Daily Archives: October 4, 2023, 8:29 am

Capital One data stolen by analyst in $3.1 million insider trading scheme – Augusta Free Press

A foreign national who previously lived in Henrico pleaded guilty Thursday to conspiracy and insider trading. Nan Huang, 44, conspired with his then-coworker to commit insider trading, according to court records. From 2008 to 2015, Huang worked as a senior data analyst for a subsidiary of Capital One Financial Corporation. As a senior data analyst, Huang had access to a…

Read More

SEC Bid for Quick Appeal of Ripple Labs Crypto Ruling Is Denied by Judge – Bloomberg

The federal judge who ruled that Ripple Labs Inc.’s cryptocurrency doesn’t constitute a security when sold to the general public denied the US Securities and Exchange Commission’s request to appeal the determination before trial. US District Judge Analisa Torres on Tuesday ruled against the regulator in a case it filed against Ripple in Manhattan federal court. A trial is scheduled…

Read More

Sam Bankman-Fried Sues His Insurer as Legal Bills Mount and Fraud Trial Begins

Crypto tycoon Sam Bankman-Fried has sued his insurance provider, CNA, for allegedly failing to pay legal costs linked to his defense against fraud allegations. *** CNA, also known as the Continental Casualty Company, has “unjustifiably failed to make timely payment on Mr. Bankman-Fried’s claims as required by the Policy,” said the filing, adding that those alleged breaches “have caused, and…

Read More

U.S. Crypto Regulation Irrelevant to Sam Bankman-Fried FTX Allegations, DOJ Says in Fraud Trial Arguments

“While the existence of a law might be relevant to establish a statutory duty of care, the absence of regulation is not relevant to whether money was, in fact, entrusted to the defendant’s care by his victims,” the DOJ filing said, adding that the existing criminal rulebook is sufficient. “There are prohibitions on misappropriating customer assets – they are the…

Read More

SEC Coinbase Case: Regulator Doubles Down on Claims Against Crypto Exchange – Bloomberg

The Securities and Exchange Commission is pushing ahead with its litigation against Coinbase Global Inc., raising the stakes further in the case against the biggest US crypto exchange. T he SEC on Tuesday asked a federal judge to reject Coinbase’s attempts to have the agency’s lawsuit tossed. The company had argued that the watchdog “abused its discretion” in claiming that…

Read More

SEC: Whistleblowers – Bloomberg

D.E. Shaw paid $10 million. I hope somebody is getting a whistleblower payment for this? Maybe the easiest lucrative job in finance is: Take a job at a hedge fund. Get handed an employment agreement on the first day that says “you agree not to disclose any of our secrets unless required by law.” Sign. Take the agreement home with…

Read More