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SEC Launches Inquiry Into Insider Trading at Crypto Exchanges: Report
The agency has sent a letter to at least one major crypto exchange asking about its safeguards, according to Fox Business.
By Nelson Wang
Updated May 11, 2023, 6:32 p.m. Published Jun 14, 2022, 9:16 p.m.
The U.S. Securities and Exchange Commission (SEC) has begun an investigation into whether crypto exchanges have sufficient protections against insider trading, according to Fox Business, which cited a source with direct knowledge of the inquiry.
- The source said the SEC had sent a letter to a major crypto exchange asking about the kinds of protections it has in place against insider trading. The inquiry is meant to cover additional exchanges as well, according to the source.
- The letter was sent after the collapse last month of Terra’s UST stablecoin and the associated LUNA token, according to the report.
- The SEC did not immediately respond to a request for comment on the Fox News report.
- The SEC is also reportedly looking into whether Terraform Labs, the company behind UST and LUNA, violated U.S. laws in its marketing of the cryptocurrencies.
Read more: SEC Chair Gensler Suggests Lummis-Gillibrand Bill May ‘Undermine’ Market Protections
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What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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Crypto bank Custodia files petition for a rehearing by all appellate judges
The Wyoming-based cryptocurrency bank argued that the three-judge panel undermined state banking authorities, raising “serious constitutional questions”
What to know:
- Custodia Bank has filed a petition for a rehearing en banc with the Tenth Circuit Court of Appeals in its legal battle against the Federal Reserve.
- The bank argues that the Fed's denial of a master account undermines state banking authority and raises constitutional concerns.
- The October ruling against Custodia is a significant setback in its efforts to gain access to the U.S. payments system.
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