Activity tagged "SEC"
SEC Chair Paul Atkins sworn in
Meet our new SEC Chair, Paul Atkins. Who better for the role than a Project 2025 architect who blamed the FTX fraud on the US not being "accommodating" to blockchain technology?
@molly0xfff Who better to regulate financial markets than Paul Atkins, a Project 2025 architect who blamed the FTX fraud on the US not being "accommodating" to blockchain technology? #sec #trumpadministration #project2025 #paulatkins ♬ original sound - Molly White
Issue 81 – Crypto crime is legal
Issue 79 – Mundus sine Caesaribus
Issue 78 – President on brink of bailout for bitcoin
Coinbase says that the SEC has agreed to drop the enforcement case against the company. It only cost them $75 million in political contributions.
(Don’t forget that $50 million of those contributions appeared to be blatantly illegal, although Trump is already hard at work making the Federal Elections Commission even less effective than it previously was.)
SEC moves to freeze lawsuit against Binance
Although early reporting suggested the SEC would likely look to “potentially freeze some litigation that does not involve allegations of fraud”, the first case the SEC has proposed freezing is SEC v. Binance: a case alleging serious fraud and knowing violation of US securities laws.
The original complaint alleges that not only did Binance lie about trying to prevent fraudulent behavior on Binance.US, one of the primary companies involved in illegal wash trading on the exchange was controlled and operated by Binance’s founder and Binance employees.
Despite claims from the SEC’s new leadership that they intend to provide “sensible, clear rules” without providing a “haven for fraudsters”, this action definitely seems to reveal their true marching orders.
It’s likely that they will soon request to pause ongoing enforcement cases against companies including Coinbase, a company which has alone spent more than $100 million on political lobbying over the past two years.