Daily Archives: August 29, 2023, 8:14 am

DOJ Wants to Dismiss FTX Founder’s Expert Witnesses From Testifying

All of FTX founder’s Sam Bankman-Fried’s proposed witnesses should be disqualified from testifying because their disclosure filings are insufficient, their experience may be misleading or their planned testimony may not be relevant, prosecutors said in a late Monday filing. Bankman-Fried’s team, for their part, wants to exclude a financial analysis expert proposed by the Department of Justice because his proposed…

Read More

Gensler Lags Predecessors in SEC Rulemaking as ESG Plans Linger

The SEC under Chair Gary Gensler is issuing regulations at its slowest pace in decades for a new presidential administration, risking leaving climate disclosure rules and other planned ESG reporting priorities unfinished. The Securities and Exchange Commission has adopted only 22 rules since Gensler became the agency’s leader in April 2021, according to a Bloomberg Law analysis. The tally was…

Read More

SEC Charges LA-Based Media and Entertainment Co. Impact Theory for Unregistered Offering of NFTs

The Securities and Exchange Commission today charged Impact Theory, LLC, a media and entertainment company headquartered in Los Angeles, with conducting an unregistered offering of crypto asset securities in the form of purported non-fungible tokens (NFTs). Impact Theory raised approximately $30 million from hundreds of investors, including investors across the United States, through the offering. According to the SEC’s order,…

Read More

Are NFTs Securities? – Bloomberg

I like to explain crypto initial coin offerings by saying that “they’re like if the Wright Brothers sold air miles to finance inventing the airplane,” so here’s another old-timey analogy for non-fungible token offerings. Imagine that one day in the boom times of the 1920s a young animator named Walter Disney shows up at the stock market looking to raise…

Read More