Ripple general counsel Stuart Alderoty described BlockFi’s bankruptcy as another success for the U.S. SEC and its regulation-by-enforcement approach.
Уште една успешна приказна за „регулација со спроведување“ на ДИК.
Месеци по договорот за BlockFi/SEC од 100 милиони долари BlockFi во b/cy. Заем од 275 милиони долари за FTX од BlockFi. Непознати износи што се должат на BlockFi од FTX. Ништо никогаш не е регистрирано. Платени казни? Со чии пари? Потрошувачите десеткувани. https://t.co/XWflfRDIMk
- Стјуарт Алдероти (@s_alderoty) Ноември 28, 2022
Alderoty referenced the SEC’s $100 million settlement with BlockFi, asking whose money was used to pay the settlement. The Ripple lawyer Истакна that nothing was ever “registered” in the deal, wondering if BlockFi made the first two payments to the regulator.
Ништо никогаш не било „регистрирано“ според договорот BlockFi/SEC. Што е со првите две плаќања за казната од 100 милиони долари? Доколку се направени, дали ДИК ја потврди способноста на BlockFi да плати и/или изворот на средствата? FTX b/cy покажува заем од 250 милиони долари на BlockFi и сега средствата на клиентите се блокирани.
- Стјуарт Алдероти (@s_alderoty) Ноември 27, 2022
Alderoty also questioned whether the SEC confirmed the crypto lender’s “ability to pay and/or the source of funds” if BlockFi made the payments.
In February, BlockFI договорено to pay the US SEC a $100 million fine for its failure to register its lending product with the regulator. The SEC’s top officials repeatedly Нагласени how this enforcement action was a major win for the commission.
Во јули, BlockFi добиени a $400 million line of credit from FTX. The Sam Bankman-Fried-led exchange would later file for bankruptcy, forcing the crypto lender to запре withdrawals for its customers.
Ripple CTO alleges SEC fine made BlockFi financially weak
Ripple CTO Дејвид Шварц рече BlockFi might have gotten a loan from FTX to pay off the SEC’s settlement. He added that this might have forced the lender to store its assets on FTX in order to continue operating.
“In other words, the SEC may have made BlockFi so weak financially that it had no choice but to store crypto at FTX to continue operating, possibly the cause of their collapse.”
SEC among BlockFi’s largest creditors
Meanwhile, Nov. 28 court поднесоци have shown the SEC listed among BlockFi’s creditors. According to the court document, the firm owes the financial regulator $30 million.
The bankruptcy filing showed that the lender has over 100,000 creditors, owing over $1 billion to its top 3 creditors.
Its largest creditor is Ankura Trust Company, which is owed more than $729 million. Its second-largest creditor is FTX-related West Realm Shires Inc. which is owed $275 million. An unnamed customer is owed $48 million.
Source: https://cryptoslate.com/ripples-general-counsel-says-blockfi-bankruptcy-is-another-sec-regulation-by-enforcement-success-story/