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‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInSam Bankman-Fried Blames Everyone but Himself for FTX’s Collapse
Most notably, Bankman-Fried still seems unwilling to take any responsibility for what happened — or even register that $8 billion *somehow* went missing, people lost life savings or that he could spend the next decades of his life rotting in prison. And, somehow, his biggest regret still seems wrapped up in his fallen public persona, […]
You Might Be Paying Too Much for That Index Fund – WSJ
Index-tracking funds are inching closer to free. State Street last month slashed the fee on its cheapest S&P 500 exchange-traded fund, known by ticker symbol SPLG, to 0.02%—making it less than a quarter of the cost of its popular SPY fund that tracks the same stocks. It is now the cheapest index fund in its […]
Gary Gensler Tells a Climate Whopper – WSJ
The Chairman’s biggest whopper was his assertion that “we have no climate agenda whatsoever.” Yet emails obtained by Energy Policy Advocates through a Freedom of Information Act request show that SEC officials have been working on the rule with the climate outfit Ceres, whose stated goal is to “achieve a zero emissions future.” Mr. Gensler […]
Wall Street Is Furious Over Rising Fines From SEC – WSJ
Wall Street is feeling the pain of inflation—at the tills of its regulators. Big banks and brokerage firms are handing over bigger checks to settle regulatory investigations, including those that don’t result in losses for investors. U.S. market regulators are increasingly demanding tens of millions of dollars to settle technical violations that just a few […]
SBF ripped Caroline Ellison over FTX crisis
Sam Bankman-Fried shredded his ex-lover Caroline Ellison’s handling of the crisis that eventually toppled FTX and said he felt “claustrophobic” in their relationship, according to a trove of his unsent tweets and other documents. In writings compiled while he was under house arrest, Bankman-Fried reportedly blamed Ellison, who served as CEO of FTX’s sister cryptocurrency […]
Billionaire Cuban Loses Ether, RARE, and Other Tokens to Crypto Phishing Scam
Dallas Maverick owner and billionaire technology investor Mark Cuban lost some $870,000 worth of tokens over the weekend after likely clicking on a phishing link after “months of inactivity.” Phishing attacks trick users into divulging sensitive data, downloading malware, and exposing their private information. Such attacks are extremely common in the crypto industry, as users […]