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‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedIn‘Pharma bro’ Martin Shkreli released from prison, sent to halfway house
In a statement, the U.S. Bureau of Prisons said Shkreli had been transferred Wednesday from a federal correctional facility in Pennsylvania to a “community confinement” program which is the equivalent of a halfway house. It said his projected release date from federal custody is Sept. 14. In a Facebook post Wednesday, Shkreli, who became known […]
Galaxy CEO Mike Novogratz Preaches ‘Humility’ Expresses Confidence In Crypto’s Future Despite LUNA/TerraUSD Crash
“There is no good news in what happened in markets or to the Terra ecosystem. In Luna and UST alone, $40bn of market value was destroyed in a very short amount of time. Both large and small investors saw profits and wealth vanish. The collapse dented confidence in crypto and DeFi,” said Novogratz in a […]
SEC Chairman Gary Gensler To Visit Appropriations Subcommittee To Discuss Budget: “The Gold Standard For Capital Markets” – Crowdfund Insider
Maintaining the gold standard comes with a cost and the SEC is submitting a budget request for operations of $2.149 billion, an 8 percent increase over FY 2022. Gensler believes this is no time to “scrimp” on resources as the complexity of markets is growing – not receding. Source: SEC Chairman Gary Gensler To Visit […]
Allianz Cooperator Stephen Bond-Nelson Used Bathroom Break to Run Out on SEC – Bloomberg
A former portfolio manager for the Allianz SE unit that agreed to pay $5.8 billion over the implosion of its hedge funds in 2020 saw no escape from the questioning of the SEC’s lawyers. So Stephen Bond-Nelson excused himself to use the bathroom and never returned. At least, not until he decided to plead guilty […]
Disgraced hedge fund tycoon Phil Falcone raising money for crypto TV network
According to people familiar with Falcone’s pitch, the Minnesota native believes the world needs a 24-hour network exclusively devoted to covering cryptocurrencies, NFTs, and Web3 — and he wants to be the one to make it happen. The nascent network’s website is scant on details. The only description of the service says it is “Dedicated […]
How a Trash-Talking Crypto Bro Caused a $40 Billion Crash – The New York Times
Mr. Kwon dismissed concerns with a taunt: “I don’t debate the poor.” But last week, Luna and another currency that Mr. Kwon developed, TerraUSD, suffered a spectacular collapse. Their meltdowns had a domino effect on the rest of the cryptocurrency market, tanking the price of Bitcoin and accelerating the loss of $300 billion in value […]