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Stories 1 - 20 |
Bitcoin Surges, Then Falls
Thanks to a Bogus Tweet
Oct 17, 2023 8:55 AM CDT
Bitcoin Surges, Then Falls Thanks to a Bogus Tweet
Price surges 10% in minutes, then falls again, over misinformation involving the SEC
- The world maybe didn't need another example of the volatility of cryptocurrency, but it got one anyway on Monday. The price of bitcoin jumped about 10% to nearly $30,000 in a matter of minutes, all thanks to a bogus news report, reports Insider . The price then quickly shed...
Who Made Big
in $1B Fraud
Aug 2, 2023 9:19 AM CDT
Crypto Founder Who Made Big Claims Charged in $1B Fraud
SEC: Richard Heart bought $4M black diamond with proceeds from Hex, the 'highest appreciating asset' ever
- A cryptocurrency entrepreneur who paid more than $4 million for the world's largest black diamond allegedly purchased the rock with proceeds from a $1 billion crypto fraud. The SEC on Monday announced fraud charges against Hex founder Richard Heart, also known as Richard Schueler. Heart marketed the ethereum-based Hex...
SEC Goes After Coinbase,
Biggest US Crypto Exchange
Jun 6, 2023 8:12 AM CDT
SEC Goes After Coinbase, Biggest US Crypto Exchange
Move comes one day after the agency's lawsuit against an even bigger player, Binance
- The hits keep coming for the crypto industry. One day after the SEC sued Binance , the world's largest cryptocurrency exchange, the agency went after Coinbase, the biggest exchange in the US. The SEC accused Coinbase of essentially operating as a securities exchange without registering as one, reports the
Report: Bank Was at Center of
Criminal Probe Before Collapse
Mar 15, 2023 6:35 AM CDT
Report: Bank Was at Center of Criminal Probe Before Collapse
Per Bloomberg, the feds were looking into Signature Bank's dealings with crypto clients
- On Tuesday, a spokesperson for the New York State Department of Financial Services insisted that the shuttering of Signature Bank, the third US financial institution to collapse in just a matter of days, had "nothing to do with crypto," per Reuters . By Tuesday evening, however, Bloomberg suggested that...
NBA Hall of Famer,
SEC Settle Crypto Case
Feb 18, 2023 4:05 PM CST
NBA Hall of Famer, SEC Settle Crypto Case
SEC chief calls Paul Pierce case a reminder to celebrities
- NBA Hall of Famer Paul Pierce has agreed to pay about $1.4 million to settle charges that he touted EMAX tokens on social media without disclosing the payment he received for the promotion and for making false and misleading promotional statements about the same crypto asset, the Securities and...
Feds Say Software CEO
Stole Millions While
Workers Went Unpaid
Feb 16, 2023 8:09 AM CST
Feds Say Software CEO Stole Millions While Workers Went Unpaid
Slync's Chris Kirchner charged in $67M fraud
- The co-founder and former CEO of logistics software company Slync is accused of scamming investors for tens of millions of dollars to live a lavish lifestyle while employees went unpaid. Chris Kirchner, 35, is accused of misappropriating $28 million between March 2020 and August 2022, when he was ousted by...
CEO Hit With
Another Big Fine
Jan 10, 2023 9:50 AM CST
Ex-McDonald's CEO Hit With Another Big Fine
SEC finds Steve Easterbrook misled investors over his 2019 firing
- Steve Easterbrook is continuing to pay for his relationships with underlings while serving as CEO of McDonald's. Already forced to return a $105 million severance package so as to settle a lawsuit from his former employer, he's now been fined $400,000 by the Securities and Exchange Commission...
Kim Kardashian Got $250K for
Post—Then Was Fined $1.26M
Oct 3, 2022 8:30 AM CDT
Kim Kardashian Got $250K for Post—Then Was Fined $1.26M
She promoted EthereumMax but didn't disclose she was paid to do so
- "ARE YOU INTO CRYPTO??? THIS IS NOT FINANCIAL ADVICE BUT SHARING WHAT MY FRIENDS JUST TOLD ME ABOUT THE ETHEREUM MAX TOKEN." So began an Instagram post Kim Kardashian posted in June 2021, in which she pushed EthereumMax’s crypto asset. She did mark it with #ad, but...
Feds Say Crypto Firm
Was $300M Ponzi Scheme
Aug 2, 2022 6:00 PM CDT
Feds Say Crypto Firm Was $300M Ponzi Scheme
Forsage's founders among 11 charged by SEC
- Cryptocurrency firm Forsage used technology undreamt of when Charles Ponzi was ripping off investors in the 1920s but regulators say the basic idea was the same: A scam in which investors promised big returns were paid off with money from later investors. The Securities and Exchange Commission has charged 11...
Is 'Worst Case'
Jul 9, 2022 2:20 PM CDT
For Twitter, Musk's Move Is 'Worst Case'
Company might win a legal fight to save deal, but analysts say there would be drawbacks
- Twitter's stock price has dropped, its public image is damaged, and employee morale is tanking. And that was all before Elon Musk told Twitter and the SEC on Friday that he wants out of the $44 billion deal to buy the company. Twitter said it will fight Musk on...
Those Who Catch Cheating
Cheated on Their Ethics Exams
Jun 28, 2022 11:00 AM CDT
Those Who Catch Cheating Cheated on Their Ethics Exams
Ernst & Young has to pay a $100M fine to the SEC
- It's a scandal rich in irony. Auditors with the giant accounting firm Ernst & Young—the very people whose job it is to catch cheaters—themselves cheated on exams needed to keep their licenses, reports NPR . But the irony gets richer: The accountants cheated on the
Twitter's Board Unanimously
Recommends Deal With Musk
Jun 21, 2022 10:40 AM CDT
Twitter's Board Unanimously Recommends Deal With Musk
But his purchase of the platform still has a long way to go
- The pendulum on the Elon Musk-Twitter courtship has swung from no way to it's happening to it's off to maybe it's on again . A development Tuesday keeps it squarely in the "maybe" camp. Twitter's board recommended unanimously that shareholders approve the proposed $44 billion sale...
Tesla Tells Judge
the SEC Scrutiny
of Musk Is
Feb 17, 2022 5:16 PM CST
Tesla Tells Judge the SEC Scrutiny of Musk Is Harassment
Company says agency is picking on the CEO because he's critical of government
- The latest tit-for-tat involving Elon Musk, his company, and the Securities and Exchange Commission could again test the patience of the federal judge who oversaw the 2018 settlement limiting Musk's tweets. When the SEC complained the next year that new tweets from Musk had broken the rules, US District...
From Elon Musk,
a $5.7B Gift
Feb 15, 2022 8:36 AM CST
From Elon Musk, a $5.7B Gift
SEC filing indicates Musk donated 5M Tesla shares to unidentified charity or charities in November
- Elon Musk kicked off the holiday season at the end of last year with a rather large gift: about $5.7 billion in Tesla shares, donated to an unidentified charity or charities. CNN Business reports that the comped 5,044,000 shares, presented between Nov. 19 and Nov. 29, were...
SEC Filing Puts
Call Under the
Oct 29, 2021 9:41 AM CDT
SEC Filing Puts 50-Second Burr Call Under the Microscope
Agency: Senator's brother-in-law dumped stocks after conferring with Burr in early days of pandemic
- In February 2020, Sen. Richard Burr was the head of the Senate Intelligence Committee, as well as a member of the chamber's Health, Education, Labor, and Pensions panel. He also had staffers tasked with helping out with the emerging pandemic. Those ties, and the knowledge on the coronavirus he...
New Facebook Whistleblower
Supports Other's Testimony
Oct 22, 2021 3:35 PM CDT
New Facebook Whistleblower Supports Other's Testimony
Washington Post interviews former employee
- Another former Facebook employee has told the SEC that profit and growth are more important to the company than stopping misinformation and hate speech. The allegations by a former member of Facebook's Integrity team were made in a new affidavit for the Securities and Exchange Commission, which carries penalties...
SEC Complaints of Facebook
Oct 5, 2021 9:50 AM CDT
SEC Complaints of Facebook Whistleblower Revealed
In her claim, Frances Haugen cites document that says platform removes only 2% of hate speech
is sharing details of Facebook whistleblower Frances Haugen's complaints to the Securities and Exchange Commission, including her claim that the social network stoked political division by steering conservative-leaning users toward conspiracy theories. One of at least eight complaints, titled "Facebook misled investors and the public...
SEC Not Happy With 2 of
Elon Musk's Tweets: Report
Jun 2, 2021 3:24 AM CDT
SEC Not Happy With 2 of Elon Musk's Tweets: Report
'Wall Street Journal' reports on previously undisclosed correspondence
- The Securities and Exchange Commission believes Tesla CEO Elon Musk has twice violated a court order requiring the company's lawyers to approve certain tweets about Tesla before he posts them, according to documents obtained by the
Wall Street Journal
. Regulators sent letters to Tesla in 2019 and 2020 saying...
Sep 24, 2020 5:30 PM CDT
Shading Sales Figures Costs Automaker $18M
SEC takes BMW's cooperation into account
- BMW will pay an $18 million fine to settle allegations that it inflated its monthly US sales numbers for five straight years. The Securities and Exchange Commission said Thursday that the German luxury automaker kept a reserve of unreported sales that it drew on to meet monthly targets from 2015...
Shares Dive After a
Tweet About Kodak Loan
Aug 10, 2020 2:27 PM CDT
Shares Dive After a Tweet About Kodak Loan
SEC is said to be investigating the announcement of the $765M deal
- A tweet Friday hit Kodak hard Monday. "Recent allegations of wrongdoing raise serious concerns," the US International Development Finance Corp. posted . "We will not proceed any further unless these allegations are cleared." It was a reference to planned $765 million government loan that would allow Kodak...
Stories 1 - 20 |
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