SEC alleges fintech and 'market maker' firms manipulated crypto market in tok...
Though the SEC has pursued many enforcement actions related to initial coin offerings, the regulator’s stance on airdrops’ role in alleged token schemes is unclear. The United States Securities and Exchange Commission, or SEC, has announced charges against Hydrogen Technology Corporation and its market marker Moonwalkers Trading Limited related to allegedly perpetrating a scheme to manipulate the trading volume and price of Hydro tokens.In a Sept. 28 announcement, the SEC said former Hydrogen CEO Michael Ross Kane hired Moonwalkers and its CEO Tyler Ostern “to create the false appearance....
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Many in the space have criticized regulators including the CFTC and SEC for taking a “regulation by enforcement” approach to crypto in the United States. The United States Commodity Futures Trading Commission, or CFTC, filed a complaint against Digitex LLC and its founder and CEO Adam Todd for failing to register the cryptocurrency futures exchange and manipulating the price of its DGTX token.According to a Sept. 30 court filing in the Southern District of Florida, Todd allegedly pumped up the price of DGTX tokens in an effort to inflate Digitex’s holdings. The U.S. regulator claimed the....
Two former executives of the leading investor in the world’s financial markets, Citadel Securities, Leonard Lancia and Alex Casimo have raised $50 million for their own crypto market maker. The company also plans to invest in crypto assets via web 3 projects. Ex-leaders at Citadel Security initially launched their own market maker in April 2021 […]
PRESS RELEASE. Singapore, November 23, 2020 — MCS (MyCoinStory), a fast-growing cryptocurrency derivatives exchange headquartered in Singapore, announced on November 23 that it has officially launched a market maker program. As a latecomer to the industry, MCS claimed that it has prepared unprecedented benefits, in comparison with other exchanges, for its market maker program. As an exchange that uses #Be_a_Trader as its slogan, MCS provides a higher API limits and trading fee advantages above the industry average based on the trading volume so that market makers participating in the....
The SEC alleges that Ripple executives misled investors and manipulated the XRP coin price by creating an “information vacuum.” The United States Securities and Exchange Commission has alleged that Ripple Labs executives Bradley Garlinghouse and Christian Larsen manipulated the XRP price by ramping up or slowing down their coin sales depending upon market conditions.In an amended complaint filed Feb. 18, the plaintiff — the U.S Securities and Exchange Commission —reiterated its stance that Ripple Labs, Christian Larsen and Brad Garlinghouse violated securities laws with the sale of XRP....
According to the 2016 Top Markets Report of Financial Technology produced by the U.S. International Trade Administration (ITA), Bitcoin is one of the top focuses of China’s FinTech market. The ITA is a bureau within the U.S. Department of Commerce, and this report is a market assessment tool for U.S. exporters. Why the ITA Pays Attention to China. The....