Tagged: sec

February 6, 2024 @ 3:48 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) continues to issue new rules at a breakneck pace. Today, the Commission has adopted new rules that impact “market participants who engage in certain dealer roles.” These market participants who shoulder significant liquidity roles in markets must soon register… Read More

February 5, 2024 @ 7:28 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has posted a note that the California court has entered judgments against former Bitwise CEOs Jake Soberal and Irma Olguin, Jr. The SEC alleged that the two former executives had misled investors about the company’s finances. Without admitting or… Read More

February 2, 2024 @ 5:33 pm By JD Alois  |  

The Securities and Exchange Commission has filed fraud charges against American Bitcoin Academy operated by Rockwell Capital Management and founder Brian Sewel. The company and Sewel have agreed to settle the charges without admitting or denying the allegations. Rockwell Capital Management has also agreed to… Read More

February 2, 2024 @ 1:41 pm By JD Alois  |  

In an X, Congressman Mike Flood revealed a Joint Resolution to revoke the authority of the Securities and Exchange Commission’s (SEC) Staff Accounting Bulletin 121. This SAB was enacted in 2022 and impacted the digital asset industry. The SAB addressed the “accounting for obligations to… Read More

January 31, 2024 @ 7:05 pm By JD Alois  |  

Ram Ahluwalia, founder of PeerIQ (sold) and now founder of Lumida, has slammed Chairman Gary Gensler, claiming the damage he has done to the Securities and Exchange Commission (SEC) is significant. Ahluwalia references an article that quoted former SEC Commissioner Michael Piwowar. In the article… Read More

January 29, 2024 @ 10:24 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has filed charges against HyperFund and its principles alleging a $1.7 billion “Crypto Pyramid scheme.” Founders Xue Lee (aka Sam Lee) and Brenda Chunga (aka Bitcoin Beautee) were said to have promoted HyperFund which allegedly claimed guaranteed returns for… Read More

January 25, 2024 @ 3:49 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) Office of Investor Education and Advocacy, the North American Securities Administrators Association (NASAA), and the Financial Industry Regulatory Authority (FINRA) have jointly issued a warning regarding the rise of investment frauds involving the use of artificial intelligence (AI) –… Read More

January 24, 2024 @ 11:09 am By JD Alois  |  

Today, at an open meeting, the Securities and Exchange Commission (SEC) revealed new rules that will cover SPACs or Special Purpose Acquisition Companies. SPACs are “blank check” firms that are public firms that are created to enact a merger or acquisition of another firm. As… Read More

January 24, 2024 @ 9:34 am By JD Alois  |  

ESOs [Entrepreneurial Support Organizations], such as incubators and accelerators, play a critical and evolving role in helping startups grow and scale their businesses, but it can be challenging for founders to know how and where to start. Tune in to find out: What are the… Read More

January 23, 2024 @ 4:20 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has revealed an order demanding Crowd Machine, Metavine, and founder Craig Sproule to disgorge $19,676,401.27 raised in an “unregistered and fraudulent offering of crypto asset securities.” Additionally, pre-judgment interest in the amount of $3,358,147.75 is being added to the… Read More

January 16, 2024 @ 12:39 pm By Omar Faridi  |  

The US Securities and Exchange Commission (SEC) is reportedly willing to postpone the Terraform Labs trial for Do Kwon‘s extradition. The SEC agreed to the delay of the civil trial against Terraform Labs and its co-founder Do Kwon for allegedly carrying out a $40 billion… Read More

January 13, 2024 @ 4:05 pm By Omar Faridi  |  

Spectrum Markets, the pan-European trading venue for securities saw a surge in overnight activity on products “linked to bitcoin, in the hours following the SEC’s announcement approving the first spot bitcoin ETF.” The volume of bitcoin-linked instruments “traded on Spectrum Wednesday was five times higher… Read More

January 13, 2024 @ 11:34 am By JD Alois  |  

The Securities and Exchange Commission (SEC) experienced an embarrassing breach of security when its X (formerly Twitter) account was hacked. The perpetrators took the opportunity to announce the approval of Bitcoin ETFs one day before the SEC intended to announce it publicly. In the following… Read More

January 11, 2024 @ 6:36 pm By JD Alois  |  

Senator Elizabeth Warren has taken to X to express her displeasure with the Securities and Exchange Commission’s decision to approve eleven Bitcoin exchange-traded funds (ETFs). These funds started trading today after being approved yesterday, experiencing solid trading demand. Warren, a policymaker who is no fan… Read More

January 11, 2024 @ 5:16 pm By JD Alois  |  

The House Financial Services Committee has announced the Oversight and Investigations Subcommittee will hold a hearing entitled: “Oversight of the SEC’s Proposed Climate Disclosure Rule: A Future of Legal Hurdles.” The hearing is scheduled to take place on Thursday, January 18, 2024, at 10 AM… Read More

January 11, 2024 @ 5:04 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has announced charges against the CEO of Future Fintech Group (Nasdaq:FTFT). The Future Fintech Group is a financial and digital technology service provider that says it conducts asset management, brokerage, and investment banking services in Hong Kong, operates a… Read More

January 11, 2024 @ 11:45 am By Omar Faridi  |  

As expected by most industry analysts and also after an embarrassing false start (following the official SEC X account being “compromised”) the US Securities and Exchange Commission (SEC) has finally approved 11 spot bitcoin ETF applications – which were submitted by traditional financial and crypto-focused… Read More

January 10, 2024 @ 5:57 pm By JD Alois  |  

Representative Patrick McHenry,  Chairman of the House Financial Services Committee, has joined the Chairman of the Subcommittee on Oversight and Investigations, Bill Huizenga, the Chairman of the Subcommittee on Digital Assets, Financial Technology and Inclusion, French Hill, and the Chairman of the Subcommittee on Capital… Read More

January 10, 2024 @ 11:00 am By JD Alois  |  

Many insiders expect the Securities and Exchange Commission (SEC) to decide today whether to approve or not approve a Bitcoin Exchange Traded Fund (ETF). The possibility of a spot Bitcoin vehicle trading on the Nasdaq or the NYSE has driven the price of Bitcoin higher… Read More

January 10, 2024 @ 10:13 am By JD Alois  |  

Yesterday, the Securities and Exchange Commission (SEC) posted a video on X discussing the recent Staff review of the definition of an Accredited Investor. The video states that the review of fhe definition is mandated to take place every four years, according to Dodd-Frank. The… Read More