Daily Archives: June 1, 2022, 5:37 pm

SEC 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 | SEC Launches Game Show-Themed…

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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 tokens, there are those who…

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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 the team behind the failed…

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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 weekly orders of 2 million…

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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 the-at best still-ambiguous and at…

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