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In a statement, SEC Director of Enforcement Gurbir Grewal said, "we allege that this was fraud, pure and simple: while on the one hand FTX touted its supposed effective risk mitigation measures to investors, on the other Mr. Singh and his co-defendants were stealing customer funds using software code Mr.
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Timothy Massad, now a research fellow at Harvard’s Kennedy School of Government, says the government was right in issuing the complaint, adding that while stablecoins present risks, they also open the door to opportunities. Source
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Two civil lawsuits, stemming from the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), against former FTX CEO Sam Bankman-Fried will be paused until his criminal proceedings are complete. US Attorney Requests Pause on SEC and CFTC Lawsuits to Prevent ‘Judicial Overlap’ According to the latest decision
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A New York judge has granted a request from prosecutors to defer civil proceedings from the Commodities Futures Trading Commision (CFTC) and the Securities Exchange Commision (SEC) until after Sam Bankman-Fried’s criminal trial in October.U.S. District Judge of Manhattan Kevin Castel on Feb. 13 granted the motions to stay the
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The request to stay the SEC’s civil case against Bankman-Fried is still pending. Original Source
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Rostin Behnam, chair of the United States Commodity Futures Trading Commission, or CFTC, has said he will be continuing efforts for the agency to regulate non-security tokens.In remarks released for a Feb. 3 American Bar Association event, Behnam pointed to “bankruptcies, failures, and runs” as part of the justification for
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“That culture is not solely part of what’s happening in the subsidiary but it's often influenced by what’s happening in the parents,” Johnson said. She pointed out the CFTC lacked the oversight power to investigate FTX, which was based in the Bahamas at the time it sought Chapter 11 bankruptcy
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Amid ongoing investigations around the defunct crypto exchange FTX, the Commodity Futures Trading Commission (CFTC) questions the due diligence conducted by institutional investors and their accountability regarding the loss of users’ funds.CFTC Commissioner Christy Goldsmith Romero stated that VCs that had to write down their investments in millions of dollars
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Caroline Pham, the Commodity Futures Trading Commission (CFTC) commissioner, has recently called on regulators to provide clearer guidance on crypto assets in 2023. In an interview with Bloomberg, Pham mentioned that discussions with global players over crypto regulations are ongoing. The government official said many foreign discussions are currently happening about global
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The United States Commodity Futures Trading Commission (CFTC) filed suit against self-described digital artist Avraham Eisenberg on Jan. 9, charging him with two counts of market manipulation in connection with an exploit of decentralized finance platform Mango Markets. Eisenberg was arrested on related charges on Dec. 27 and is currently
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