In the wake of the SEC’s lawsuit against Ripple, XRP tumbled from $0.50 to lows of just $0.20… with one analyst making the dire prediction that the embattled altcoin will be a “remnant of history” by the end of 2021. But if the headline-grabbing drama has affected Flare Networks, the project’s done a very good job of hiding it—with the start-up making a slew of announcements as it prepares for launch.
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Jay Clayton’s Legacy at the SEC
Will the Chairman be Remembered for Surrendering Crypto to China?
So how will Jay Clayton be remembered? As the Chairman of the Securities and Exchange Commission during all of President’s Trump’s term, Clayton has notched major successes. But his record of supporting innovation is less impressive. And right now he stands at a crossroads. Jay Clayton has a chance to be remembered as the SEC Chairman who launched the next great wave of American financial technology. Or he can forever be recalled as the man who handed America’s crypto industry over to China.
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Kik to pay $5M fine, ending two-year legal fight with SEC
Although the multimillion-dollar fine might seem like a slap on the wrist given that Kik held a $100 million ICO, legal expenses have had a toll on the company
The proposal comes three weeks after Hellerstein handed down a summary judgment finding that Kik’s $100 million ICO was an unregistered and illegal securities offering. He decided that the offering for Kin tokens had met the three-part Howey test, which assesses whether there is an investment of money in a common enterprise with profits to be derived solely from the efforts of others.
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Online gaming platform with A-list investors killed by SEC
Ashton Kutcher and Mark Cuban were among the investors in Unikrn, which is paying a $6.1 million penalty that is ‘substantially all of the company’s assets’ and disabling its tokens
The U.S. Securities and Exchange Commission’s unrelenting crackdown on unregistered initial coin offerings has claimed another victim—this time, an online gaming and gambling platform that attracted a star-studded list of investors.
