Steve Burns, the ousted founder, chairman and CEO of bankrupt EV startup Lordstown Motors, has settled with the U.S. Securities and Exchange Commission over misleading investors about demand for the company’s flagship all-electric Endurance pickup truck. Burns was ordered to pay a civil fine of $175,000 and cannot serve as an officer or director of … Read more
An effigy of Elon Musk is seen on a mobile device with the X and Twitter logos in the background in this photo illustration on 23 July, 2023 in Warsaw, Poland. Jonathan Raa | Nurphoto | Getty Images Tesla and SpaceX CEO Elon Musk has to testify in a probe by the U.S. Securities and … Read more
The U.S. Securities and Exchange Commission said on Monday that a SIM swap attack was to blame for the breach of its official account on X, formerly known as Twitter, earlier this month. On Jan. 9, an unauthorized party gained access to the @SECGov account and displayed a fake post claiming the agency had approved … Read more
Brad Garlinghouse, chief executive officer of Ripple Labs Inc., speaks during the Token2049 conference in Singapore, on Wednesday, Sept. 13, 2023. Joseph Nair | Bloomberg | Getty Images Ripple CEO Brad Garlinghouse fired off criticism at U.S. Securities and Exchange Commission Chairman Gary Gensler on Tuesday, calling the SEC chief a “political liability” amid an … Read more
St. Moritz, SWITZERLAND — U.S. Securities and Exchange Chair Gary Gensler fired warning shots to the crypto industry, casting doubt over whether digital coin ether would follow next in the footsteps of bitcoin to receive approval for an exchange-traded fund. After the bitcoin ETF approval, prices for ether — the token linked with Ethereum — … Read more
This week, the United States Securities and Exchange Commission (SEC) suffered an embarrassing—and market-moving—breach in which a hacker gained access to its X social media account and published fake information about a highly anticipated SEC announcement related to bitcoin. The agency regained control of its account and deleted the post in under an hour, but … Read more
The U.S. Securities and Exchange Commission on Wednesday approved rule changes to allow the creation of bitcoin exchange-traded funds in the U.S., a long-awaited move that will give regular investors access to the controversial and volatile cryptocurrency. The decision will likely lead to the conversion of the Grayscale Bitcoin Trust, which holds about $29 billion … Read more
In their letter, Vance and Tillis set a deadline of January 23 for the SEC to elucidate its plans to investigate what happened, among other things. In a statement, the SEC said it will “work with law enforcement and our partners across government to investigate the matter and determine appropriate next steps relating to both … Read more
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The Securities and Exchange Commission’s official social media account on X (formerly Twitter) posted a notice on Tuesday evening falsely claiming it had approved listings for Bitcoin exchange-traded funds, or ETFs, which has since been deleted. Moments later, SEC Chair Gary Gensler said in a post on his own account that the agency’s account was … Read more
Gary Gensler, chairman of the US Securities and Exchange Commission (SEC), speaks during an event at the National Press Club in Washington, DC, US.Photo: Nathan Howard/Bloomberg (Getty Images) The Securities and Exchange Commission’s primary X account was hacked on Tuesday, the social media site has confirmed. The account, which falsely tweeted about a much-anticipated Bitcoin … Read more