Новый взгляд на SEC и FINRA: расследование в отношении компаний с цифровыми активами New Perspective on SEC and FINRA: Investigation into Digital Asset Companies

American regulators are investigating instances of potential insider trading involving shares of firms holding digital assets in treasury accounts (DAT). This was reported by the Wall Street Journal, citing knowledgeable sources.

According to the publication, the SEC and FINRA have sent inquiries to several companies. The investigation involves over 200 issuers who disclosed information about cryptocurrencies in their reserves.

Unusual market activity caught the attention of regulators: prior to official announcements regarding the acquisition of digital assets, there was a significant surge in stock prices and abnormally high trading volumes.

The Commission warned firms about potential violations of the Fair Disclosure Regulation (Regulation FD), which prohibits the provision of confidential information to a limited group of individuals, giving them an unfair advantage in the market.

Critics of the DAT strategy have already pointed out the potential for insider trades. Experts have repeatedly emphasized the risks associated with digital treasuries. In July, on-chain analyst James Check predicted a collapse of Strategy imitators.

At CryptoQuant, it was stated that companies with cryptocurrency reserves might face a steep drop in stock prices.

A total of 194 publicly traded companies have adopted the strategy of accumulating Bitcoin. They collectively manage over 1 million BTC valued at more than $110 billion, representing 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 valued at $5.7 billion) and Twenty One Capital (43,514 BTC worth $4.7 billion).

Ethereum-focused firms have purchased a total of 5.2 million ETH valued at $20.6 billion.

Over the past day, the market capitalization of digital assets decreased by 2.4%, dropping to $3.8 trillion. All coins in the top ten experienced declines, losing up to 5% in value.

The price of Bitcoin dipped to $108,787. At the time of writing, the cryptocurrency is trading around $109,000.

Ethereum’s price fell below $4000 for the first time since early August, hitting a low of $3833 within the last 24 hours.

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

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

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