Subscribe
‘Enforcement 40’ for 2020
Our Sponsors
Join Us On LinkedIn
Join the Securities Litigation and Enforcement Group on LinkedInSEC Launches Game Show-Themed Public Service Campaign
The Securities and Exchange Commission’s Office of Investor Education and Advocacy today unveiled a game show-themed public service campaign to help investors make informed investment decisions and avoid fraud. Recognizing that sometimes investing may look and feel like a game, the campaign titled “Investomania” reminds investors to do their due diligence when making investment decisions. Source: SEC.gov […]
Former Employee Of NFT Marketplace Charged In First Ever Digital Asset Insider Trading Scheme | USAO-SDNY
FBI Assistant Director-in-Charge Michael J. Driscoll said: “In this case, as alleged, Chastain launched an age-old scheme to commit insider trading by using his knowledge of confidential information to purchase dozens of NFTs in advance of them being featured on OpenSea’s homepage. With the emergence of any new investment tool, such as blockchain supported non-fungible […]
As Crypto Losses Hit Investors, Litigation Picks Up – WSJ
“We’re seeing all of the normal kinds of litigation that you would see in more traditional companies,” said Jason Gottlieb, a partner at Morrison Cohen LLP who tracks cryptocurrency litigation. Mr. Gottlieb said the industry also was attracting an influx of plaintiff and defense lawyers who realize the crypto market is no longer “some obscure […]
Sam Bankman-Fried, Crypto Industry Push to Avoid SEC Rule – Bloomberg
It is of course a bit odd for one of the most successful entrepreneurs in crypto, an industry known for pushing legal boundaries, to ask for government regulation, but two things seem to be going on: The first is that Bankman-Fried—and others in the industry—are worried less about the prospect of being regulated than about […]
Australia Crypto ETFs See Trading Evaporate – Bloomberg
Australia got its first exchanged-traded products linked to Bitcoin and Ether last month, and investors reacted with a shrug. Three ETFs (tickers: CBTC, EETH and EBTC) that launched on May 12 have seen trading volumes collapse since they started trading. The Cosmos Purpose Ethereum Access ETF (CPET), which started trading on Tuesday, saw just 2,073 […]
The ESG Bubble Is About to Burst. Good Riddance. – Bloomberg
In these uncertain times we need more shared experiences, even if they include offensive TV, tedious workdays and coping with a volatile stock market. So if you want to save the world, it’s better to buy whatever you want, invest in whatever company looks profitable, and work for the employer that pays you the most. […]
Terra and Luna creators relaunch cryptocurrrencies, and critics are furious – The Washington Post
When two cryptocurrencies crashed roughly three weeks ago, the effects were devastating. Their collapse sparked over $500 billion in losses in the broader crypto market. Numerous investors saw their life savings evaporate. Others contemplated suicide. People called for criminal investigations into the company behind it all and government regulation for the larger market. But now […]
SEC Charges Company and Former CEO with Misleading Investors about Sale of Covid-19 Test Kits
The SEC’s complaint alleges that, with SCWorx struggling financially, Schessel and SCWorx issued a press release on April 13, 2020, falsely stating that SCWorx had a “committed purchase order” from a purported buyer to purchase two million COVID-19 rapid test kits. The press release further stated that the purchase order included a “provision for additional […]
Letter in Support of Responsible Fintech Policy
The catastrophes and externalities related to blockchain technologies and crypto-asset investments are neither isolated nor are they growing pains of a nascent technology. They are the inevitable outcomes of a technology that is not built for purpose and will remain forever unsuitable as a foundation for large-scale economic activity. Given these vast externalities, together with […]