The U.S. Securities and Exchange Commission (SEC) charged two brothers with allegedly operating a $61.5 million Ponzi scheme that relied on promoting a fake crypto trading bot. The SEC accuses Jonathan Adam and his brother Tanner Adam of luring in more than 80 investors across the country by promising 13.5% monthly returns via a crypto […]
The post SEC Charges Brothers for Fake Crypto Trading Bot That Led to Misappropriation of About $54,000,000 appeared first on The Daily Hodl.
Demand for XRP is bouncing back on digital asset exchanges, according to crypto analytics firm Kaiko. After a long, drawn-out lawsuit with the U.S. Securities and Exchange Commission (SEC) that ultimately ended in the ruling that XRP sold on exchanges does not constitute a security, Kaiko says demand for XRP is back. “Since last year’s […]
The post Demand for XRP on Crypto Exchanges Rebounds to Pre-Lawsuit Levels: Kaiko Analytics appeared first on The Daily Hodl.
Federal securities regulators are suing the founder of the social media project BitClout, now known as Decentralized Social (DeSo). In its complaint, the U.S. Securities and Exchange Commission (SEC) alleges that since November 2020, Nader Al-Naji raised more than $257 million from unregistered offers and sales of the platform’s token, BTCLT. The regulator says that […]
The post Chamath Palihapitiya-Backed Altcoin Collapses After SEC Charges Co-Founder With Fraud appeared first on The Daily Hodl.
Asset management titan BlackRock is amending its spot market Ethereum (ETH) exchange-traded fund (ETF) filing with the U.S. Securities and Exchange Commission (SEC). According to new documents, BlackRock – which has over $10 million in assets under its management – has amended its S-1 filing with the regulatory agency as the approvals process enters its […]
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Coinbase institutional research analyst David Han believes “there is room for surprise to the upside on this decision.”
Despite unfavorable odds from several crypto analysts and the broader crypto community regarding the approval of spot Ether exchange-traded funds (ETF) by the United States Securities and Exchange Commission (SEC), some analysts suggest that “there is room for surprise.”
“If by some chance the SEC decides to approve then so many will be caught severely offside,” crypto trader Matthew Hyland told his 142,000 X followers in a May 17 post.
“If 90% of people think the ETH ETF will be denied, and the majority of those people think it will lead to a crypto crash then who will actually be selling?” he added before declaring that the expectation of denial is “priced in.” At the time of publication, Ether (ETH) is trading at $3,102, as per CoinMarketCap data.
The SEC says case dismissal without prejudice is “normally granted” when a plaintiff requests it, but the court has criticized the agency’s current suit.
The United States Securities and Exchange Commission (SEC) has made another move in its attempt to have its case against cryptocurrency mining software firm Digital Licensing, doing business as Debt Box, dismissed. The agency filed a reply to its motion for the court to dismiss the case without prejudice, which would allow the agency to sue Debt Box again.
The U.S. District Court for Utah Northern Division sanctioned the SEC for “gross abuse of power” and dismissed its first attempt to have the case dismissed without prejudice. It also ordered that Debt Box should receive reimbursement of legal fees. Debt Box asked the court not to dismiss the case without prejudice, calling the move a ploy to avoid permanent dismissal.
The SEC argued that the ability to refile an action was in the interests of Debt Box investors, and precedent showed that the court “normally should grant” a plaintiff’s request for dismissal without prejudice. It stated:
The United States SEC argues that “having made the weather, Coinbase cannot claim that it is now raining.”
The U.S. Securities and Exchange Commission (SEC) has opposed cryptocurrency exchange Coinbase's request for an interlocutory appeal concerning a “controlling question” in the ongoing lawsuit, alleging that Coinbase is seeking to manipulate the interpretation of the question itself.
“Coinbase’s attempts to manipulate the question for appeal to shoehorn it into a certifiable question under 28 U.S.C. § 1292(b) are self-defeating,” the SEC declared in a May 10 filing with the United States District Court for the Southern District of New York.
The SEC further reiterated that Coinbase "does not like" the Howey Test — the agency's standard for determining what is a security — and the current framework for securities regulation, choosing to set up its business in ways that might be expensive to follow existing laws.
The CEO of popular retail trading platform Robinhood says his firm and the U.S. Securities and Exchange Commission (SEC) were engaged in discussions before the regulator issued a Wells Notice. In a new interview on CNBC, Vlad Tenev says that Robinhood met with the SEC several times to address issues with existing securities laws and […]
The post Robinhood CEO Says His Firm Met With the U.S. SEC 16 Times in ‘Good Faith’ Ahead of Crypto-Related Wells Notice appeared first on The Daily Hodl.
U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler thinks American crypto investors aren’t receiving enough information about most digital assets. The SEC recently sent out a Wells Notice to Robinhood’s crypto arm, alerting the retail trading giant that it’s planning to pursue legal action against them. In a recent interview with CNBC, Gensler says […]
The post SEC Chair Warns ‘Many’ Crypto Assets Are Securities, Says Investors Are Not Getting Required Disclosures appeared first on The Daily Hodl.
Digital asset legal expert Jake Chervinsky thinks the U.S. Securities and Exchange Commission (SEC) is allocating a “grossly disproportionate” amount of resources toward regulating crypto. Chervinsky, the chief legal officer at the crypto fund Variant, blasted the SEC for recently sending out a Wells Notice to Robinhood’s crypto trading arm. A Wells Notice is a […]
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