Brokers' Tactics to Conceal Celebrity Divorces
Brokers use off-market listings, pseudonyms, fake showings, and NDAs to keep high-profile clients' divorces private amid public scrutiny and media sleuthing.
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SEC Charges Binance and Coinbase, Scaramucci Weighs in on Future of Digital Assets, and Polygon (MATIC) Sees Movement.
The Securities and Exchange Commission (SEC) has charged Coinbase for operating as an unregistered national securities exchange, broker, and clearing agency, as well as for failing to register the offer and sale of its crypto asset staking-as-a-service program. The SEC alleges that Coinbase has made billions of dollars unlawfully facilitating the buying and selling of crypto asset securities since at least 2019. Coinbase's failure to register has deprived investors of significant protections, including inspection by the SEC, recordkeeping requirements, and safeguards against conflicts of interest, among others.
SEC Charges Bittrex and Former CEO for Unregistered Securities Exchange
The SEC has charged Bittrex and its former CEO for operating an unregistered national securities exchange, broker, and clearing agency. Bittrex Global GmbH was also charged for failing to register as a national securities exchange. The complaint alleges that Bittrex coordinated with issuers to delete problematic statements that would lead regulators to investigate the crypto asset as the offering of a security. Bittrex earned at least $1.3 billion in revenues from transaction fees from investors, including U.S. investors, while servicing them as a broker, exchange, and clearing agency without registering any of these activities with the Commission.
Beaxy Crypto Exchange and Executives Face SEC Charges and Shutdown
The SEC has charged Beaxy.com and its executives for operating an unregistered exchange, broker, and clearing agency. The founder of the platform, Artak Hamazaspyan, and a company he controlled, Beaxy Digital, Ltd., were also charged with raising $8 million in an unregistered offering of the Beaxy token (BXY) and alleged misappropriation of at least $900,000 for personal use. Market makers operating on the Beaxy Platform were also charged as unregistered dealers. The SEC has ordered the defendants to cease all activities as an unregistered exchange, clearing agency, broker, and dealer, shut down the Beaxy Platform, and pay civil penalties.