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The Securities and Exchange Commission (SEC) is facing intense scrutiny from congressional lawmakers over allegations of politically motivated hiring practices. In a September 11 letter directed to SEC Chairman Gary Gensler, prominent Republican committee leaders voiced their concerns that the integrity of the SEC is compromised by hiring decisions influenced by political affiliations. This potential
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In recent years, the digital landscape has witnessed a tremendous evolution through the advent of Web3 technologies, which promise to shift the focus from centralized control to decentralized empowerment. At the forefront of this transformation is GhostDrive, a pioneering player in the decentralized storage sector. Although relatively new, GhostDrive has managed to garner over 740,000
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The financial landscape in Europe is witnessing a significant shift as leading Swiss bank Zurich Cantonal Bank has recently introduced cryptocurrency trading services for its customers. This move signals a growing acceptance and adoption of digital assets within the traditional banking sector. On September 4, 2024, Zurich Cantonal Bank announced the launch of Bitcoin (BTC)
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The Digital Chamber (TDC) has urged Congress to pass legislation that would designate certain non-fungible tokens (NFTs) as consumer goods and exempt them from federal securities laws. This call for action comes in response to the Securities and Exchange Commission’s (SEC) recent enforcement actions, including a Wells notice issued to NFT marketplace OpenSea. TDC argues
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SEC Commissioner Hester Peirce has recently expressed her ongoing concerns regarding the SEC’s Staff Accounting Bulletin No. 121 (SAB 121). Her comments came after a speech by SEC Chief Accountant Paul Munter, who reiterated the Commission’s stance on SAB 121, stating that it remains unchanged. Despite the growing attention around the regulation, Munter emphasized that
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Grant Thornton, a leading global auditor, recently conducted a comprehensive review of Liminal’s infrastructure to confirm its security following the hack on WazirX’s systems. The audit found no evidence of compromise in Liminal’s frontend, backend, or user interface, providing assurance that the platform’s systems remained secure throughout the incident. This reaffirmation showcases the importance of
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The United States Federal Bureau of Investigation (FBI) has recently issued a warning to the public regarding aggressive attacks by North Korean hackers on the crypto industry and companies associated with digital asset investment products. These attacks are not your typical cyber threats; they consist primarily of sophisticated social engineering tactics that even those well-versed
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The US Securities and Exchange Commission (SEC) recently charged and settled with hedge fund Galois Capital Management LLC over a private fund that was primarily investing in cryptocurrencies. The charges were related to Galois Capital’s alleged failure to comply with client asset safeguarding requirements, particularly with regards to crypto assets that were considered securities by
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