Tag: securities
Coinbase Warned By SEC of Potential Securities Charges
Coinbase described the investigation as “cursory,” and said the Wells notice provided relatively little information about potential violations. “Although we don’t take this development lightly, we are very confident in the way we run our business — the same business we presented to the SEC in order for us to become a public company in 2021,” Coinbase Chief Legal Officer Paul Grewal said in a blog post. The company said that until the resolution of any legal processes, the exchange’s offerings would continue to operate as usual.
Read more of this story at Slashdot.
The SEC has put Coinbase on notice for allegedly breaking securities laws
Coinbase execs revealed today that the crypto exchange has received a “Wells Notice” from the Securities and Exchange Commission, indicating that after an investigation, the agency’s staff plan to recommend some kind of enforcement action. That could include charges or lawsuits, but none of that has happened yet.
Last month, the SEC reached a settlement with Kraken over its crypto staking operation, where the company paid a $30 million fine and shut down US operations right around the same time it sent another Wells Notice to the crypto firm Paxos over its minting of the Binance USD (BUSD) token.
So what happens next? We avail ourselves of the court system to finally start to get some clarity for the crypto industry in the U.S….
SEC sues Tron founder and celebrities, including Lindsay Lohan, Jake Paul and Soulja Boy, for crypto securities violations
The U.S. Securities and Exchange Commission sued Justin Sun, the founder of Tron, on allegations of orchestrating “unregistered offer and sale, manipulative trading and unlawful touting of crypto asset securities,” the agency stated Wednesday. The SEC said it was suing Sun, his Tron foundation, the BitTorrent Foundation and BitTorrent (now referred to as Rainberry) over […]
SEC sues Tron founder and celebrities, including Lindsay Lohan, Jake Paul and Soulja Boy, for crypto securities violations by Jacquelyn Melinek originally published on TechCrunch
SVB Financial confirms that Goldman was buyer of underwater securities last week
Johnson & Johnson files for debt securities offering
Activision Blizzard Charged $35 Million By the U.S. Securities and Exchange Commission
Friday’s top tech news: Jury rules in Elon Musk’s favor in securities fraud trial
Plus fresh details on Meta’s next AI headset, and another smart home company begins its Matter transition.
Elon Musk gets serious about 420 at securities fraud trial
Elon Musk insists that 420 isn’t a joke to him.
In testimony during his ongoing securities fraud trial on Monday, Musk argued that the $420-a-share price he proposed back in his infamous “funding secured” tweet from 2018 wasn’t a weed joke but actually just a coincidence — with a dash of karma.
Musk was asked about the proposed share price by Nicholas Porritt, an attorney for a class of Tesla investors who are suing the billionaire CEO for the loss of millions of dollars that they say resulted from his bungled attempt to take Tesla private. And it prompted an eyebrow-raising response from Musk regarding what he considered a serious proposal despite nearly everyone else taking it as an obvious reference to cannabis.
“You rounded up to…
Elon Musk’s tweets take center stage in opening day of his securities fraud trial
Elon Musk tweets, and “regular people” watch their fortunes evaporate.
That was the argument put before a jury by lawyers representing a class of Tesla investors in opening arguments in Musk’s securities fraud trial, which kicked off today in a courtroom in San Francisco. The plaintiffs are arguing that Musk’s 2018 tweets about taking Tesla private, in which he said he had “funding secured,” led them to lose millions of dollars.
“His lies caused regular people, like Glen Littleton, to lose millions and millions of dollars,” attorney Nicholas Porritt said Wednesday, referring to the lead plaintiff in the class-action case. In order for markets to operate normally and fairly, it’s “critical that he is held — and the company is held —…