SEC charges Novatech, company founders, promoters with fraud
Novatech claimed funds were stolen via a cyberattack in May 2023 and reassured customers the company was working to recover the assets.
Novatech claimed funds were stolen via a cyberattack in May 2023 and reassured customers the company was working to recover the assets.
A poll of 804 self-identified Democrats suggested a majority favored some of the core values surrounding digital assets, as well as the US leading the world on innovation.
Gambaryan has been detained in Nigeria since February 2024 and has suffered numerous chronic health conditions during that time.
Some lawyers question whether the latest court decision in the Ripple case should be regarded as a victory over the SEC.
Binance has assured its users that their funds are safe after Venezuela cut off access to the exchange and social media platform X.
By establishing a comprehensive regulatory framework, the city aims to attract global fintech talent, foster innovation and ensure the security and integrity of digital asset transactions.
Pertsev’s case is a pivotal moment for the crypto community and advocates of digital privacy.
Former United States Securities and Exchange Commission official John Reed Stark believes Morgan Stanley’s Bitcoin ETF pitch could severely burden its compliance department.
According to Foresight News, the U.S. Securities and Exchange Commission (SEC) has reached a settlement with Ideanomics over a $40 million cryptocurrency revenue fraud case. The SEC accused Ideanomics of fraudulently reporting over $40 million in cryptocurrency revenue in 2019. All parties involved have agreed to the settlement.Former Ideanomics Chairman and CEO Bruno Wu has agreed to pay over $3.3 million in disgorgement, prejudgment interest, and a $200,000 penalty. Additionally, Ideanomics has agreed to pay a $1.4 million penalty and will hire an independent compliance consultant to review and enhance its internal accounting controls.
According to Odaily, A&A Company falsely claimed to have acquired a cryptocurrency mining company in Yunnan, China, defrauding over 700 investors in Singapore of 6.7 million SGD. Wang Xinghong, the CTO from China, was involved in this Ponzi scheme and earned over 130,000 SGD in rewards. He has been sentenced to five years in prison. The case revealed that Wang's accomplice, a man named Yang Bin, played a significant role in the scheme. Yang Bin established A&A Blockchain Innovation Pte Ltd (A&A) on April 20, 2021, and served as the company's chairman and leader. From May 20, 2021, to February 15, 2022, A&A promoted a cryptocurrency mining plan to local investors. The company falsely claimed to have purchased 70% of a cryptocurrency mining company in Yunnan, which allegedly owned 300,000 mining machines. A&A assured investors that these machines could mine cryptocurrencies like Bitcoin and Ethereum, promising a daily return of 0.5% on their investments. However, the entire investment plan was a Ponzi scheme, with A&A using funds from new investors to pay 'profits' to earlier investors.