Shiba Inu’s (SHIB) Burn Rate Skyrockets, Cardano (ADA) Surpasses 90M Transactions, Amid Robinhood’s SEC Notice: Latest Crypto Updates
- Robinhood receives a Wells Notice from the SEC, indicating a potential enforcement action due to alleged violations of the Securities Exchange Act of 1934.
- The Shiba Inu community burns over 81 million SHIB tokens, pushing the burn rate up by 4,085.94% in 24 hours.
- Cardano records 90 million transactions, a significant milestone, as it prepares for network upgrades.
Robinhood faces potential SEC enforcement action, Shiba Inu’s burn rate soars, and Cardano hits a major transaction milestone. Stay updated with the latest crypto news.
SEC Sends Wells Notice to Robinhood
Robinhood, the popular trading platform, has received a Wells Notice from the Securities and Exchange Commission (SEC). The notice, issued on May 4, indicates a “preliminary determination” by the SEC staff to recommend enforcement action against Robinhood. The platform is alleged to have violated Sections 15(a) and 17A of the Securities Exchange Act of 1934, suggesting that Robinhood offers its customers crypto assets classified as unregistered securities by the SEC. This is not Robinhood’s first encounter with the SEC; in December 2022, the platform received an investigative subpoena from the SEC regarding its cryptocurrency listings and overall operations.
