S.Grewal News

Investors are at a heightened risk of cryptocurrency scams tied to fake relationships established over social media, dating apps and networking sites, federal officials warn.

After a three-year stint leading the Securities and Exchange Commission’s (SEC) enforcement division, Director Gurbir S. Grewal announced his resignation on Wednesday.

Shares of Trump Media tumbled on Friday following news that the SEC charged the company’s auditing firm, BF Borgers CPA, for “massive fraud” and systemic non-compliance with critical auditing standards.

The SEC charged Gemini and Genesis’ crypto asset lending program, Gemini Earn, in January 2023.

The US Securities and Exchange Commission (SEC) has taken legal action against 17 individuals involved in an alleged $300 million Ponzi scheme operating under the name CryptoFX, a cryptocurrency trading platform. 

BarnBridge DAO and its two founders are set to pay the SEC over $1.7 million to settle allegations of neglecting to register the offer and sale of BarnBridge’s structured crypto asset securities.

The U.S. Securities and Exchange Commission (SEC) has filed a complaint against Payward Inc. and Payward Ventures Inc., collectively known as Kraken, for operating their cryptocurrency trading platform without the necessary registrations. The complaint, filed in San Francisco, alleges violations dating back to September 2018. Kraken is accused of functioning as an unregistered exchange, broker, dealer, and clearing agency, amalgamating the roles of these entities without proper registration. This reportedly deprived investors of crucial protections, such as SEC inspection and safeguards against conflicts of interest.

The Securities and Exchange Commission has fined nine RIAs that advertised hypothetical performance to the public, contrary to the regulator’s Marketing Rule.

The U.S. Securities and Exchange Commission (SEC) has charged John A. DeSalvo, a former New Jersey State Correctional Police Officer, with fraudulently raising funds through the unregistered offering of the Blazar Token, a crypto asset security he created. The token saw its downfall in May 2022.

A former corrections officer from New Jersey has been arrested for targeting law enforcement and first responders in an investment scheme involving a digital token. 

The Securities and Exchange Commission (SEC) revealed on August 10, 2023 , that Bittrex Inc., a prominent crypto trading platform, and its co-founder and erstwhile CEO, William Shihara, have reached a settlement over allegations of operating without proper registrations. The charges encompassed operating an unregistered national securities exchange, broker, and clearing agency. Bittrex's international counterpart, Bittrex Global GmbH, was similarly implicated for neglecting to register as a national securities exchange.

Digital World Acquisition Co., a blank-check company, has found itself entangled in a web of legal trouble with the Securities and Exchange Commission over its proposed merger with media giant Trump Media and Technology Group.

The Securities and Exchange Commission (SEC) says a former advisor to the families of U.S. Army heroes defrauded them by making unauthorized trades and inappropriate investment recommendations.

Binance, the world's largest cryptocurrency exchange, has been ordered to repatriate and maintain within the country all its U.S. customers' assets, ensuring Binance.US users can access funds while the exchange battles a lawsuit by federal regulators.

The U.S. Securities and Exchange Commission announced today that it has filed charges against Binance, the world’s largest cryptocurrency exchange, for violating federal securities laws.

According to the SEC’s complaint, since at least 2019, Coinbase "has made billions of dollars unlawfully" through the buying and selling of crypto asset securities. The SEC alleges that Coinbase intertwines the traditional services of an exchange, broker, and clearing agency without having registered any of those functions with the Commission as required by law. As alleged in the SEC’s complaint, Coinbase’s failure to register has deprived investors of significant protections, including inspection by the SEC, recordkeeping requirements, and safeguards against conflicts of interest, among others. The regulator also slammed Coinbase for failing to register its staking-as-a-service program as required by the securities laws. "You simply can’t ignore the rules because you don’t like them or because you’d prefer different ones: the consequences for the investing public are far too great,” says Gurbir S. Grewal, director of the SEC’s Division of Enforcement. "As alleged in our complaint, Coinbase was fully aware of the applicability of the federal securities laws to its business activities, but deliberately refused to follow them. While Coinbase’s calculated decisions may have allowed it to earn billions, it’s done so at the expense of investors by depriving them of the protections to which they are entitled. Today’s action seeks to hold Coinbase accountable for its choices.”

The US Securities and Exchange Commission threw a one-two punch to cryptocurrency exchanges this week, charging yet another exchange, Coinbase, Inc., on Tuesday.

A former Coinbase manager and his brother have agreed to settle insider trading charges brought by a US regulator.

The U.S. Securities and Exchange Commission (SEC) has issued its largest-ever whistleblower award totaling $279 million.

The U.S. Securities and Exchange Commission sued Terraform Labs and its CEO Do Kwon for a multi-billion dollar fraud involving the algorithmic stablecoin TerraUSD (UST) and said Kwon transferred more than 10,000 bitcoin from the Terra ecosystem to a wallet that wasn’t on a digital exchange when UST started crashing last May.

The SEC maintains that Nexo offered an unregistered Earn Interest Product (EIP) to US investors in June 2020, costing $22.5 million in penalties, and then an additional $22.5 million in fines to regulators. As a result of the charges, Nexo has ceased offering the EIP and will go further to stop offering its services in the US.