Daily Archives: May 20, 2024, 8:20 am

Brooklyn Man and Cryptocurrency Personality “T.J. Stone” Pleads Guilty to Wire Fraud | United States Department of Justice

Yesterday, in federal court in Brooklyn, Thomas John Sfraga, also known as “T.J. Stone,” pleaded guilty to an information charging him with wire fraud.  The proceeding was held before Chief United States Magistrate Judge Lois Bloom.  When sentenced, Sfraga faces a maximum sentence of 20 years’ imprisonment, as well as restitution of over $1.33 million. *** “For years, Sfraga brazenly…

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Crypto Industry Rallies Behind U.S. House Bill As it Heads Toward Final Vote

The U.S. House of Representatives is on the verge of a vote that will represent the closest the cryptocurrency industry has ever been toward finally winning regulation in the U.S., and the sector’s associations and top businesses are encouraging House leaders to support the effort. *** The bill would set the Commodity Futures Trading Commission (CFTC) as a leading regulator…

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GameStop, AMC, Roaring Kitty Is the Poster Child for Meme-Obsessed Generation T – Bloomberg

The surge in trading by bored retail investors working from home during lockdowns may have sparked the meme stock and crypto pile-ons, but it’s been accompanied by an underlying shift in the style of personal portfolio trading. Insane volatility has had the reverse effect on Gen-Z and Millennials by encouraging them to take bigger risks, rather than fleeing from price…

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Binance Gets Two Compliance Monitors in Settlements With U.S. Authorities – WSJ

U.S. regulators have appointed two separate independent compliance monitors to ensure cryptocurrency exchange Binance meets the requirements set forth in its settlements over money-laundering and sanctions violations. The U.S. Justice Department has chosen Frances McLeod, a founding partner at forensic consulting firm Forensic Risk Alliance, for the three-year-monitorship of Binance, according to a Binance spokesperson. The Treasury Department’s Financial Crimes…

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Is ESG a “Luxury Good”? | The D&O Diary

The authors then go on to observe that to date, “many boards have viewed investment in ESG as economically – or at least socially — beneficial.” However, because there has been little research by researchers that have no preferred outcome, the economic consequences of ESG “have never been rigorously demonstrated.” In the absence of this kind of evidence, and with…

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