Maryann Lennon – On October 3, 2022, the Securities and Exchange Commission (SEC) charged Kim Kardashian for promoting a cryptocurrency (Crypto) asset security on social media that was offered and sold by EthereumMax (EMAX) without disclosing the $250,000 payment she received in exchange for the promotion. EMAX, which launched in May 2021, is advertised as […]
Zachary J. Kosnitzky – In early November 2022, the crypto-currency exchange FTX filed for bankruptcy and its CEO, Sam Bankman-Fried, announced his resignation. The announcements marked yet another development in the popcorn-worthy corporate drama surrounding the collapse of one of the world’s largest and most stable crypto exchanges. In the weeks following FTX’s announcements, Bankman-Fried […]
John Paul Brophy – Legal disputes often end with a settlement. When the Security and Exchange Commission (the “SEC”) settles a dispute, it requires the opposing party to include a “no deny” clause in the resulting settlement agreement. The purpose of the SEC’s “no deny” clause is to prevent the settling party from being able […]
Meryl R. Jimenez—Amidst the global pandemic of 2020, the SEC filed a complaint against Ripple Labs Inc. and two of its top executives, Chris Larsen and Bradley Garlinghouse, alleging that Ripple raised $1.38 billion through the sale of 14.3 billion units of unregistered securities. The SEC’s complaint resurfaces an old legal question, this time with […]
