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Join the Securities Litigation and Enforcement Group on LinkedInFTX seeks to claw back over $240 million from Embed acquisition | Reuters
Bankrupt crypto exchange FTX is seeking to claw back more than $240 million it paid for stock trading platform Embed, saying former FTX insiders did no investigation before buying the essentially worthless bug-ridden software platform. FTX filed three lawsuits late Wednesday in U.S. Bankruptcy Court in Delaware targeting former FTX insiders including indicted founder Sam […]
Crypto’s Bitcoin-Spot ETF Unlikely in US Near Future, VanEck’s Jan Van Eck Says – Bloomberg
Investors aren’t likely to see a Bitcoin-spot exchange-traded fund offered in the US anytime soon, according to VanEck Chief Executive Officer Jan Van Eck. “No chance,” Van Eck said as part of a panel at the Bitcoin 2023 conference in Miami Beach on Thursday. “Even if the SEC loses the Grayscale litigation, they’ll just drag […]
SEC Enforcer: ‘You Bet’ There Will Be More Sweeps — Financial Advisor IQ
Grewal is working to quicken the pace of investigations, noting that when he started with the SEC the average length of an investigation was 24 months. Grewal was appointed director of the Division of Enforcement in 2021. “It’s important for accountability, for public trust to move those investigations more quickly, and it’s important for the […]
Guest Post: What has You Worried? Notes from WTW’s 2023 D&O Survey | The D&O Diary
The survey asks respondents to consider two principal categories of risk – risks for businesses and risks for directors and officers. Results from 2023, compared to the two prior years, are below. Consistent with prior years, the top two risk concerns for businesses were: “economic risks” and “cyber risks.” For the first time in the […]
Miami Bitcoin Conference Flags Attendance Down by Half as ‘Crypto Winter’ Drags On
More than 35,000 people attended last year, according to the conference website. Speakers included tennis legend Serena Williams, controversial psychologist Jordan Peterson and MicroStrategy (MSTR) co-founder Michael Saylor. This year, the website says approximately 15,000 devotees of the dominant cryptocurrency – fewer than half as many as last year, likely a symptom of crypto winter […]
Senators Elizabeth Warren and Roger Marshall’s Digital Asset Anti-Money-Laundering Act Won’t Stop Money Laundering, but It Could Ban Crypto
On Capitol Hill, Senator Elizabeth Warren (D-MA) and Senator Roger Marshall (R-KS), are pushing legislation that purports to close loopholes bad actors may exploit to launder money through crypto assets. But what the legislation – the so-called Digital Asset Anti-Money Laundering Act – actually does is further a strategy to ban crypto by treating software […]
Charlie Javice indicted in JPMorgan Chase fraud
Charlie Javice, who has been accused of defrauding JPMorgan Chase into buying her now-shuttered college financial aid company Frank, has been indicted over her relationship with the bank. A four-count indictment made public on Thursday in Manhattan federal court charges Javice with securities fraud, wire fraud, bank fraud and conspiracy. Javice had been arrested on a criminal complaint on April 3, and […]