New York State Attorney General Letitia James has filed a lawsuit against three major cryptocurrency firms, Gemini, Genesis, and Digital Currency Group (DCG), accusing them of defrauding more than 230,000 investors. The lawsuit alleges that the companies attempted to conceal $1.1 billion in losses and repeatedly lied to their investors. The investigation found that Gemini […]
Former FTX CEO Sam “SBF” Bankman-Fried is currently on trial in New York, and new details have emerged regarding the commingling of funds between FTX and Alameda Research. Testimony from FTX’s former general counsel, Can Sun, revealed that he was unaware of the exchange’s commingling of funds with Alameda. Sun learned that Alameda had bypassed […]
Canadian asset manager 3iQ has announced that its Ethereum-based exchange-traded funds (ETFs), The Ether Fund and the 3iQ Ether Fund, will begin staking their ETH holdings for rewards. The move is aimed at providing investors with additional yield generated by dedicated validators on the Ethereum network’s Proof of Stake (PoS) consensus mechanism. By staking their […]
The Federal Deposit Insurance Corporation (FDIC) is under pressure to address the risks associated with cryptocurrencies. The Office of the Inspector General has issued a report urging the FDIC to assess and prepare for the challenges posed by the evolving crypto landscape. The report emphasizes the need for a comprehensive risk assessment and outlines recommendations […]
New York Attorney General Letitia James has filed a lawsuit against cryptocurrency industry players Gemini Trust, Genesis Global Capital, and Digital Currency Group (DCG). The legal action revolves around Gemini Earn, a joint venture between Genesis and Gemini that promised high returns on cryptocurrency deposits. However, James alleges that these returns were based on misleading […]
Grayscale Investments has taken a significant step towards gaining approval for a US spot Bitcoin exchange-traded fund (ETF). The company has filed an S-3 registration statement with the US Securities and Exchange Commission (SEC) to register shares of its Grayscale Bitcoin Trust (GBTC). This move indicates Grayscale’s intention to list the shares on NYSE Arca […]
Billionaires Elon Musk and Mark Cuban have teamed up to challenge the U.S. Securities and Exchange Commission’s (SEC) practice of conducting in-house trials without juries. They have filed a joint amicus brief to the Supreme Court, questioning the legitimacy of the SEC’s administrative proceedings and their impact on the Seventh Amendment right to a jury […]
The approval of a spot Bitcoin ETF is eagerly awaited by the crypto community, as it could attract billions of dollars of institutional money. However, analysts are divided on the potential market reactions to the approval. Recent events, such as the fake ETF news, have shown the significant impact on the market when the SEC […]
Former SEC Chair Jay Clayton believes that the approval of a spot Bitcoin ETF by the Securities and Exchange Commission (SEC) is inevitable. Clayton stated that there is high demand for Bitcoin investments from both retail and institutional investors. Institutional players are eager to gain access to Bitcoin, and trusted providers want to offer this […]
New York’s attorney general, Letitia James, has filed a lawsuit against cryptocurrency firms Gemini, Genesis, and Digital Currency Group (DCG) for allegedly defrauding investors through the Gemini Earn investment program. The lawsuit claims that the companies deceived over 23,000 investors, including 29,000 New York citizens, out of more than $1 billion. According to the investigation […]
