Расследование SEC и FINRA может выявить инсайдерские схемы на рынке крипто-трезервов Translation: SEC and FINRA Investigation May Uncover Insider Schemes in the Crypto Treasury Market

U.S. regulators are investigating potential insider trading cases involving stocks of companies with digital asset treasuries (DAT). This was reported by the Wall Street Journal, citing informed sources.

According to the publication, the SEC and the FINRA have already sent requests to several companies. The investigation covers over 200 issuers that disclosed cryptocurrency holdings in their reserves.

The unusual market activity caught the attention of regulators: prior to official announcements regarding the purchase of digital assets, stock prices experienced significant spikes and abnormally high trading volumes.

The commission has warned companies about potential violations of Regulation Fair Disclosure (Regulation FD), which prohibits the sharing of confidential information with a select few, thus providing them an unfair market advantage.

Critics of the DAT strategy have already pointed out the possibility of insider trades. Experts have repeatedly highlighted the risks associated with digital treasuries. In July, on-chain analyst James Check predicted the downfall of Strategy imitators.

According to CryptoQuant, companies with cryptocurrency reserves might face a significant drop in stock prices.

A total of 194 public companies have adopted a strategy for accumulating Bitcoin. They collectively manage over 1 million BTC valued at more than $110 billion, which constitutes 4.6% of the total supply of digital gold.

The largest holder of the first cryptocurrency is Strategy, which holds 639,835 BTC worth $70 billion. The top three also include Marathon Digital (52,477 BTC worth $5.7 billion) and Twenty One Capital (43,514 BTC worth $4.7 billion).

Ethereum-focused firms have collectively acquired 5.2 million ETH valued at $20.6 billion.

In the past 24 hours, the market capitalization of digital assets has decreased by 2.4%, falling to $3.8 trillion. All top-10 coins have experienced declines, losing up to 5% of their value.

The price of Bitcoin dropped to $108,787. As of writing, the cryptocurrency is trading around $109,000.

The price of Ethereum fell below $4,000 for the first time since early August, with a low point of $3,833 in the last 24 hours.

According to CoinGlass, the daily liquidation volume exceeded $970 million, with the largest losses incurred by traders betting on the rise of the two largest cryptocurrencies by market capitalization.

The Fear and Greed Index has dropped from 44 to 28 points, nearing the boundary of the «extreme fear» zone.

Recall that QCP warned about the risk of Bitcoin falling to $107,000 and Ethereum to $3,300.