Fun

News Feed - 2023-11-01 08:11:17

Brayden Lindrea29 minutes agoCFTC pays whistleblowers $16M this year for mostly crypto tipsTwo of the CFTC’s crypto tipsters scored $15 million alone which brought successful enforcement cases for the regulator.123 Total views3 Total sharesListen to article 0:00NewsJoin us on social networksThe United States commodities regulator has paid $16 million this year to whistleblowers who gave information leading to successful enforcement actions with a majority of the tips involving crypto.


In an Oct. 31 statement, Commodity Futures Trading Commission (CFTC) commissioner Christy Goldsmith Romero said most of the tips received this year involved crypto which she claimed was “an area that continues to have pervasive fraud and other illegality.”Very proud of these offices and their outsized results. As a former IG, I know firsthand how important whistleblowers

are. The CFTC could not fully protect customers and markets w/o them. Click to read about the highest # of tips, crypto tips & environmental fraud tips. https://t.co/C4I9tgnxRU— Commissioner Christy Goldsmith Romero (@CFTCcgr) October 31, 2023


Two whistleblowers received $15 million alone for their information which led the CFTC to successful enforcement cases in September — however, the regulator didn’t delve into the nature of those cases in its statement at the time.


Romero said whistleblowers are vital to mitigate commodities fraud and that the CFTC wouldn’t be able to “fully protect” customers and markets without them:“Whistleblowers help identify fraud and other illegality, interpret key evidence, and save considerable Commission resources and time. The faster we can stop fraud, the more we can protect customers from harm.”


Romero acknowledged the efforts of CFTC’s Office of Customer Education and Outreach which teaches people to spot, avoid and report cryptocurrency fraud.


“With the rise of crypto, more retail customers have come under the CFTC’s jurisdiction,” Romero said.


Related:CFTC issues $54M default judgment against trader in crypto fraud scheme


The CFTC has doled out almost $350 million since the program started in 2014. It’s led to over $3 billion in enforcement sanctions ordered in cases tipped off by whistleblowers.


The CFTC won a record$3.4 billion penalty payment in a Bitcoin-related fraud case in April and won its case against Digitex CEO Adam Todd in July who was ordered to pay $16 million in penalties.


In April, Romero iterated that managing the risks associated with cryptocurrency would be crucial to upholding market integrity, national security and financial stability.


She’s advocated integrating stronger identity verification measures saying it would minimize illicit finance in the cryptocurrency market.As the bear market deepens, more crypto companies will have to lay off employees to keep the lights on.

This creates a new risk: disgruntled former employees often become whistleblowers, especially if they have valuable intel that entitles them to an SEC or CFTC bounty reward.— Jake Chervinsky (@jchervinsky) December 29, 2018


Magazine:Crypto regulation: Does SEC Chair Gary Gensler have the final say?# Fraud# CFTC# US Government# Press Release# Commodities Investment# RegulationAdd reactionAdd reactionRead moreTerrorist fundraising: Is crypto really to blame?From payments to DeFi: A closer look at the evolving stablecoin ecosystemOne-third of all CFTC crypto enforcement actions took place this year — Chairman Behnam

News Feed

William Suberg13 hours agoBitcoin price gets new $25K target as SEC decision day boosts GBTCBitcoin analysis flags liquidity waiting in the wings above and below the current BTC price range, while GBTC erases more of its
DARPA release highlights difficulty in developing quantum finance solutions
Tristan Greene16 hours agoDARPA release highlights difficulty in developing quantum finance solutionsQuantum computing for finance is proving to be one of the harder problems for scientists in the field.12538 Total views
Warren Buffett Won’t Pay $25 for All Bitcoin in the World — Charlie Munger Calls BTC ‘Stupid and Evil’
Warren Buffett Won"t Pay $25 for All Bitcoin in the World — Charlie Munger Calls BTC "Stupid and Evil" Berkshire Hathaway CEO Warren Buffett says he won’t buy all the bitc
Bitcoin miner Sphere 3D refutes Gryphon’s claims of financial doubts: 'Disingenuous'
Ana Paula Pereira4 hours agoBitcoin miner Sphere 3D refutes Gryphon’s claims of financial doubts: "Disingenuous"Sphere 3D has denied reports of financial troubles by its former partner Gryphon Digital Mining, following
Crypto 101: How to Send and Receive Bitcoin Cash Via the Bitcoin.com Wallet
Crypto 101: How to Send and Receive Bitcoin Cash Via the Bitcoin.com WalletDuring the last few months in the midst of the coronavirus outbreak and faltering global economy, many ind
Derek Andersen5 hours agoEuropean regulator releases consultative paper on MiCA standards for crypto asset service providersThe European Securities and Markets Authority will release three consultations as it fulfills it
Bitcoin Price On The Verge Of 15% Breakout As Analyst Spots This Formation
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Bitcoin seen following stocks as BTC price gains 2.5% to attack $61K
William Suberg13 hours agoBitcoin seen following stocks as BTC price gains 2.5% to attack $61KBitcoin stands to gain from increasingly risk-on macro sentiment, but can it shift a stubborn BTC price range?1820 Total views
Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors
Axie Infinity Down 40% Since Last Week"s Price High, Protocol Revenue Outshines Competitors Last week, the game token leveraged within the Axie Infinity gaming u
Ripple Expects SEC Lawsuit Over XRP to Conclude Next Year, CEO Says ‘We’re Seeing Pretty Good Progress’
Ripple Expects SEC Lawsuit Over XRP to Conclude Next Year, CEO Says "We"re Seeing Pretty Good Progress" Ripple CEO Brad Garlinghouse says that he expects the lawsuit over XRP by th
Cardano Skyrockets Over 40% – Funding Rate Suggests Further Upside
Este artículo también está disponible en español. Cardano (ADA) has made a significant move, breaking above the long-standing $0.40 resistance and reaching a key supply l
Bitcoin ETFs Coming To Japan? Government Prepares To End Ban
Este artículo también está disponible en español. The sun could be set to shine brighter in Japan’s financial horizon, as regulators take another look at how Bitcoi