Tag: SEC

Publicly Listed Bitcoin Miner Core Scientific Publishes Update After SEC Filing That Mentions ‘Restructuring’ – Mining Bitcoin News

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On Nov. 7, 2022, the bitcoin mining firm Core Scientific released the company’s October update after the company’s Form 8-K U.S. Securities and Exchange Commission (SEC) filing on Oct. 26, 2022. The filing noted that the company was in the process of exploring “restructuring its existing capital structure.” The update published on Monday indicates that Core Scientific sold 2,285 bitcoins at an average price of $19,639 per bitcoin. Core Scientific Releases October Update On Oct. 29, Bitcoin.com News reported on the bitcoin mining firm Core Scientific (Nasdaq: CORZ), as the…

Investors increasingly confident of Ripple’s victory over SEC: CoinShares

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Recent developments in the Ripple vs. Securities and Exchange Commission (SEC) case appear to have bolstered investor confidence in XRP (XRP)-tied investment products, according to investment data from CoinShares’ head of research, James Butterfill.  In its latest Digital Asset Fund Flows published on Nov. 7, Butterfill noted that XRP investment products have seen a third consecutive week of institutional inflows, clocking $1.1 million. Butterfill said the figures imply “improving investor confidence as the SEC case against Ripple looks increasingly fragile.” The last few weeks have seen Ripple Labs gaining increasing…

US Lawmakers ‘Deeply Concerned’ That SEC Is Enacting Rules Too Quickly, Without Sufficient Feedback – Regulation Bitcoin News

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Two U.S. lawmakers have requested answers from the Securities and Exchange Commission (SEC) about its rulemaking process. Their request followed the latest SEC Inspector General report that “raises significant concerns that the agency is trying to enact too many rules, too quickly.” ‘SEC Is Enacting Rules Without Sufficient Feedback’ U.S. Senator Pat Toomey (R-PA) and Representative Patrick McHenry (R-NC) sent a letter to the chairman of the Securities and Exchange Commission (SEC), Gary Gensler, requesting information regarding the agency’s rulemaking process on Wednesday. The letter references several issues identified in…

Judge rules LBRY video platform’s token is a security in case brought by the US SEC

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A United States District Court ruled in favor of the Securities and Exchange Commission (SEC) Nov. 7 in its case against blockchain-based file-sharing and payment network LBRY. The court granted the SEC’s request for a summary judgment filed May 5. The SEC sued developer LBRY, Inc. in March 2021 — after the agency had brought similar charges against Ripple — claiming that its LBRY Credit token (LBC) was sold as a security under the 1933 Securities Act.  According to the SEC, LBRY raised more than $11 million in U.S. dollars,…

New Hampshire Court Sides With SEC in Lawsuit Against LBRY, Project’s Team Says Loss Sets a ‘Dangerous Precedent’ – Regulation Bitcoin News

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The U.S. Securities and Exchange Commission (SEC) has won a court case against the blockchain-powered publishing platform LBRY. According to a New Hampshire district court ruling, Judge Paul Barbadoro agreed with SEC that the project’s native asset LBC was considered an investment contract or a transferable share representing a certificate of interest. On Twitter, LBRY said the language used to sway the court’s decision “sets an extraordinarily dangerous precedent.” U.S. Regulator Wins Judgement Against Decentralized Blockchain Platform LBRY According to court documents, the U.S. regulatory watchdog, the Securities and Exchange…

SEC issues subpoena to influencers promoting HEX, PulseChain and PulseX

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Over several years, social media influencers have earned a bad rep among regulators for shilling risky and unvetted tokens to millions of investors. Pursuing the crackdown on such scenarios, the U.S. Securities and Exchange Commission (SEC) reportedly issued a subpoena to influencers who were found promoting cryptocurrencies such as HEX, PulseChain and PulseX. Swedish researcher Eric Wall shared an official letter from the SEC dated Nov. 1, which was addressed to influencers. It read: “We believe that you may possess documents and data that are relevant to an ongoing investigation…

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

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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 against four people for their roles in a fraudulent crypto Ponzi scheme Friday. Douver Torres Braga, Joff Paradise, Keleionalani Akana Taylor, and Jonathan Tetreault were allegedly involved in Trade Coin Club, “a fraudulent crypto Ponzi…

Support for Ripple Grows in SEC Lawsuit Over XRP — CEO Says ‘It’s Unprecedented’ – Regulation Bitcoin News

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Support for Ripple Labs in its fight against the U.S. Securities and Exchange Commission (SEC) over xrp has grown, with 12 amicus briefs filed. “It’s unprecedented,” Ripple CEO Brad Garlinghouse said, adding that each brief explains in its own unique way “the irreparable harm the SEC will do to every facet of the U.S. crypto economy if it gets its way.” 12 Amicus Briefs Filed in Support of Ripple A growing number of amicus briefs have been filed in support of Ripple Labs as the company continues to fight the…

Web3 Foundation makes bold claim to SEC: ‘DOT is not a security. It is merely software’

According to CLO Daniel Schoenberger, the team developed a “workable theory of how token morphing may be achieved” for DOT based on the SEC’s concerns and federal securities laws. The entity supporting research and development of Polkadot as well as overseeing fundraising efforts for the blockchain has argued that the United States Securities and Exchange Commission should not consider the DOT token a security under its regulatory purview. In a Nov. 4 blog post, the Web3 Foundation Team’s chief legal officer Daniel Schoenberger said Polkadot’s native token (DOT) had “morphed”…

Web3 Foundation makes bold claim to SEC: ‘DOT is not a security. It is merely software’

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According to CLO Daniel Schoenberger, the team developed a “workable theory of how token morphing may be achieved” for DOT based on the SEC’s concerns and federal securities laws. The entity supporting research and development of Polkadot, as well as overseeing fundraising efforts for the blockchain, has argued that the United States Securities and Exchange Commission should not consider the Polkadot (DOT) token a security under its regulatory purview. In a Nov. 4 blog post, the Web3 Foundation Team’s chief legal officer Daniel Schoenberger said Polkadot’s native token had “morphed”…