Tag: SEC

Ripple Scores $15 Billion Valuation — CEO Says Financial Position Is Strongest Ever Despite SEC Lawsuit Over XRP – Altcoins Bitcoin News

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Ripple has bought back shares from its Series C funding round, which raised the company’s valuation to $15 billion, according to CEO Brad Garlinghouse. He added that despite the lawsuit by the U.S. Securities and Exchange Commission (SEC) over the status of XRP cryptocurrency, Ripple had the best year on record. Ripple’s $15 Billion Valuation and ‘Best Year on Record’ Ripple CEO Brad Garlinghouse announced via Twitter Wednesday that Ripple has bought back its Series C shares at a $15 billion valuation. The CEO described that “Even with 2021’s headwinds,…

SEC pushes decision on ARK 21Shares Bitcoin ETF to April 3

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The U.S. Securities and Exchange Commission has extended its window to approve the ARK 21Shares Bitcoin exchange-traded fund (ETF) originally proposed in July 2021. According to a Tuesday filing from the SEC, the regulatory body will push the deadline for approving or disapproving the ARK 21Shares Bitcoin ETF from Feb. 2 for an additional 60 days, to April 3. SEC Assistant Secretary J. Matthew DeLesDernier noted in the filing that it was “appropriate to designate a longer period” for the regulatory body to consider the proposed rule change, allowing the…

SEC Delays Decision on Bitcoin-Related ETFs From Ark 21 Shares, Teucrium

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The U.S. Securities and Exchange Commission (SEC) has again delayed decisions on whether to approve or reject bitcoin-related exchange traded funds (ETFs) from Ark 21 Shares and Teucrium. The SEC said in a filing Tuesday it was postponing a decision on the ARK 21Shares Bitcoin ETF until April 3. In a separate filing, the regulator said it’s delaying its decision on the Teucrium Bitcoin Futures Fund to April 8. SEC Chairman Gary Gensler reiterated his support last fall for a narrow class of bitcoin ETFs investing in futures contracts rather…

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SEC Has Taken 97 Crypto Enforcement Actions So Far — Crypto a Top Priority for Chairman Gensler – Regulation Bitcoin News

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The U.S. Securities and Exchange Commission (SEC) has brought 97 cryptocurrency enforcement actions so far. Furthermore, the securities regulator has imposed approximately $2.35 billion in total monetary penalties against digital asset market participants. 97 Crypto Enforcement Actions Cornerstone Research published a report titled “SEC Cryptocurrency Enforcement: 2021 Update” last week. The report analyzes SEC enforcement activities from July 2013 to December 2021, the company detailed, elaborating: Since the first action in July 2013, the SEC has brought a total of 97 enforcement actions as of December 31, 2021. According to…

Coinbase Taps SEC Counsel Thaya Knight to Manage Public Policy Team

Crypto exchange Coinbase (COIN) has hired former U.S. Securities and Exchange Commission (SEC) employee Thaya Knight as its senior public policy manager. Knight was the counsel to Commissioner Elad Roisman at the SEC since November 2020 and in a LinkedIn post, she said that Friday was her last day at the commission, noting “While that departure is bittersweet, I’m very pleased to be joining the public policy team at Coinbase this week.” On Friday, Roisman also left his position at the SEC, after serving as a commissioner since 2018 and…

SEC rejects MicroStrategy’s Bitcoin accounting practices: report

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Business intelligence firm MicroStrategy reportedly acted contrary to the Securities and Exchange Commission’s accounting practices for its crypto purchases. According to a Bloomberg report, a comment letter from the SEC released Thursday showed the regulatory body objected to MicroStrategy reporting information related to its Bitcoin (BTC) purchases based on non-GAAP, or Generally Accepted Accounting Principles. The business intelligence firm has been reporting it used these methods of calculating figures for its BTC buys excluding the “impact of share-based compensation expense and impairment losses and gains on sale from intangible assets”…

MicroStrategy shares drop on bitcoin’s slide, SEC rejection of company’s crypto accounting

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MicroStrategy CEO Michael Saylor speaks at the Bitcoin 2021 Convention, a crypto-currency conference held at the Mana Convention Center in Wynwood on June 04, 2021 in Miami, Florida. Joe Raedle | Getty Images Shares of MicroStrategy tumbled 17.8% Friday afternoon after the U.S. Securities and Exchange Commission reportedly rejected the company’s bitcoin accounting strategy. The business-intelligence software company’s stock had been falling in tandem with the price of bitcoin, which dropped more than 10% Friday to its lowest point since August. MicroStrategy shares are down 24.7% for the week. A…