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‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInUS Regulators Set Crypto Enforcement Records in 2022 | Solidus Labs
2022 was a rocky year for cryptocurrency. Prices crashed, Terra collapsed, FTX went bankrupt, and – Solidus research now shows – regulators engaged in more crypto-related enforcement than in any other year in the industry’s history. In 2022, the four main federal regulators with authority over cryptocurrency – the Securities and Exchange Commission (SEC), the […]
With Its Adani Report, Hindenburg Is the Latest Short-Selling Villain – Bloomberg
It’s not easy being a short-seller. The odds are stacked against you from the outset. Stocks tend to climb over time, so unlike peers who buy stocks before they sell, you don’t have the tailwind of a rising market. Then you have to navigate a tricky risk-management dynamic: When you’re right, your stocks go down but […]
Celsius! – Bloomberg
On the other hand here are some actual quotes from the bankruptcy report!… In April 2022, Celsius’s Coin Deployment Specialist described Celsius’s practice of “using customer stable coins” and “growing short in customer coins” to buy CEL as “very ponzi like.” A few weeks later when Celsius made another push to prop up the price […]
NFT Stuff – Bloomberg
Or take non-fungible tokens. One common approach with NFTs is that there is some sort of physical or electronic object, and you sell an NFT “of” it. The relationship between the NFT and the object is that the NFT is a label referring to the object. That’s it. Often you also destroy the physical object: […]
Osprey Sues Grayscale (GBTC) for Misleading Advertising on Crypto Trust – Bloomberg
Osprey accused Grayscale of conducting “false and misleading advertising” for the Grayscale Bitcoin Trust (ticker GBTC) since late 2020, according to a complaint filed Monday in Connecticut Superior Court. Grayscale presented that GBTC would be converted into an exchange-traded fund as “foregone conclusion, when it knew that access was never likely to happen,” the suit […]
Fyre Fest fraudster Billy McFarland asking $1,800 an hour for ‘consulting’
Infamous Fyre Festival fraudster Billy McFarland thinks an hour of his valuable time is worth nearly $2,000. The convicted con man, who had nothing but time on his hands while spending four years in prison for bilking investors out of $26 million, recently launched a new scheme that offers advice to tech entrepreneurs for a […]
Wall Street Firm Set to Reap Millions for Untangling FTX Empire
Sullivan & Cromwell, after surviving a push to kick it off the FTX bankruptcy, stands to reap huge fees to sort out the finances of Sam Bankman-Fried’s fallen crypto empire. The Wall Street law firm has more than 150 people working on the FTX case, including 30 partners with rates that exceed $2,000 per hour, […]
Sam Bankman-Fried’s dog can attack on command using secret word
Disgraced former cryptocurrency mogul Sam Bankman-Fried has reportedly enlisted the services of a 75-pound dog who is trained to attack on command using a secret code word. The family of the fallen FTX founder recently purchased Sandor, a German shepherd who is described by Forbes magazine as “welcoming, but trained to attack with the utterance […]
Breach of the Duty of Oversight Liability Extends to Officers as Well as Directors | The D&O Diary
In a shareholder claim against the former global head of HR at McDonald’s, the Delaware Chancery Court has held that liability for breach of the duty of oversight, which Delaware courts had previously extended only to corporate directors, can also extend to corporate officers, as well. In addition, in a separate part of the opinion […]
How the Crypto Industry Can Prepare for Regulatory Scrutiny: Earn Respect from Regulators – CoinDesk
Their posture is not, “We’ve seen what’s happened with FTX and others and think it’s time we bring regulation to the space to make it safer.” Rather, it seems to be: “We don’t want to have any responsibility for this space that we think is disreputable and risky, and we certainly don’t want to be […]