2024-12-05
SEC Chair Gensler Pulls Off The First Reverse Saturday Night Massacre . . . It looks like former SEC Commissioner Paul Atkins will be the next SEC Chair. A phenomenal choice. But meanwhile, current SEC Chair Gary Gensler is quietly working behind the scenes to lead the SEC [image]
New York Times
Trump picks former SEC Commissioner Paul Atkins, who is seen as a strong advocate for looser regulation of crypto assets, to succeed Gary Gensler as SEC Chair
Mr. Atkins, a pro-business conservative, would likely take a lighter regulatory approach than the current chair of the Securities and Exchange Commission.
2023-12-26
No More Talking Business During Family Meals (or During Prison Visits) for Billionaire Binance Founder Changpeng Zhao (And More Evidence That the Binance/Zhao Plea Agreement is Doomed) Yi He, Changpeng Zhao's romantic partner and the mother of his three children, is the largest... [image]
Wall Street Journal
A profile of Yi He, a former talk-show host who co-founded Binance with Changpeng Zhao and has sweeping control over its marketing and investment divisions
2023-12-25
No More Talking Business During Family Meals (or During Prison Visits) for Billionaire Binance Founder Changpeng Zhao (And More Evidence That the Binance/Zhao Plea Agreement is Doomed) Yi He, Changpeng Zhao's romantic partner and the mother of his three children, is the largest... [image]
Wall Street Journal
A profile of Yi He, a former talk-show host who co-founded Binance with Changpeng Zhao and has sweeping control over its marketing and investment divisions
Yi He, a former talk-show host, has sweeping control over the crypto giant's marketing and investment divisions.
2023-08-01
Newsflash: Ripple Decision Already in (Big) Trouble SDNY District Judge Jed Rakoff today allowed the SEC to go forward with its case against Terraform Labs and founder Do Kwon. In doing so, Judge Rakoff specifically rejected the distinction made in the Ripple case between public... [image]
CoinDesk
A US judge denies Terraform Labs' motion to dismiss an SEC lawsuit, saying the SEC made a “plausible claim” that UST and LUNA may have violated securities law
ie directly to institutional investors versus to retail investors on exchanges. [image] John Reed Stark / @johnreedstark : Newsflash: Ripple Decision Already in (Big) Trouble SDNY ...
2023-07-31
Tell me you're an absurd, ridiculous and deplorable scam without telling me you're an absurd, ridiculous and deplorable scam. https://newsletter.mollywhite.net/ ...
Molly White
Worldcoin presents a solution in search of its problem, has a shaky ethical foundation, and lacks decentralization or a robust approach to privacy
Worldcoin doesn't seem to know what problem it's trying to solve, but they want to scan your eyeballs anyway.
2023-06-06
Neither the CFTC or SEC case focus on AML and sanctions evasion violations. IMHO, that is the prosecutorial space that has been carved out for a U.S. DOJ case charging Binance. First, US CFTC (derivatives violations) action against Binance. Second, US SEC (securities... https://twitter.com/...
New York Times
The SEC sues Binance and CEO Changpeng Zhao, accusing the company of mishandling billions in customer funds, lying to regulators and investors, and more
Can Pence stand with — and apart — from Trump? Tyler Pearson / DL News : Crypto traders lose $320m in Binance-driven plunge, judge allows bankrupt Genesis mediation extension Chris...
Neither the CFTC or SEC case focus on AML and sanctions evasion violations. IMHO, that is the prosecutorial space that has been carved out for a U.S. DOJ case charging Binance. First, US CFTC (derivatives violations) action against Binance. Second, US SEC (securities... https://twitter.com/...
Bloomberg
The SEC sues Coinbase, alleging the exchange operated as an unregistered broker since at least 2019 and broke the rules by offering “staking”; COIN drops 15%+
The Securities and Exchange Commission sued Coinbase Global Inc. in federal court in New York on Tuesday, alleging the crypto firm for years broke its rules.
2023-05-06
Wow, bold and powerful crypto-regulations proposed in New York. Big Crypto is undoubtedly working feverishly drafting its opposition. This is clearly not the regulatory clarity Big Crypto wants and could set the standard for all U.S. states going forward. https://ag.ny.gov/...
Wall Street Journal
New York's AG proposes the Crypto Regulation, Protection, Transparency and Oversight Act, or CRPTO, seeking broader enforcement authority over crypto companies
Proposed legislation would require crypto exchanges to have independent public audits of financial statements, among other new requirements
2023-04-18
The SEC has now charged crypto asset trading platforms Beaxy and Bittrex for operating an unregistered national securities exchange, broker, and clearing agency. IMHO, Coinbase is next. Don't shoot the messenger. https://www.sec.gov/... https://twitter.com/...
CoinDesk
The US SEC sues Bittrex and its ex-CEO for allegedly operating an unregistered securities exchange, claiming tokens like Algorand and Omise Go are securities
4 recent SEC events indicate that crypto-exchanges … Tweets: @secgov : Today we charged crypto asset trading platform Bittrex Inc. and its co-founder and former CEO William Shihara...
The SEC has apparently issued a Wells Notice to Bittrex for failing to register as an exchange, broker-dealer and clearinghouse, exiling Bittrex offshore (the same charges that the SEC filed against Beaxy). Are you listening Coinbase? IMHO, you are next. https://www.wsj.com/...
CoinDesk
The US SEC sues Bittrex and its ex-CEO for allegedly operating an unregistered securities exchange, claiming tokens like Algorand and Omise Go are securities
4 recent SEC events indicate that crypto-exchanges … Tweets: @secgov : Today we charged crypto asset trading platform Bittrex Inc. and its co-founder and former CEO William Shihara...
2023-03-30
Wondering what the SEC case against Coinbase might look like? Look at the charges in today's SEC case against crypto trading platform Beaxy & its executives re operating an unregistered exchange, broker & clearing agency. The SEC crypto-sweep runneth over. https://www.sec.gov/... https://twitter.com/...
The Block
The SEC sues shuttered crypto exchange Beaxy and its execs for allegedly not registering and Beaxy Digital's founder for raising $8M via unregistered token BXY
2023-03-24
As I predicted, the US SEC wants to hit Coinbase with charges relating to assets listed on its crypto platform and its staking and wallet services. Not surprising at all really. IMHO, Coinbase presents a veritable driver's-ed film of securities violations. https://www.cnbc.com/...
CNBC
Filing: Coinbase received an SEC notice warning the exchange of potential US securities law violations that could lead to enforcement actions; COIN drops 10%+
2023-03-23
As I predicted, the US SEC wants to hit Coinbase with charges relating to assets listed on its crypto platform and its staking and wallet services. Not surprising at all really. IMHO, Coinbase presents a veritable driver's-ed film of securities violations. https://www.cnbc.com/...
CNBC
Coinbase says it received an SEC notice warning the exchange of potential US securities law violations that could lead to enforcement actions; COIN drops 10%+
- The SEC issued crypto exchange Coinbase a Wells notice, warning the exchange that it identified potential violations of U.S. securities law.
2023-03-13
Given Signature/Silvergate failures, any bank doing any sort of crypto-related work poses a systemic threat and faces a 24-7 regulatory colonoscopy. If there is no way to cash-in casino chips after gambling, people will stop going to casinos. Bye crypto. https://news.yahoo.com/... https://twitter.com/...
CNBC
New York shuts down Signature Bank as US regulators cite a “systemic risk exception” like for SVB, announcing all of Signature's depositors will be “made whole”
U.S. regulators said Sunday it shut down New York-based Signature Bank, a second financial institution …
Given Signature/Silvergate failures, any bank doing any sort of crypto-related work poses a systemic threat and faces a 24-7 regulatory colonoscopy. If there is no way to cash-in casino chips after gambling, people will stop going to casinos. Bye crypto. https://news.yahoo.com/... https://twitter.com/...
Bloomberg
The closure of SVB, Silvergate, Silvergate Exchange Network, and Signature adds stress to a troubled crypto industry; fiat conversion costs may rise by 20%-40%
The digital-asset market is coming off of a turbulent year featuring a number of high-profile blowups.
2023-03-09
The beginning of the end of crypto continues. Silvergate's shareholders and investors learned the hard way that when you lie down with dogs, you will wake up with fleas. https://www.bloomberg.com/...
The Block
Silvergate Capital plans to wind down operations and voluntarily liquidate Silvergate Bank, including “full repayment of all deposits”; SI drops 40%+ to ~$5
- Silvergate Capital Corporation said it will wind down operations and voluntarily liquidate Silvergate Bank in accordance with applicable regulatory processes.
2023-03-07
Gotta be impressed with this lawsuit. And more will follow. The FTX bankruptcy team has every incentive to litigate FTX claims aggressively/relentlessly on behalf of creditors. 'Tis only the beginning. The den of thieves have begun to turn on one another. https://www.prnewswire.com/...
The Block
FTX files a lawsuit against Grayscale, CEO Michael Sonnenshein, DCG, and Barry Silbert, citing $1.3B+ in “exorbitant management fees” and seeking $550M+ shares
- FTX' debtors are suing Grayscale Investment, its owners and its CEO over their handling of the Grayscale Bitcoin …
2023-03-06
Seems axiomatic that: 1) Binance/Binance.US is an unlawful, incestuous relationship; and 2) Binance has secretly sought to conceal US ties and to solicit, and transact w/, US investors. My take: Binance-related civil/criminal prosecutions are imminent. https://www.wsj.com/...
Wall Street Journal
Sources and documents: Binance and Binance.US are more intertwined than they have disclosed, sharing staff, finances, and an affiliated entity to trade crypto
Wall Street Journal :
$2.2B of crypto found in FTX wallets w/ only $694M in the “most liquid assets.” But situation is much worse. Ray taking crypto market cap data way too seriously. The idea that any crypto is “liquid” and can be accurately “marked to market” is ludicrous. https://www.coindesk.com/...
CoinDesk
A presentation in FTX's Chapter 11 case shows the crypto exchange identified ~$2.2B of assets in FTX.com wallets and a ~$9.3B net borrowing by Alameda Research
2023-02-22
The SEC's crypto-regulatory carpet bombing continues. Next up: stablecoins, which threaten financial stability, facilitate crime and raise perilous investor protection issues. The SEC has brought 130+ crypto-related cases and has never lost. Do the math. https://www.wsj.com/...
Wall Street Journal
Securities lawyers say the SEC may struggle to win a lawsuit over stablecoins, such as Paxos' BUSD, because owners do not expect profits, part of the Howey test
Agency investigates whether the cryptocurrencies' issuance violated investor-protection laws — Washington's battle to rein in crypto has a new front: stablecoins.