Daily Archives: July 21, 2022, 11:21 am

SEC Charges Former Coinbase Manager, Two Others in Crypto Asset Insider Trading Action

The SEC’s complaint alleges that, while employed at Coinbase, Ishan Wahi helped to coordinate the platform’s public listing announcements that included what crypto assets or tokens would be made available for trading. According to the SEC’s complaint, Coinbase treated such information as confidential and warned its employees not to trade on the basis of, or tip others with, that information.…

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Jason Calacanis Rips Into ‘Grifting’ VCs Flipping Crypto Tokens to Retail – Bloomberg

While the US Securities and Exchange Commission has gone after a handful of token-based offerings in recent years, Calacanis predicts that a much bigger blowback is coming after trillions of dollars have been wiped off the crypto market and as valuations in Silicon Valley fall: “Sure it would be better if they had given us clear guidelines, but having been in…

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Tesla Sells Majority of Bitcoin After Turbulent Crypto Foray  – Bloomberg

Tesla Inc. sold a significant chunk of its Bitcoin holding, an investment that helped legitimize the world’s largest electronic currency. The carmaker had converted roughly 75% of its Bitcoin to fiat currency as of the end of June, adding $936 million of cash to its balance sheet, according to its shareholder letter on second-quarter earnings. Chief Executive Officer Elon Musk…

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Stablecoins would get federal supervision under emerging House deal – The Washington Post

Top House lawmakers are nearing bipartisan agreement on a proposal to regulate stablecoins, a type of cryptocurrency frequently pegged to the dollar and the subject of intense scrutiny in Washington since last year. The bill — the product of negotiations between House Financial Services Committee Chair Maxine Waters (D-Calif.) and Rep. Patrick T. McHenry (R-N.C.), the panel’s top Republican —…

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It’s Time for the SEC to Overcome a Defensive Bureaucrats’ Approach | National Law Journal

Too much time has been spent, in my view, over the last decade post-Madoff simply addressing a perceived survival risk, a defensive bureaucrats’ approach. The time is now for the agency to take back its place as chief regulator, policy maker and enforcer of our securities markets. And, as to enforcement, it means chasing more than quick-hit cases involving, say,…

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