Trading

SEC issues no-action letter in response to digital asset securities questions

SEC files insider trading charges years after iced tea company’s 2017 blockchain ‘pivot’

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A now-infamous “pivot” from iced tea to blockchain tech that sent a publicly-traded company’s stock soaring has years later resulted in insider trading charges against three individuals. The Securities and Exchange Commission went public with its lawsuit on Friday, according to a press release, alleging that Eric Watson, Oliver-Barret Lindsay and Gannon Giguiere engaged in …

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Crypto exchange Bithumb bans employees from trading on its platform

Crypto exchange Bithumb bans employees from trading on its platform

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South Korean cryptocurrency exchange Bithumb has banned its employees from trading on its own platform. Announcing the news on Friday, Bithumb said the move is to enhance transparency over crypto transactions, but an upcoming law in Korea mandates local crypto exchanges must prohibit employees from trading on their own platforms. The law becomes effective September …

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TP ICAP to launch crypto trading platform with Fidelity and others

TP ICAP to launch crypto trading platform with Fidelity and others

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TP ICAP, the world’s biggest interdealer broker, is set to launch a crypto trading platform for institutional investors. The platform is being developed with crypto custody providers Fidelity Digital Assets and Standard Chartered’s Zodia Custody, alongside liquidity provider Flow Traders. The idea is to provide clients a separate but interoperable model for execution and settlement. …

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Legitimate volume on spot crypto exchanges fell to $125.8 billion in October

Spot trading volumes on legitimate crypto exchanges hit $1.58 trillion in April

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Data collected by The Block Research shows that spot trading volumes on legitimate exchanges hit a new all-time high for April. As noted by The Block’s Lars Hoffmann, the exchanges listed below saw a collective $1.58 trillion in spot trade volume last month. The $1.58 trillion figure represents a 49% increase compared to March’s $1.06 …

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Coinbase settles with CFTC for $6.5 million over data reporting, employee wash trading allegation

Owner of bitcoin trading scheme Control-Finance ordered to pay $572 million

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The U.S. District Court for the Southern District of New York has ordered the operator of bitcoin trading scheme Control-Finance to pay nearly $143 million in restitution and $429 million in penalties. Benjamin Reynolds allegedly failed to attend multiple court dates in a case from the Commodity Futures Trading Commission (CFTC), resulting in a default …

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Coinbase settles with CFTC for $6.5 million over data reporting, employee wash trading allegation

Coinbase settles with CFTC for $6.5 million over data reporting, employee wash trading allegation

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Coinbase has settled with the Commodity Futures Trading Commission, according to a Friday announcement, and will pay a $6.5 million penalty. The settlement focused on two areas: information about trade activity on Coinbase’s GDAX trading platform and allegations of wash trading by a Coinbase employee during a six-week period in 2016. The U.S. regulator said …

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Ripple CEO: XRP will continue trading, even if Ripple ceases to exist

Ripple CEO: XRP will continue trading, even if Ripple ceases to exist

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Ripple CEO Brad Garlinghouse has once again addressed the SEC lawsuit against his company. In a recent interview, Garlinghouse countered the allegations and said that the legal action was “misguided” and that its crypto asset has traded for eight years in the US before regulators filed the lawsuit last December.  Recently, the Commission chose to …

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