Tag Archives: sec

The Securities and Exchange Commission obtained a temporary restraining order on a mother-son duo that embezzled more than $12 million from at least 277 investors. Throughout the years, the 86-year-old woman and her 54-year-old son promised to generate income for their clients via investing in securities and cryptocurrencies but instead swindled the funds for themselves. The Deceptive ‘Supercomputer’ The Securities and Exchange Commission (SEC) announced that it had stopped...

In its amended initial public filing (IPO) prospectus with the U.S. Securities and Exchange Commission (SEC), Popular stock trading platform Robinhood revealed that it is expecting its revenue to drop in Q3 2021 as a result of the cool-off in the trading activity of the cryptocurrency market.  Robinhood Expecting Drop in Revenue With Robinhood planning to go public this July, the trading app revealed in a revised SEC filing that a decrease in retail trading activity could...

After the Bitcoin and Ethereum Trusts, Grayscale’s Digital Large Cap Fund has also filed and been approved to become an SEC-reporting product. Additionally, the largest digital asset manager has filed three more Registration Statements with the Commission. Grayscale Investments, the large cryptocurrency asset manager, filed a Registration Statement on Form 10 with the Securities and Exchange Commission earlier this year. The company announced on July 12th that the application...

Democrat Senator Elizabeth Warren continues to bash the cryptocurrency space by calling the market “highly opaque and volatile.” Nevertheless, she believes the US watchdog – the SEC – needs to step up and implement a proper regulatory framework to enhance investors’ safety amid their growing demand. Surging Demand for the Opaque Crypto Market It’s not uncommon for those in power to lash out against the decentralized and unregulated nature of the cryptocurrency market....

After the US regulator postponed its decision about VanEck’s BTC ETF attempt, the watchdog has done the same with the application filed by Anthony Scaramucci’s SkyBridge Capital. CryptoPotato reported earlier this year when the global investment company based in NYC, SkyBridge Capital, filed with the SEC to launch a Bitcoin ETF. Should the product be approved, its service provider will be America’s oldest bank – BNY Mellon. Although the watchdog had until July 11th to make...

Hester Peirce, also known as the “crypto mom,” believes the agency she works at – the Securities and Exchange Commission – should have greenlighted a BTC ETF years ago. She argued that the SEC’s rationale keeps growing weaker. In an interview with CNBC, Peirce commented on the hot topic of Bitcoin ETF in the US and whether the country’s regulator will eventually approve such a product. She said this is “probably the biggest, the most-often-asked question I get.” But, with the...

While filing for an IPO with US regulators, the popular trading platform Robinhood reported a 4% increase in revenue coming from digital assets. Interestingly, more than 30% of that came from the most recent craze in the space – Dogecoin. Dogecoin’s Rise on Robinhood Started in 2013 as a joke, Dogecoin attracted the world’s attention earlier this year following countless interactions by one of the most influential people – Elon Musk. His constant engagements were followed by...

John McAfee – a longtime bitcoin bull and the creator of a popular anti-virus software program that shares his last name – has died in prison. John McAfee Has Taken His Own Life McAfee had been arrested last October and was presently awaiting extradition to the United States while serving time in Barcelona, Spain. His lawyer says that McAfee took his own life by hanging. He had been charged with tax evasion after claiming that the practice of tax collection was illegal...

Popular American rapper and actor Jayceon Terrell Taylor popularly known as The Game is currently facing $12 million charges for allegedly promoting an illegal initial coin offering (ICO). According to a recently amended official filing, he had promoted the unregistered token sale of Paragon Coin, a tech company that came under regulatory scrutiny earlier in 2017. The Paragon Coin Saga Paragon touted itself as a cryptocurrency company that would use the power of blockchain...

Robinhood, the popular crypto-friendly trading platform, has reportedly delayed its plans to go public because of scrutiny from the US Securities and Exchange Commission. The agency has outlined issues with the company’s cryptocurrency-related endeavors. Robinhood IPO Delayed to June Founded in 2013, Robinhood quickly became one of the most utilized trading platforms, with over 20 billion in AUM as of late 2020. The firm has also introduced cryptocurrency services lately,...