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The SEC's latest target 🎯
Another day, another major crypto firm facing charges from the U.S. regulator. Here's the latest company to face the SEC's scorn.
Andrew Hayward
October 10, 2024
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Cumberland, the Chicago-based crypto trading subsidiary of DRW, was hit with charges Thursday by the U.S. Securities and Exchange Commission (SEC), which alleged that the firm handled billions of dollars worth of unregistered securities. The SEC also named some of its recurring targets in the filing, such as Solana and Polygon.
For its part, Cumberland says it will fight the charges and that it won’t change anything about its business amid the SEC action. Once upon a time, DRW took on the the CFTC when Gary Gensler—the current SEC Chair—was in charge. And DRW won.
“We’re ready to defend ourselves again,” Cumberland tweeted Thursday.
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