The Securities and Exchange Commission charged Sam Bankman-Fried with “orchestrating a scheme to defraud equity investors” in FTX, it said. The SEC announcement came the same day that federal prosecutors in New York said they would unseal the indictment against the FTX founder which led to his arrest in the Bahamas on Monday night. Bankman-Fried “built a house of cards on a foundation of...
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News Analysis crypto
The Best- and Worst-Case Scenarios for Coinbase
The Securities and Exchange Commission’s lawsuit against Coinbase today, alleging a wide range of securities violations, kicks off what will likely be a yearslong legal battle that holds the key to Coinbase’s future. If the SEC wins, it will be all but impossible for the crypto giant to do business in the U.S. The SEC alleges that Coinbase has been operating an unregistered...
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