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Join the Securities Litigation and Enforcement Group on LinkedInSignature Bank’s Prospective Buyers Must Agree to Give Up All Crypto Business: Report
Signature Bank is on the market after being shuttered by state regulators on Sunday, but any potential buyer reportedly has to agree to a major caveat: no crypto. Reuters first reported the development on Wednesday evening, citing sources familiar with the matter. Source: Signature Bank’s Prospective Buyers Must Agree to Give Up All Crypto Business: […]
Cybercriminals’ crypto platform ChipMixer seized in international operation | Reuters
International authorities have cracked down on the cryptocurrency platform ChipMixer, alleging it helped obscure the digital money trail for online drug dealers, Russian military hackers and North Korean cybercriminals, Europe’s Europol police agency and the U.S. Department of Justice said on Wednesday. The site – which authorities say laundered more than $3 billion worth of […]
SEC Proposes New Cybersecurity Rules for Financial Firms – WSJ
Brokers and asset managers would have to notify their customers of data breaches as part of a raft of cybersecurity and resiliency rules the Securities and Exchange Commission proposed Wednesday. The customer-notification requirement would give firms no more than 30 days to alert individuals whose sensitive information was likely to have been accessed without authorization. […]
Gensler suggests proof-of-stake tokens are securities
“The investing public is investing anticipating a return, anticipating something on these tokens, whether they’re proof-of-stake tokens, where they’re also looking to get returns on those proof-of-stake tokens and getting 2%, 4%, 18% returns,” Gensler said. “Whatever they’re promoting and putting into a protocol, and locking up their tokens in a protocol, a protocol that’s […]
FTX Paid Around $2.2B to Sam Bankman-Fried, New Management Says
Bankrupt cryptocurrency exchange FTX transferred $2.2 billion to founder Sam Bankman-Fried through various entities, the firm’s new management said. A total of $3.2 billion was paid to Bankman-Fried and other key employees, according to a Schedules of Assets and Liabilities and Statements of Financial Affairs filed Wednesday, the company said in a statement. Source: FTX […]