$WIF is showing significant BULLISH MOMENTUM. It is currently taking support and may Rise to $4 soon.
IM ALL IN ON IT!
#profit #cryptotrading

Big Breaking: SEC’s Gensler Threatens Elon Musk with Charges Unless He Settles in 48 Hours

SEC Chair Gary Gensler has issued a settlement demand to Elon Musk, warning him of potential charges unless payment is made within 48 hours.

The Securities and Exchange Commission is reportedly preparing multiple charges, but the letter remains vague about the specifics, such as the exact nature of the charges and how many of Musk’s companies are involved.

The SEC is investigating his brain-computer interface company Neuralink and the latest letter stated that the SEC had “reopened” its probe into Neuralink this week. It also revealed that Musk’s attorney, Alex Spiro, was subpoenaed by the SEC, with threats of a process server if he didn’t comply.

Amid the chaos, Musk took to his X handle and wrote, “The SEC is just another weaponized institution doing political dirty work.”

For the unversed, the SEC has been investigating Elon Musk for delaying the disclosure of his 9.2% stake in Twitter. He only revealed his stake on April 4, 2022, about ten days after surpassing the 5% disclosure threshold required by law.

According to the Hart-Scott-Rodino Act, anyone who acquires at least 5% of a public company must disclose it within ten days.

In May 2024, Musk agreed to testify in the SEC’s investigation but failed to comply with their deposition request, leading the SEC to seek sanctions in a San Francisco court.

Experts React To Gensler’s Latest Action

Pro-XRP lawyer John Deaton reacted to the news, saying this is how the SEC treats the richest man in the world. He pointed out that small businesses and entrepreneurs, without the resources Elon Musk has, are likely treated even worse.

Deaton brought to attention how the SEC’s actions in the LBRY case show their aggressive tactics, threatening to bankrupt Jeremy Kauffman and LBRY before even filing a lawsuit.

He also said that Ripple and CEO Brad Garlinghouse spent over $150 million defending themselves in a case that didn’t involve fraud, but a failure to register and explained how most companies don’t have the resources to fight back like that.

#ElonMusk #SEC #cryptotrading #cryptomarket #cryptonews

The U.S. Department of Justice in Washington and Manhattan were investigating possible lax monitoring at Signature Bank to prevent money laundering, Bloomberg reported Wednesday, citing people familiar with the matter.

The U.S. Securities and Exchange Commission was also looking at the bank, the people said.

New York-based Signature Bank, which has a number of crypto clients, was shut down on March 12 by state regulators, the Federal Reserve announced at the time.

READ MORE: Crypto-Friendly Signature Bank Shut Down by State Regulators

The DOJ was watching new accounts and looking for signs of criminal activity in transactions, the people told Bloomberg.

Spokespeople for the Federal Deposit Insurance Corp. (FDIC), DOJ, the U.S. Attorney's Office in Manhattan and the SEC declined to comment to Bloomberg.

#nftcommunity #BNB #cryptotrading #Binance

Ether and altcoins gained as bitcoin was treading water a day out from the Fed's latest interest rate decision.

There's been a rotation in gains over the past day, with ether higher by about 2% and bitcoin relatively flat around $28,000. Ether was trading at $1,810 by 11 a.m. EDT, up 4% according to TradingView data. Bitcoin slipped about 0.1% in the same period to trade at $28,070.

ETHUSD chart by TradingView

Some altcoins popped after a sluggish start to the week. Ripple's XRP jumped over 11%, Cardano's ADA was up 2%.

This week is all about Federal Reserve Chair Jay Powell, according to market maker B2C2's Adam Farthing. SoFi's head of investment strategy, Liz Young, told the On The Tape podcast on Monday that this is the central bank's most important decision yet.

"Two weeks ago, the market was evenly split between 25- to 50-basis points, and is now pricing in zero basis points and later rate cuts, despite inflation re-accelerating and the job market staying tight," Farthing said, adding that whatever the Fed decides, "crypto could do its own thing entirely."

"We have seen plenty taking profit at current levels, which makes sense as the $28,500-$28,800 is a historically important area: where the market stopped dropping in mid-2021," he said. A lot of those long traders have "simply recycled profits into call options, so it does feel that the market is short gamma to the topside. Either way, it's going to be a big week - strap in!"

© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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