What happened in crypto this weekend?

Crypto industry figures are backing a judge’s threat to sanction the United States securities regulator in court, while the brothers behind the Platypus Finance hack are out free.

Debt Box case judge ‘not fucking having it’ with SEC conduct

A Utah federal judge’s threat to sanction the United States Securities and Exchange Commission over alleged deceptive statements about a crypto company it sued shows its conduct is “exceptionally bad,” according to one crypto executive.

On Nov. 30, District Judge Robert Shelby alleged the SEC lied about Debt Box moving funds outside of the United States so a court would grant a freeze on its assets. The SEC sued the company in August, accusing it of running a $50 million fraudulent enterprise.

“This sort of conduct is exceptionally bad, even by SEC standards,” crypto consulting firm Zero Knowledge founder Austin Campbell said in a Dec. 1 X (Twitter) post.

“The most insulting part of this is that in the process of being mustache-twirling villains, the SEC couldn’t even be competent at it,” Campbell added.

Crypto-focused lawyer John Deaton posted to X that anyone “surprised a federal judge is considering sanctions against the SEC for lying to the Court, in a case involving crypto, has not been paying attention during the last 3 years.”

Any person surprised a federal judge is considering sanctions against the SEC for lying to the Court, in a case involving crypto, has not been paying attention during the last 3 years.

It appears the Lawyers at the SEC have made it personal when it comes to crypto cases. SEC… https://t.co/1rjLjiTvF3

— John E Deaton (@JohnEDeaton1) December 2, 2023

Deaton claimed the SEC had “made it personal when it comes to crypto cases” and named its lawyers Jorge Tenreiro and SEC Division of Enforcement director Gurbir Grewal as examples who “don’t hesitate to intentionally mislead the Court.”

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