Расследование SEC и FINRA: растущая угроза инсайдерской торговли в мире DAT-компаний Translation: Investigation by SEC and FINRA: Rising Threat of Insider Trading in the World of DAT Companies

American regulators are investigating instances of potential insider trading involving shares of companies with digital asset treasuries (DAT). This information comes from the Wall Street Journal, citing informed sources.

According to the publication, the SEC and FINRA have already sent inquiries to several firms. The investigation includes over 200 issuers that disclosed information about cryptocurrencies in their reserves.

Unusual market activity caught the attention of regulators: prior to official announcements about the acquisition of digital assets, share prices exhibited sharp increases and abnormally high trading volumes.

The commission warned firms about potential violations of the Fair Disclosure Regulation (Regulation FD), which prohibits sharing confidential information with a limited number of individuals, thereby giving them an advantage in the market.

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

CryptoQuant stated that firms holding cryptocurrency reserves might face a significant drop in their stock prices.

194 public companies have adopted a bitcoin accumulation strategy, managing over 1 million BTC valued at more than $110 billion, which represents 4.6% of the total supply of digital gold.

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

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

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

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

Ethereum’s price fell below $4,000 for the first time since early August, with a minimum mark over the past 24 hours being $3,833.

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

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

As a reminder, QCP warned of the risk of Bitcoin dropping to $107,000 and Ethereum to $3,300.