The SEC closed its investigation into Robinhood’s crypto division on February 24, 2025, without taking any enforcement action. Robinhood Chief Legal Officer Dan Gallagher claimed the investigation ’never should have been opened,’ marking a significant moment in the Trump …
Donald TrumpTrump AdministrationDan GallagherRobinhood Crypto Divisioncryptoregulatory-capturetrump-administrationsecfintech
Voyager Digital Holdings and affiliates file Chapter 11 bankruptcy in the Southern District of New York after the collapse of crypto hedge fund Three Arrows Capital (3AC), which triggered a domino effect through the interconnected and unregulated crypto lending market. Voyager, like Celsius, …
Voyager DigitalThree Arrows CapitalSecurities and Exchange Commission (SEC)BlockFiCelsius Network+2 morecrypto-fraudregulatory-voidbankruptcysystemic-riskshadow-banking+3 more
Terraform Labs, led by Do Kwon, temporarily halted the Terra blockchain on May 13, 2022, after a catastrophic four-day collapse that wiped out nearly $45 billion in market capitalization and devastated hundreds of thousands of retail investors globally. LUNA, which traded at $119 in April and $87 on …
Do KwonTerraform LabsSecurities and Exchange Commission (SEC)CFTCPaul Engelmayer+2 morecryptoregulatory-capturefraudstablecoinsystemic-risk+4 more
U.S. Attorney’s Office for the Southern District of New York and the SEC simultaneously charge Nikola Corporation founder Trevor Milton with securities and wire fraud for systematically deceiving investors about the company’s hydrogen truck technology. Milton made false claims that a …
Trevor MiltonNikola CorporationSecurities and Exchange Commission (SEC)DOJHindenburg Research+2 morefraudspac-erasecurities-fraudregulatory-gapssec+2 more
WeWork formally withdraws its S-1 filing and postpones its IPO after investor scrutiny reveals catastrophic governance failures and self-dealing by CEO Adam Neumann. The company’s valuation collapses from $47 billion (January 2019) to under $10 billion in months. The SEC investigation reveals …
Adam NeumannWeWorkSecurities and Exchange Commission (SEC)SoftBankJohn White+1 morefraudregulatory-capturecorporate-governancesecrevolving-door+2 more
An enforcement branch chief in the SEC’s San Francisco office left the agency in May 2010 to become in-house counsel at Wells Fargo & Co. Less than two weeks after joining Wells Fargo, she filed six disclosure statements indicating she would be representing the bank in connection with …
Wells FargoSecurities and Exchange Commission (SEC)SEC San Francisco Officerevolving-doorwells-fargosecregulatory-captureenforcement+1 more
On December 11, 2008, FBI agents arrested Bernard L. Madoff for orchestrating the largest Ponzi scheme in history, worth approximately $65 billion and affecting 37,000 victims across 136 countries. Madoff, former chairman of the Nasdaq Stock Market, confessed to his sons on December 9 that his …
Bernie MadoffFederal Bureau of InvestigationSecurities and Exchange Commission (SEC)Harry Markopolosfraudregulatory-capturesecponzi-schemefinancial-crime+3 more
On November 7, 2005, financial analyst Harry Markopolos submitted his third and most detailed complaint to the SEC, a report entitled ‘The World’s Largest Hedge Fund is a Fraud,’ outlining approximately 30 red flags indicating that Bernie Madoff was operating a Ponzi scheme, which …
Harry MarkopolosSecurities and Exchange Commission (SEC)Bernie Madofffraudregulatory-capturesecponzi-schemefinancial-crime+3 more
On October 22, 2001, the Securities and Exchange Commission announced it was formally investigating Enron’s suspicious dealings with partnerships controlled by CFO Andrew Fastow, characterizing them as “some of the most opaque transactions with insiders ever seen.” Enron’s …
Securities and Exchange Commission (SEC)Andrew FastowKenneth Laycorporate-fraudenronsecinvestigationregulatory-enforcement
Under Reagan administration SEC Chairman John Shad, former vice chairman of E.F. Hutton, the Securities and Exchange Commission adopts Rule 10b-18, creating a ‘safe harbor’ from manipulation liability for corporate stock repurchases. Prior to this rule, large-scale share repurchases were …
Securities and Exchange Commission (SEC)John ShadRonald Reaganseccorporate-powerwealth-extractionstock-buybacksderegulation+1 more
President Roosevelt appoints Joseph P. Kennedy, a wealthy Wall Street speculator known for stock manipulation and insider trading, as the first chairman of the newly-created Securities and Exchange Commission on July 2, 1934. The appointment shocks New Deal reformers and delights Wall Street, …
Franklin D. RooseveltJoseph P. KennedySecurities and Exchange Commission (SEC)Wall Streetregulatory-capturenew-dealsecfinancial-regulationrevolving-door