Top US regulators say crypto poses financial stability risks

Jack J. Kelly Archive

SEC Charges 2 Firms and 4 Individuals in Crypto Pump-and-Dump Scheme

The U.S. Securities and Exchange Commission (SEC) said Friday that it has filed charges against two firms and four individuals allegedly perpetrating a cryptocurrency pump-and-dump scheme. The two companies are Bermuda-based Arbitrade Ltd. and Canadian firm Cryptobontix Inc. The other defendants are their principals — Troy ...Read More

Ex-CEO of Bankrupt Crypto Lender Celsius Withdrew $10M Weeks Before Company Froze Customer Accounts

Alex Mashinsky, the embattled founder and former CEO of Celsius Network, removed $10 million from the now-bankrupt crypto lender weeks before Celsius halted customer withdrawals in June, the Financial Times reported, citing unnamed sources. Mashinsky, who resigned as CEO Sept. 27 Eastern time, withdrew the cryptocurrency in May, according ...Read More

Wall Street to Pay $1.8 Billion in Fines Over Traders’ Use of Banned Messaging Apps

Eleven of the world’s largest banks and brokerages will collectively pay $1.8 billion in fines to resolve regulatory investigations over their employees’ use of messaging applications that broke record-keeping rules, regulators said Tuesday. The firms include brokerage units of Bank of America Corp., Barclays PLC,  Citigroup, Credit ...Read More