Tag: SEC

Terraform Labs, Do Kwon Reach Preliminary Settlement With SEC

Singapore-based Terraform Labs and its founder Do Kwon have reportedly reached a preliminary settlement with the U.S. Securities and Exchange Commission (SEC) after being accused of misleading cryptocurrency investors before the 2022 collapse of terrausd (UST), the project’s now-defunct algorithmic stablecoin. According to a court filing, the settlement terms are currently undisclosed and the alleged […] Source BitcoincryptoexchangeExchanges CryptoX Portal

Terraform, Do Kwon Agree in Principle to Settle Fraud Case With SEC: Court Filing

The court listing’s title referred to a May 29 telephone conference , “without transcription or recording.” Counsels for all the parties were present. As the parties informed the Court that they reached a settlement in principle, an oral argument previously set for May 29 was cancelled. The parties must file the required documents in support of the settlement in front of Judge Jed S. Rakoff by June 12. Source

Blackrock Advances Spot Ether ETF With SEC Amendment, Analyst Eyes June Launch

The world’s largest asset manager, Blackrock, has updated its S-1 registration statement for the Ishares Ethereum Trust, which will be listed as “ETHA.” According to the update, ‘Seed Creation Baskets’ were acquired by the fund’s ‘Seed Capital Investor.’ Furthermore, several spot ether exchange-traded fund (ETF) applicants now have their respective tickers listed on the Depository […] Source BitcoincryptoexchangeExchanges CryptoX Portal

Coinbase Seeks Immediate Appellate Review in SEC Lawsuit, Citing Recent Legislation

As Coinbase seeks an interlocutory appeal in its legal dispute with the U.S. Securities and Exchange Commission (SEC), recent legislative developments have highlighted a growing discord between U.S. Congress and the SEC over digital asset regulation. This past week, legislators passed comprehensive digital asset legislation aimed at curbing the SEC’s expansive jurisdiction claims. As Coinbase […] Source BitcoincryptoexchangeExchanges CryptoX Portal

SEC greenlights spot Ether ETFs, but Ether price shows little movement

Ethereum’s price has barely budged despite the US Securities and Exchange Commission (SEC) giving the green light for spot Ether exchange-traded funds (ETFs) to launch faster in the United States. Ahead of the SEC’s landmark approval, Ether fell by 3.4%, rebounding by around 5% shortly after. As of now, Ether is trading at $3,701, with a 24-hour trading volume of $47.5 billion, according to CoinMarketCap. ETH 24-hour price chart | Source: CoinMarketCap On May 23, the SEC approved 19b-4 applications from financial giants such as VanEck, BlackRock, Fidelity, Grayscale, Franklin Templeton, ARK 21Shares, Invesco Galaxy, and…

Coinbase Slugs It Out With U.S. SEC in Effort to Get Key Crypto Question Answered

The request would have to be accepted by the courts, including Judge Katherine Polk Failla, of the U.S. District Court for the Southern District of New York, who rejected Coinbase’s request to dismiss the SEC’s original case, which accused the exchange of operating illegally. Resolving this central legal question could help steer a number of other SEC enforcement clashes with the industry. Source

Coinbase Continues to Fight for Crypto Clarity, Challenging SEC Overreach in Court

Cryptocurrency exchange Coinbase has filed a reply memorandum supporting its motion to certify an interlocutory appeal in its lawsuit against the U.S. Securities and Exchange Commission (SEC), which alleges that certain digital asset transactions conducted by Coinbase constitute the sale of unregistered securities. Coinbase’s chief legal officer, Paul Grewal, explained that the crypto exchange’s position […] Source CryptoX Portal

Crypto Market Extends Slide Despite SEC Ether ETF Filings Approval

Bitcoin and ether both experienced wild swings in the run-up to the SEC’s ETF decision on Thursday. ETH tumbled to $3,500 before surging to $3,900 as the first reports came through that approval of some filings was imminent. BTC, meanwhile, sank below $66,500, then spiked to $68,300 before settling just below $68,000. Liquidations across all leveraged crypto derivative positions soared to over $350 million during the day, the most since May 1, CoinGlass data shows. The bulk of the positions were longs betting on rising prices, worth roughly $250 million,…