On August 9, 2022, the U.S. Securities and Exchange Commission (“SEC”) issued a Cease and Desist Order against Bloom Protocol, LLC (“Bloom”) and agreed to a related Offer of Settlement in respect of Bloom’s unregistered...more
On July 21, 2022, the Department of Justice (DOJ) and the US Securities and Exchange Commission (SEC) each alleged insider trading violations against a former Coinbase employee, his brother, and another alleged acquaintance...more
8/5/2022
/ Coinbase ,
Corporate Counsel ,
Criminal Investigations ,
Criminal Prosecution ,
Crypto Exchanges ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Digital Assets ,
Enforcement Actions ,
Financial Services Industry ,
Insider Trading ,
Investment ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
Securities Violations ,
Wire Fraud
In what may be the first of its kind, a New York state court has authorized service via token airdrop in a case regarding allegedly stolen cryptocurrency assets. This form of alternative service is novel but could become a...more
7/11/2022
/ Blockchain ,
Crypto Exchanges ,
Cryptocurrency ,
Digital Assets ,
Digital Wallets ,
Enforcement Actions ,
Financial Crimes ,
Financial Transactions ,
Hackers ,
Money Laundering ,
Service of Process
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
6/10/2022
/ Art ,
Breach of Duty ,
Confidential Information ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Digital Assets ,
Enforcement Actions ,
Fiduciary Duty ,
Indictments ,
Insider Trading ,
Money Laundering ,
Non-Fungible Tokens (NFTs) ,
Trading Platforms ,
White Collar Crimes ,
Wire Fraud
On January 3, 2022, the Commodity Futures Trading Commission (CFTC) announced an order against and settlement with Polymarket, a blockchain-enabled prediction market that allows users to “bet” on the occurrence of certain...more