{"id":9177,"date":"2022-12-15T01:13:42","date_gmt":"2022-12-15T01:13:42","guid":{"rendered":"https:\/\/cryptoheretostay.com\/?p=9177"},"modified":"2022-12-15T01:13:42","modified_gmt":"2022-12-15T01:13:42","slug":"sec-takes-aim-at-influencers-for-securities-fraud-sbf-allegedly-made-political-donations-in-others-name","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=9177","title":{"rendered":"SEC takes aim at influencers for securities fraud; SBF allegedly made political donations in others&#8217; name"},"content":{"rendered":"<p> <script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n   <\/p>\n<p><em>The biggest news in the cryptoverse for Dec. 134 includes CryptoSlate\u2019s analysis suggesting that the bottom for Bitcoin may not be in yet and Congressman Tom Emmer alleging that SEC Chairman Gary Gensler knew about FTX\u2019s fraud.<\/em><\/p>\n<h2>CryptoSlate Top Stories<\/h2>\n<p>US authority alleges that SBF donated to politicians using other people\u2019s name<\/p>\n<p>An indictment filed by the Southern District of New York (SDNY) alleged that the arrested FTX founder\u00a0Sam Bankman-Fried\u00a0made political donations in the name of other persons.<\/p>\n<p>Sam Bankman-Fried (SBF) was\u00a0arrested\u00a0by the Bahamas authority on Dec. 12 and set to face trials in the U.S. for crimes including money laundering and wired fraud.<\/p>\n<p>According to the\u00a0filing by SDNY Attorney Damian William, SBF allegedly made donations to politicians using other people\u2019s names, which is a violation of\u00a0U.S. campaign finance regulations.\u00a0<\/p>\n<p>The FTX founder and his unnamed accomplices allegedly donated over $25,000 to U.S. politicians.<\/p>\n<p>Binance Proof of Reserves fall by $3.5B in 24 hours<\/p>\n<p>Over the last 24 hours, the Binance USD (BUSD) and Bitcoin (BTC) Proof of Reserves (PoR) have fallen by $3.45 billion, and $472.86 million respectively \u2014 according to Glassnode data analyzed by CryptoSlate.<\/p>\n<p>Source: (Glassnode)<\/p>\n<p>Within that same period. Binance PoR also witnessed approximately $1.86 billion in inflows of both USD Coin (USDC), and Tether (USDT). A margin decline in Ethereum (ETH) was also observed.<\/p>\n<p>Binance\u2019s PoR total USD currently sits below $40 billion, as can be observed below in the Glassnode chart below. This reveals a steep decline since the start of the year and a fall in PoR holdings of approximately $13.2 billion since Sept.<\/p>\n<p>SEC charges eight in $100M social media securities fraud<\/p>\n<p>The U.S. Securities and Exchange Commission (SEC) has charged eight individuals with a $100 million securities fraud scheme involving major social media platforms, Twitter and Discord.<\/p>\n<p>Seven of the defendants reportedly promoted themselves as successful traders on the social media platforms and encouraged their followers to buy selected stocks by posting targets and updates on their own positions. However, when share prices and\/or trading volumes increased, the defendants allegedly sold their shares without disclosing their intentions, resulting in fraudulent profits of around $100 million.<\/p>\n<p>Elizabeth Warren working on bipartisan bill to tackle crypto money laundering<\/p>\n<p>U.S. Democratic Senator Elizabeth Warren is teaming up with Republican Senator Roger Marshall to work on a bipartisan bill that will introduce new legislation to close loopholes in the financial system that allow digital assets to be used for money laundering.<\/p>\n<p>In an exclusive statement to CNN, Warren said:<\/p>\n<p>\u201cI\u2019ve been ringing the alarm bell in the Senate on the dangers of these digital asset loopholes, and I\u2019m working in a bipartisan manner to pass common-sense crypto legislation to better safeguard U.S. national security.\u201d<\/p>\n<p>The bill, called the \u2018Digital Asset Anti-Money Laundering Act\u2019, would attempt to bring the digital asset ecosystem into compliance with the existing system of anti-money laundering in the worldwide financial system.<\/p>\n<p>Congressman Tom Emmer alleges SEC Chairman Gensler was aware of FTX fraud<\/p>\n<p>U.S. Congressman\u00a0Tom Emmer\u00a0has alleged that SEC Chairman\u00a0Gary Gensler\u00a0knew that FTX was fraudulent, but still held meetings with the disgraced founder\u00a0Sam Bankman-Fried.<\/p>\n<p>Emmer\u00a0in a tweet shared a section of the SEC\u2019s filing which reads:<\/p>\n<p><strong>\u201cFrom the inception of FTX, Bankman-Fried diverted FTX customer funds to Alameda, and he continued to do so until FTX\u2019s collapse in November 2022.\u201d\u00a0<\/strong><\/p>\n<p>In scrutinizing the SEC\u2019s filing, Congressman Tom Emmer alleged\u00a0that SEC Chairman Gary Gensler was aware that FTX was fraudulent from its inception.<\/p>\n<p>\u201cGary Gensler knows that FTX was fraudulent from its inception. This is egregious considering he had more meetings with Bankman-Fried than anyone in the space.\u201d<\/p>\n<p>\u00a0<\/p>\n<h2>Research Highlight<\/h2>\n<p>Research: On-chain Bitcoin metrics show the bottom may not be in<\/p>\n<p>CryptoSlate\u2019s analysis of on-chain Glassnode metrics indicated mixed results for a Bitcoin bottoming.<\/p>\n<p>Previous research published on\u00a0Sep. 27\u00a0looked at the Percent Supply in Profit (PSP,) Market Value to Realized Value (MVRV,) and Supply in Profit and Loss (SPL) metrics, all of which indicated a bottom was forming at the time.<\/p>\n<p>In revisiting these same metrics, it was noted that the PSP and MVRV still point to a bottoming, but the SPL no longer does.<\/p>\n<p>Bitcoin outperforms Layer 1s SOL, ETH, DOT, BNB, ATOM in December<\/p>\n<p>In December, Bitcoin outperformed the native tokens of the Solana, Ethereum, Polkadot, Binance, and Cosmos ecosystems, according to data analyzed by CryptoSlate.<\/p>\n<p>Bitcoin dominance (BTC.D) has also begun trending upward this month. The chart below shows BTC.D starting December at 39.9% and moving progressively higher. The current reading is 41.5% \u2013 a seven-week high.<\/p>\n<p>Source: BTC.D on TradingView.com<\/p>\n<h2>Crypto Market<\/h2>\n<p>In the last 24 hours,\u00a0Bitcoin (BTC) increased by 1.18% to trade at $17,937.45, while\u00a0Ethereum (ETH) fell by 0.05% to trade at $1,316.68.<\/p>\n<h3>Biggest Gainers (24h)<\/h3>\n<p>DigiByte (DGB): +23.94%MobileCoin (MOB): +20.72%Toncoin (TON): +11.49%<\/p>\n<h3>Biggest Losers (24h)<\/h3>\n<p>MAGIC (MAGIC): -12.09%Siacoin (SC): -10.92%Tribe (TRIBE): -6.38%<\/p>\n<h3>Read Our Latest Market Report<\/h3>\n<h2>Get an Edge on the Crypto Market \ud83d\udc47<\/h2>\n<p>Become a member of CryptoSlate Edge and access our exclusive Discord community, more exclusive content and analysis.<\/p>\n<p>  <strong>On-chain analysis<\/strong><\/p>\n<p>  <strong>Price snapshots<\/strong><\/p>\n<p>  <strong>More context<\/strong><\/p>\n<p> Join now for $19\/month Explore all benefits<br \/>\n<br \/><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cryptoslate.com\/cryptoslate-wrapped-daily-sec-takes-aim-at-influencers-for-securities-fraud-sbf-allegedly-made-political-donations-in-others-name\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The biggest news in the cryptoverse for Dec. 134 includes CryptoSlate\u2019s analysis suggesting that the bottom for Bitcoin may not be in yet and Congressman Tom Emmer alleging that SEC Chairman Gary Gensler knew about FTX\u2019s fraud. CryptoSlate Top Stories US authority alleges that SBF donated to politicians using other people\u2019s name An indictment filed [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":9178,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[3],"tags":[],"class_list":["post-9177","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/9177","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9177"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/9177\/revisions"}],"predecessor-version":[{"id":9179,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/9177\/revisions\/9179"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/9178"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9177"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9177"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9177"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}