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‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInCrypto.com accidentally transfers $10.5m to woman
Crypto.com is one of the world’s largest cryptocurrency trading platforms. It’s now been revealed the company accidentally transferred $10.5 million to a woman in Melbourne Australia, when she was seeking a $100 refund. It then took crypto.com more than seven months to realise the error. *** When crypto.com tried to recover the money, the cash […]
Tether Responds to Disinformation in WSJ Article
The most recent article from the Wall Street Journal against Tether, is a series of unsubstantiated conclusions. In a time where false information is being weaponized to cause harm across the globe, it is our responsibility to clarify the facts for readers. The article seeks to discredit the work that Tether has put into transparent […]
The SEC Wants to Be America’s Crypto Cop – WSJ
In “The SEC Treats Crypto Like the Rest of the Capital Markets” (op-ed, Aug. 20), Securities and Exchange Commission Chairman Gary Gensler appoints the SEC as “the cop on the beat” for crypto. Mr. Gensler is pushing aside his fellow regulators and front-running President Biden’s executive order, which directed agencies to collaborate on establishing clear […]
Web3 Domain Name Service ENS DAO Loses Its Web Address Because Virgil Griffith, the Programmer Who Could Renew It, Sits in Jail
When members of the ENS DAO community go to its eth.link website, all they’ll see now is an empty page with a green domain expiration notice banner at the top. That’s because the only person with the authority to renew the domain, Virgil Griffith, is serving a 63-month prison sentence for helping North Koreans use […]
Clifford Chance hires US litigation and regulatory partner Vasu Muthyala, further strengthening Asia Pacific Litigation team
Leading international law firm Clifford Chance announced that today partner Vasu B. Muthyala joins its Litigation and Dispute Resolution practice, based in Singapore. As one of the few former US Department of Justice prosecutors and US Securities and Exchange Commission enforcement lawyers in Asia, Vasu brings extensive experience advising on a broad range of cross […]
And Now, The ESG Backlash | The D&O Diary
Readers of this blog are well aware that “ESG” (whatever that term may mean) is one of the hot topics in the financial and business sectors. Companies face scrutiny and pressure to show that they are making progress on ESG goals. The SEC has established an ESG task force and proposed climate change disclosure rules. […]
OpenSea trading tanks, down 99% since May | Fortune
Has the NFT bubble popped? What was once a red-hot market fueled by FOMO during the crypto bull market of 2021 is now just a trickle, with trading volume on the most popular NFT marketplace, OpenSea, down 99% in just under four months. On May 1, OpenSea processed a record $2.7 billion in NFT transactions, […]
Cyber Breaches Pose Risk of SEC Enforcement Actions, Derivative Suits to Public Companies | The Legal Intelligencer
Cyberattacks are on the rise and continue to pose a serious threat to public companies across every sector. In 2021, ransomware attacks increased 13%, and over a million phishing attacks were reported in the first quarter of 2022. Not only has the volume of attacks increased, but the attacks themselves also have become more sophisticated, […]
More Than Half Of All Bitcoin Trades Are Fake
Within the emerging and turbulent market for cryptocurrencies, where there are no fewer than 10,000 tokens, bitcoin, is the great granddaddy, the blue-chip, representing 40% of the $1 trillion in crypto assets outstanding. Bitcoin is crypto’s gateway drug. An estimated 46 million adult Americans already own it according to New York Digital Investment Group, and […]
Crypto Insurance Policies ‘Popping Up’ to Meet Frenetic Demand
Companies this year are scrambling to obtain cryptocurrency insurance as a hedge against catastrophic losses, paying dearly for relatively limited protection as they venture into the world of high-risk, high-reward digital assets. “We’re seeing crypto risk and coverage inquiries from all kinds of companies,” said Jackie Quintal, a director at insurance broker Marsh McLennan. “Crypto […]