Daily Archives: September 13, 2022, 9:09 am

An SEC Enforcement Program For Policing WEB3 – The FinReg Blog

The expanded Crypto Assets and Cyber Unit will leverage the agency’s expertise to ensure investors are protected in the crypto markets, with a focus on investigating securities law violations related to: Crypto asset offerings; Crypto asset exchanges; Crypto asset lending and staking products; Decentralized finance (“DeFi”) platforms; Non-fungible tokens (“NFTs”); and Stablecoins. This Web3 regulatory awakening should come as no…

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SEC Charges VMware with Misleading Investors by Obscuring Financial Performance

The Securities and Exchange Commission today charged VMware Inc. for misleading investors about its order backlog management practices, which enabled the Palo Alto, California-based technology company to push revenue into future quarters by delaying product deliveries to customers, concealing the company’s slowing performance relative to its projections. The SEC’s order finds that, beginning in fiscal year 2019, VMware began delaying…

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Tippee Pleads Guilty In First Ever Cryptocurrency Insider Trading Case | USAO-SDNY

Damian Williams, the United States Attorney for the Southern District of New York, announced today that NIKHIL WAHI, the brother of a former product manager at Coinbase Global, Inc. (“Coinbase”), pled guilty to one count of conspiracy to commit wire fraud in connection with a scheme to commit insider trading in cryptocurrency assets by using confidential Coinbase information about which…

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Stock Trades Reported by Nearly a Fifth of Congress Show Possible Conflicts – The New York Times

These lawmakers — all of whom defended the transactions as proper — are among 97 current senators or representatives who reported trades by themselves or immediate family members in stocks or other financial assets that intersected with the work of committees on which they serve, according to an extensive analysis of trades from the years 2019 to 2021 by The…

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Voyager Bankruptcy Auction: Crypto Users Hope Frozen Accounts Get Unlocked – Bloomberg

Customers with their life savings frozen on the insolvent crypto platform Voyager Digital Ltd. are looking to a bankruptcy auction Tuesday for clues on whether or not they’ll finally get their assets back. Voyager users have been unable to access their cryptocurrencies since July 1, when the meltdown in digital assets forced the company to suspend trading, deposits and withdrawals. Now, Voyager has attracted enough interest…

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Twitter v. Musk – Bloomberg

The main point I want to make here is that this is very generalizable. If you know something bad about Twitter, or if you have been reading the merger agreement online and think there’s a clause of the agreement that Musk can use to get out of it, shoot him a tweet. If you’re right, or frankly if you’re wrong,…

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Blockchain Association Sets Up New Crypto Industry PAC

The Blockchain Association is adding its own political action committee to the crypto industry’s growing array of campaign-finance efforts seeking to steer the U.S. government’s debate over digital assets. The BA PAC will contribute to the campaigns of “pro-crypto candidates” from both parties, according to Kristin Smith, the Washington-based association’s executive director. The timing – dated Monday in the group’s…

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The Search for Dirt on the Twitter Whistle-Blower | The New Yorker

As the inquiries proliferated, the group of ex-Stripe employees began to believe, Wasserman told me, “that multiple different sources, multiple different people, multiple different companies, were all basically trying to dig up dirt on Mudge, all seemingly at the same time.” The firms, Provos surmised, were “trying to get information that could further discredit Mudge,” an effort that “seemed incredibly…

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