Posts written by Thom Thompson

Libra

Libra

Facebook’s Libra, under pressure from politicians and reeling from defections, announced that 21 members of its governing association had signed the group’s charter on October 15.

Telegram

Telegram

Telegram, whose issuance of a digital token was halted by the SEC on Friday, has told investors that it may have to delay the launch of its much anticipated TON network. 

Heath Tarbert

Heath Tarbert

CFTC Chairman Heath Tarbert  told conference attendees, “It is my view as chairman of the CFTC that Ether is a commodity.” This was the most authoritative statement about Ether from anyone in the U.S. government so far.

Bcause LLC

Bcause LLC

Bcause, the world’s first “full-stack crypto ecosystem,” was ordered to be liquidated by a Chicago bankruptcy court today. Bcause filed for Chapter 11 protection six months ago.

Bcause LLC ordered into liquidation

Bcause LLC ordered into liquidation

U.S. Federal Bankruptcy Court Judge Janet Baer converted Bcause’s long six-month long  Chapter 11 bankruptcy proceeding into a Chapter 7 bankruptcy under which the company will be liquidated. The U.S. Trustee has been asked to assign a trustee...

CoinFLEX

CoinFLEX

CoinFLEX, a Hong Kong-based cryptocurrency platform, said its next “IFO” – initial futures offering – will be on Facebook’s Libra. The contract lets traders wager on the future value of Libra tokens. A price of zero implies the market doesn’t believe Libra will launch before the Dec 2020 contract expiration.

Coinbase

Coinbase

Coinbase is hiking trading fees for smaller accounts on its popular Coinbase Pro platform that is available to retail traders. It also is eliminating the discount for market maker transactions for accounts trading below $50,000 per month.

Documents unsealed in CFTC v Kraft

Documents unsealed in CFTC v Kraft

On Wednesday, October 2, the Chicago federal district court unsealed 500 hundred pages of documents in the contempt of court dispute between the CFTC and Kraft Foods and Mondelez, as ordered by the Seventh Circuit Court of Appeals. The CFTC...

Block.one

Block.one

Block.one, the software development company behind the Eos blockchain, received a $24 million slap on the wrist from the SEC for not registering its ICO, which raised $4.1 billion last year.

Crypto Rating Council

Crypto Rating Council

Coinbase today introduced the Crypto Rating Council, forming a group of eight exchanges and investors to rate cryptocurrencies’ legal resemblance to securities. 

Harbor

Harbor

A Harbor subsidiary received a broker-dealer license allowing the company to operate a marketplace for tokenized securities.

Kik

Kik

Kik, reeling from a lawsuit filed by the SEC in June, is reducing its staff to 19 and abandoning its messaging service to focus on Kin, the cryptocurrency at the heart of its legal problems. 

Bitlicense

Bitlicense

New York State’s Bitlicense, which even today is the only cryptocurrency regulatory program in the U.S., faces an existential challenge as a case against it goes to the NY Court of Appeals.

The CFTC’s Night Game

The CFTC’s Night Game

The CFTC, and in particular its new chairman, may be playing night time hardball in the federal courts. It certainly isn’t playing the game out under the lights, though.

Thom Thompson

Thom Thompson

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Thom Thompson is a derivatives specialist who has worked in product design, business development and regulatory roles for the CFTC, the Chicago Board of TradeThe Clearing CorporationSwiss ExchangeEurex and Eurex Clearing.

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