Tagged: enforcement

August 10, 2023 @ 9:15 pm By JD Alois  |  

Bittrex has settled with the Securities and Exchange Commission (SEC) regarding charges that it operated an unregistered securities exchange. Bittrex’s foreign operation, Bittrex Global GmbH has also agreed to settle similar charges. Bittrex has agreed to pay a total penalty of $24 million. As part… Read More

July 31, 2023 @ 12:10 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has filed charges for an unregistered securities offering involving crypto. According to the SEC, Richard Heart, also known as Richard Schueler, along with three separate firms, Hex, PulseX, and PulseChain, raised over $1 billion in an unregistered securities offering…. 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 21, 2023 @ 6:25 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has filed charges against the issuer of DWE and BPC alleging the issuance of unregistered securities.  The SEC claims that  Alexander Elbanna and his affiliated entities have committed fraud. According to the SEC, between February 2018 and April 2021,… Read More

July 21, 2023 @ 11:29 am By JD Alois  |  

The Digital World Acquisition Corporation (NASDAQ:DWAC), a special purpose acquisition company (SPAC) has been charged with material misrepresentations by the Securities and Exchange Commission (SEC). DWAC has agreed to a cease-and-desist order and to pay an $18 million penalty in the event it closes a… Read More

July 13, 2023 @ 10:39 am By JD Alois  |  

The Securities and Exchange Commission (SEC) has filed additional charges in regard to the Frank case and its sale to JP Morgan for $175 million in 2021. According to a statement by the SEC, former Chief Growth Officer of Frank, Olivier Amar, has been charged… 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 21, 2023 @ 1:00 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has filed an enforcement action against audit firm Marcum LLP regarding its audit work for “hundreds” of SPACs. Marcum has settled the matter without admitting or denying the SEC’s findings, paying a $10 million penalty while agreeing to remedial… Read More

June 17, 2023 @ 9:56 am By JD Alois  |  

The Securities and Exchange Commission (SEC) has received court approval for emergency relief regarding assets held by Binance for US customers. The SEC states that all defendants in its litigation against Binance Holdings Limited, BAM Management US Holdings Inc., BAM Trading Services Inc., and Changpeng… 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 10, 2023 @ 4:56 pm By JD Alois  |  

The US Department of Justice has charged two Russians, Alexey Bilyuchenko, 43, and Aleksandr Verner, 29, with the hacking of Mt. Gox. The crypto exchange was plundered in 2011 and ultimately collapsed. At the same time, the Russians have been charged with operating the BTC-e… Read More

June 7, 2023 @ 4:41 pm By JD Alois  |  

  SEC Commissioners Hester Peirce and Mark Uyeda have issued a public dissent of the Commission’s decision to deny CryptoFed DAO’s request to withdraw its registration statement and the motion to dismiss the case by the Division of Enforcement. In brief, in November 2021, the… Read More

June 6, 2023 @ 9:04 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has filed an emergency action seeking a temporary restraining order to freeze the assets of Binance while requiring defendants to repatriate assets held for the benefit of customers of Binance.US. The SEC says the action is designed to protect… Read More

June 6, 2023 @ 6:49 pm By JD Alois  |  

The Competitive Enterprise Institute (CEI), Director of Finance Policy, John Berlau, has shared a comment on the Securities and Exchange Commission’s enforcement action targeting Coinbase (NASDAQ:COIN). Earlier today, the SEC filed charges against Coinbase, alleging that the crypto platform is operating as an unregistered securities… Read More

June 6, 2023 @ 10:32 am By JD Alois  |  

Following the revelation of charges filed against Binance and its founder, the Securities and Exchange Commission (SEC) has filed similar charges against Coinbase (NASDAQ:COIN) – the US’s only publicly traded crypto exchange. The charges against Coinbase include operating an unregistered securities exchange, acting a broker,… Read More

June 5, 2023 @ 5:43 pm By JD Alois  |  

Shares in Coinbase (NASDAQ:COIN), the only publicly traded pure-play crypto exchange and digital asset ecosystem, sank over 9% today as the news filtered out that the Securities and Exchange Commission (SEC) had filed 13 individual charges against Binance, Binance.US and its founder Chengpang Zhao. As… Read More

June 5, 2023 @ 1:07 pm By JD Alois  |  

Long anticipated and finally here, the Securities and Exchange Commission (SEC) has filed 13 charges against Binance and its founder and CEO, Changpeng Zhao. Binance is the largest crypto exchange in the world, garnering around 60% of crypto trading. Zhao, who goes by CZ, is… Read More

May 30, 2023 @ 4:20 pm By JD Alois  |  

Former Coinbase (NASDAQ:COIN) executive Ishan Wahi and his brother, Nikhil Wahi, have agreed to settle charges leveled by the Securities and Exchange Commission (SEC). In mid-2022, the SEC announced the charges alleging insider trading. The defendants were allegedly benefiting from information prior to it becoming public… Read More

May 26, 2023 @ 5:20 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has obtained final consent judgments against The Hydrogen Technology Corporation, its former CEO, Michael Ross Kane, and Tyler Ostern, CEO of Moonwalkers Trading Limited.  The SEC’s case involved the offering of unregistered securities in regard to the issuance of… Read More