In a statement the SEC said it has sued the founder of a now-defunct cryptocurrency exchange platform BitConnect over the alleged role of the founder’s role in fraudulently raising nearly $2 billion from thousands of retail investors. The SEC expanded its civil lawsuit against BitConnect founder Satish Kumbhani, which it had announced in May, with…
Share of Robinhood Markets Inc fell by nearly 7% on Monday following a news that PayPal Holdings Inc may start an online brokerage service. Reports have also emerged saying, regulators were looking at imposing a potential ban on a practice that accounts for the bulk of the company’s revenue. Shares of Robinhood extended an early…
According to two sources familiar with an SEC investigation, the regulator has opened an investigation into last year’s SolarWinds cyber attack; the probe is focusing on whether failed to disclose that they had been affected by the hack. Last week, the SEC sent investigative letters to a number of public issuers and investment firms requesting voluntary…
In a regulatory filing on Monday, video game platform Roblox Corp stated, it has revived its plans to go public and expects its shares to start trading on the New York Stock Exchange on March 10. Earlier the company had postponed its plans to go public through a direct listing following a U.S. Securities and…
According to a top official from the Securities and Exchange Commission (SEC), a clear cryptocurrency regulatory regime is urgently required with major companies, including Mastercard Inc, Tesla Inc, and BNY Mellon Corp embrace the digital asset class. During an interview, Hester Peirce, a Republican commissioner at the SEC said, while it may be too soon…
In a statement U.S. gaming platform Roblox Corporation said, it has confidentially filed for a IPO with the Securities and Exchange Commission. The development could potentially see the company doubling its recent valuation of $4 billion. Roblox did not respond to requests for comments on whether it has selected the traditional route for its IPO…
The U.S. Securities and Exchange Commission has charged the chief executive of Shopin with defrauding investors to the tune of $42.5 million through initial coin offering, by lying to investors that the startup had close ties to major retailers and a Silicon Valley entrepreneur. Eran Eyal, 44, a dual citizen of South Africa and Israel…
HP’s expects to cut 7,000 to 9,000 jobs through a combination of employee exits and voluntary early retirement and save around $1 billion by fiscal year 2022. U.S. personal computer maker HP Inc stated, it will cut up to 16% of its workforce as part of a restructuring measure aimed at pruning costs. In a…
ICO Rating has neither admitted nor denied the SEC’s charge that it had included paid-for ICO reviews between December 2017 and July 2018. In a significant development, the U.S. Securities and Exchange Commission (SEC) stated, it has levied “a fine and has settled charges against a Russia-based ratings firm for failure to disclose payments it…
While the settlement resolves a major regulatory overhead for Facebook, the embattled social media giant still faces potential antitrust probes from the FTC and Justice Department. On Wednesday, in a significant development, the Federal Trade Commission stated, Facebook Inc has agreed to pay $5 billion as part of a sweeping settlement to create a board…
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