Tag: SEC

Crypto Policy In The Hot Seat As US Lawmaker Calls SEC Hearing

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US Representative Maxine Waters has formally asked House Financial Services Committee Chair French Hill to schedule an oversight hearing with Securities and Exchange Commission  (SEC) Chairman Paul Atkins, saying the agency must explain recent choices that, she argues, weaken enforcement of securities laws. Related Reading Waters Seeks Answers On Dropped SEC Cases According to Waters’ letter, the SEC has terminated or stayed a number of high-profile crypto enforcement actions that had been moving through the agency’s process, and committee Democrats want an explanation for those decisions. Reports have disclosed that…

SEC Targets $14M AI Crypto Trading Chat Scams

Key Notes SEC charged multiple organizations for allegedly stealing over $14M from U.S. retail investors. The scam routed in from social media and WhatsApp groups. SEC describes fraudsters using group chats, deepfake impersonations, and AI-themed pitches to push investors. The SEC charged three crypto trading platforms and four AI investment clubs on December 22 for allegedly stealing over $14 million from U.S. retail investors. According to a press release, the victims were shepherded in from social media and WhatsApp groups. Details on Fake Group Crypto Investment Chat The complaint names…

ETHZilla Sells $74.5M in Ether to Repay Debt, Discloses in SEC Filing

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Crypto treasury company ETHZilla said in a filing with US regulators that it sold part of its Ether holdings to repay outstanding convertible notes amid a broader market downturn. The company disclosed in a filing with the Securities and Exchange Commission the sale of 24,291 Ether (ETH) for $74.5 million at an average price of $3,068.69 per token, leaving about 69,800 ETH on its balance sheet as of Friday. The company said it expects to use all or a significant portion of the proceeds to redeem its outstanding senior secured…

CFTC, SEC chairs are Crypto Regulation ‘Dream Team‘

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US President Donald Trump’s AI and crypto czar has signaled that the White House may have all the pieces in place for digital asset regulation following the confirmation of Michael Selig to chair the Commodity Futures Trading Commission. In a Monday X post, David Sacks said the US was at a “critical juncture” for crypto regulation, and that Selig and Securities and Exchange Commission Chair Paul Atkins made up a “dream team to define clear regulatory guidelines.” Sacks’ comments were in response to Selig saying that the US Congress was…

Bitcoin Mining Promises Under Fire as SEC Alleges $48.5M Investor Funds Were Misused

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Federal regulators are tightening the vise on crypto investment schemes, spotlighting alleged fraud tied to bitcoin mining that raised nearly $100 million while misleading thousands of investors about operations, capacity and the use of their money. SEC Alleges Massive Capacity Gaps in Bitcoin Mining Venture That Pulled in $95.6M A federal enforcement action highlights risks […] Original

JPMORGAN BANK TOKENIZES ON ETHEREUM! BITCOIN PULLSBACK & CRYPTO MARKET STRUCTURE DELAYED!

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Crypto News: Bitcoin price pullsback. JPMorgan Launches Tokenized Money Market Fund on Ethereum. The senate markup on the crypto market structure bill (CLARITY Act) gets delayed. Brought to you by 🏦 Learn about iTrustCapital’s powerful Premium Custody Account (PCA) and tax-advantaged Crypto IRA platforms 💡Get the (Re)Thinking Crypto Book on Amazon – 🖥️ Learn Crypto with Expert Commentary – Sponsors: 🌟Uphold – Signup with Uphold. Terms Apply. Cryptoassets are highly volatile. Your capital is at risk. 🏠 Propy (PRO) is a blockchain-based…

SEC Confirms Years-Long Director Bans for Former Alameda, FTX Execs

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Former Alameda Research CEO Caroline Ellison and former FTX executives Gary Wang and Nishad Singh will be barred from assuming company leadership roles for eight to 10 years following a court judgment. In a Friday notice, the US Securities and Exchange Commission said that it had obtained final consent judgments against Ellison, Wang and Singh for their roles in the misuse of investor funds at FTX from 2019 to 2022.  The former Alameda CEO consented to a 10-year officer-and-director bar, while Wang and Singh consented to eight-year officer-and-director bars each.…

SEC Says Hosted Bitcoin Miners Could Trigger Securities Laws

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The US Securities and Exchange Commission has flagged in a lawsuit that third-party Bitcoin mining hosting services can be a securities offering, a position strongly opposed by one industry executive. The SEC sued the Bitcoin (BTC) mining company VBit and its founder, Danh Vo, in a Delaware federal court on Wednesday, accusing them of fraud and misappropriating around $48 million in investor funds between 2018 and 2022 by selling a greater number of hosting agreements than there were mining rigs. “VBit’s Hosting Agreements are investment contracts and therefore securities,” the…

SEC Staff Clarifies Custody Rules for Tokenized Stocks and Bonds

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The US Securities and Exchange Commission’s Trading and Markets Division on Wednesday laid out how broker-dealers can custody tokenized stocks and bonds under existing customer protection rules, signaling that blockchain-based crypto asset securities will be slotted into traditional securities safeguards rather than treated as a new category. The division said it would not object to broker-dealers deeming themselves in possession of crypto asset securities under existing customer protection rules, as long as they meet a set of operational, security and governance conditions. This applies only to crypto securities, including tokenized…

SEC Fraud Suit Forces Crypto VC Shima Capital into Wind-Down

Key Notes Shima Capital is planning an ‘orderly wind-down’ following an SEC lawsuit against its founder, Yida Gao. The SEC alleges Gao and Shima Capital raised nearly $170 million using marketing materials with false and misleading statements about investment returns. Gao is accused of claiming a 90x return on an investment that actually returned 2.8x. Crypto venture firm Shima Capital is initiating an “orderly wind-down” after the US Securities and Exchange Commission sued its founder, Yida Gao, for allegedly defrauding investors. The SEC’s complaint, filed November 25, accuses Gao and…