News

BlockBeats News, May 30th, the U.S. Securities and Exchange Commission (SEC) announced a lawsuit against Texas resident Nathan Fuller, accusing him of conducting a fraud through a cryptocurrency trading project, raising approximately $12.3 million from about 150 investors. The SEC stated that Fuller, between October 2022 and mid-2024, sold related investment products to investors through entities like Privvy Investments, claiming to use a proprietary AI trading bot for cryptocurrency high-frequency arbitrage trading. According to the complaint, Fuller had promised investors returns of over 40%-50% within 30 to 45 days and claimed a guaranteed return of over 100% in as quickly as 21 days. The SEC stated that the said AI trading bot did not function as advertised, and Fuller misappropriated at least $6.2 million of investor funds for personal expenses, used approximately $5.5 million for Ponzi-like payouts, and misled investors through manipulated account statements and false documents.

BlockBeats News, May 30th, Securities and Exchange Commission (SEC) Chairman Paul Atkins stated during his speech at the 2026 Reagan National Economic Forum that the SEC is actively advancing former President Trump's goal of "Making America the Global Cryptocurrency Hub." The SEC is collaborating with the Commodity Futures Trading Commission (CFTC) to promote Project Crypto, aiming to enhance the regulatory framework for the decentralized finance market. Atkins mentioned that the SEC has issued guidance on digital asset classification, specifying which digital assets are securities and which are not. The SEC is also progressing towards an Innovation Exemption for tokenized securities and studying how to integrate on-chain trading systems into the existing regulatory structure. He noted that the previous U.S. regulatory environment had hostility towards the digital asset industry, leading to significant innovation and businesses relocating overseas. Currently, the SEC and CFTC are strengthening regulatory coordination, ending the long-standing regulatory ambiguity, and providing market participants with a clearer compliance path. Furthermore, Atkins announced that the SEC has proposed repealing the climate disclosure rule introduced by the previous administration and will continue to advance reforms such as reducing regulatory burdens on listed companies and encouraging corporate listings.

BlockBeats News, May 30th, as HYPE surged above $65, reaching a new all-time high. The unrealized gains of HYPE in the treasury of Hyperliquid's financial firm, HypeStrat, have surpassed $1 billion, the highest among all Decentralized Autonomous Treasuries (DATs). Meanwhile, the unrealized losses of the Ethereum treasury firm BitMine (BMNR) have exceeded $8 billion, the highest among all crypto treasury firms.