Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
SEC moves to drop lawsuit against Cumberland DRW, marking latest crypto probe dissolved under Trump administration

SEC moves to drop lawsuit against Cumberland DRW, marking latest crypto probe dissolved under Trump administration

The BlockThe Block2025/03/03 16:00
By:By Sarah Wynn

Quick Take Cumberland said it signed a “joint filing” with the SEC to dismiss its case on Tuesday. Cumberland DRW, a Chicago-based crypto trading firm part of DRW, was sued last year after the SEC said it acted as a dealer without being registered.

SEC moves to drop lawsuit against Cumberland DRW, marking latest crypto probe dissolved under Trump administration image 0

The U.S. Securities and Exchange Commission agreed to drop its lawsuit against Cumberland DRW LLC, according to the firm.

Cumberland said it signed a "joint filing" with the SEC to dismiss its case on Tuesday. The filing was "agreed in principle" between the two last month and is awaiting the SEC's approval. The SEC did not immediately respond to a request for comment. 

"As a firm deeply committed to the principles of integrity and transparency, we look forward to continuing our dialogue with the SEC to help shape a future where technological advancements and regulatory clarity go hand in hand, ensuring that the U.S. remains at the forefront of global financial innovation," the firm said on Tuesday in a post on X. 

Cumberland DRW, a Chicago-based crypto trading firm part of DRW, was sued last year after the SEC said it acted as a dealer without being registered when trading $2 billion in crypto. 

The agreement to drop the agency's charges against Cumberland DRW marks the latest move from the SEC, signaling a monumental shift from the prior administration. Over the past few weeks, the agency has dropped lawsuits against  Kraken ,  Consensys   and Coinbase,  as well as probes into  Gemini and   Yuga Labs , among others.  


0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

SEC says liquid staking and tokens are NOT securities; no registration needed

Share link:In this post: The SEC clarified that certain liquid staking activities in cryptocurrency do not qualify as securities offerings, providing clearer guidance on digital asset regulation. Under SEC Chair Paul Atkins, the agency is adopting a more proactive approach to cryptocurrency regulation, away from the previous “regulation by enforcement” regime. While many now praise the SEC under Atkins for its pro-crypto stance, the agency is effectively divided, with one faction in support of Gary Gensler

Cryptopolitan2025/08/06 04:30

OpenAI releases GPT-OSS, its first open-source AI model

Share link:In this post: OpenAI released two open-weight models, gpt-oss-120b and gpt-oss-20b, for public use. The models are downloadable under Apache 2.0 and run on platforms like GitHub, Hugging Face, and LM Studio. OpenAI filtered sensitive data and tested against malicious fine-tuning before release.

Cryptopolitan2025/08/06 04:30

New Zealand jobless rate hits 5-year high as economic slowdown deepens

Share link:In this post: New Zealand’s jobless rate rose from 5.1% in Q1 to 5.2% in Q2 2025, marking the highest level since Q3 2020. Total employment declined by 0.1% quarter-on-quarter, matching forecasts, and by 0.9% compared to last year’s quarter. Despite the annual slowdown, wages rose 0.6% over the quarter, and average hourly earnings jumped 1.9%.

Cryptopolitan2025/08/06 04:30
New Zealand jobless rate hits 5-year high as economic slowdown deepens