SEC sues Crypto Influncers & other crypto scams thriving without sufficent rules

[john_egbert]

I agree, more Bitcoin specific guidance and changes would be amazing, and even push the price more then it already is

Not from US so it wont affect me directly, but positive policies from them can only mean good things to expect from other countries as well, no one would wana stay behind anymore

Even if they change the price, it wouldn't be a long-term effect, imo, but it would still be a welcomed development.

[rdbase]

When I first started this thread a few years ago the original post featured Kim Kardashian being connected to a crypto scam.
Now nearly three years later, her ex-husband has been caught straight out cashing out on a crypto-project they endorsed and rugged it leaving investors in a nearly $3 billion dollar money pit.


source: https://cointelegraph.com/news/kanye-west-memecoin-pumps-3b-launch-then-falls-amid-insider-concerns

Here is one instant of what wallet followers have noticed with this latest celebrity heist rug pulling their customers:
Bubblemaps - we have found the identity of the FIRST buyer of $YZY It’s the same trader who made $100M on $TRUMP Expert sniper or insider?
https://x.com/bubblemaps/status/1958604074640695424


source: https://www.coindesk.com/markets/2025/08/21/insiders-cash-in-millions-as-ye-formerly-kanye-west-apparently-issues-yzy-token

[rohang]

When I first started this thread a few years ago the original post featured Kim Kardashian being connected to a crypto scam.
Now nearly three years later, her ex-husband has been caught straight out cashing out on a crypto-project they endorsed and rugged it leaving investors in a nearly $3 billion dollar money pit.
source: https://cointelegraph.com/news/kanye-west-memecoin-pumps-3b-launch-then-falls-amid-insider-concerns

Here is one instant of what wallet followers have noticed with this latest celebrity heist rug pulling their customers:
Bubblemaps - we have found the identity of the FIRST buyer of $YZY It’s the same trader who made $100M on $TRUMP Expert sniper or insider?
https://x.com/bubblemaps/status/1958604074640695424

source: https://www.coindesk.com/markets/2025/08/21/insiders-cash-in-millions-as-ye-formerly-kanye-west-apparently-issues-yzy-token

Crazy stuff, he holds 70% of that coin (wanted 80%) that he can sell anytime

https://cointelegraph.com/news/bitcoin-price-4-year-old-cycle-not-dead-crypto-analysts

Also heard about a guy who made $100million on both Trump coin and now on Yzy coin 

YZY opened at like 2$ and is now already below a dollar, at like 70 cents

https://decrypt.co/336179/kanye-west-launches-yzy-token-solana-frenzied-debut

[rdbase]

When I first started this thread a few years ago the original post featured Kim Kardashian being connected to a crypto scam.
Now nearly three years later, her ex-husband has been caught straight out cashing out on a crypto-project they endorsed and rugged it leaving investors in a nearly $3 billion dollar money pit.
source: https://cointelegraph.com/news/kanye-west-memecoin-pumps-3b-launch-then-falls-amid-insider-concerns
Here is one instant of what wallet followers have noticed with this latest celebrity heist rug pulling their customers:
Bubblemaps - we have found the identity of the FIRST buyer of $YZY It’s the same trader who made $100M on $TRUMP Expert sniper or insider?
https://x.com/bubblemaps/status/1958604074640695424
source: https://www.coindesk.com/markets/2025/08/21/insiders-cash-in-millions-as-ye-formerly-kanye-west-apparently-issues-yzy-token

Crazy stuff, he holds 70% of that coin (wanted 80%) that he can sell anytime
https://cointelegraph.com/news/bitcoin-price-4-year-old-cycle-not-dead-crypto-analysts
Also heard about a guy who made $100million on both Trump coin and now on Yzy coin  
YZY opened at like 2$ and is now already below a dollar, at like 70 cents
https://decrypt.co/336179/kanye-west-launches-yzy-token-solana-frenzied-debut

It seems things have turned to the worst for this person and their accomplices who were targeted with having those wallets under their control:

https://x.com/bubblemaps/status/1958680522860933541

[rdbase]

The reorganized SEC department had been investigating the former head of their division lately.
They were looking for digital messages by Gary Gensler from  October 2022 and September 2023 but found they had been lost due to unavoidable errors.
This all seemed to be very strange since they should of been stored on highly secured servers.
But they simply just went to those individuals whom that he sent those messages to and asked them for them to see them.

The following article explains the whole story behind the case of the missing text messages while Gensler was incharge of the SEC:
https://cointelegraph.com/news/avoidable-errors-led-to-the-loss-of-gary-gensler-text-messages-sec

[rohang]

Atkins is preparing an “innovation exemption” to accelerate the launch of crypto - under lighter supervision

he is working on Major projects like July's Project Crypto and ending the 'rivalry between the SEC and the CFTC'.

https://www.cointribune.com/en/the-sec-wants-to-accelerate-crypto-innovation-with-an-unprecedented-exemption/

Crypto Innovation Exemption is now expected to be ready by December , making it easier and faster for crypto and non-crypto firms to launch on-chain products in the U.S.

[rdbase]

Sort of late on this rather big news about how from August 7 there was an Executive Order 14330 signed into congress that directs the SEC and Department of Labor to update regulations allowing retirement savers to diversify from the regular stocks and bonds they are use to with bitcoin being an asset they can squeeze in as a contribution towards their portfolios.

The full article can be read here which allows other alternative assets:
https://bitcoinmagazine.com/markets/lawmakers-push-sec-to-adopt-trumps-401k-crypto-plan-is-bitcoin-retirement-coming

[rohang]

'Things are getting wild'

About two dozen new crypto-focused ETF proposals were submitted to the SEC on friday

SEC recently approved generic listing standards for spot crypto ETFs, which will eliminate lengthy procedures and quicken the launches across more cryptocurrencies.

https://www.cnbc.com/2025/09/30/crypto-etfs-sec-generic-listing-new-boom-solana-xrp.html

and with BTC reaching yet another ATH this week, things are only looking up for crypto world 

[rdbase]

US House Republicans had notified the newly appointed SEC Chair Paul Atkins they are investigating the loss of text messages from the former SEC Chair Gary Gensler from when he led the agency.
They have been looking at the integrity and transparency of when Gensler served as the one who passed or denied cryptocurrency projects to operate within the law they imposed.
His tenor was between 2021-2025 earlier this year so there a wide timeline for these investigations to cover.
source: https://cointelegraph.com/news/house-republicans-could-probe-gary-gensler-s-deleted-texts

There were definitely doubled standards at play here as the article describes where Gensler sued some projects in the millions that his own agency's standards had not abide by nor met.

[rohang]

BIG BTC holders are transferring their holdings into exchange-traded funds, with the help of BlackRock facilitating.

This is due to a recent U.S. Securities and Exchange Commission rule change permitting in-kind creations and redemptions for crypto ETFs. ETFs have opened doors to institutional participation in Bitcoin that was previously unreachable

https://coinmarketcap.com/academy/article/bitcoin-whales-move-dollar3b-into-blackrock-etf-after-sec-rule-change

[rdbase]

BIG BTC holders are transferring their holdings into exchange-traded funds, with the help of BlackRock facilitating.
This is due to a recent U.S. Securities and Exchange Commission rule change permitting in-kind creations and redemptions for crypto ETFs. ETFs have opened doors to institutional participation in Bitcoin that was previously unreachable
https://coinmarketcap.com/academy/article/bitcoin-whales-move-dollar3b-into-blackrock-etf-after-sec-rule-change

There was a Solana based ETF that was released and another one for Hedera but upon their releases neither of them gained any momentum to pump their coin's price:
https://fortune.com/crypto/2025/10/31/cryptos-second-wave-of-etfs-arrives-investors-snap-up-new-solana-offering