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‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInCrypto skeptics have been debating online for years. Now they’re organizing.
Every other Tuesday, a half-dozen people hop onto a Zoom call and talk about how to expose what they see as a global fraud phenomenon: cryptocurrency. The conversation is informal and they talk for only about an hour or so each time, said John Reed Stark, a former government lawyer who participates in the calls. […]
Tornado Cash’s Sanctions Show Shift in Crypto Regulatory Focus – WSJ
The U.S. Treasury Department’s decision to crack down on cryptocurrency platform Tornado Cash for allegedly being used to launder stolen funds—and the subsequent freezing of millions of dollars in assets by one of the largest U.S. stablecoins in compliance with the order—has prompted concerns of excessive government pressure from many crypto participants, particularly those in […]
Crypto Regulation Crackdown Looms for Stablecoin Market – Bloomberg
Lawmakers in the US, the EU, the UK, Japan and others are considering rules that would overhaul the $150 billion sector. Several of these proposed restrictions are intended to bring issuers of the tokens — which are cryptoassets designed to keep a one-to-one peg with a less volatile currency like the US dollar — under […]
WeWork Founder Adam Neumann’s New Start-Up Is Backed By Andreessen Horowitz – The New York Times
Adam Neumann is back. The founder of WeWork, whose spectacular rise and fall has been chronicled in books, documentaries and a scripted television series, has a new venture — and a surprising backer. Mr. Neumann is starting a new company called Flow, focused on the residential real estate market, the DealBook newsletter reports. Notably, it […]
Crypto Reddit Mobilizes After Being Pummeled by Bankruptcies – Bloomberg
A few months ago, Celsius Network LLC’s nearly 47,000-strong Reddit group was filled with talk about how much everyone was earning by lending their coins through the platform. After the company filed for bankruptcy, members began using the forum, among others, to fight for the return of their funds. Reddit, Telegram and Twitter helped drive […]
Acala’s Stablecoin Falls 99% After Hackers Issue 1.3B Tokens
Polkadot-based decentralized finance (DeFi) platform Acala’s native stablecoin, aUSD, depegged on Sunday, plummeting 99% after hackers exploited a bug in a newly deployed liquidity pool to mint 1.28 billion tokens. Acala developers said the bug was caused by a misconfiguration of the iBTC/aUSD liquidity pool shortly after it went live on Sunday. A liquidity pool […]
Crypto Plunge: Pharma Bro Shkreli’s Coin Drops More Than 90% – Bloomberg
Martin Shkreli’s new crypto token appears to have been dumped. Martin Shkreli Inu, a token worth fractions of a penny that was launched by the notorious “Pharma Bro” last month, plunged more than 90% at one point Friday, Binance data shows. The drop came after an unidentified wallet that appears to belong to Shkreli sold a massive […]
Steve Cohen Quietly Setting Up Crypto-only Asset Manager
Hedge fund billionaire Steve Cohen is laying the groundwork for an investment firm focused exclusively on cryptocurrency, according to four sources familiar with the matter. Though the new entity is in its early innings, sources said the business plans to trade spot cryptocurrencies — a segment Cohen’s multi-strategy hedge fund firm, Point72 Asset Management, has […]
BlackRock bitcoin private trust – Institutional | BlackRock
BlackRock is committed to providing clients with access to their choice of investment opportunities and has launched a spot bitcoin private trust. The trust is available to U.S. institutional clients and seeks to track the performance of bitcoin, less expenses and liabilities of the trust. Despite the steep downturn in the digital asset market,1 we are […]
Meme Stock Madness: Swiping EDGAR Codes as a Hostile Takeover Technique? — TheCorporateCounsel.net Blog
… In any event, the press release said that the board subsequently terminated Farnsworth and his pals & promised an 8-K filing. The only problem was that “[t]he Company’s SEC codes and SEC filings by the Company have been blocked by the Farnsworth Group,” so that Form 8-K couldn’t filed until those issues were resolved. […]