Reported by: Lydia Beyoud, Yueqi Yang, and Olga Kharif US regulators are investigating whether beleaguered crypto-exchange FTX.com mishandled customer funds, and they’re looking into the firm’s relationships with other parts of Sam Bankman-Fried’s crypto empire. The inquiries by the Securities and Exchange Commission and the Commodity Futures Trading Commission relate to the liquidity crisis that […]
Reported by: Donal Griffin, Amelia Pollard and Nishant Kumar Over almost three decades in the City of London, the aggressive trading strategies of Glen Point Capital co-founder Neil Phillips made him few friends even as they burnished his reputation as a hard-charging trader. Those sharp elbows have now drawn the attention of the US Department […]
Reported by: Jonathan Stempel Bill Hwang, whose Archegos Capital Management LP collapsed suddenly in March 2021, on Tuesday urged a federal judge to dismiss a U.S. Securities and Exchange Commission civil lawsuit accusing him and his once-$36 billion private investment firm of fraud. In court filings, Hwang and Archegos said the SEC failed to show […]
Reported by: Jonathan Browning Sigma Broking Ltd. was fined £530,000 ($596,830) for a series of reporting failures, the Financial Conduct Authority said Thursday. The regulator, which has recently prioritized cases of market abuse, said managers acted negligently while compliance and oversight was “unclear and confused.” The privately-owned brokerage missed 97 suspicious transactions or orders that […]
Reported by: Steve Kaaru Digitex started operations in April 2020 after months of running its beta under which users could only purchase its native DGTX tokens. Just before it launched, it was hit by a data breach in which sensitive data for over 8,000 users was stolen and some of it leaked. Following the breach, […]
Reported by: Danny Nelson Kim Kardashian’s $1.26 million regulatory fine this week for improperly touting a cryptocurrency raises many questions, but a big one is this: what the heck is EthereumMax (EMAX), the token she shilled? Though the name begins with Ethereum, it’s not the second-largest cryptocurrency, but rather a token built on top of […]
Reported by: U.S. Securities and Exchange Commission The Securities and Exchange Commission today announced charges against The Hydrogen Technology Corporation, its former CEO, Michael Ross Kane, and Tyler Ostern, the CEO of Moonwalkers Trading Limited, a self-described “market making” firm, for their roles in effectuating the unregistered offers and sales of crypto asset securities called […]
Reported by: Kaye Wiggins Sweden’s financial regulator has closed a year-long market abuse probe into a $2.7bn share sale by top executives at private equity group EQT and will not take action against the buyout group. The Swedish Financial Supervisory Authority investigated whether Stockholm-based EQT violated market abuse rules by failing to promptly disclose that […]
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