Crypto betting platform Polymarket was directed by the Commodity Futures Trading Commission or CFTC to pay a fine of $1.4 million on 3rd January 2022 for its failure to obtain designated contract market [DCM] or registration as a swap execution facility [SEF]. In accordance with the press release, this is mandatory to offer off-exchange event-based […]
CFTC
New York-based crypto options firms are in trouble for failing to register with the CFTC
An array of New York-based crypto options platforms were under fire after they failed to register with the Commodity Futures Trading Commission [CFTC]. The CFTC in its recent press release revealed the names and the reason behind pressing charges against the firms. Regulatory entities have been exerting their power now more than ever. The emergence […]
BlockFi replaces Christopher Giancarlo aka “Crypto Dad” from its Board
Prominent financial services company, BlockFi has replaced Christopher Giancarlo, the former Commodity Futures Trading Commission [CFTC] chair. Giancarlo, who was popularly known as “Crypto Dad,” is being succeeded by Ellen-Blair Chube who joined BlockFi’s Board of Directors. Following the development, the exec was quoted saying, “I was immediately struck by the caliber of leadership and […]
CZ Confirms Binance US Will Go Ahead With IPO Despite Increased Scrutiny
Ever since its creation, the cryptocurrency market has been the subject of routine regulatory interventions. The latest story surrounds Binance’s United States wing, Binance US, and its decision to move ahead with an IPO despite crackdowns from the financial sphere. Binance chief executive Changpeng Zhao said on Friday that the company’s move was built on […]
CFTC Commissioner is not a big fan of DeFi; calls it ‘illegal’ since it defies archaic laws
DeFi has gained significant traction this bull season. It has not only attracted a myriad of previously skeptic market players to rake in profits but has now come under the scrutiny of law enforcement agencies. In the latest development, the Commissioner of Commodity Futures Trading Commission [CFTC], Dan M. Berkovitz has called for a crackdown […]
CFTC Charges NY-based Crypto Trader ‘Coin Signals’ With $5M Fraud
The U.S. Commodity Futures Trading Commission [CFTC] filed a civil enforcement action on the 26th of January against New York-based crypto trader Jeremy Spence alleging fraud for operating a Ponzi scheme involving digital assets such as Bitcoin and Ethereum. CFTC Unveils Civil Fraud Charges CFTC’s complaint alleged that Spence fraudulently solicited more than $5 million […]
Crypto Mom Believes US Govt Intended To Send A Message To The Crypto-Verse Via BitMEX Arrests
October was rather detrimental to BitMEX’s cryptocurrency exchange. The US regulators have charged and arrested the owners of BitMEX for illegally running the exchange. Apart from this, over the course of the case, the exchange even suffered acute losses. The Commissioner of the Securities and Exchange Commission, Crypto Mom, Hester Peirce, commented on the same […]
BitMEX Switches Up Leadership Following CFTC Allegations; CTO Samuel Reed Released
Just last week, prominent cryptocurrency exchange, BitMEX made its way under the spotlight following a series of charges from the government of the United States. After publicly denying the accusations, the exchange recently released a blog post highlighting the change in leadership at the firm. Defendants Step Down From Their Respective Roles The parent company […]
Over 45,000 BTC Pulled from BitMEX after CFTC Charges
The US Commodity Futures Trading Commission [CFTC] and the acting U.S. Attorney for the Southern District of New York’s announcement charging BitMEX with facilitating unregistered trading and other illegal transactions did not make good reading. Since then, more than 45,000 BTC have been pulled from the exchange which represents over 20% of the Bitcoin deposited […]
BitMEX Incurs Acute Loss Despite Denying CFTC And DOJ Charges
Prominent cryptocurrency exchange, BitMEX recently fell under the purview of the Commodities Futures Trading Commission [CFTC] of the United States. The financial regulator reportedly charged the owners of BitMEX for illegally running the crypto derivatives platform. BitMEX Strikes Back BitMEX has been one of the notable exchanges in the crypto industry. However, the latest news […]