SEC

23 Dec 22

US SEC warns investors against ‘false’ audits by crypto firms

The Securities and Exchange Commission (SEC) through its acting chief accountant, Paul Munter, has warned investors to be “very wary” of the proof-of-reserves (PoR) of crypto firms, as most of them may be inaccurate. SEC raises concerns over crypto exchanges’ PoR audits Following the abrupt collapse of FTX, whose CEO, Sam Bankman-Fried is currently on […]

22 Dec 22

US SEC marks FTX’s FTT as unregistered security

According to a recent filing by the US SEC, FTX’s native token FTT is now classified as a security. According to the watchdog, FTX’s and Alameda’s activities with the token classified it as one.

22 Dec 22

Ripple CEO slams SEC, Wells Fargo as attention shifts to FTX

Ripple Labs CEO Bradley Garlinghouse shared a meme on Twitter, slamming the U.S. Securities and Exchange Commission (SEC) and the fourth-largest bank in the United States, Wells Fargo. The furious tweet comes as both Ripple and the SEC have requested extended time to file for their motions as both parties were asked to file new […]

22 Dec 22

US SEC charges Thor founders for selling unregistered securities in 2018

Thor Technologies, Inc., its founder, David Chin, and co-founder Matthew Moravec were charged for conducting unregistered securities offering and selling “Thor Tokens” by the Securities and Exchange Commission (SEC). Thor’s David Chin charged The SEC filed the complaint on Dec 21 in the U.S. District Court in San Francisco. According to the complaint, Thor and […]

SEC Sparks Interest in Reopening the Ripple Case

21 Dec 22

Ripple, SEC files joint motion asking for more time in pending lawsuit

Per a tweet from James Filan on Tuesday, the Securities and Exchange Commission (SEC) and Ripple have asked for more time to submit their Daubert motions and supporting documentation. They claim that the forthcoming holidays and their lawyers’ busy schedules necessitate more time. An extension request has been filed by the SEC, and Ripple Both […]