Tag Archives: sec

The Securities and Exchange Commission (SEC) has been targeting several digital currency companies and individuals over the past few weeks. In the past, the agency made a case against Do Kwon, the former CEO of Terraform Labs, and now, it looks like that case has gotten even bigger. The SEC Continues Its Case Against Do Kwon Terraform Labs was the company behind the failed LUNA token, an alleged algorithmic stable currency. The situation surrounding Luna got really hairy...

The Securities and Exchange Commission (SEC) has been on a roll over the past few weeks to take down any crypto company or individual it thinks might be going against its agenda, and it’s now added one more victim to its roster. The SEC Targets Paul Pierce This time, the figure targeted by the SEC is former Celtics player and NBA hall of famer Paul Pierce. The basketball player took part in a promotion of a new digital currency called Ethereum Max. By issuing public...

In recent days, there has been a lot of fear centering around the Securities and Exchange Commission (SEC). The agency is clearly motivated to try and bring crypto down for good, though according to Jake Chervinsky – the chief policy officer of the Blockchain Association – traders and investors shouldn’t worry too much as at the end of the day, it’s not the SEC that makes general rules and regulations regarding crypto, but Congress. The SEC Doesn’t Have That Much Power...

When the financial woes of FTX also lead to the exchange’s bankruptcy, the deal could not proceed, pitching Binance.US as the next major favorite to bail out the company. Judge Michael Wiles, the presiding Judge over the Binance.US and Voyager Digital acquisition case with the United States Securities and Exchange Commission (SEC) has reaffirmed his order for the deal to proceed. The Judge canceled the petition from the SEC to halt the proposed sale of the bankrupt crypto brokerage...

Cathie Wood praised crypto assets for proving to be safe havens as crisis unfolded in the US banking system last week. Ark Investment‘s Cathie Wood is known for making some of the bold bets in crypto. Even during the strong downfall of 2022, Cathie Wood has been a regular investor in crypto companies like Coinbase. In another such development, ARK Investment Management LLC managed to raise a staggering $16 million from investors for a new crypto-focused investments fund. On Wednesday,...

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The United States Department of Justice (DOJ) reportedly launched an investigation against Terraform Labs and its former employees to explore what led to the collapse of the project’s native token – LUNA – and its algorithmic stablecoin – UST. The US SEC recently accused the entity and its co-founder – Do Kwon – of orchestrating a massive fraud, suggesting this could be the main factor behind the catastrophe.  US DOJ Joins the Club According to a Wall Street Journal coverage,...

Crypto firm Paxos has said it’s expecting to face charges from the Securities and Exchange Commission (SEC) over its issuance of BUSD, the Binance-centered stable coin. It is believed by the financial agency that the company has been issuing the currency as a non-registered security. Paxos Will Likely Be Charged By the SEC The New York state financial regulator has issued a cease-and-desist letter to Paxos claiming that the firm should not be providing investors with...

Both the Securities and Exchange Commission (SEC) and Department of Justice (DOJ) are reportedly investigating the now-collapsed Silicon Valley Bank (SVB) after depositors to the bank were bailed out by regulators on Sunday.  The separate investigations will both examine the stock sales of SVB’s executives moments before the bank collapsed. The agencies’ investigations are still at a preliminary stage and will not necessarily lead to allegations or charges, according to the...

Is an all-out crypto war coming? That’s the sentiment of many analysts now that the Securities and Exchange Commission (SEC) has sworn to sue Paxos, the issuer of stable coin BUSD. The agency says that the firm has been selling the asset as an unregistered security. The SEC Clearly Hates Crypto Under normal circumstances, this wouldn’t be any big deal. After all, it’s not like the SEC has had a great attitude towards crypto in the past, though it seems to be making a lot...