Crypto trader Cumberland DRW sold $2bn in unregistered securities, SEC alleges – DL News
- The SEC has sued crypto trading firm Cumberland DRW.
- Cumberland said it would defend itself against the charges.
- SEC Chair and crypto foe Gary Gensler has become a flashpoint in the presidential election.
The Securities and Exchange Commission sued crypto company Cumberland DRW on Thursday, alleging the Chicago-based trading firm operated as an unregistered broker when it sold Solana and Polygon tokens, among others.
Since 2018, Cumberland has handled “more than $2 billion of crypto assets offered and sold as securities,” the SEC alleged.
The regulator wants Cumberland to disgorge “all illicit trading profits” and to pay a fine, among other demands.
Cumberland said it would defend itself against the charges.
“We are not making any…
