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‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInCrypto-SPAC Deals Stuck in SEC Limbo as Token Demand Plunges
Crypto companies that have been trying to go public since last year’s boom remain stuck in a lengthy back-and-forth with US regulators, adding to the pile of challenges facing the industry. Bids to merge with blank-check companies are getting scrutiny from accountants at the Securities and Exchange Commissionbecause the asset class raises fresh bookkeeping issues, […]
Elon Musk appeals judge’s refusal to lift SEC restrictions on Tesla tweets
Elon Musk on Wednesday appealed a judge’s refusal to end his 2018 agreement with the Securities and Exchange Commission requiring a Tesla lawyer to vet some of his posts on Twitter. According to a court filing, Musk will ask the 2nd US Circuit Court of Appeals in Manhattan to overturn the April 27 decision by US District Judge Lewis […]
Celsius Withdrawal Freeze Is Crypto’s Latest Crisis – Bloomberg
Celsius Network amassed more than $20 billion in assets with a pitch that seemed to defy the basic physics of finance. Deposit crypto coins and earn interest rates as high as 18%, tens or hundreds of times the rates on traditional savings accounts. “When you look at what the banks pay, you say to yourself, […]
Musk, Tesla, SpaceX Are Sued for Alleged Dogecoin Pyramid Scheme – Bloomberg
Keith Johnson, “an American citizen who was defrauded out of money by defendants’ Dogecoin Crypto Pyramid Scheme,” sued Musk and his companies, claiming they constitute an illegal racketeering enterprise to inflate Dogecoin’s price. “Defendants falsely and deceptively claim that Dogecoin is a legitimate investment when it has no value at all,” Johnson said in his […]
Commissioner Peirce wants SEC to cut itself off at the knees | John Reed Stark on LinkedIn
So what does SEC Commissioner Peirce decide to do during the height of this horrific crypto-carnage? Commissioner Peirce takes the opportunity to give a speech advocating that, when it comes to the cryptocurrency marketplace (bitcoin, DeFi, etc.), the SEC needs to adopt a kinder and gentler enforcement and regulatory approach. Yes, you read that right […]