Tagged: cftc

Ohio Man Ordered to Pay More than $50 Million for Bogus Digital Asset Trading Scam

Michael Ackerman, from Alliance, Ohio, has been ordered to pay over $50 million for a bogus digital asset trading scam. The Commodity Futures Trading Commission (CFTC) has received a default judgment regarding Ackerman from the U.S. District Court for the Southern District of New York…. Read More

Pig Butchering Scam Target of CFTC Enforcement Action

Another Pig Butchering scam is in the news again. “Sha Zhu Pan” or “Pig Butchering” is a romance plot designed to fleece the funds of the unsuspecting. In this case, the Commodity Futures Trading Commission (CFTC) has filed an enforcement action against Cunwen Zhu and… Read More

CFTC Claims Precedent Setting Legal Victory in Ooki DAO Litigation

The Commodities Futures Trading Commission (CFTC) is claiming a significant legal victory in the litigation of Ooki DAO. According to the CFTC, the decentralized autonomous organization has received a default judgment in which the court held that Ooki DAO is a “person” under the Commodity… Read More

CFTC Approves Cboe Clear Digital to Clear Digital Assets

The Commodity Futures Trading Commission (CFTC) has approved an amended order of registration for Cboe Clear Digital, LLC (Cboe Clear) to clear additional products, including digital assets. The CFTC said he approval is subject to the terms and conditions specified in the order as a… Read More

CFTC Issues Staff Advisory on Digital Assets and Clearing, Commissioner Johnson Calls for Rulemaking on Crypto

The Commodity Futures Trading Commission (CFTC) has issued a staff advisory on the expansion of Derivatives Clearing Organization (DCO) clearing of digital assets. The advisory was said to be driven by the rising interest of DCOs to provide services in regard to crypto. The Advisory… Read More

CFTC Files Charges Regarding Digital Asset, Bitcoin Fraud

The Commodity Futures Trading Commission (CFTC) has filed an enforcement action in the US District Court for the Central District of California against David Carmona, Juan Arellano Parra, Moses Valdez, David Brend, and Marco A. Ruiz Ochoa, who were all doing business as a company… Read More

CFTC Pursues Bogus Entities Claiming to be Registered with the Commission

The Commodity Futures Trading Commission today announced it has filed charges against 14 entities for fraudulently claiming to be registered with the CFTC as futures commission merchants (FCM) and retail foreign exchange dealers (RFED). The bogus platforms claimed to be located in the United Kingdom,… Read More

CFTC Charges Individual with Fraudulent Solicitation in Regard to Digital Asset Trading Fund

The Commodity Futures Trading Commission (CFTC) has filed charges against Rashawn Russell, an individual who allegedly solicited retail investors to invest in a digital asset trading fund. Russell allegedly misappropriated $1 million in investor assets. The civil enforcement action has been filed in the US… Read More

Binance.US Struggles to Find a Bank Following Collapse of Silvergate, SVB: Report

Binance.US is having a hard time parking cash in a bank following the collapse of Silvergate Bank and Silicon Valley Bank (SVB). According to a report by WSJ.com, Binance.US is working with a “middleman” to manage cash for dollar deposits – said to be Prime… Read More

Crypto Council Comments on Binance Enforcement Action: CFTC Goes Straight for the Knockout

This past week, the Commodities Futures Trading Commission filed an enforcement action against Binance and its founder Changpeng Zhao (CZ). The lawsuit comes as no surprise to industry followers as Binance is the largest crypto exchange globally and represents a fat target for regulators. The… Read More

CFTC Charges Binance, Founder Changpeng Zhao, Others with “Numerous Violations” in Civil Enforcement Act

Zhao Changpeng

The Commodity Futures Trading Commission (CFTC) has filed charges against Binance, founder and CEO Changpeng Zhao (known as CZ), and former Chief Compliance Officer Samuel Lim with “numerous violations” of the Commodity Exchange Act (CEA) and other regulations. Filed in the U.S. District Court for… Read More

The Administration’s Attack on the Digital Assets: House Subcommittee Tackles Digital Asset Innovation, Proposes Digital Asset Legislation

Washington DC Capitol At Night Red Light

Coinbase, BitGo Representatives Set to Testify. The Subcommittee on Digital Assets, Financial Technology, and Inclusion, part of the House Financial Services Committee, will hold a hearing tomorrow (March 9, 2023) on digital assets. The title of the hearing is Coincidence or Coordinated? The Administration’s Attack… Read More

SEC, CFTC Charge FTX Engineer Nishad Singh with Fraud, Pleads Guilty to Criminal Charges Too

Nishad Singh, the former co-lead Engineer at failed crypto exchange FTX, has been charged by both the Securities and Exchange Commission (SEC) and Commodities Futures Trading Commission (CFTC) with fraud. Both agencies revealed the charges following the news that Singh had pleaded guilty to criminal… Read More

CFTC Charges Vista Network Technologies, CEO with Misappropriation of Digital Assets, Ponzi Scam

The Commodity Futures Trading Commission (CFTC) has charged Vista Network Technologies and its CEO, Armen Temurian, with “fraudulent solicitation and misappropriation of customers’ digital asset commodities.” The CFTC claims that the defendants scammed over $7 million in Bitcoin and Ether from erstwhile customers. The CFTC described… Read More

CFTC Pursues Enforcement Action Against Perpetrator Who Allegedly Plundered a Decentralized Digital Asset Exchange

The Commodity Futures Trading Commission (CFTC) has filed a civil lawsuit against Avraham Eisenberg, alleging a fraudulent scam to obtain over $110 million in digital assets from a decentralized digital asset exchange. The enforcement action has been filed in the U.S. District Court for the… Read More

CFTC Joins SEC, DOJ in Filing Charges Against Caroline Ellison, Former Alameda CEO, Gary Wang, Co-Founder of FTX

The Commodity Futures Trading Commission (CFTC) has joined both the SEC and US Department of Justice in filing fraud charges against Caroline Ellison, former Alameda CEO, and Gary Wang, FTX co-founder and former CTO. The CFTC initially filed the fraud action on December 13 against… Read More

Former SEC Enforcement Attorney: Following FTX Debacle, the SEC Won’t Want to be Late to the Party Again

  The trifecta of legal action against Sam Bankman-Fried and the failure of FTX blossomed this past week as the US Attorney for the Southern District of New York filed criminal charges against Bankman-Fried. These charges were joined by civil charges filed by both the… Read More

CFTC Complaint Against Sam Bankman-Fried, FTX Claim $8 Billion in Customer Funds Lost

The Commodity Futures Trading Commission (CFTC) has filed a complaint in the US District Court for the Southern District of New York against Sam Bankman-Fried, FTX, and Alameda Research. The CFTC complaint charges the defendants with fraud and material misrepresentations in connection with the sale… Read More

Former CFTC Commissioner Joins a16z Crypto

Former Commodities Futures Trading Commission (CFTC) Commissioner Brian Quintenz has joined a16z Crypto in a full-time role as its new Head of Policy. a16z Crypto is a leading VC operation investing in blockchain-based platforms, including Web3. While at the CFTC, Quintenz led the Commission’s Technology… Read More

Little New Information Derived from Senate Agriculture Committee Hearing on FTX

Last week, the Senate Agriculture Committee, which has oversight of commodities markets, held a hearing on the collapse of FTX, once an inside-the-beltway darling, today a virtual pariah as policymakers rush to react to the bankruptcy of the crypto exchange. Before the crypto exchange went bust,… Read More

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