SEC | ForkLog - Part 13

ForkLog 34 20.09.2024

Texas Court Dismisses ConsenSys Lawsuit Against SEC

A federal judge in Texas dismissed ConsenSys’s lawsuit against the U.S. Securities and Exchange Commission (SEC) and its five members, including Chairman Gary Gensler. In April, the firm sued the SEC over the “regulation of ETH as a security.” The claims alleged that the agency orchestrated a campaign “to seize control over the future of […]

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ForkLog 32 18.09.2024

Cencora Pays Record $75 Million Bitcoin Ransom to Hackers

The pharmaceutical giant Cencora, victimized by a cyberattack in February, has paid a record $75 million in bitcoin to the operators of the Dark Angels ransomware. This was reported by Bloomberg, citing informed sources. According to these sources, the payments were made in three installments in March. The initial ransom demand was $150 million. Cencora […]

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ForkLog 16 18.09.2024

NanoBit and CoinW6 Accused of Fraud via Social Media

SEC accused cryptocurrency platforms NanoBit and CoinW6 of deceiving investors and stealing their money through a series of social media scams. Two complaints have been filed against five organizations and three individuals. According to the regulator, NanoBit employees solicited funds from October 2023 to June 2024 through WhatsApp groups, posing as “financial industry professionals.” They […]

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ForkLog 9 18.09.2024

US Lawmakers Seek SEC Clarification on Airdrops

The SEC is urged to clarify its stance on airdrops. This demand is among others in a letter addressed to the agency’s head, Gary Gensler, from a group of Republican congressmen, reports The Block. The letter was signed by the Chairman of the House Financial Services Committee, Patrick McHenry, and the House Majority Leader, Tom […]

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ForkLog 10 14.09.2024

SEC Clarifies Definition of Securities for Cryptocurrencies

The SEC has never considered specific tokens as securities, but has taken into account the full set of contracts, expectations, and agreements regarding the sale of assets. This was stated by the Commission in an amended complaint against Binance. “The SEC regrets any confusion it may have invited” by falsely and repeatedly stating that tokens […]

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ForkLog 10 12.09.2024

SEC Imposes $1.5 Million Fine on eToro Investment Platform

The U.S. Securities and Exchange Commission (SEC) has imposed a $1.5 million fine on the investment platform eToro USA LLC.

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ForkLog 19 12.09.2024

Grayscale to Launch First XRP Fund

Digital asset manager Grayscale Investments has announced the launch of a closed-end fund based on XRP. We are proud to announce the creation of a new single-asset crypto investment fund, Grayscale $XRP Trust, which will be available through private placement. Available to eligible accredited investors. Read the press release: https://t.co/rOmVPUSFxZ pic.twitter.com/WEhk849RmT — Grayscale (@Grayscale) September […]

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ForkLog 40 12.09.2024

Bitcoin’s Record High Forecast Unaffected by US Election Outcome

Bitcoin is poised to reach a new record by the year’s end, irrespective of the results of the US presidential election, according to Standard Chartered, reports The Block. “A Trump victory would push the price to $125,000, while Harris would lead to $75,000,” the review states. Analysts believe that a Republican administration would accelerate progress […]

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ForkLog 10 12.09.2024

US Lawmakers to Investigate SEC for Alleged Hiring Bias

The US House of Representatives is set to investigate the SEC for potentially politically motivated hiring practices. This is outlined in a letter to the agency’s head, Gary Gensler. The joint investigation is spearheaded by Republican chairmen Jim Jordan of the Judiciary Committee, Patrick McHenry of the Financial Services Committee, and James Comer of the […]

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ForkLog 21 10.09.2024

SEC’s Crypto Startup Penalties Reach Record $4.7 Billion

The amount collected by the SEC from enforcement actions related to digital assets in the 2024 fiscal year surged by 3018%, reaching a record $4.7 billion. These calculations were provided by Social Capital Markets. This was primarily driven by the settlement with Terraform Labs and its former CEO Do Kwon for $4.47 billion. In the […]

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ForkLog 13 02.09.2024

SEC’s Intent to Challenge FTX Creditor Payments Sparks Outrage

On August 30, the SEC informed the U.S. Bankruptcy Court in Delaware of its intention to challenge payments to creditors of the defunct cryptocurrency exchange FTX, which are denominated in stablecoins. The relevant document has been published on the restructuring agent Kroll’s website. Source: Kroll. The latest proposed liquidation plan for FTX includes settling creditor […]

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ForkLog 25 27.08.2024

Abra Settles SEC Allegations Over Unregistered Securities Sales

Plutus Lending, the company behind the crypto platform Abra, has settled allegations from the SEC regarding unregistered securities sales. The proceedings began in July 2020. The complaint concerned the Abra Earn yield service, which allowed U.S. clients to earn interest on their cryptocurrencies. The platform allegedly used clients’ digital assets “to generate income and fund […]

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