Month: May 2022

What to Know as Crypto and Stablecoin Prices Plummet

By Christopher D. Warren / May 16, 2022
Posted in

Over the last few weeks, stablecoins Terra USD and its sister currency, Luna, have dropped by over 80 percent, leaving investors worried and panicked, especially after crypto surged during the pandemic. Terra USD is an algorithmically designed stablecoin, which means that it coordinates with the US dollar. The USD is experiencing relatively high inflationary pressure…

Read More

SEC Charges Company and its Founders for Cryptomining and Trading Scheme

By Christopher D. Warren / May 13, 2022
Posted in

The Securities and Exchange Commission (SEC) has recently announced fraud charges against MCC International Corp. and its founders in connection with the unregistered offerings and fraudulent sales of investment plans to thousands of investors.  The defendants allegedly generated $8.1 million from the sale of these investment plans and $3.2 million in initiation fees. The SEC…

Read More

FINRA Fines Companies for Crowdfunding Violations

By Christopher D. Warren / May 10, 2022
Posted in

FINRA has recently fined two registered funding portals, Wefunder and StartEngine, a combined $1.75 million for failing to comply with securities laws and regulations designed to protect crowdfunding investors.  Wefunder raised approximately $20 million more than they were permitted under FINRA’s current crowdfunding regulations. They also failed to promptly direct the transmission of funds to…

Read More

US Treasury Issues Sanctions on a Virtual Currency Mixer

By Christopher D. Warren / May 9, 2022
Posted in

The US Department of Treasury’s Office of Foreign Assets Control (OFAC) has sanctioned Blender.io, a virtual currency mixer that is used in the Democratic People’s Republic of Korea (DPRK) to facilitate North Korea’s cyber activities and to engage in money laundering of stolen virtual currency.  This sanction was initiated after Lazarus Group, a DPRK cyber…

Read More

CIA Launches SPAC as the SEC Enforces Stricter Regulations

By Christopher D. Warren / May 6, 2022
Posted in

The CIA’s venture capital company, In-Q-tel, has discretely launched a SPAC that aims to fuel significant returns for former CIA officers. This news is deemed important as the SEC has recently been cracking down on SPACs and initiating stricter regulations surrounding them.  This SPAC, titled Chain Bridge 1, is seeking to acquire a defense contractor…

Read More

SEC To Expand Crypto Assets and Cyber Unit

By Christopher D. Warren / May 4, 2022
Posted in

As the crypto financial market evolves and develops, the Securities and Exchange Commission (SEC) is trying to catch up. Yesterday, the SEC announced 20 new positions designated to protect crypto investors from cyber-related threats and is expected to expand to more than 50 as the cryptocurrency market outperforms broad equity indices. As the SEC amps…

Read More