The Terraform Labs CEO is now facing fraud charges in South Korea, the Securities and Exchange Commission and federal prosecutors in New York. Terraform Labs CEO Do Kwon has been charged with fraud by United States prosecutors in New York, just hours after he was reportedly arrested in Montenegro. In a court filing signed by United…
267 ViewsIn a post-FOMC meeting on March 22, the chairman of the Federal Reserve said his “only interest is that we identify what went wrong here.” United States Federal Reserve Chairman Jerome Powell has conceded that his regulator was blindsided by the sudden collapse of Silicon Valley Bank, despite it being under their watch. In a press…
253 ViewsThe current deposit insurance cap under the FDIC is $250,000, but recent banking collapses have seen calls to increase that amount. U.S. officials are reportedly studying ways to expand the current scope of deposit insurance that would guarantee all U.S. bank deposits should the current banking crisis worsen. The current deposit insurance cap under the…
260 ViewsUS President Joe Biden on Twitter said he is “firmly committed” to holding those responsible for the Silicon Valley Bank and Signature Bank collapse “fully accountable.” The President of the United States Joe Biden has vowed to hold those responsible for the failure of Silicon Valley Bank and Signature Bank while assuring Americans that their…
300 ViewsThe SEC claims the transactions involved with redistributing the funds to impacted Voyager account holders will trigger U.S. securities laws. The United States Securities Exchange Commission (SEC) won’t be allowed to fine executives involved in Voyager Digital should it end up issuing bankruptcy tokens to help repay impacted customers, bankruptcy judge Michael Wiles has said….
321 ViewsRegulators have been slow to act on cryptocurrency, according to Jonathan Reichental, and they’ve often missed the mark. Hopefully, their approach will evolve in the years ahead. The World Wide Web, as its name implies, is borderless, and so is crypto. The internet and cryptocurrency’s common ethos is wide-open communication and exchange, unimpeded by national…
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