News & Analysis as of

Trading Platforms Criminal Prosecution

A&O Shearman

Last remaining counts of insider trading case to be dismissed - Robert Olan fully exonerated

A&O Shearman on

This week, the Department of Justice (DOJ) agreed to dismiss the last remaining counts of an insider trading case they charged against Robert Olan and others in 2017. After a split verdict at trial, multiple appeals, a...more

Goodwin

SEC Sues Binance and Coinbase: What Are the Allegations and What Is Next?

Goodwin on

In the span of two days, June 5 and June 6, 2023, the US Securities and Exchange Commission (SEC) commenced proceedings against the largest crypto asset exchange in the world, Binance.com; its affiliated US exchange,...more

Seward & Kissel LLP

Not So Silver Lining, Weird Science, F is for Fraud, and Alex Jones Under the Microscope

Seward & Kissel LLP on

Below is our initial take on recent bankruptcy-related developments: Silvergate reported a $1 billion loss for the fourth quarter and said it is unable to meet an extended March 16 deadline for submitting its annual...more

BakerHostetler

DOJ, CFTC and SEC Bring Separate Actions for the Same Conduct: Alleged Digital Asset Manipulation and Fraud Scheme on Mango...

BakerHostetler on

Mango Markets is a decentralized cryptocurrency exchange that allows users to purchase and borrow cryptocurrencies and cryptocurrency-related financial products. Mango Markets is run by the Mango Decentralized Autonomous...more

The Volkov Law Group

The SEC and CFTC Bring Civil Charges against FTX, Alameda, and SBF (III of IV)

The Volkov Law Group on

In conjunction with the DOJ’s criminal indictment, the SEC brought civil charges against SBF.  The SEC charged SBF with orchestrating a scheme to defraud equity investors in the FTX exchange (FTX Trading Ltd.).  The SEC...more

The Volkov Law Group

The Department of Justice Charges FTX CEO Sam Bankman-Fried in the Southern District of New York (II of IV)

The Volkov Law Group on

Following FTX’s stunning collapse, federal prosecutors have quickly taken steps to hold FTX’s founder and CEO Sam Bankman-Fried (“SBF”) accountable. On December 13, the Department of Justice (“DOJ”) announced a criminal...more

Cadwalader, Wickersham & Taft LLP

DOJ, SEC and CFTC Announce Parallel Criminal and Civil Charges Against Sam Bankman-Fried, FTX Trading and Alameda Research

On December 13, the U.S. Attorney’s Office for the Southern District of New York (the “U.S. Attorney’s Office”), the U.S. Securities and Exchange Commission (the “SEC”), and the U.S. Commodity Futures Trading Commission (the...more

Dorsey & Whitney LLP

FTX - Billions of Dollars to a Firm with No Controls

Dorsey & Whitney LLP on

Things change, at least sometimes. Take Crypto assets. They began as a way to “get off the grid.” Over time some came on to the grid as their popularity increased. Others stayed off....more

Kohrman Jackson & Krantz LLP

OpenSea Employee Arrested in First NFT Insider Trading Case

Earlier this month, the U.S. Attorney’s Office for the Southern District of New York announced the first ever indictment for insider trading of digital assets. According to the indictment, in 2021 Nathaniel Chastain was...more

Polsinelli

Former OpenSea Employee Charged with Wire Fraud and Money Laundering in First Ever “Digital Asset Insider Trading” Scheme

Polsinelli on

A former employee of OpenSea, the largest marketplace for the purchase and sale of non-fungible tokens (NFTs), has been indicted and charged with wire fraud and money laundering allegedly in connection with actions he took...more

Hogan Lovells

IRS Renews Focus on Cryptocurrency-Related Offenses

Hogan Lovells on

The Internal Revenue Service (IRS) has signaled for years that it would eventually bring enforcement actions against individuals who failed to report cryptocurrency gains. It appears that “eventually” is over and that those...more

Burr & Forman

SEC Investor Alert on Crypto Trading Websites

Burr & Forman on

The SEC recently issued an investor alert warning about crypto advisory and trading websites. The alert cautions investors to be especially wary of web-based crypto-currency sites with any...more

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