Report: SEC Whistleblower Awards Fall to 6-Year Low in FY 2025.

Plus DOJ seizes $15 billion in bitcoin that could end up in Strategic Bitcoin Reserve.

Massive Crypto Crash Crushes Altcoins, "Armageddon" for Traders

Plus the First Brands CEO is out as the company investigates accounting irregularities.

White House Ramps Up Pardon Talks for Binance Founder

Plus a new book about the history of women lawyers in the SDNY.

SEC Chairman Atkins Focuses on Wells Process: "Make Sure That We Get it Right"

Plus a scandalware mug poll.

The "Shift in the SEC’s Enforcement Playbook"

Plus a mug contest!

Fifth Circuit Confirms "Pump and Dumps Aren’t Legal After All"

Plus are you "WFY?"

JPMorgan on Hook for $115 Million in Defense Costs for Charlie Javice

Plus The Antifraud Company - a “private-sector DOGE.”

Court Rules Bored Ape NFTs are Not Securities

Plus D.C. federal court rejects Elon Musk's request to move SEC case to Texas.

This newsletter is off today, back on Monday.

What is the Optimal Level of Fraud in Business?

Plus watch out for SEC impersonators.

SEC Implements Shutdown Plan, Will Pare Down to 393 Employees

Plus Trump pulls Quintenz nomination for CFTC Chair, will announce new nominee.

SEC Chairman Atkins: "Crypto is Job No. 1 Right Now"

Plus a PSA from the SEC that “we are not the Securities and Everything Commission.”