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BREAKING: Grown-Ups Show Up, Put a Stop to Your Crypto Ponzi Scheme and Take Away All the Free Pizza

A  illustration of a giant pizza with bite taken out of it being held by an SEC agent in handcuffs while behind them a Cumberland DRW executive looks on sheepishly, surrounded by broken cryptocurrency charts and scattered dollar bills.

Cumberland DRW’s crypto empire just got crushed by the SEC – nice job trying to scam your way into $2 billion in ill-gotten gains! You know who else isn’t having it? The grown-ups, that is.

Source: cointelegraph

The United States Securities and Exchange Commission (SEC) filed suit against Cumberland DRW on Oct. 10, advancing a single charge of operating as an unregistered dealer. Cumberland has allegedly sold more than $2 billion in crypto assets since 2018 in violation of federal registration requirements. The SEC claims that Cumberland acted as an unregistered dealer in its proprietary trading (trading on its own accounts) and when trading on third-party crypto asset exchanges. […]

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