The CFTC is investigating whether Polymarket allows its customers to improperly trade swaps or binary options, Bloomberg reported.
"We are not anywhere near done until the number one coin is a stablecoin," Emin Gün Sirer, CEO of Ava Labs, told Insider.
The whistleblower's information led to monetary sanctions of at least $670 million and up to $2 billion.
The CFTC discovered Tether only held sufficient fiat reserves to back its USDT stablecoin for only 27% of the days in a sample period.
The Commodity Futures Trading Commission (CFTC) on Tuesday ordered crypto exchange Kraken to pay $1.25 million in fines.
It intensifies the scrutiny of Binance by the CFTC, which is already reportedly reviewing it for derivatives trading, and adds to IRS and DOJ probes.
Binance's high-profile hires have come in response to a rapidly mounting regulatory crackdown on the exchange.
BitMEX has neither admitted nor denied the allegations and said that it is "committed to becoming a regulated exchange."
"The SEC has no authority over pure commodities or their trading venues whether those commodities are wheat, gold, oil… or #crypto assets," CFTC's Brian Quintenz said.
DeFi insiders have complained that regulators often do not understand the industry, creating bad fixes that smother innovation.
The majority of the fines imposed by regulators, around $928 million, are related to unregistered securities offerings and fraud.
The CFTC's Dan Berkovitz said he thinks much of decentralized finance, or DeFi, is a bad idea, in a speech citing Wikipedia and his Google searches.
The administration is also analyzing potential gaps that may be used to finance illicit activities, sources told The Washington Post.
The Eliminate Barriers to Innovation Act of 2021 is headed to the US Senate after passing in the House. It would create a public-private working group for crypto.
A US commodities regulator says a UK man had been ordered to pay more than $571 million for an apparent scam that collected more than 22,000 bitcoin.
Federal regulators and prosecutors are probing the GameStop trading phenomenon, The Wall Street Journal reported. Authorities are investigating whether the army of Reddit traders partook in market manipulation. Robinhood and other brokers involved in the trend have been subpoenaed, according to the report. Sign up here for our daily newsletter, […]
JPMorgan will pay the largest CFTC monetary penalty ever and admitted wrongdoing in order to resolve a case surrounding claims of market manipulation in the trading of precious metals and Treasury securities, Bloomberg first reported. The case covers an eight-year period and relates to the practice of “spoofing,” where traders […]