NEW YORK--(BUSINESS WIRE)--The law firm of Kirby McInerney LLP encourages cryptocurrency whistleblowers to contact the firm if they have knowledge of manipulation of and misconduct in the cryptocurrency markets.
For participants in the cryptocurrency markets, there is much cause for alarm of late. The catastrophic FTX bankruptcy highlights the cryptocurrency market’s susceptibility to fraud given its unregulated nature, and the fact that much of it is ostensibly overseas and otherwise opaque in its mechanics. In the face of this, investors are susceptible to exploitation and losses. In the case of FTX, investors and creditors are owed billions of dollars according to initial filings in the bankruptcy proceedings. FTX may be just the start of things.
How can regulators get insight into the crypto space and into the FTX situation in particular? In a word, whistleblowers. One regulator, the Commodity Futures Trading Commission recognizes as much. According to Bloomberg, the CFTC commissioner Kristin Johnson has said whistleblower tips could be critical for regulators to identify misconduct. She noted that the crypto world is not one easily understood from the outside.
The inability of regulators to easily oversee this market is demonstrated by their unprecedented public request for whistleblowers to help. To incentivize these whistleblowers, Ms. Johnson notes that they would be entitled to a significant percentage of any fine or levy based on any helpful information that the...
U.S. President Donald Trump said Wednesday that Iran had agreed not to execute eight women protesters, while Iranian officials and the judiciary denied any such executions had been planned and des...