John Reed Stark – Ƀitsell X

Former SEC Official Urges 15,000 Morgan Stanley Advisors to ‘Say No’ to Bitcoin ETFs, Citing ‘Mammoth Risk’

August 9, 2024

The U.S. Securities and Exchange Commission’s former head of internet enforcement, John Reed Stark, has raised concerns about Morgan Stanley’s 15,000 financial advisors promoting cryptocurrency investments, citing risks to retail investors and potential career consequences for advisors. He warned that the advisors could risk their Certified Financial Planner credentials if they fail to adhere to…
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US Judge Backs SEC: Trading of Certain Cryptocurrencies on Secondary Markets Are Securities Transactions

March 7, 2024

A U.S. district judge has sided with the Securities and Exchange Commission (SEC) in a ruling that declares the trading of certain crypto assets on secondary markets to be securities transactions. This decision emerged from an insider trading case involving crypto exchange Coinbase’s former product manager Ishan Wahi, his brother Nikhil Wahi, and their friend…
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Former SEC Official: Crypto Holds the Key to 2024 US Presidential Election

January 21, 2024

The U.S. Securities and Exchange Commission’s former head of internet enforcement has explained that crypto holds the key to the 2024 U.S. presidential election. He stressed that every U.S. presidential candidate should immediately appoint an internal Crypto Czar. “The stark reality is that above all else, people have always voted with their wallets,” he emphasized.…
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Former SEC Official Blasts Spot Bitcoin ETFs as Recipe for ‘Financial Ruin’

January 10, 2024

The U.S. Securities and Exchange Commission’s former head of internet enforcement has warned about investing in spot bitcoin exchange-traded funds (ETFs), which the SEC is expected to approve on Wednesday. He cautioned that spot bitcoin applicants are “nothing more than an opportunistic cartel of fee-sucking billionaire financial behemoths who have the audacity to design and…
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Former SEC Official Warns Spot Bitcoin ETFs Will Create ‘Wall Street Fee-Sucking Scam of Epic Proportions’

December 28, 2023

The U.S. Securities and Exchange Commission’s former head of internet enforcement has warned that spot bitcoin exchange-traded funds (ETFs) “will create yet another Wall Street fee-sucking investor scam of epic proportions.” In addition, he stressed that it will likely be the most centralized crypto contraption conceivable. Ex-SEC Official’s Spot Bitcoin ETF Warnings Former U.S. Securities…
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Former SEC Official Says Gary Gensler’s Legacy Could Be the Approval of Spot Bitcoin ETF

December 24, 2023

The U.S. Securities and Exchange Commission’s former head of internet enforcement, a crypto skeptic, now believes that the SEC is likely to approve a spot bitcoin exchange-traded fund (ETF). He further expressed that “the legacy of SEC Chair Gary Gensler could be the approval of a spot bitcoin ETF,” emphasizing: “That is a mammoth victory…
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Why Are Crypto Prices Up? Former SEC Official Says There Are 2 Reasons

December 6, 2023

The U.S. Securities and Exchange Commission’s former head of internet enforcement believes that there are two reasons why crypto prices are up. The first concerns regulatory oversight of the cryptocurrency industry, while the second revolves around the concept of the greater fool theory. The former SEC official also dismissed the reported 90% likelihood of the…
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SEC Scores ‘Huge Victory’ in Binance-DOJ Settlements, Former SEC Official Says

November 25, 2023

The U.S. Securities and Exchange Commission’s former head of internet enforcement has detailed why the SEC is a huge winner in the Binance settlements with the U.S. Department of Justice (DOJ), the Treasury, and other federal authorities. He stressed that what Binance has agreed to could “strengthen” the SEC’s lawsuit against the crypto exchange and…
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SEC’s ‘Secret’ Filing in Binance Case Could Relate to Criminal Investigation, Says Former SEC Official

August 30, 2023

The U.S. Securities and Exchange Commission’s former head of Internet enforcement suspects that the SEC’s “secret” filing in the Binance case is a “rare” tactic that could relate to the Department of Justice’s criminal investigation against the crypto exchange. He stressed that the securities regulator’s “seal-seeking filing is unusual, odd, and uncommon,” emphasizing that the…
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Former SEC Official Warns ‘Crypto Regulatory Onslaught Will Never End’

August 13, 2023

The U.S. Securities and Exchange Commission’s former head of internet enforcement has warned that “crypto regulatory onslaught will never end.” He claimed that cryptocurrency trading platforms, like Binance and Coinbase, are simply playing “a short game of regulatory arbitrage, all carried out in an effort to make as much fiat as possible before their inevitable…
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