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Robinhood to pay $45M in civil penalties to settle SEC charges

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Robinhood Markets has agreed to pay a $45 million settlement to resolve charges from the U.S. Securities and Exchange Commission (SEC) concerning multiple securities law violations. The SEC’s investigation identified over ten infractions by Robinhood’s brokerage units, Robinhood Securities LLC and Robinhood Financial LLC. These violations include failures in recordkeeping, trade reporting, and the maintenance of accurate books and records.
SEC

The SEC’s findings revealed that Robinhood’s broker-dealers did not properly report trading activities, comply with short sale regulations, or submit timely suspicious activity reports. Additionally, the company failed to preserve electronic communications from customers between 2020 and 2021 and submitted inaccurate information in response to SEC requests, known as Electronic Blue Sheets, affecting at least 392 million transactions.
SEC

The settlement allocates $33.5 million to Robinhood Securities and $11.5 million to Robinhood Financial. Both entities have agreed to be censured and have committed to enhancing their compliance measures to prevent future violations. Robinhood’s General Counsel, Lucas Moskowitz, expressed satisfaction with resolving these matters and emphasized the company’s dedication to working collaboratively with the SEC under the new administration.
REUTERS

This settlement is part of a broader initiative by the SEC to enforce stricter compliance among financial institutions, particularly concerning the use of unauthorized messaging platforms and the safeguarding of customer information. The SEC’s actions underscore its commitment to ensuring transparency and integrity within the financial markets.
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Bitcoin price risks drop to $71K as Trump tariffs hurt US business outlook

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Bitcoin is setting its sights on the $71,000 mark as market conditions shift in response to geopolitical and economic developments, including a new tariff agreement and weakening U.S. business sentiment.

Recent market activity suggests that Bitcoin is benefiting from concerns over traditional economic indicators, with investors turning to digital assets as a hedge against economic uncertainty. A rare slump in U.S. business outlook has fueled speculation that risk assets, including Bitcoin, could see increased inflows.

Additionally, ongoing global trade negotiations and tariff adjustments have contributed to market volatility, prompting investors to seek alternative stores of value. Analysts suggest that if macroeconomic pressures persist, Bitcoin could continue its upward trajectory, potentially testing the $71,000 resistance level.

Despite short-term fluctuations, Bitcoin remains a focal point for investors navigating inflation concerns, regulatory shifts, and global economic trends. The coming weeks will be critical in determining whether Bitcoin can sustain its momentum and break through key price barriers.

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Crypto donations top $1B in 2024, gain traction after Myanmar, Thailand quake

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Changpeng “CZ” Zhao, the former CEO of Binance, has donated 1,000 BNB to aid relief efforts following a powerful earthquake that struck the Thailand-Myanmar border region. The donation, valued at approximately $600,000, aims to support those affected by the disaster and assist in recovery operations.

The earthquake caused significant damage in several areas, displacing residents and impacting local infrastructure. CZ’s contribution highlights the growing role of cryptocurrency in humanitarian aid, providing fast and transparent relief funding.

The donation will be distributed to organizations working on the ground to deliver emergency assistance, including shelter, food, and medical supplies. Crypto-based aid is increasingly being utilized in disaster response efforts due to its efficiency in reaching affected communities without the delays of traditional banking systems.

As the affected regions begin the recovery process, the crypto community continues to demonstrate how blockchain technology can play a meaningful role in global humanitarian initiatives.

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Hackers are selling counterfeit phones with crypto-stealing malware

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Security researchers have uncovered a wave of counterfeit Android devices preloaded with malware designed to steal cryptocurrency, posing a significant threat to users worldwide. The infected devices, which mimic popular smartphone brands, contain malicious software capable of hijacking digital wallets and siphoning funds.

The malware, embedded at the firmware level, allows attackers to gain remote access, intercept sensitive data, and execute unauthorized transactions. Because the malicious code is deeply integrated into the device’s operating system, it is difficult to detect and remove, making it a persistent threat.

Cybersecurity experts warn that unsuspecting buyers may unknowingly expose their crypto holdings to risk by purchasing these compromised devices from unverified sellers. Users are urged to exercise caution by only purchasing smartphones from trusted retailers and manufacturers.

The discovery highlights the growing sophistication of cybercriminals targeting the cryptocurrency sector. As mobile-based crypto transactions become more common, security measures such as hardware wallet usage and multi-factor authentication are increasingly essential to safeguard digital assets from emerging threats.

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