2024-04-06
Do Kwon and Terraform Labs found liable for $40 billion fraud April 5, 2024 https://www.web3isgoinggreat.com/ ... [image]
Bloomberg
A US jury finds Terraform Labs and Do Kwon liable for fraud in a US SEC lawsuit, boosting SEC's efforts to assert greater control over the crypto industry
- Terraform 2022 failure wiped out $40 billion in investor funds — Kwon criminal trial on hold over extradition from Montenegro
2023-09-11
Almost $700,000 stolen so far, per @zachxbt (though this counts notoriously difficult-to-value NFTs) https://twitter.com/...
Web3 is Going Just Great
Vitalik Buterin's X account was hacked to promote a crypto scam, leading to an estimated $650K+ of assets being stolen; the tweet was deleted within 20 minutes
Molly White / Web3 is Going Just Great :
2023-03-28
US CFTC sues Binance and CEO Changpeng Zhao March 27, 2023 https://web3isgoinggreat.com/ ... https://twitter.com/...
CFTC
The CFTC sues Binance, CEO CZ, and a former chief compliance officer, calling the company's compliance efforts “a sham” and its structure “intentionally opaque”
“Lim chatted to a colleague: ‘US users = CFTC = civil case can pay fine and settle no kyc = BSA act [sic] = criminal case have to go [to] jail’” https://twitter.com/...
CFTC
The CFTC sues Binance, CEO CZ, and a former chief compliance officer, calling the company's compliance efforts “a sham” and its structure “intentionally opaque”
Firms are not named, but are described as a quant firm HQed in Chicago, with offices in NY and Amsterdam (A); a quant firm HQed in NY and with offices in London, Amsterdam, Hong Kong, and Singapore (B); and a quant firm HQed in NY with offices in London, Singapore, HK, etc (C)
Binance Blog
Binance CEO CZ says CFTC's complaint contains “incomplete recitation of facts” and Binance does not agree with “characterization of many of the issues alleged”
Today, the CFTC filed an unexpected and disappointing civil complaint, despite our working cooperatively with the CFTC for over two years.
Rule 1: If you're going to do crimes, don't put them in writing. Rule 2: If you're going to put them in writing, don't write them in “I CAN HAZ CHEEZEBURGER” style writing, it's embarrassing. https://twitter.com/...
CFTC
The CFTC sues Binance, CEO CZ, and a former chief compliance officer, calling the company's compliance efforts “a sham” and its structure “intentionally opaque”
Rule 1: If you're going to do crimes, don't put them in writing. Rule 2: If you're going to put them in writing, don't write them in “I CAN HAZ CHEEZEBURGER” style writing, it's embarrassing. https://twitter.com/...
Binance Blog
Binance CEO CZ says CFTC's complaint contains “incomplete recitation of facts” and Binance does not agree with “characterization of many of the issues alleged”
Today, the CFTC filed an unexpected and disappointing civil complaint, despite our working cooperatively with the CFTC for over two years.
Violations alleged: I. Execution of Futures Transactions on an Unregistered Board of Trade II. Illegal Off-Exchange Commodity Options III. Failure to Register as a Futures Commission Merchant IV. Failure to Register as a Designated Contract Market or Swap Execution Facility
CFTC
The CFTC sues Binance, CEO CZ, and a former chief compliance officer, calling the company's compliance efforts “a sham” and its structure “intentionally opaque”
Firms are not named, but are described as a quant firm HQed in Chicago, with offices in NY and Amsterdam (A); a quant firm HQed in NY and with offices in London, Amsterdam, Hong Kong, and Singapore (B); and a quant firm HQed in NY with offices in London, Singapore, HK, etc (C)
Bloomberg
The CFTC's case vs. Binance is mainly about US clients, like high-frequency trading firms in NYC and Chicago, using an unregistered crypto derivatives exchange
Matt Levine / Bloomberg :
Okay, wrapping back up now: The CFTC complaint goes on to list three US companies ("Trading Firms A-C") that not only traded on Binance but which CFTC alleges Binance actively aided in circumventing compliance controls by using “personal” accounts, offshore shell companies, etc
Binance Blog
Binance CEO CZ says CFTC's complaint contains “incomplete recitation of facts” and Binance does not agree with “characterization of many of the issues alleged”
Today, the CFTC filed an unexpected and disappointing civil complaint, despite our working cooperatively with the CFTC for over two years.
Okay, wrapping back up now: The CFTC complaint goes on to list three US companies ("Trading Firms A-C") that not only traded on Binance but which CFTC alleges Binance actively aided in circumventing compliance controls by using “personal” accounts, offshore shell companies, etc
Bloomberg
The CFTC's case vs. Binance is mainly about US clients, like high-frequency trading firms in NYC and Chicago, using an unregistered crypto derivatives exchange
Matt Levine / Bloomberg :
US CFTC sues Binance and CEO Changpeng Zhao March 27, 2023 https://web3isgoinggreat.com/ ... https://twitter.com/...
Binance Blog
Binance CEO CZ says CFTC's complaint contains “incomplete recitation of facts” and Binance does not agree with “characterization of many of the issues alleged”
Today, the CFTC filed an unexpected and disappointing civil complaint, despite our working cooperatively with the CFTC for over two years.
Violations alleged: I. Execution of Futures Transactions on an Unregistered Board of Trade II. Illegal Off-Exchange Commodity Options III. Failure to Register as a Futures Commission Merchant IV. Failure to Register as a Designated Contract Market or Swap Execution Facility
Binance Blog
Binance CEO CZ says CFTC's complaint contains “incomplete recitation of facts” and Binance does not agree with “characterization of many of the issues alleged”
Today, the CFTC filed an unexpected and disappointing civil complaint, despite our working cooperatively with the CFTC for over two years.
“Lim chatted to a colleague: ‘US users = CFTC = civil case can pay fine and settle no kyc = BSA act [sic] = criminal case have to go [to] jail’” https://twitter.com/...
Binance Blog
Binance CEO CZ says CFTC's complaint contains “incomplete recitation of facts” and Binance does not agree with “characterization of many of the issues alleged”
Today, the CFTC filed an unexpected and disappointing civil complaint, despite our working cooperatively with the CFTC for over two years.
2023-03-24
These were some of the paid tweets that were made without disclosure. Lohan and Lil Yachty got $10,000, Ne-Yo got $12,000, and somehow Jake Paul got $25,000 for retweeting Lil Yachty. If I was Lil Yachty I'd be mad lol https://twitter.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
These were some of the paid tweets that were made without disclosure. Lohan and Lil Yachty got $10,000, Ne-Yo got $12,000, and somehow Jake Paul got $25,000 for retweeting Lil Yachty. If I was Lil Yachty I'd be mad lol https://twitter.com/...
CNBC
Lindsay Lohan, Jake Paul, and other celebrities agree to pay a combined $400K to settle SEC charges over promoting TRX and BTT without disclosing compensation
These were some of the paid tweets that were made without disclosure. Lohan and Lil Yachty got $10,000, Ne-Yo got $12,000, and somehow Jake Paul got $25,000 for retweeting Lil Yachty. If I was Lil Yachty I'd be mad lol https://twitter.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.
2023-02-18
Press release: https://www.sec.gov/... Complaint: https://www.sec.gov/...
Bloomberg
The SEC sues Terraform Labs and Do Kwon, accusing them of selling unregistered securities and perpetrating a fraudulent scheme that lost $40B+ in market value
Takeaways from SEC complaint Cosmos Ecosystem Chat Newsletter : SEC Charges Do Kwon, Mars on Crescent, Turkey Earthquake Aid Proposal - CEC Issue #25 The Block : U.S. investigation...
SEC files fraud charges against fugitive Terra/Luna CEO, Do Kwon February 16, 2023 https://web3isgoinggreat.com/ ... https://twitter.com/...
Bloomberg
The SEC sues Terraform Labs and Do Kwon, accusing them of selling unregistered securities and perpetrating a fraudulent scheme that lost $40B+ in market value
Takeaways from SEC complaint Cosmos Ecosystem Chat Newsletter : SEC Charges Do Kwon, Mars on Crescent, Turkey Earthquake Aid Proposal - CEC Issue #25 The Block : U.S. investigation...
SEC files fraud charges against fugitive Terra/Luna CEO, Do Kwon February 16, 2023 https://web3isgoinggreat.com/ ... https://twitter.com/...
The Block
Sources: Jump is the unnamed “US trading firm” that the SEC said helped support the TerraUSD stablecoin in May 2021; the SEC has not accused Jump of wrongdoing
Published 1 hour and 25 minutes earlier on — Jump is the unidentified “U.S. trading firm” …