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Philipp Petkevitch
@petkevitch
What happened in the crypto industry last week (Aug 26 - Sep 1)?
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Philipp Petkevitch
@petkevitch
1/ On August 28, 2024, Telegram co-founder Pavel Durov appeared in court, facing charges on six counts, with bail set at €5 million ($5.5 million). He is prohibited from leaving France and must report to the police twice a week. https://x.com/Jacques_Pezet/status/1828881941745017122
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Philipp Petkevitch
@petkevitch
2/ NFT platform OpenSea received a Wells notice from the SEC. CEO Devin Finzer stated that the SEC considers NFTs on the platform to be securities, typically a precursor to a lawsuit or a last chance to dispute the allegations. https://x.com/dfinzer/status/1828791832009953706
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Philipp Petkevitch
@petkevitch
3/ Plutus Lending LLC, which operates the Abra lending protocol, reached a settlement with the SEC. The court will determine the penalty in the civil case. The charges were initially filed in July 2020 for operating without a license. https://www.sec.gov/newsroom/press-releases/2024-105 https://www.sec.gov/newsroom/press-releases/2020-153
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Philipp Petkevitch
@petkevitch
4/ The SEC charged brothers Jonathan and Tanner Adams, along with their companies GCZ Global LLC and Triten Financial Group LLC, alleging they ran a $60 million Ponzi scheme, promising high returns from crypto operations. https://www.sec.gov/newsroom/press-releases/2024-107
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Philipp Petkevitch
@petkevitch
5/ Chinese police have launched an investigation into Feixiaohao, a major crypto data and news provider often referred to as the “Chinese CoinGecko.” The reasons for the investigation remain unknown, and no official charges have been filed yet. https://mp.weixin.qq.com/s/37FLpw-PIK7c1__prjlo1Q
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Philipp Petkevitch
@petkevitch
6/ In September 2024, the US House Financial Services Committee will hold a series of hearings on cryptocurrencies, covering regulation, DeFi, and fraud schemes such as pig butchering, which have become prevalent in 2024. SEC Chair Gary Gensler and five other agency representatives will participate. https://www.coindesk.com/policy/2024/08/29/us-house-committee-plans-for-heap-of-crypto-hearings-in-september/ https://www.chainalysis.com/blog/2024-crypto-crime-mid-year-update-part-2/
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