FTX, the crypto exchange that faced bankruptcy in November 2022 is planning to repay creditors in the fourth quarter of 2024 which is starting this October. They are redistributing 16 billion dollars. It owes more than two million customers and other non-governmental creditors about $11 billion. This vital move marks
Mark T. Uyeda, a commissioner at the U.S. Securities and Exchange Commission (SEC), has called for a specialized S-1 registration form tailored to digital asset securities. Speaking during a fireside chat at the Korea Blockchain Week 2024 event in Seoul, Uyeda emphasized the need for the SEC to adopt a
Ripple’s Chief Legal Officer, Stuart Alderoty, has openly criticized the U.S. Securities and Exchange Commission (SEC) for its repeated use of the term “crypto asset security”. Alderoty in his X post stated, “The term ‘crypto asset security’ is nowhere to be found in any statute, it’s a fabricated term with
After the U.S. court’s order for FTX to pay $12.7 billion and repay creditors, the exchange is facing new challenges in its repayment efforts. The US Securities and Exchange Commission (SEC) has issued a warning against the bankrupt exchange’s strategy for repaying creditors. The SEC’s latest filing suggests a “possible
The U.S. Securities and Exchange Commission (SEC) has intensified its regulations in the cryptocurrency sector by issuing a Wells notice to OpenSea, a leading NFT marketplace. This indicates that the SEC is considering legal action against the platform, alleging that the NFTs traded on OpenSea might be under unregistered securities.
The United States Securities and Exchange Commission (SEC) has initiated legal action against two brothers, alleging their involvement in orchestrating a $60 million Ponzi scheme with a non-existent crypto trading bot. The SEC has filed a complaint in the US District Court for the Northern District of Georgia, Atlanta, against
The newest crackdown by the US SEC involves charges against the crypto business Abra for providing consumers with unregistered digital asset services. According to a recent press statement from the US Securities and Exchange Commission, Plutus Lending LLC, also known as Abra, has been charged for providing cryptocurrency solutions without
The SEC has become an integral part of the US crypto regulatory landscape, particularly in the past few months. Amid several lawsuits and reexamination of crypto assets, the regulatory body has hawk-eyed crypto institutions. Recently, on August 22, the SEC raised claims against HEX founder Richard Heart. Notably, the SEC
Binance and its former CEO, Changpeng Zhao (CZ), are facing a new class action lawsuit filed by three crypto investors. The lawsuit alleges that the exchange failed to prevent money laundering, which, in turn, led to the plaintiffs’ inability to recover their stolen assets. The plaintiffs filed this complaint in
The U.S. Securities and Exchange Commission (SEC) has rejected Cboe BZX’s 19b-4 filings for two proposed spot Solana ETFs, according to the reports. This decision led to the removal of the filings from the Cboe website and prevented them from being submitted to the Federal Register, halting any progress toward
