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The US Securities and Exchange Commission (SEC) has concluded its investigation into Crypto.com without any charges, as announced by the company on March 27. The inquiry began after a Wells notice was issued in October, but the company later withdrew its lawsuit against the SEC for overreach. This decision aligns with a trend of dropped investigations into other crypto firms, and Crypto.com continues to operate without legal challenges while exploring new financial products in partnership with Trump Media and Technology Group.
Elon Musk's Department of Government Efficiency (DOGE) is reportedly engaging with the U.S. Securities and Exchange Commission (SEC) to gain access to its systems and data. This follows an executive order from President Trump aimed at cost-cutting measures, although Musk's actions have faced legal challenges and concerns from federal officials regarding their legality and approach.The Senate Banking Committee is expected to vote on Paul Atkins, Trump's nominee for SEC chair, who has expressed willingness to collaborate with DOGE, despite lawmakers raising questions about potential conflicts of interest in the crypto sector.
Elon Musk’s Department of Government Efficiency (DOGE) has begun onboarding staff at the US Securities and Exchange Commission (SEC) to implement spending cuts, following the nomination of Paul Atkins to lead the agency. The SEC is preparing for a reduced workforce, with about 500 employees accepting buyout offers, and plans to eliminate office leases in Los Angeles and Philadelphia. Critics, including US Representatives Maxine Waters and Brad Sherman, have expressed concerns over Musk's influence on the agency, citing his contentious history with the SEC.
The U.S. Securities and Exchange Commission (SEC) is onboarding members of Elon Musk's Department of Government Efficiency (DOGE) following a lawsuit against him for failing to disclose his Twitter shares timely. This initiative aims to enhance efficiency and address waste within federal agencies. SEC staff have been instructed to consult a liaison team before sharing information with DOGE members, emphasizing the need for compliance with ethics and security protocols.
Paul Atkins, nominated by President Trump to lead the U.S. Securities and Exchange Commission, disclosed personal assets exceeding $328 million, with potential total family assets surpassing $588.8 million. Facing Senate confirmation, concerns arise over conflicts of interest due to his extensive financial background and ties to firms involved in SEC enforcement actions. Atkins has pledged to divest from his consultancy and comply with ethics regulations during his term.
Paul Atkins, nominated by President Trump to lead the U.S. Securities and Exchange Commission, has disclosed personal assets exceeding $328 million, with potential total family assets surpassing $588.8 million. His financial background raises concerns over conflicts of interest, particularly regarding his ties to FTX and other clients facing SEC scrutiny. Atkins, who previously served as an SEC commissioner, is set for Senate confirmation hearings amid significant workforce reductions at the agency.
The current SEC chair was the sole dissenting vote against a lawsuit filed against Elon Musk for failing to disclose a significant Twitter stock purchase in a timely manner. The vote was 4-1, with three Democrats and Republican Hester Peirce supporting the action, while Mark Uyeda, who later became acting chair, raised concerns about the lawsuit's motivations and penalties. The case is ongoing, with Musk recently receiving a summons to respond.
UBS is contemplating relocating its headquarters from Switzerland due to proposed capital requirements that could demand up to $25 billion. Internal assessments suggest that the bank's core capital ratio might increase from 14% to approximately 20% under the most stringent conditions. Paul Atkins' SEC confirmation hearing is scheduled for March 27.
[Bloomberg](https://www.bloomberg.com/news/articles/2024-12-02/biggest-hedge-funds-make-the-most-of-the-trump-trade-in-november) and [SEC]
Deutsche Bank analysts declare we are in "crypto's golden era," predicting elevated prices for Bitcoin and other cryptocurrencies throughout 2025 due to favorable regulations and increased institutional adoption. Analyst Marion Laboure highlights the SEC's development of a regulatory framework and the appointment of Paul Atkins as chair as signs of a shift towards a more innovation-friendly approach. With Bitcoin currently at $105,000, Laboure anticipates a return to new highs soon, supported by potential strategic initiatives from the Trump administration.
Paul Atkins
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SEC concludes Crypto.com investigation without charges allowing continued operations
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