FTX: Kids Round-tripping in Crypto-land

Tweet Another crypto company bit the dust early this week, and with it, up to US$10 billion in customer money evaporated. BlockFi was a digital currency exchange, deposit-taking institution, and lender. BlockFi also issued and sold securities. It was not government-registered to provide any of those financial services in Canada. In early 2022, it settled […]

Voyager Digital: Asking Questions about Canadian Capital Markets

Tweet Part 1 – Attempts to legislate securities Fraud in Canada Voyager Digital “Asking Questions About Canadian Capital Markets” is a series of articles about the capital markets in which we explore some Canadian public companies and ask questions. These questions may shed light on the now-defunct Canadian digital currency exchange called Voyager Digital.  One […]

SEC files complaint against BitConnect promoters in the US

Tweet The Securities and Exchange Commission (“SEC“) filed a civil complaint against 5 American promoters of the Blockchain protocol known as BitConnect this week. Investors from around the world lost over US$2 billion with BitConnect. The SEC alleges that the defendants conducted an unregistered offering and sale of securities in connection with its native coin […]

“There is no point to a lawsuit if it merely applies the law to lies” – SEC wins extreme remedy against digital currency exchange founder whose credibility is shot

Tweet The founder of a digital currency exchange lied so much to the Securities and Exchange Commission (“SEC“) during its investigation and to a California Court, and made himself so not credible, that a Court has recommended one of the harshest remedies available – to deprive the defendant of the constitutional right to be heard […]

Money laundering and securities fraud indictment unsealed against key promoter of OneCoin

Tweet After two years, the Attorney General for the Southern District of New York has unsealed the indictment against Karl Sebastian Greenwood, a promoter of the Bulgarian initial coin offering, and supposed digital currency called OneCoin. Greenwood was allegedly extradited to the US from Thailand in 2018. Indictment unsealed In the indictment, Greenwood is charged, […]

SEC files complaint against digital currency business co-founders, alleging they lied during investigation, provided fake business records and launched illegal ICO

Tweet The Securities and Exchange Commission (“SEC“) has filed a complaint against an initial coin offering (“ICO“) and digital currency exchange platform called Dropil Inc. and three of its co-founders, Jeremy McAlpine, Zachary Matar and Patrick O’Hara, alleging that they took funds from the public on the basis of numerous untrue statements made on social […]

SEC files injunction against digital currency executives who allegedly obtained investments on the basis of false representations

Tweet The US Securities and Exchange Commission (the “SEC“) filed a complaint in Texas on March 16, 2020, against Robert Dunlap, Nicole Bowdler, the girlfriend of Dunlap, and a former Washington State Senator, David Schmidt, in connection with a digital currency they launched called Meta 1 coin (the “MetaCoin“) which raised US$4 million from the […]

American ICO lawyer and director of Vancouver Blockchain company, hit with more extortion charges

Tweet Grand jury indictment for Canadian director Steven Nerayoff, a US lawyer who advised a number of digital currency companies and initial coin offerings (“ICOs“) was indicted by a Grand Jury on January 10, 2020, in New York. Nerayoff is, or was, the Chairman of a British Columbia public company called Global Blockchain Technologies Corp. […]