Embattled electric car manufacturer Tesla racked up its third class-action suit, filed this evening in California’s Northern District Court, stemming from bizarre and potentially unfounded tweets sent last week by CEO Elon Musk.
Remember “Long Blockchain,” or rather, the company formerly known as Long Island Iced Tea Corp. that saw its stock skyrocket after it changed its name to refer to the foundational technology behind the cryptocurrency boom and made a vague pivot to “globally scalable blockchain technology solutions”? Turns out that…
The federal investigation into Facebook’s Cambridge Analytica data-sharing scandal—in which prior versions of Facebook’s advertising API allowed the shady election data firm to partner with an app to harvest data on at least 87 million users without their consent—has expanded to include a multi-agency inquiry into the…
Ever since Dr. Dre forgot about Monster and walked into the loving arms of Apple, the overpriced cable manufacturer has struggled to keep its head above water. But it’s 2018 and every failing company has one ace up its sleeve when it needs to save itself: Pivot to blockchain. Say hello to “Monster Money.”
Scammers have been dining out on the excitement around cryptocurrency and its vey large, very uninformed pool of main street investors. And no matter how many fraud charges get handed out to the people running these schemes, regular folks keep falling for sketchy initial coin offerings. So the SEC made its own.
Facebook’s latest earnings report showed the company escaped its recent round of public scrutiny mostly unscathed, but a filing made this week with the US Securities and Exchange Commission shows that Facebook is expecting to find more massive misuses of data similar to the one that sparked the Cambridge Analytica…
Altaba, the holding company formed to carry the remains of Yahoo after it sold its core business to Verizon, has agreed to pay a $35 million fine to the Securities and Exchange Commission for Yahoo’s failure to quickly inform users about several massive breaches.
Sohrab “Sam” Sharma and Robert Farkas were the operators of an initial coin offering that—according to a Securities and Exchange Commission complaint filed today in the District Court of Southern New York—fleeced investors out of more than $32 million though a business called Centra Tech. Inc. What led to Farkas’s…
Last Summer, Equifax experienced one of the most devastating data breaches in history. In an incredible stroke of luck, several executives had dumped their stock in the company prior to the news going public. They were cleared of wrongdoing, but on Wednesday, the SEC filed insider trading charges against a different…
CEO Elizabeth Holmes and former president Ramesh “Sunny” Balwani of the disgraced blood-testing startup Theranos have been charged with “massive” fraud, according to the Securities Exchange Commission, and have agreed to resolve the charges.
The heads of the Securities Exchange Commission and the Commodity Futures Trading Commission sat before a congressional committee this morning to restate their intent to regulate—but not stifle—cryptocurrency and its related offerings. During questioning, however, it became clear that foundational issues are stalling…
Following news that the Department of Justice has allegedly opened an investigation into Apple’s practice of throttling iPhones with aging batteries, the company is speaking out.
What have you done Kodak, what have you done? Earlier this month, the stalwart film company got into bed with the oh-so-tempting blockchain brigade, and its stock price dutifully shot up. With one day to go before its initial coin offering, more details have emerged about this unholy marriage, and it’s easy to believe…
There are a number of ways a cryptocurrency-based business can run afoul of regulators these days. A startup called Arisebank seemingly decided to try all of them at once.
Joint statements today from both the Securities Exchange Commission (SEC) and the Commodities Futures Trading Commission (CFTC) have effectively put a freeze on cryptocurrency futures trading. The statements come after several crypto-based exchange-traded futures (ETFs) proposals were withdrawn last week, at the…
After months of tension over what, if anything, the Securities and Exchange Commission was planning to do about cryptocurrencies and the billions of dollars people have sunk into initial coin offerings—a form of barely regulated investment vehicle in which investors trade real cash for tokens in crypto-backed…
The Securities and Exchange Commission launched a new cyber fraud unit earlier this year amid the internet’s ongoing Bitcoin boom, seemingly telegraphing its intent to crack down on a cryptocurrency market rife with hacking, fraud, and scams. The first thing on its agenda was likely always going to be initial coin…
You can pretty much set your watch to the latest tech trends by following the release of Bjork albums. Following her previous iPad app album, and various forays into VR, she’s now apparently including a little bit of cryptocurrency for anyone who buys her new album. Let’s hope the SEC doesn’t have any issues with that.
Equifax Inc. has insisted that three executives who sold off over a million dollars in shares just days after news of a massive hack of 143 million Americans’ financial data spread internally were not aware of the breach when they made the sales.
The Securities and Exchange Commission on Friday charged businessman Maksim Zaslavskiy with fraudulently running two initial coin offerings (ICOs), a form of largely unregulated investment vehicle in which companies take investors’ cash or cryptocurrency in exchange for “crypto-tokens.”
