BitMEX Co-Founder’s ‘God Access’ Trading Desk Under Legal Scrutiny: Judge Orders Suit to Proceed

Wilmington, Delaware – The co-founder of cryptocurrency exchange BitMEX, Arthur Hayes, has been ordered by a judge to defend himself in a lawsuit over allegations of facilitating illicit trading activities. The lawsuit accuses Hayes and his colleagues of creating a “God Access” trading desk that provided unfair advantage to certain users. The ruling comes after a federal judge in Delaware denied Hayes’ motion to dismiss the case. The judge stated that the plaintiffs had presented sufficient evidence to move forward with their claims. The lawsuit was filed by BMA LLC, a former client of BitMEX, … Read more

Controversial Insider Trading Verdict Raises Concerns About Vague Legal Definition

San Francisco, CA – The recent insider trading case against Matthew Panuwat has sparked a debate over the definition and prosecution of insider trading in the United States. The U.S. Securities and Exchange Commission (SEC) celebrated a jury verdict in favor of the prosecution, asserting that it was a clear case of insider trading. However, critics argue that the SEC’s theory of shadow trading is novel and not explicitly outlined in the federal statutes that govern insider trading. According to the SEC, Panuwat used confidential information about an impending acquisition of biopharmaceutical company Medivation, Inc., … Read more

Former Biopharmaceutical Executive Found Liable for ‘Shadow Trading’ in Landmark Insider Trading Case

SAN FRANCISCO (AP) — A former biopharmaceutical executive was found liable for “shadow trading,” an insider trading theory, by a federal jury in San Francisco on Friday. The jury’s decision rejected the defense’s claim that the case was constructed by the U.S. Securities and Exchange Commission (SEC) without evidence of the motives behind the trades. This verdict could have significant implications for insider trading regulations. Matthew Panuwat, the defendant, was accused by the SEC of having confidential information about his employer, Medivation Inc., and trading in the securities of Incyte Corp., a closely related company. … Read more

High-Stakes Bet: Biotech Executive Found Guilty of Insider Trading in Shocking Turn of Events

SAN FRANCISCO (AP) — A biotech executive, who was found guilty of insider trading by a jury, had allegedly made significant investments in a competitor’s stock. The verdict was announced following a trial that took place in San Francisco, California. This case highlighted the consequences of illicit financial activities among executives and the impact it can have on the integrity of the stock market. The unidentified executive was accused of using confidential information to trade shares of a rival company, resulting in unfair gains. The individual’s actions were uncovered during an investigation by the Securities … Read more