Justin Sun directed wash trading scheme from his US apartment, SEC claims
https://protos.com/justin-sun-directed-wash-trading-scheme-from-his-us-apartment-sec-claims/
> Tron founder Justin Sun “promoted TRX and/or BTT to consumers and investors located in the United States” during lengthy business trips to the country according to a reworked lawsuit from the Securities and Exchange Commission (SEC). Sun had previously asked for the suit, which alleges that he, along with the Tron Foundation, the BitTorrent Foundation, and Rainberry Inc sold unregistered securities in the form of Tron (TRX) and BitTorrent (BTT) tokens to be dropped. Sun claimed that the SEC “is not a worldwide regulator” and that it was “targeting “predominantly foreign conduct.” However, in updated documents, the SEC asserts that it does indeed hold jurisdiction over the defendants because they “purposefully took actions in and directed toward the United States.”
A decade without an audit, Tether says it’s a new business
https://protos.com/a-decade-without-an-audit-tether-says-its-a-new-business/
> After nearly a decade of promising financial and security audits for users and critics to look over, Tether has once again failed to put its money where its mouth is, instead choosing to announce a complete change of its business model. The rebrand is in line with many of the statements the company has been making over the past several years, around plans to get into the bitcoin mining business, the data industry, and blockchain education. The news comes on the back of new reporting from the Wall Street Journal that Tether has been extremely useful for Russia in its bid to acquire weapons to defeat Ukraine and numerous damning statements from Janet Yellen regarding stablecoins. Since US regulators and politicians started to pay closer attention to stablecoins, Tether has taken to calling itself ‘the largest company in the digital asset industry’ instead of the ‘largest stablecoin,’ and is clearly trying to put a positive spin on the work that it does.
