‘Enforcement 40’ for 2020
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Victims of Bernard Madoff will get another chance at recovering $343 million from Citigroup Inc. after a federal appeals court overturned a ruling dismissing a claim against the bank. The U.S. Court of Appeals in New York on Monday reinstated a suit against Citi by Irving Picard, the trustee charged with recovering money for Madoff’s […]
Goldman Sachs mandates COVID vaccine to enter US offices
Goldman Sachs will require all employees to be vaccinated by Sept. 7, or will forbid them from working in the office, according to a memo obtained by The Post. The move comes after CEO David Solomon called all workers back to the office by June, saying work-from-home policies were an “aberration.” But now, employees who […]
Coinbase slammed for terrible customer service after hackers drain user accounts
After CNBC inquired about what happened to the couple, Coinbase sent Tanja an email on Aug. 20 that said the company “does not have the ability to reverse crypto transfers sent off our platform. Unlike traditional banks or credit card companies, once crypto currency transfers are confirmed on the blockchain, they are permanent.” “Because this […]
They Still Live in the Shadow of Theranos’s Elizabeth Holmes – The New York Times
As Ms. Holmes prepares to go to trial in federal court in San Jose, Calif., over allegations that she defrauded investors, doctors and patients — jury selection is scheduled for Aug. 31 — female founders said the ripple effects from the case could be felt anew. Many said they already had to prove that they […]
Crypto firms are rushing to hire former regulators as federal agencies look to tame the ‘Wild West’ industry
In the past few months, the biggest crypto exchange has brought on a small army of former regulators – including former acting Comptroller of the Currency Brian Brooks, Senate Finance Committee chair Max Baucus, IRS criminal investigator Greg Monahan, and California’s chief financial regulator Manuel Alvarez. Since May, Binance says they have added 110 new […]
‘Massive wake-up call’: Crypto faces growing legal crackdown – POLITICO
The enforcement actions are fueling debate about how cryptocurrency players fit into financial regulations. Federal regulators say the new digital currency platforms must adhere to existing rules, but industry players counter that it’s not that simple and that it’s time for Congress to pass new laws that are more tailored to crypto. “This regulation by […]
Bill Ackman’s SPAC Gets Sued – The New York Times
Pershing Square Tontine Holdings, the special purpose acquisition company run by the billionaire hedge-fund investor Bill Ackman, got sued this morning in a novel case that could have far-reaching implications for the SPAC industry. The case, which is being argued by Robert Jackson, a former S.E.C. commissioner, and John Morley, a law professor at Yale, […]
A Skeptical Stock Analyst Wins Big by Seeking Out Frauds – The New York Times
Mr. Anderson’s five-person firm, which takes its name from the German airship that blew up in 1937, is a newbie in the world of finance. Founded in 2017, Hindenburg specializes in publishing detailed reports about publicly traded companies, poking holes in their stories and alerting investors to potential malfeasance. The boom in special purpose acquisition […]
Hackers Stole More Than $600 Million in Cryptocurrency, Then Gave Some of It Back – WSJ
Poly Network said Wednesday that assets worth around $260 million have been returned. In a series of lengthy question-and-answer posts about the heist on a blockchain account used to hijack the funds, the purported hacker or hackers claimed that they were always planning to return the funds. “I am not very interested in money! I […]
Ex-SEC Director Brett Redfearn Leaves Coinbase After 4 Months – CoinDesk
Coinbase VP of Capital Markets Brett Redfearn is out after just four months on the job, a Coinbase spokesperson told CoinDesk. The Wall Street Journal was first to report the news of the former Securities and Exchange Commission (SEC) official leaving the company at the end of July. The rift points to a strategy shift […]