The U.S. Securities and Exchange Commission (SEC) has intervened in the asset purchase agreement between Binance US and bankrupt crypto lender Voyager Digital. The securities regulator explained that it is “formally investigating whether the debtors and others violated the anti-fraud and other provisions of the federal securities laws.” SEC Intervenes in Binance-Voyager Asset Purchase Deal…
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FTX’s bankruptcy filings show a $543 million loan to former engineering director Nishad Singh, who was reportedly a part of the secret ‘wirefraud’ chat group. The United States Securities and Exchange Commission and Commodity Futures Trading Commission and prosecutors are reportedly investigating former FTX engineering director Nishad Singh for potentially having a role in defrauding…
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Alex Mashinsky’s actions leading up to Celsius declaring bankruptcy allegedly contributed to investor losses by misrepresenting the platform’s financial condition. New York Attorney General Letitia James has filed a lawsuit against Alex Mashinsky, alleging the Celsius founder and CEO made numerous “false and misleading statements” which led to investors losing billions. In a Jan. 5…
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Senator Debbie Stabenow was one of the lawmakers behind introducing the Digital Commodities Consumer Protection Act in August. Michigan Senator Debbie Stabenow, chair of the United States Senate Agriculture Committee, has announced that she will be leaving office in 2025. In a Jan. 5 announcement, Stabenow said she would finish the remainder of her 6-year…
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The US crypto exchange Coinbase has agreed to shell out a total of $100m to settle a complaint relating to “certain historical shortcomings” in its regulatory compliance work. The massive amount Coinbase is expected to pay is made up of a $50m penalty to the regulator, as well as another $50m committed to compliance program…
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A New York bankruptcy court has ruled the deposits on high-interest-earning accounts belong to Celsius, the embattled former cryptocurrency lending firm, that filed for Chapter 11 bankruptcy protections in July. The decision establishes a precedent that might affect the status of other, similar cases involving crypto companies like Blockfi and FTX. Celsius Obtains Ownership of…
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The Federal Reserve, the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) have jointly issued warnings about crypto risks to banking organizations. “The agencies have significant safety and soundness concerns with business models that are concentrated in crypto-asset-related activities or have concentrated exposures to the crypto-asset sector,” the…
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The Securities Commission of the Bahamas has disputed FTX’s claim that the value of the cryptocurrencies it seized from the bankrupt crypto exchange was not $3.5 billion. The new FTX chief’s “continued lack of diligence when making public statements concerning the Commission is disappointing,” the Bahamian regulator stressed. Bahamas Regulator and FTX Disagree on the…
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Officials reportedly told a bankruptcy judge they were in the process of seizing 56 million shares of Robinhood tied to FTX and its former CEO, Sam Bankman-Fried. The United States Departure of Justice has reportedly seized or was in the process of seizing more than $400 million worth of Robinhood shares linked to FTX as…
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