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SEC Calls Out Suspicious Crypto Companies Targeting Global Traders
The securities regulator added eight suspect crypto entities to its watchlist Thursday.
By Danny Nelson
Updated Sep 14, 2021, 10:59 a.m. Published Jan 22, 2021, 2:07 a.m.
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The U.S. government's top investments watchdog flagged a series of unregistered cryptocurrency companies for apparently duping mostly international investors with false corporate information.
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Of the 28 suspect investment firms the U.S. Securities and Exchange Commission (SEC) called out Thursday, CoinDesk found eight that appear to target would-be cryptocurrency investors. Some purport to be trusted newcomer trading hubs; others peddle their services to retirees. One even fashions itself as a law firm that can help against crypto fraud.
Flagged companies AxTrading-Investment, Passive Trade Plan, RetireWell Investors, Reclaws International Inc. and SmartCoins24 all offered cryptocurrency and blockchain services on their websites Thursday, CoinDesk found. Three other entities whose websites were down, BitminingFX, Cryptobravos and FXBitcash, also made the SEC's blacklist.
The entities' websites appear to mix welcoming rhetoric and sweeping claims in their efforts to woo investors. Passive Trade Plan's described itself as "a trusted authority on digital currency investing" while Smartcoins 24 promised to "trade the hottest coins of 2018."
"Our bitcoin trading services is suitable for those who are new to the world of cryptocurrencies, as well as for bitcoin experts and large-scale bitcoin investors," read the website for AxTrading-International.
The SEC said Thursday that investors have filed complaints against all 28 flagged entities. These firms "use misleading information to solicit primarily non-U.S. investors," SEC said. It said it added the firms to its warning list, called PAUSE, to help investors "avoid being a victim of fraud."
The SEC periodically warns the investing public against too-good-to-be-true opportunities in the cryptocurrency space. Previous notices have detailed fraud in Initial Exchange Offerings and cases of public companies pumping their value with initial coin offerings. Back in 2014, the agency warned that investors should avoid getting swept up in the bitcoin hype machine.
Those clear-eyed warnings may take a sharper form with a new securities sheriff likely coming to Washington. President Joe Biden has tapped Gary Gensler, the crypto-savvy former head of fellow investments regulator the Commodities and Futures Trading Commission, to lead the SEC.
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KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
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Cathie Wood’s ARK Invest files for two crypto index ETFs tied to CoinDesk 20
One proposed fund will attempt to exactly mimic the CoinDesk 20, but the other would track the index, excluding bitcoin.
Ano ang dapat malaman:
- ARK Invest has filed with U.S. regulators to launch two cryptocurrency ETFs tracking the CoinDesk 20 index.
- One proposed fund would track the CoinDesk 20, which provides exposure to major tokens, including bitcoin, ether, solana, XRP, and cardano. The other would track the same index, but exclude bitcoin, by pairing long index futures with short bitcoin futures.
- The funds, which would list on NYSE Arca if approved, aim to offer diversified crypto exposure without direct token custody and follow similar, still-unapproved crypto index ETF proposals from WisdomTree and ProShares.
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