On Tuesday, Sept. 24, 2024, Caroline Ellison, the former CEO of Alameda Research, was sentenced to 24 months in prison after admitting to her involvement in several crimes. The courtroom banned cameras, video, and phone recordings during the sentencing. Even though the judge commended her in court, saying, “I’ve seen a lot of cooperators in…
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The Digital Chamber filed an amicus brief on Tuesday in support of Nvidia Corp. It focuses on the implications of the Ninth Circuit’s decision for the cryptocurrency industry. The brief argues that the Ninth Circuit’s approach to pleading standards under the Private Securities Litigation Reform Act (PSLRA) could severely impact emerging technology sectors, especially cryptocurrency.…
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The U.S. Securities and Exchange Commission (SEC) has established the Interagency Securities Council (ISC) to enhance coordination among federal, state, and local agencies on securities fraud. The ISC aims to improve fraud prevention, share insights on emerging threats, and foster a unified approach to combating financial fraud. Quarterly meetings will address trends, scams, and mitigation…
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In a landmark federal case, two men were sentenced for manipulating the price of a cryptocurrency and defrauding investors, marking the first instance where “a jury in a federal criminal trial found that a cryptocurrency was a security and that manipulating cryptocurrency prices was securities fraud,” said the head of the Justice Department’s Criminal Division.…
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The U.S. Supreme Court has agreed to hear Nvidia’s appeal to dismiss a securities fraud lawsuit accusing the company of misleading investors about its sales to the cryptocurrency industry. Nvidia’s appeal follows a lower court’s decision to revive a class-action lawsuit. The suit alleges that Nvidia and its CEO, Jensen Huang, downplayed the impact of…
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The U.S. Securities and Exchange Commission has charged a Hawaiian resident for falsely claiming that his fraudulent security would become the “first publicly traded security fund to convert to a cryptocurrency.” According to the Commission, the man promoted the security to boost its price and bolster the value of his portfolio. Fabricated Documents Used to…
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Attorneys defending the co-founder of Terraform Labs, Do Hyeong Kwon, also known as Do Kwon, have presented their argument that says the U.S. Securities and Exchange Commission (SEC) has no jurisdiction in the matter. The legal team asserts that U.S. law precludes regulators “from using federal securities law to assert jurisdiction over the digital assets…
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Sam Bankman-Fried (SBF), the former CEO of FTX, now faces a 13-count indictment as U.S. officials have added new charges. One of the new charges alleges that SBF leveraged $40 million to influence “one or more Chinese government officials.” Details of the Bribery Charges Against Sam Bankman-Fried Sam Bankman-Fried (SBF), the co-founder and former CEO…
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The Titanium Blockchain executive has been finally sentenced after pleading guilty in July last year. The California-based CEO of Titanium Blockchain has been sentenced to four years of prison — putting an end to a 2018 initial coin offering (ICO) saga that stripped investors of $21 million. Michael Stollery, who founded Titanium Blockchain Infrastructure Services…
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The Terraform Labs CEO is now facing fraud charges in South Korea, the Securities and Exchange Commission and federal prosecutors in New York. Terraform Labs CEO Do Kwon has been charged with fraud by United States prosecutors in New York, just hours after he was reportedly arrested in Montenegro. In a court filing signed by…
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