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CATEGORY: sparks


Apr 03, 2025 06:00

Trumps 10% Tariff on All Countries Sparks Reciprocal Levies on Trading Partners

President Trump has officially signed an executive order on reciprocal tariffs. This move is intended to equalize trade relationships with countries that impose higher tariffs on American goods. By implementing reciprocal tariffs, the US aims to address trade imbalances and protect its industries from unfair competition. The executive order allows the US government to impose [...]

The post Trump’s 10% Tariff on All Countries Sparks Reciprocal Levies on Trading Partners appeared first on Crypto Breaking News.

Mar 22, 2025 05:50

Ethereums Record-Breaking Open Interest Sparks Speculation: Will ETH Price Soar?

The Ethereum cryptocurrency has seen a surge in open interest, reaching a new all-time high. This increase in open interest suggests a growing interest and participation in the Ethereum market. Will this spike in open interest lead to a corresponding increase in the price of ETH? The cryptocurrency market has been experiencing renewed interest and [...]

The post Ethereum’s Record-Breaking Open Interest Sparks Speculation: Will ETH Price Soar? appeared first on Crypto Breaking News.

Mar 16, 2025 05:50

Uber Angel Investor Sparks Bitcoin Debate with Call for Improving Bitcoin

Jason Calacanis, a prominent figure in the cryptocurrency community, recently sparked controversy by suggesting that Bitcoin could be improved upon. His remarks have ignited a debate within the Bitcoin community about potential enhancements to the leading cryptocurrency. Calacanis, known for his bold statements and willingness to challenge the status quo, proposed that a group of [...]

The post Uber Angel Investor Sparks Bitcoin Debate with Call for ‘Improving Bitcoin’ appeared first on Crypto Breaking News.

Mar 14, 2025 05:50

Bitcoin Price Surge to $105K Sparks Crypto Regulation Changes

The cryptocurrency market is experiencing a shift in regulation as Bitcoin aims for $105K with an increase in liquidity. The changing landscape of regulatory frameworks for digital assets is impacting the market dynamics, influencing the price movements of Bitcoin and other cryptocurrencies. As regulatory authorities around the world continue to explore and develop policies for [...]

The post Bitcoin Price Surge to $105K Sparks Crypto Regulation Changes appeared first on Crypto Breaking News.

Mar 11, 2025 05:50

CleanSparks Bitcoin Mining Operations Set to Land Them on the S&P SmallCap 600 Index

CleanSpark, a leading energy software and control technology company, has been added to the S&P Small Cap 600 Index. This prestigious inclusion is a significant milestone for CleanSpark, as it solidifies the company’s position among the top small-cap companies in the U.S. market. The S&P Small Cap 600 Index is a widely recognized benchmark for [...]

The post CleanSpark’s Bitcoin Mining Operations Set to Land Them on the S&P SmallCap 600 Index appeared first on Crypto Breaking News.

Apr 21, 2023 02:50

AltSignals’s game-changing project sparks investor interest in ASI presale

AltSignals looks to revolutionise the crypto trading industry, and the early success of its ASI token presale shows how much interest the project is generating among investors. The ASI token is at the second stage of the presale, which investors can join here. AltSignals investment related news It wouldn’t be a surprise if AltSignals’ token …

<p>The post AltSignals’s game-changing project sparks investor interest in ASI presale first appeared on CCNC | Cryptocurrency Newscast.</p>

Sparkster to pay $35M to ‘harmed’ ICO investors after SEC charge

Author: noreply@blogger.com (Unknown)
United States
Sep 20, 2022 02:55

Sparkster to pay $35M to ‘harmed’ ICO investors after SEC charge

Sparkster will pay more than $35 million into a fund set to benefit investors who bought the platform’s SPRK token during an initial coin offering the US Securities and Exchange Commission (SEC) has said was unregistered and whose promotion violated the securities laws.

Sparkster agrees $35 million settlement with SEC

A press release from the SEC on Monday stated that Sparkster and its CEO Sajjad Daya, had agreed to the penalty as settlement over charges of offering unregistered securities in a token sale between April and July 2018.

Notably, Sparkster raised $30 million in its ICO sale, with 4,000 investors from the US and abroad participating. The company ostensibly lured investors with promises of gains for SPRK tokens, which the SEC has deemed unregistered securities that did not qualify for registration exemption.

The settlement with SEC includes $30 million in disgorgement, and $4,624,754 in prejudgment interest. The agency also imposed a $500,000 and $250,000 civil penalty against Sparkster and Daya respectively.

Collectively, the more than $35 million will be distributed to “harmed investors”, the SEC said in the press release

Carolyn M. Welshhans, Associate Director of the SEC’s Division of Enforcement said in a statement:

 “The resolution with Sparkster and Daya allows the SEC to return a significant amount of money to investors and requires additional measures to protect investors, including the disabling of tokens to prevent their future sale.”

As well as destroying the remaining SPRK tokens, Sparkster is expected to request crypto exchanges to delist them. Daya, who did not admit or deny the SEC’s charges, has agreed to keep off token offerings for five years.

Crypto influencer Ian Balina charged

As Invezz reported yesterday, the US securities regulator has also sued crypto influencer Ian Balina in relation to the Sparkster ICO.

According to the SEC’s complaint, Balina promoted the SPRK token on YouTube and other social media platforms, as well as resold the tokens to about 50 people.  In violation of the Securities Act, he neither registered the tokens nor disclosed an agreement to receive a 30% bonus on the $5 million SPRK purchase he made, the SEC noted.

“The SEC’s action against Balina further protects investors by seeking to hold accountable an alleged crypto asset promoter for failures to follow the federal securities laws.” – Welshhans said.

Balina has termed the charges by the SEC as “baseless” and one he’s ready to fight to the Supreme Court if possible. In any case, he said in a response to the SEC suit, that he is as much a victim of the Sparkster offering as any other investor.

16/ The SEC's demand for disgorgement of ill-gotten gains makes no sense because Mr. Balina had no gains at all. Further, at the time in question, May 2018, Mr. Balina had no reason to think the tokens in question were securities.

— Ian Balina (@DiaryofaMadeMan) September 19, 2022

The post Sparkster to pay $35M to ‘harmed’ ICO investors after SEC charge appeared first on Invezz.



from Cryptocurrency – Invezz

Sep 20, 2022 10:40

Sparkster Settles SEC Charges for Unregistered ICO, Agrees to Pay $35M to ‘Harmed Investors’


Sparkster agrees to pay over $35 million in a settlement with the U.S. Securities and Exchange Commission (SEC) over an "unregistered initial coin offering (ICO)" in 2018. (Read More)

Sep 20, 2022 12:35

Sparkster Will Compensate Harmed Investor Fund With $35 Million

Sparkster and its CEO, Sajjad Daya, have reached an agreement with the SEC. Sparkster has been ordered by the SEC

Sep 20, 2022 10:40

US SEC Files Lawsuit against Crypto Influencer Ian Balina


The United States Securities and Exchange Commission (SEC) has brought an enforcement action against Ian Balina, a popular crypto influencer for his involvement in the promotion of SPRK tokens back in 2017. (Read More)

Feb 10, 2025 05:55

Decline in XRP Futures Open Interest Sparks Concern: Are Altcoin Traders Abandoning Ship?

The open interest in XRP futures has seen a significant decline of 37%, raising questions about whether altcoin traders are abandoning ship. This drop in open interest could signal a shift in sentiment among traders, possibly indicating a move towards other assets. While XRP has been a popular choice among traders, the recent drop in [...]

The post Decline in XRP Futures Open Interest Sparks Concern: Are Altcoin Traders Abandoning Ship? appeared first on Crypto Breaking News.

Feb 08, 2025 05:50

CleanSparks Revenue Skyrockets by 120% Amid Bitcoin Margin Cost Improvement

CleanSpark, a microgrid software company, has seen a significant increase in revenue due to its Bitcoin mining operations. The company noted that its gross mining margin has also improved. CleanSpark has been leveraging its surplus energy to mine Bitcoin, which has resulted in a surge in revenue. By utilizing its excess power capacity for mining [...]

The post CleanSpark’s Revenue Skyrockets by 120% Amid Bitcoin Margin Cost Improvement appeared first on Crypto Breaking News.

Feb 07, 2025 05:50

Justin Sun Sparks HTX Feud as India Reconsiders Stance on Cryptocurrency: Asia Express

Justin Sun, the founder of TRON and CEO of BitTorrent, has recently found himself embroiled in a feud with HTX, a controversial blockchain project. The beef between Sun and HTX has escalated, drawing attention from the cryptocurrency community in India and across Asia. The animosity between Sun and HTX reportedly stems from conflicting ideologies regarding [...]

The post Justin Sun Sparks HTX Feud as India Reconsiders Stance on Cryptocurrency: Asia Express appeared first on Crypto Breaking News.

Feb 03, 2025 05:50

Trumps Trade War Sparks 2.7% Plunge in Nasdaq Futures

The recent turmoil in the markets have been sparked by fears of a potential trade war initiated by President Trump. The Nasdaq futures took a sharp dive as investors grew increasingly anxious about the implications of such a conflict on the global economy. Trump’s aggressive stance on trade, particularly with China, has put many investors [...]

The post Trump’s Trade War Sparks 2.7% Plunge in Nasdaq Futures appeared first on Crypto Breaking News.

Feb 16, 2025 05:50

January Sparks Liquidity Concerns with Over 600,000 New Tokens Launched

The issuance of crypto tokens is increasing, with over 600,000 tokens produced so far. However, along with this growth comes potential liquidity risks for investors and token holders. The rise in token issuance reflects the growing interest in the crypto market and decentralized finance (DeFi) projects. These tokens are being created for various purposes such [...]

The post January Sparks Liquidity Concerns with Over 600,000 New Tokens Launched appeared first on Crypto Breaking News.

Feb 11, 2025 05:50

Lawsuit Against US Treasury for DOGE Access Sparks Proposal for Stablecoin Bill: Law Decoded

In a recent development, the US Treasury is facing a lawsuit over its handling of access to Dogecoin, a popular cryptocurrency. Lawmakers are also introducing a new bill focused on regulating stablecoins in the market. This legal move brings to light the ongoing debates and challenges surrounding digital currencies. The lawsuit against the US Treasury [...]

The post Lawsuit Against US Treasury for DOGE Access Sparks Proposal for Stablecoin Bill: Law Decoded appeared first on Crypto Breaking News.

Feb 11, 2025 05:50

Rapid Expansion of Crypto Betting Market Sparks Demand for Billion-Dollar Volumes by 2025

The world of cryptocurrency betting markets is experiencing significant growth, prompting predictions of billion-dollar volumes by 2025. This unprecedented expansion is driven by increasing interest and participation in digital currency gambling options. With the rise of cryptocurrencies like Bitcoin, Ethereum, and others, more individuals are turning to online betting platforms as a way to make [...]

The post Rapid Expansion of Crypto Betting Market Sparks Demand for Billion-Dollar Volumes by 2025 appeared first on Crypto Breaking News.

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