By Jonathan Stempel NEW YORK (Reuters) – The U.S. Securities and Exchange Commission on Monday sued the cryptocurrency company NovaTech and its married co-founders, saying they fraudulently raised over $650 million from more than 200,000 investors worldwide, including many Haitian-Americans. NovaTech and co-founders Cynthia and Eddy Petion allegedly promised investors their money would be safe,
By Manya Saini (Reuters) -Robinhood sailed past Wall Street expectations for second-quarter revenue and profit on Wednesday as more retail investors were drawn to meme stocks and cryptocurrencies. The app, typically associated with mom-and-pop investors, saw a surge in trading volumes as meme-stock influencer Keith Gill returned to social media and reignited interest in the
(Reuters) -The U.S. Securities and Exchange Commission has closed its investigation into the blockchain protocol Ethereum 2.0, cryptocurrency firm Consensys said in a post on social media platform X late on Tuesday. The firm filed a lawsuit seeking an injunction against the U.S. SEC in April over regulation of the Ethereum blockchain. Consensys founder Joseph
The US Senate just passed a bill overturning SEC guidelines that disincentivize banks and large financial institutions from holding Bitcoin and crypto assets. The legislation, which succeeded in the House last week, has now passed the Senate in a 60-38 vote and is headed to President Biden’s desk. The bill reverses an SEC accounting rule
The chief executive of Ripple Labs says that he sees the U.S. Securities and Exchange Commission (SEC) losing its battle against crypto in the long term. In a new interview on the World Class podcast, Ripple CEO Brad Garlinghouse says that in the grand scheme of things, the SEC’s anti-crypto stances and enforcement actions don’t
The crypto exchange Kraken is pushing back against claims made by the U.S. Securities and Exchange Commission (SEC). In November, the SEC charged Kraken with operating its crypto trading platform as an unregistered securities exchange, broker, dealer and clearing agency. Earlier this year, Kraken filed in US District Court to dismiss those charges, and the company
The U.S. Securities and Exchange Commission (SEC) says that Ripple Lab’s planned new stablecoin qualifies as an “unregistered crypto asset.” In a new court filing, the regulatory agency says that not only has Ripple been selling XRP – the digital asset used to operate the XRP Ledger – as an unregistered security since 2013, but