencies. Robert Kiyosaki Buys More Bitcoin, Warns About SEC Regulations Crushing Crypto Tokens The author of Rich Dad Poor Dad, Robert Kiyosaki, has revealed the key reason why he is investing in bitcoin. The famous author warned that the Securities and Exchange Commission (SEC) will “crush” most other crypto tokens with its regulations. Rich Dad…

XRP Lawyer Says SEC Chair Gary Gensler Will Drive Crypto Prices Lower With Future Lawsuit Against an Exchange

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Attorney and XRP supporter John Deaton thinks Gary Gensler, the chair of the U.S. Securities and Exchange Commission (SEC), will pursue more regulatory action that will drive crypto prices lower. Deaton says he expects Gensler to sue a crypto exchange and argues that most of the exchange’s tokens are unregistered securities. Consequently, he believes crypto prices could plummet even further, allowing traditional financial institutions like Goldman Sachs or JPMorgan Chase to buy up shares in the sector. “I’ve been saying for a year that this was the plan. Once the market…

Philippine SEC warns against unlicensed crypto exchanges amid FTX collapse

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After the height of the FTX collapse, the Philippine government warned investors within the country about using unlicensed crypto exchanges.  The Securities and Exchanges Commission (SEC) in the Philippines issued an advisory to the public against using unregistered cryptocurrency exchanges that are operating within the country. Within the warning, the SEC did not directly mention the FTX exchange but said that the warning considers “the recent collapse of a large international cryptocurrency exchange.” Citing the laws within the country, the government agency reiterated that any entity intending to conduct business…

SEC seeks to keep Hinman documents hidden in Ripple case

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The United States Securities and Exchange Commission (SEC) has requested to seal the infamous Hinman Speech documents, claiming that they are not relevant to the court’s summary judgment decision. The Motion to Seal Summary Judgment Document was filed by the SEC on Dec. 22, requesting the sealing of various information and documents, most notably the Hinman Speech documents. The Hinman Speech documents refer to the speech given by former SEC Corporation Finance Division Director William Hinman at the Yahoo Finance All Markets Summit in June 2018, where he reportedly stated…

SEC Charges Gig Economy Platform for $2.6 Million Unregistered Coin Offering – Bitcoin News

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The U.S. Securities and Exchange Commission (SEC) has charged Thor Technologies and its co-founders with conducting an unregistered securities offering. In 2018, the company minted and sold tokens to raise funds for its ‘gig economy platform,’ the development of which had not even started at the time. U.S. Securities Regulator Accuses Thor Technologies’ Management of Conducting Unregistered ICO The Securities and Exchange Commission of the United States has charged Thor Technologies, its co-founder and CEO David Chin and Matthew Moravec, co-founder and former CTO, with carrying out an unregistered offering…