The SEC has issued a Wells Notice to Robinhood, signaling potential regulatory action over its cryptocurrency practices. This notice, a formal warning that the SEC may take civil action, has been part of what some describe as a 'carpet bombing campaign' against the crypto industry. Robinhood has faced criticism for its handling of cryptocurrencies, including the forced sale of Solana at $8 and the delisting of other coins at market lows. The industry's reaction has been notably muted, suggesting that the market may have already adjusted to the SEC's aggressive stance under the current administration. Robinhood's CLO, Dan Gallagher, a former SEC commissioner appointed by Obama, is now at the center of these regulatory challenges.
SEC Wells Notice to Robinhood Crypto continues trend of probes in digital asset industry https://t.co/Ao4MiDFaUS
What is a Wells Notice? The origin of a Wells notice is quite interesting. It was named after the Wells Committee, which was formed in 1972 by then-SEC Chair William J. Casey. The committee, chaired by John Wells, was created to review and evaluate the enforcement practices and… https://t.co/goXmelTLO1
What is a Well Notice? The origin of a Wells notice is quite interesting. It was named after the Wells Committee, which was formed in 1972 by then-SEC Chair William J. Casey. The committee, chaired by John Wells, was created to review and evaluate the enforcement practices and… https://t.co/vzuZ4KaTcj
Remember when getting a Wells Notice meant something?
Receiving a wells notice is a status symbol
The company was just hit with a Wells Notice, or a formal warning that the SEC intends to take civil action. https://t.co/LuU2753Q4M
SEC'S "CARPET BOMBING" CAMPAIGN TARGETS CRYPTO AND THE INDUSTRY REACTS - Crypto lawyers have expressed dismay over the SEC's extensive issuance of Wells Notices to prominent crypto firms, deeming it an "astonishing" focus on the crypto sector. - Concerns have emerged regarding… https://t.co/wOoUNKQNSl https://t.co/S27AoeOE5p
JUST IN: CRYPTO LAWYERS SAY SEC IS ON A "CARPET BOMBING CAMPAIGN" AGAINST CRYPTO
The SEC served a Wells Notice to RobinHood and the market barely blinked further proving that the global market has already priced in the mix of stupidity and insanity from the current administration of the US Government. This is continually damaging to consumers. Sure,… https://t.co/773Gnx3Fms
what wells notice https://t.co/aWpG3uXm4S https://t.co/FotPTadUJH
SEC continues its carpet bombing campaign against crypto, issuing another Wells to Robinhood You have to wonder whether at this point Gensler has bit off more than he can chew Robinhood’s CLO, Dan Gallagher, is a former SEC commissioner appointed by Obama
1/10 When the SEC was embarrassed by the courts and forced to approve the Bitcoin ETFs,, I figured even a self-interested slimeball like Gensler would worry about his reputation a bit. Instead Gensler is doubling down on his political attacks against crypto on @RobinhoodApp
Didn't Robinhood dump all their client holdings that were deemed securities at the PICO BOTTOM to cover their asses? And still got a Wells Notice? Tf is this bullshit, even Mafia shakedowns aren't this obvious https://t.co/vgl5El8Kql
Another Wells notice 🙄. What is that again? It’s a heads-up from regulators saying “we think you broke some rules & we're considering taking action against you." The recipient can then argue their side. TL;DR - It’s a formal warning with a chance to plead your case. https://t.co/44GL2DP4fd
bullish wells notice
The Robinhood wells notice doesn't include Eth (according to the Mario Nawfal post quoted below) What does that mean? (Also remember Robinhood is literal trash - they force sold their customers Sol at $8 and removed the buy button on GME when it was pumping under pressure from…
> robinhood: delists risky coins at the bottom of the bear market > also robinhood: still gets dinged https://t.co/MIzGCPNZZO
SEC: protecting Robinhood investors since July 2023, when their comments led Robinhood to force sell customers' $SOL at less than $20 https://t.co/iotA1Br2EQ