Former SEC chief warned crypto promotors and influencers to be wary of their wrongdoings and be ready to face prosecution as SEC is coming for them.
In his tweet, Stark called out social media crypto influencers who shilled numerous sketchy crypto projects and often helped them manipulate market prices during the bull run. He warned that for any form of price manipulation — be it the price of exchange-listed securities, penny stock securities or crypto securities — the same anti-fraud rules apply, and the days of social media crypto influencers are numbered.
The former SEC chief drew attention to the brazen and arrogant way in which so many social media influencers grift their victims. Most shilling and price manipulation occurs via social media platforms like Twitter, Discord, Instagram or Reddit. Stark noted that the nature of securities fraud makes it easier to detect and prosecute, unlike other forms of fraud where the perpetrator often tries to hide behind their identity.
“Regulators and law enforcement need only turn on their computers to discover an extraordinary and resplendent evidentiary trail of compelling and vivid inculpatory evidence. Indeed, far from tying the government’s hands, social media has become the virtual rope that many crypto bros use to hang themselves.” Stark explained.in a $100 million securities fraud case and used social media platforms to manipulate exchange-traded stocks.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
SEC former chief warns influencers about persecution for crypto price manipulationFormer SEC chief warned crypto promotors and influencers to be wary of their wrongdoings and be ready to face persecution as SEC is coming for them.
Lire la suite »
Former Coinbase Employee, U.S. SEC Settle Insider Trading ChargesThe SEC settled charges with former Coinbase product manager Ishan Wahi and his brother Nikhil, the regulator announced Tuesday. The SEC accused the two of insider trading tied to token listings on crypto exchange Coinbase last year. nikhileshde reports
Lire la suite »
Former Coinbase employee agrees to cooperate in future SEC investigationsThe SEC is also investigating Ishan Wahi's former employer.
Lire la suite »
Former Wells Fargo exec settles SEC fraud charges, to pay $3 millionThe former head of Wells Fargo & Co's retail bank agreed to pay a $3 million penalty to settle U.S. Securities and Exchange Commission fraud charges for misleading investors about sales practices used to inflate a performance metric, the SEC said on Tuesday.
Lire la suite »
SEC Reaches Settlement With Former Coinbase Manager on Insider Trading Case: DetailsSEC reaches agreement in one of the crypto industry's first insider trading cases
Lire la suite »
Jimmy Garoppolo’s fails physical; he may not get a rematch with Russell WilsonThe former rival looks like he may never face our former quarterback.
Lire la suite »