Pavel Durov, the founder and CEO of social networking platform Telegram, had just arrived in his private jet at a small airport outside Paris on Saturday when he was arrested by French officials and taken into custody. Durov’s detention reverberated across the world and led X owner Elon Musk and others to demand a response
MCLEAN, Va., Aug. 27, 2024 /PRNewswire/ — On August 21, 2024, Primis Financial Corp. (NASDAQ: FRST) (“Primis” or the “Company”) received an expected delinquency notification letter (the “Letter”) from Nasdaq’s Listing Qualifications Department which indicated that the Company was not in compliance with Nasdaq Listing Rule 5250(c)(1) (the “Listing Rule”) as a result of the
When PayPal joined the stablecoin wars in August 2023 with its dollar-backed PYUSD, the crypto industry celebrated the entrance of a TradFi company into a competitive arena dominated by crypto-native firms Tether and Circle. But a year after its launch, PYUSD is still lagging behind its competitors with a market capitalization of less than $1
Ken Leech, the longtime Western Asset Management chief investment officer, left that role amid probes from the Justice Department and Securities and Exchange Commission into whether some clients were favored over others in allocating gains and losses from derivatives trades. Leech, who manages some of the largest bond strategies in the US, will take an
The Securities and Exchange Commission (SEC) charged NovaTech Ltd, its operators, Cynthia and Eddy Petion, and the company’s top promoters with running a fraudulent scheme centered on crypto assets. The defendants are charged with running a multi-level marketing company that claimed it would invest victims’ funds in crypto assets but did so with only a fraction of
The U.S. Securities and Exchange Commission (SEC) is suing a crypto startup, NovaTech, for allegedly fraudulently raising more than $650 million from over 200,000 investors, many in the Haitian-American community. The SEC frames NovaTech, founded in 2019 by husband-and-wife duo Cynthia and Eddy Petion, as a multi-level marketing (MLM) scheme — one that lured investors
One of the longest running legal cases impacting crypto’s regulatory future is potentially nearing resolution. The case, between cryptocurrency company Ripple Labs and the U.S. Securities and Exchange Commission (SEC), centers around whether Ripple’s XRP token is a security and has gone through several iterations since its 2020 start. On Wednesday (Aug. 7), the scales of justice fell
On Wednesday, Judge Analisa Torres brought the first chapter of a major Securities and Exchange Commission crypto case to a close, imposing a $125 million penalty on the digital assets firm Ripple and forbidding the company from violating securities law in the future. The penalty fell fall short of the $2 billion the SEC had
Exchange-traded funds that hold ether (ETH-USD) can start trading following final approval from regulators on Monday, according to the money managers that will oversee the new ETFs. The Securities and Exchange Commission gave the green light Monday to BlackRock (BLK), Fidelity, Franklin Templeton, Grayscale, and 21 Shares, the companies said. Trading could begin as early
Listen to this article OKLAHOMA CITY — Oklahoma Attorney General Drummond is pushing back against federal regulation on cryptocurrencies. Drummond announced Thursday he has joined an Iowa-led amicus brief with Arkansas, Indiana, Kansas, Montana and Nebraska challenging the Securities and Exchange Commission’s regulation of cryptocurrencies. According to the brief, the states oppose the SEC’s regulation