News 

SEC secures lifting of stay in action against co-conspirator of Ponzi scammer Renwick Haddow

“In return for their role in selling the fraudulent investments, the defendants received commissions that totaled at least $1.4 million from the entities offering the investments” reports financefeeds.com. The defendants arranged for the sales agent network to sell the investments by using the offering entities’ false and misleading offering materials.The network of sales agents recruited by Moore and Voicetech raised over $5 million from at least 100 investors for the fraudulent investments. Source: financefeeds.com

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Markets News 

Capital markets are too slow to react to climate risk, prompting Ceres to push Fed, SEC, mega investors harder

“Read: Companies are too slow with shift to carbon neutral, say investors with $35 trillion at stake” writes Rachel Koning Beals for marketwatch.com. Capital markets aren’t moving fast enough to combat climate change, so environmental-investing heavyweight Ceres will spend multimillions to push the Securities and Exchange Commission, the Federal Reserve and other regulators to mitigate systemic financial risk from a warming Earth.In addition to the seed funding, which was not disclosed, Ceres is looking to secure another $5 million to grow the initiative.Ceres will target financial regulators and other quasi-regulatory…

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News 

Kik Messaging App Now Has New Owner, Will Continue Work on Kin Token

“The SEC claims that Kik violated securities law when it raised almost $100 million in its Kin token offering in late 2017” writes Joeri Cant for cointelegraph.com. MediaLab said that the company is committed to Kik for the long term and believes that “Kik’s best days remain ahead of it.” While not providing many details regarding work on Kik’s native Kin (KIN) token, MediaLab stated that it sees long-term potential in the token project, and will continue work on Kin with Kik founder and CEO Ted Livingston.MediaLab, a Santa Monica-based…

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Crypto News Platforms 

MediaLab, a holding company that owns the Whisper app, buys Kik messenger from Kik Interactive, which now focuses on development of Kin cryptocurrency

“The Kik messaging platform has been bought by MediaLab, a holding company which operates Whisper and a number of other apps, the company announced Friday” reports coindesk.com. In Friday’s blog post, MediaLab said the messaging app would continue to enable kin transactions, writing: “We are fans of Kin and believe in its long term potential.Livingston vowed to fight the SEC, but announced in late September that Kik would be shutting down the messaging app portion of its business.Kik Interactive, the company behind the messaging platform, previously announced that it would…

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Crypto News 

Analysts: Bitwise ETF Rejection Could Spell Doom for the Industry

“The Bitwise proposal for a bitcoin exchange-traded fund (ETF) was recently knocked to the side by the Securities and Exchange Commission (SEC)” writes Nick Marinoff for livebitcoinnews.com. This was bad news all by itself, but many analysts are seeing the rejection as a sign of how the industry will wind up.Chris Hempstead of Deutsche Bank says that if companies want to see a bitcoin ETF get approved, they need to do all they can to enhance “safe practices” in the trading space.They expect that a bitcoin ETF will have a…

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Crypto News 

Block.One Slapped With $24M Fine — Cost of Doing Business?

“Will the SEC become more proactive about enforcing security regulations toward crypto companies conducting initial coin or exchange offerings?” writes Nikolai Kuznetsov for cointelegraph.com. However, the fine also falls short in providing a real disincentive to both Block.One and the blockchain industry at large.Duane Pozza, a partner at Wiley Rein LLP, noted in a conversation with Cointelegraph that crypto companies should not fall into this trap: Stumbling into the same set of forgiving circumstances is no guarantee. Source: cointelegraph.com

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News 

SEC seeks lifting of stay in action against co-conspirator of Ponzi scammer Renwick Haddow

“In return for their role in selling the fraudulent investments, the defendants received commissions that totaled at least $1.4 million from the entities offering the investments” reports financefeeds.com. The defendants arranged for the sales agent network to sell the investments by using the offering entities’ false and misleading offering materials.The network of sales agents recruited by Moore and Voicetech raised over $5 million from at least 100 investors for the fraudulent investments. Source: financefeeds.com

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Crypto Markets News 

Crypto Rating Council Is Out to Help Change US Regulatory Landscape

“Keefe highlighted: To assess the impact of the CRC on the crypto market, Cointelegraph reached out to Sukhi Jutla, an IBM blockchain developer and author of three books” writes Shiraz Jagati for cointelegraph.com. She added that owing to the council’s use of a unified evaluation framework, crypto firms of all financial statures will be treated equally by the council.This is being done in order to expand the CRC’s market presence as well as provide the independent crypto body with an air of mainstream legitimacy.Maeszalek told Cointelegraph that in its attempt…

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Crypto Futures News 

Investment Firm Files Prospectus for New BTC Futures Fund With US SEC

“Investment management company Stone Ridge is trying to register a new Bitcoin (BTC) futures offering with the United States Securities and Exchange Commission (SEC)” writes Ana Alexandre for cointelegraph.com. In late September, Bakkt’s much-anticipated, physically settled Bitcoin futures trading went live for trading on the Intercontinental Exchange (ICE).Meanwhile, the Chicago Mercantile Exchange Group is adding options to its Bitcoin futures contracts in the first quarter of 2020, pending regulatory review.Detailing its investment strategy, the company noted that the fund will only invest in cash-settled BTC futures traded on commodity exchanges…

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News 

SEC charges Northbrook hedge fund execs with fraud

“Two executives at a Northbrook hedge fund have been charged with fraud after allegedly cheating clients out of over a million dollars” writes David Roeder for suntimes.com. The pair used that model to misstate the fund’s historical performance and overcharged investors about $1.4 million in fees, the SEC said.After the SEC took notice of the valuation issues, Barnett, the fund’s Chief Executive Officer, and Aven, the Chief Operating and Compliance Officer, attempted to cover up their dealings by slashing their flagship fund and crediting investors for the overcharged fees without…

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