The United States Securities and Exchange Commission (SEC) has reportedly decided not to appeal a recent court ruling in favor of Grayscale Investments. The ruling requires the SEC to review Grayscale’s application for a spot Bitcoin exchange-traded fund (ETF). While Bloomberg analysts believe this decision does not guarantee approval for Grayscale’s application, it does mean […]
Coinbase, a leading cryptocurrency exchange, is intensifying its efforts to compel the United States Securities and Exchange Commission (SEC) to take action on its crypto rulemaking petition. The company is seeking a court order, known as a mandamus, to force the SEC to provide an official response to its petition within 30 days. The SEC […]
Wells Fargo is facing a lawsuit after a customer claimed that the bank froze $204,000 in his account without explanation. Although the bank denies any wrongdoing, it has agreed to hand over a $204,000 check to the customer. The customer’s attorney is now seeking additional funds for damages and attorney fees. This incident comes after […]
Former CEO of investment firm Systematic Alpha Management LLC (SAM), Peter Kambolin, has admitted to participating in a fraudulent scheme known as “cherry-picking.” This practice involved allocating profitable and unprofitable trades in a way that benefited Kambolin’s personal accounts while causing losses for investors. Kambolin also misled clients by claiming that SAM’s trading strategies focused […]
BlockFi CEO Zac Prince testified in the criminal trial of former FTX CEO Sam Bankman-Fried, providing details about BlockFi’s lending relationship with Alameda Research. Prince revealed that Alameda began to dominate BlockFi’s lending activities, and he had conversations with Bankman-Fried regarding the loans. BlockFi had lent out billions of dollars to its clients, with Alameda […]
The U.S. Securities and Exchange Commission (SEC) has decided not to appeal a court ruling that found it unjust to reject Grayscale Investments’ application to create a spot bitcoin exchange-traded fund (ETF). The court had ruled in August that the SEC’s rejection was erroneous, and the SEC’s decision not to contest the ruling could expedite […]
