Unregistered Securities

Trusttoken, Truecoin Settle SEC Charges Over Misleading TUSD Claims

September 25, 2024

The U.S. Securities and Exchange Commission (SEC) announced settled charges against crypto companies Trusttoken Inc. and Truecoin LLC. The charges allege fraudulent misrepresentations and unregistered sales of investment contracts related to the stablecoin trueusd (TUSD). U.S. Securities Regulator Charges Crypto Companies Trusttoken and Truecoin According to the SEC’s complaint released on Tuesday, Truecoin and Trusttoken…
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SEC Charges Defi Platform Rari Capital and Founders

September 19, 2024

The U.S. Securities and Exchange Commission (SEC) has announced charges against decentralized finance (defi) platform Rari Capital and its co-founders for misleading investors and operating as unregistered brokers. The settlement involves penalties, injunctions, and bars against the individuals involved, with violations stemming from unregistered securities offerings and deceptive practices. SEC Charges Defi Platform Rari Capital…
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SEC Charges Abra With Unregistered Sales of Crypto Asset Securities

August 26, 2024

The U.S. Securities and Exchange Commission (SEC) has filed settled charges against Plutus Lending LLC, operating as Abra, for failing to register the offers and sales of its crypto asset lending product, Abra Earn. The SEC also accused Abra of operating as an unregistered investment company, further complicating the firm’s regulatory standing. SEC Targets Abra…
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Crypto Lender Genesis Agrees to $21 Million SEC Fine, Funds to Await Bankruptcy Claim Settlements

March 19, 2024

Genesis Global Capital has settled with the U.S. Securities and Exchange Commission (SEC) and agreed to pay a $21 million civil penalty. The SEC further disclosed that the regulator will “not receive any portion of the penalty until after payment of all other allowed claims by the bankruptcy court, including claims by retail investors in…
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Football Icon Cristiano Ronaldo’s Past Promotion and Endorsement of Binance Lands Him in Trouble

December 1, 2023

Portuguese football icon Cristiano Ronaldo is facing a lawsuit which accuses him of participating “in the offer and sale of unregistered securities in coordination with Binance.” One of Ronaldo’s latest social media posts suggests that he is still collaborating with the cryptocurrency exchange. Ronaldo’s Coordination With Binance The celebrity Portuguese footballer and one of the…
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Cristiano Ronaldo sued for promoting Binance, unregistered securities

November 29, 2023

The soccer star’s Binance-tied NFTs allegedly promoted investments in unregistered securities on the crypto exchange. Pro-soccer star Cristiano Ronaldo has been hit with a proposed class-action lawsuit from plaintiffs claiming they suffered losses from his promotion of the now-legally embroiled crypto exchange Binance. A Nov. 27 filing to a United States district court in Florida claimed…
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Coinbase disputes SEC’s crypto authority in final bid to toss regulator’s suit

October 25, 2023

Coinbase says the SEC’s definition of an investment contract isn’t in line with U.S. securities laws. The United States Securities and Exchange Commission overstepped its authority when it classified Coinbase-listed cryptocurrencies as securities, the exchange has argued in its final bid to dismiss a lawsuit by the securities regulator. In an Oct. 24 filing in…
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Celsius Founder Alex Mashinsky’s Bail Set at $40 Million, Travel Restricted Amid Fraud Charges

July 14, 2023

Just before the now-defunct crypto lender Celsius was charged by three U.S. federal regulators — the Commodity Futures Trading Commission (CFTC), Securities and Exchange Commission (SEC), and Federal Trade Commission (FTC) — its former CEO, Alexander Mashinsky, was arrested on fraud charges Thursday. A U.S. judge has set Mashinsky’s bail at $40 million and restricted…
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Crypto Market Remains in ‘Bitcoin Season’ as ‘Altcoin Season’ Drought Hits Record Two-Year Mark

July 11, 2023

According to data, the cryptocurrency ecosystem has endured its longest stretch without an altcoin season. So far, it has been more than two years without an altcoin season, and there have been no signals indicating one might emerge. Altcoin Season Eludes Cryptocurrency Market for 2 Years Recently, social media and cryptocurrency-related forums have been abuzz…
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Bakkt Takes Proactive Measures, Delists Polygon, Solana, and Cardano Amid Regulatory Crackdowns

June 16, 2023

According to a Fortune report published on June 16, the cryptocurrency asset platform Bakkt is delisting three cryptocurrencies due to the current regulatory climate. Bakkt’s general counsel stated that the platform will expand its coin offering once there is “further clarity.” Bakkt Reacts to Regulatory Pressure, Delists Solana, Polygon, and Cardano Bakkt, the New York-based…
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Tag: Unregistered Securities