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‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInUS Pries Into Over 100 Trader and Banker Phones in Texting Probe – Bloomberg
The US is forcing Wall Street banks to embark on a systematic search through more than 100 personal mobile phones carried by top traders and dealmakers in the largest-ever probe into clandestine messaging on platforms such as WhatsApp. The Securities and Exchange Commission has been sending firms lists of key positions — in some cases […]
Crypto exchange FTX U.S. moves into stock trading
The U.S. affiliate of crypto exchange FTX is rolling out zero-commission stock trading as part of a bigger bet that retail investors will want to see their crypto and stock investments in a single place. FTX U.S. will offer no-fee brokerage accounts, commission-free trading, and market and company data, the company announced Thursday. For now, […]
Krishna Juvvadi Joins Binance.US as Vice President, Head of Legal
Binance.US today announced the appointment of Krishna Juvvadi as Vice President, Head of Legal. In this role, Krishna leads the day-to-day operations of the company’s legal department, helping to support the organization’s continued build out and advancing its efforts to become the most compliant digital asset platform in the United States. He reports to Binance.US […]
Judges Deal Latest Blow to SEC’s In-House Courts – WSJ
In the case decided Wednesday, the judges ruled that a nearly decade-old SEC enforcement action against a small hedge-fund manager was invalid because it violated his right to a jury trial. An SEC judge in 2014 found George Jarkesy liable for fraud, ordering him to pay a $300,000 fine and barring him from the securities […]
‘Pharma bro’ Martin Shkreli released from prison, sent to halfway house
In a statement, the U.S. Bureau of Prisons said Shkreli had been transferred Wednesday from a federal correctional facility in Pennsylvania to a “community confinement” program which is the equivalent of a halfway house. It said his projected release date from federal custody is Sept. 14. In a Facebook post Wednesday, Shkreli, who became known […]
Galaxy CEO Mike Novogratz Preaches ‘Humility’ Expresses Confidence In Crypto’s Future Despite LUNA/TerraUSD Crash
“There is no good news in what happened in markets or to the Terra ecosystem. In Luna and UST alone, $40bn of market value was destroyed in a very short amount of time. Both large and small investors saw profits and wealth vanish. The collapse dented confidence in crypto and DeFi,” said Novogratz in a […]
SEC Chairman Gary Gensler To Visit Appropriations Subcommittee To Discuss Budget: “The Gold Standard For Capital Markets” – Crowdfund Insider
Maintaining the gold standard comes with a cost and the SEC is submitting a budget request for operations of $2.149 billion, an 8 percent increase over FY 2022. Gensler believes this is no time to “scrimp” on resources as the complexity of markets is growing – not receding. Source: SEC Chairman Gary Gensler To Visit […]
Allianz Cooperator Stephen Bond-Nelson Used Bathroom Break to Run Out on SEC – Bloomberg
A former portfolio manager for the Allianz SE unit that agreed to pay $5.8 billion over the implosion of its hedge funds in 2020 saw no escape from the questioning of the SEC’s lawyers. So Stephen Bond-Nelson excused himself to use the bathroom and never returned. At least, not until he decided to plead guilty […]
Disgraced hedge fund tycoon Phil Falcone raising money for crypto TV network
According to people familiar with Falcone’s pitch, the Minnesota native believes the world needs a 24-hour network exclusively devoted to covering cryptocurrencies, NFTs, and Web3 — and he wants to be the one to make it happen. The nascent network’s website is scant on details. The only description of the service says it is “Dedicated […]
How a Trash-Talking Crypto Bro Caused a $40 Billion Crash – The New York Times
Mr. Kwon dismissed concerns with a taunt: “I don’t debate the poor.” But last week, Luna and another currency that Mr. Kwon developed, TerraUSD, suffered a spectacular collapse. Their meltdowns had a domino effect on the rest of the cryptocurrency market, tanking the price of Bitcoin and accelerating the loss of $300 billion in value […]