Tagged: cftc

October 12, 2023 @ 4:07 pm By JD Alois  |  

Voyager Digital, now bankrupt as part of the crypto collapse of 2022, is in the news once again as the Commodities Futures Trading Commission (CFTC) has filed charges against its former CEO, Stephen Ehrlich. The CFTC is alleging fraud regarding a commodity pool ploy. In… Read More

September 8, 2023 @ 5:26 pm By JD Alois  |  

The Commodity Futures Trading Commission (CFTC) has ordered that Jacob Orvida, a Utah man, pay restitution and a penalty of $2.5 million for allegations of fraud in a leveraged Bitcoin ploy. According to the CFTC, Orvida solicited investors to join a commodity pool to trade… Read More

September 8, 2023 @ 10:04 am By JD Alois  |  

The US Commodity Futures Trading Commission (CFTC) announced charges targeting three DeFi, or decentralized finance, operations yesterday. These included Deridex, ZeroX, and Opyn. The CFTC alleges the offering of illegal derivatives trading. The CFTC charged Deridex and Opyn with failing to register as a swap… Read More

September 7, 2023 @ 3:28 pm By JD Alois  |  

At a speech delivered to the pro-market Cato Institute, CFTC Commissioner Caroline Pham has called for a Regulatory Sandbox. The UK Financial Conduct Authority (FCA) pioneered the Sandbox concept. The approach was to allow innovative Fintech firms to test products and services under the watchful… Read More

August 14, 2023 @ 3:41 pm By JD Alois  |  

The Commodity Futures Trading Commission (CFTC) has filed charges against four individuals as well as an unincorporated entity called Fundsz. The complaint charges them with fraudulent solicitation from clients to purportedly trade in cryptocurrencies and precious metals. Filed in District Court in Florida, the following… Read More

July 26, 2023 @ 11:41 am By JD Alois  |  

The Commodity Futures Trading Commission (CFTC) has filed charges against Michael and Amanda Griffis of Clarksville, Tennessee, according to a statement issued by the Commission. The complaint charges the defendants with defrauding over 100 people and failing to register with the CFTC in connection with a… Read More

July 26, 2023 @ 10:49 am By Omar Faridi  |  

FalconX, which claims to be the most reliable digital assets prime brokerage for the world’s leading institutions, is releasing the only crypto derivatives offered by a CFTC-regulated swaps dealer. These contracts are settled “against indices administered by CF Benchmarks, the FCA regulated cryptocurrency index provider.”… Read More

July 14, 2023 @ 10:38 am By JD Alois  |  

The Commodity Futures Trading Commission (CFTC) has joined the SEC in filing a civil complaint against Celsius Network and its founder and former CEO Alex Mashinsky. Criminal charges were filed by the US Department of Justice as well in a trifecta of legal action against… Read More

July 12, 2023 @ 11:44 am By JD Alois  |  

Senators Cynthia Lummis and Kirsten Gillibrand are reintroducing their comprehensive legislation addressing regulatory gaps in the digital asset sector. Both Senators are members of the key Senate Banking Committee that will need to approve any legislation if it will move forward in Congress. A previous… Read More

July 6, 2023 @ 6:23 pm By JD Alois  |  

The Commodity Futures Trading Commission (CFTC) has filed and simultaneously settled charges regarding a multi-million dollar Bitcoin fraud, according to a release. Randy Craig Levine, formerly of Coral Gables, Florida, and Philip Reichenthal of Homestead, Florida, have been charged with engaging in a deceptive and fraudulent… Read More

July 6, 2023 @ 4:36 pm By Omar Faridi  |  

CFTC Commissioner Caroline D. Pham, sponsor of the Global Markets Advisory Committee (GMAC), announced new members and leadership of the GMAC and its Subcommittees on Global Market Structure, Technical Issues, and Digital Asset Markets. CFTC announces their new Digital Asset Markets Subcommittee – Members from… Read More

June 28, 2023 @ 12:03 pm By JD Alois  |  

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

June 22, 2023 @ 6:42 pm By JD Alois  |  

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

June 10, 2023 @ 5:54 pm By JD Alois  |  

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

June 6, 2023 @ 10:07 am By JD Alois  |  

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

May 30, 2023 @ 5:15 pm By JD Alois  |  

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

May 25, 2023 @ 10:39 am By JD Alois  |  

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

April 23, 2023 @ 6:12 pm By JD Alois  |  

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

April 11, 2023 @ 5:15 pm By JD Alois  |  

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

April 9, 2023 @ 11:46 pm By JD Alois  |  

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