SEC Financial News

The United States Securities and Exchange Commission, or SEC, has reportedly leaked the names and email addresses of many crypto miners connected to blockchain firm Green.

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The United States Securities and Exchange Commission charged cryptocurrency lending firm Genesis Global Capital and crypto exchange Gemini with selling unregistered securities through Gemini’s “Earn” program.

The case of LBRY highlights a wave of renewed regulatory pressure that could affect both blockchain token-issuing companies and their investors.

Grayscale filed a reply brief in its appeal of the United States Securities and Exchange Commission (SEC) denial of its application to convert its $12-billion Grayscale Bitcoin Trust (GBTC) into a spot-based Bitcoin (BTC) exchange-traded fund (ETF). The brief, filed in the District of Columbia Circuit Court, addressed points made in the SEC reply brief filed in December and restated its own arguments.

The US Securities and Exchange Commission (SEC) brought charges against major crypto exchange Gemini and the troubled crypto lending and trading firm Genesis. 

The SEC’s filed complaint alleges that Gemini and Genesis’ crypto asset lending program, Gemini Earn, facilitated the offer and sale of unregistered securities to retail investors, allowing both firms to raise billions of dollars’ worth of crypto assets. The enforcement action outlines how the crypto asset-lending scheme allowed its customers to tender their crypto tokens to Genesis in exchange for an attractive interest rate. Gemini charged agent fees on these transactions (up to 4.29%). In November 2022, Genesis announced it would not allow Gemini Earn customers to withdraw their crypto assets as it lacked sufficient liquidity to meet withdrawal requests. At the time of this statement Genesis held approximately $900 million in investor assets from over 300,000 Gemini Earn investors. Genesis’ parent company Digital Currency Group (DCG) is considering selling assets to raise money to pay off the more than $3 billion it owes to creditors. Earlier this month, Gemini ended the Gemini Earn program, with retail investors still unable to withdraw their assets. Tyler Winklevoss, Gemini CEO, took to Twitter to respond to the SEC’s Thursday filing, stating: "It’s disappointing that the @SECGov chose to file an action today as @Gemini and other creditors are working hard together to recover funds. This action does nothing to further our efforts and help Earn users get their assets back. Their behavior is totally counterproductive […] It’s disappointing that the @SECGov chose to file an action today as @Gemini and other creditors are working hard together to recover funds. This action does nothing to further our efforts and help Earn users get their assets back. Their behavior is totally counterproductive.”

WASHINGTON—The Securities and Exchange Commission on 12 January sued Genesis Global Capital and Gemini Trust Company over a $900m crypto-lending program that allegedly violated investor-protection laws.

The United States Securities and Exchange Commission (SEC) on Jan. 12 charged cryptocurrency lending firm Genesis and crypto exchange Gemini with offering unregistered securities through Gemini's "Earn" program.

United States Securities and Exchange Commission (SEC) chair Gary Gensler has found a new audience for his crypto-skeptical pep talks — the United States Army.

The cryptocurrency exchange Zipmex is the focus of a new probe by the Securities and Exchange Commission (SEC) of Thailand for a breach of local rules. 

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Former FTX CEO Sam Bankman-Fried has pled not guilty to all criminal charges he’s facing, including wire fraud, securities fraud and violations of campaign finance laws. In total, the entrepreneur faces eight criminal counts, which could result in 115 years in prison should he be convicted. Meanwhile, Daniel Friedberg, the controversial lawyer who served as top compliance chief at FTX, has reportedly cooperated with prosecutors and provided them with his knowledge of SBF’s use of customer funds to finance his illegal business scheme.

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________

The SEC has objected to an attempt by the American franchise of Binance to buy up assets from the bankrupt crypto lender Voyager Digital, saying more information about the deal is needed.

A group of FTX customers has filed a limited objection to FTX’s plan to sell four independently-operated subsidiaries, arguing that they should be privy to the sales process to ensure customer interests are represented. 

Fourteen years after Bitcoin's Genesis block launched a profound disruption in financial services and other industries through the rise of blockchain technology, United States authorities are finally becoming more interested in cryptocurrencies' future and economic impact.

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The United States Securities and Exchange Commission (SEC) has filed a “limited objection” to crypto exchange Binance.US’s proposed $1 billion takeover of bankrupt crypto lender Voyager Digital, citing a lack of “necessary information.”

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