Crypto collapse: FTX’s fall is one piece of a long, cold, contagious crypto winter
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Bittrex, one of the exchanges to allow trading in Dennis Rodman’s Potcoin crypto, has been charged by the SEC with operating an unregistered national securities exchange.
Why does the SEC think Bittrex was knowingly trading securities? According to the complaint (PDF), former CEO William Shihara said so to other co-founders in a 2017 message:
the problem is that its going to be seen by the SEC as a security. im meeting with these guys face to face to get specifics on how much they want to raise, who they are raising it from, and what they expect the after market to be. its a big enough opportunity that we might want to roll the dice on the sec investigation
It also alleges Bittrex spent the last few years trying to erase old social media messages about token ownership, price predictions, and interest.
