Category: CFTC

CFTC whistleblower pipeC
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February 18, 2024

CFTC Appoints Brian Young as New Director of Whistleblower Office, Strengthening Enforcement Efforts

The U.S. Commodity Futures Trading Commission (CFTC), under the leadership of Chairman Rostin Behnam, has announced a strategic appointment to bolster its enforcement capabilities. Brian Young steps into the role of Director of the CFTC’s Whistleblower Office, bringing with him a wealth of experience from the Department of Justice (DOJ), where he significantly contributed to antitrust and white-collar crime litigation.
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SEC Whistleblower ProgramU
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February 8, 2024

U.S. Whistleblower Programs Send Clear Signal To Financial Wrongdoers!

The U.S. Attorney’s Office for the Southern District of New York (SDNY) unveiled its Whistleblower Pilot Program on January 10, 2024, a strategic effort to..
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BGC group secured CFTC approval for new exchangeB
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January 24, 2024

BGC Group’s FMX Futures Exchange Set to Reshape the U.S. Interest Rate Market

The BGC Group, a global brokerage and financial technology group, has made a interesting announcement that could significantly alter the landscape of U.S. Treasury and SOFR futures trading. Its FMX Futures Exchange has recently received the green light from the U.S. Commodity Futures Trading Commission (CFTC) to operate an exchange for these globally dominant futures contracts, a move poised to inject competition into a market historically monopolized by the CME.
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The crypto MLM pandemicF
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January 20, 2024

Former CEO of Crypto Ponzi Scheme iComTech was sentenced to 5-year prison! More Prison Sentences Expected!

Damian Williams, the U.S. Attorney for the Southern District of New York, announced the sentencing of Marco Ruiz Ochoa to five years in prison for his involvement in the crypto Ponzi scheme IcomTech. Ochoa, 35, pled guilty to one count of conspiracy to commit wire fraud. Alongside his prison sentence, Ochoa has been ordered to undergo two years of supervised release and to forfeit $914,000 in criminal proceeds.
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CFTC against Debiex broker scamC
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January 20, 2024

CFTC Charges Scam Crypto Broker Platform with Fraud and Misappropriation in an Online Romance Scam

The U.S. Commodity Futures Trading Commission (CFTC) announced a civil enforcement action against Debiex, a digital asset platform, accusing it of conducting a romance scam. The CFTC alleges that Debiex deceived about five victims, primarily targeting Asian Americans, leading to a loss of $2.3 million. The scheme involved establishing romantic or friendly relationships to build trust and then luring victims into opening and funding Debiex trading accounts.
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Binance v SEC court battleU
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December 19, 2023

U.S. Court Confirmes Binance Settlement With CFTC With $2.85 Billion Payments!

In the U.S., a federal judge has sanctioned a comprehensive settlement involving the prominent crypto exchange, Binance, and the Commodity Futures Trading Commission (CFTC). This resolution comes on the heels of a guilty plea by Binance's former CEO, Changpeng Zhao (CZ), in relation to charges concerning anti-money laundering infractions. This means that the black swan of a Binance collapse has been averted for the time being.
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US regulator CFTCU
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November 21, 2023

U.S. CFTC Announced Settlement With Binance And Its CEO With $2,85B Payments!

Following the recent developments involving Binance and its CEO Changpeng Zhao (CZ) with the U.S. Department of Justice (DOJ), the U.S. Commodity Futures Trading Commission (CFTC) has also announced a settlement with the crypto exchange. The CFTC also announced a settlement with the former Binance compliance officer Samuel Lim. These settlements remove a significant threat to the crypto market, where Binance is the market leader.
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Binance v SEC court battleB
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November 21, 2023

Breaking: Binance CEO Changpeng Zhao Allegedly Pleads Guilty And Steps Down As Part Of Settlement With DOJ!

Binance CEO Changpeng Zhao (CZ) is set to plead guilty to criminal charges of violating U.S. anti-money laundering laws. This decision is part of a settlement that could ensure the continued operation of the company. CZ is scheduled to appear in a Seattle federal court this Tuesday afternoon to enter his plea, WSJ reports. CZ will maintain his majority ownership of Binance but will step down from any executive role.
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US CFTC against Coby YoungU
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November 3, 2023

U.S. CFTC Takes Legal Action Against Illinois Trader For Forex Fraud And Misuse Of Client Funds

The U.S. CFTC has initiated legal proceedings against Illinois-based trader Coby Young and his company, Young Emerging Strategies LLC, citing multiple regulatory breaches. The federal lawsuit outlines a series of charges including fraud, mismanagement of a commodity pool, and a series of registration and disclosure violations tied to retail foreign currency transactions.
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CFTC takes enforcement action against Safeguard Metals LLC and Jeffrey IkahnU
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October 25, 2023

U.S. CFTC And State Regulators Enter Consent Order In $68 Million Fraud Targeting The Elderly

The U.S. Commodity Futures Trading Commission (CFTC) and 30 state securities regulators have declared a consent order against Safeguard Metals LLC and Jeffrey Ikahn a/k/a Jeffrey Santulan. They were found responsible for a nationwide fraudulent operation amounting to $68 million, which involved deceptively overpriced silver coin sales primarily targeting the elderly and those nearing retirement.
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CFTC filed fraud complaint against former Voyager CEO STephen EhrlichN
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October 13, 2023

Next in Line: CFTC Charges Former CEO Of Crypto Scheme Voyager With Fraud!

The U.S.Commodity Futures Trading Commission (CFTC) has filed a complaint against Stephen Ehrlich, the former CEO of the now-bankrupt entities Voyager Digital Ltd, Voyager Digital Holdings, Inc., and Voyager Digital, LLC. The complaint alleges that Ehrlich committed fraud and failed to register in relation to the Voyager digital asset platform and its operation of an unregistered commodity pool.
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Coinbase launches regulated crypto futures in the USC
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August 16, 2023

Coinbase Secures NFA Approval To Offer Bitcoin and Ether Futures In US

U.S. crypto exchange Coinbase has secured approval from the National Futures Association (NFA), a CFTC-designated self-regulatory organization, to operate a Futures Commission Merchant (FCM) and offer eligible US customers access to crypto futures. Thus, Coinbase is allowed to offer futures contracts for Bitcoin (BTC) and Ether (ETH) through its CFTC-regulated derivatives exchange.
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