The US Securities and Exchange Commission (SEC) is increasing its pressure on crypto companies. Another new case has arrived. The latest NFT The agency, which filed a lawsuit against one of the largest companies in its field, is now targeting the consulting firm Galois.
SEC New Crypto Lawsuit
The Securities and Exchange Commission just released a statement based in Florida crypto- filed charges against his firm, Galois Capital Management LLC. The commission says the firm also misled investors in the fund about redemptions. To settle the charges, Galois agreed to pay $225,000 to injured investors. SEC‘s announcement includes the following details; A Prize Pool Worth 21 Million TL Awaits You from BinanceTR! Participating and winning has never been easier.. You can sign up to BinanceTR from this link. Get your first crypto!
“The SEC’s ruling found that, as of July 2022, Galois Capital failed to ensure that certain crypto assets held by the private fund it advised were held at a qualified custodian, which violated the Investment Advisers Act’s Custodial Rule. According to the ruling, Galois Capital held certain crypto assets in online trading accounts with crypto asset trading platforms that were not qualified custodians, including FTX Trading Ltd. Approximately half of the fund’s assets under management through early to mid-November 2022 were lost in connection with the collapse of FTX.”
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
