Alameda’s Caroline Ellison and FTX’s Gary Wang Hit With Additional Fraud Charges
The United States Securities and Exchange Commission (SEC) and the Commodities Futures Trading Commission (CFTC) have hit former Alameda Research CEO Caroline Ellison and former FTX co-founder Gary Wang with fresh fraud charges.
SEC Calls FTT Exchange Token a Security
FTX's exchange token FTT was sold as an investment contract, and is a "security," the U.S. Securities and Exchange Commission said in a complaint filed late Wednesday, in a move that is sure to have a wide-ranging impact on the industry. "If demand for trading on the FTX platform increased, demand for the FTT token could increase, such that any price increase in FTT would benefit holders of FTT equally and in direct proportion to their FTT holdings," the SEC wrote in its complaint. "The large allocation of tokens to FTX incentivized the FTX management team to take steps to attract more users onto the trading platform and, therefore, increase demand for, and increase the trading price of, the FTT token." (Coindesk)
SEC Charges Caroline Ellison and Gary Wang With Defrauding Investors in Crypto Asset Trading Platform FTX
Investigations into other securities law violations and into other entities and persons relating to the alleged misconduct are ongoing.
SEC Files Unregistered Securities Charges Against Thor Token Creators for 2018 ICO
The United States Securities and Exchange Commission (SEC) filed a complaint against Thor Technologies and its cofounder and CEO David Chin in U.S. District Court in San Francisco on Dec. 21. The SEC claimed that Thor’s 2018 initial coin offering (ICO) constituted an unregistered securities sale under the Securities Act of 1933.
Ripple and SEC Jointly Request Time Extension to Publicly File Daubert Motions
The parties request a time extension to file their respective Daubert motions in the public docket.
Grayscale May Liquidate 600,000 BTC Holdings Following SEC Opposition to ETF
Grayscale Investments may offer to buy up to 20% of Grayscale Bitcoin Trust (GBTC) shares. This is a move the company hopes will close the gap between the GBTC share price and the company’s underlying Bitcoin holdings.
XRP Lawyer Claims SEC Overall Approach Is to Kill Crypto
XRP Lawsuit News: The U.S. Securities and Exchange Commission (SEC) is allegedly pushing its limits in order to tighten its jurisdiction over the digital asset industry. However, XRP Holders’ lawyer has claimed that the SEC is filing cases against crypto firms as it wants to kill the market.
Ripple CEO Says SEC Chairman Was Caught Flat-Footed When FTX Fraud “Came to Light”
Ripple’s CEO Brad Garlinghouse has slammed SEC chairman Gary Gensler for not investigating bankrupt cryptocurrency exchange FTX before the fall of the crypto trading firm.
Forbes: Whales Moved 1 Billion XRP in Past Week
XRP whales remain active amid the prevailing bear market and uncertainties surrounding the lawsuit between Ripple and the U.S. Securities and Exchange Commission (SEC). The past week has especially witnessed a concentration of whale movements, as whale addresses have moved over 1 billion XRP in the past seven days.
Judge Completely Grants Ripple Recent Request But Denies SEC Motion In Part
Judge Torres has issued an order on the parties’ requests to seal certain documents in connection with the expert challenges.
