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SEC Charges Ex-US Congressman For Violating Securities Exchange Act

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Sec Charges Ex-Us Congressman For Violating Securities Exchange Act
  • Stephen Buyer has been charged with insider trading by SEC.
  • Stephen purchased more than $1.5 million worth of Sprint and Navigant Consultancy stock.

The Securities Exchange Commission (SEC) charged Stephen Earle Buyer, a former US representative for Indiana’s 4th congressional district, with insider trading on July 26, 2022. SEC has filed suit in federal district court in Manhattan alleging that Stephen Buyer violated Rule 10b-5 and Section 10(b) of the Securities Exchange Act of 1934.

This complaint claims allegations against Stephen Buyer, for both criminal and civil actions, with insider trading for buying shares from the firms with secret information.

Accusation On The Representative Officer

Stephen Buyer is accused of using several investment accounts owned or co-owned by his wife, his son, and his cousin to purchase shares of stock after obtaining secret information while working as a consultant, for two different organizations, after leaving Congress in 2011. 

According to the prosecution, Stephen purchased more than $1.5 million worth of Sprint and Navigant Consultancy stock in 2018 and 2019 using insider knowledge he gained through consulting work. 

In 2018, after learning about Sprint’s merger with T-Mobile, he purchased Sprint Common Stock for a total of $568,000 from multiple accounts. Following the announcement of the merger, Stephen profited over $107,000. 

Also, Stephen Buyer bought more than $1 million worth of Navigant Consulting stock in 2019. The SEC allegiance that Stephen sold nearly all of the shares he had bought across the multiple accounts in August 2019, on the day the Navigant acquisition was made public, and made a profit of over $227,000.

The complaint sought a permanent prohibition, disgorgement of ill-gotten profits, interest, penalty, and an officer and director bar against Stephen Buyer. Additionally, Buyer’s wife, Joni Lynn Buyer, who benefited when Buyer made illegal trades in her brokerage account, is being sued for disgorgement.

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Ethereum Merge Scheduled For September 15/16, ETH’s Price Skyrockets

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Ethereum Price

Ethereum is moving higher over today’s trading session and seems to be targeting previous levels about the $2,000 mark. The cryptocurrency soars as “The Merge” becomes imminent and backs the bullish sentiment across the market.

At the time of writing, ETH’s price trades at $1,900 with a 3% profit in the last 24 hours and a 17% profit over the past week. Ethereum is the best performing asset in the crypto top 10 by market cap recording bigger gains than Solana (14%), Polkadot (16%), and Bitcoin (7%).

ETH’s price with important gains on the 4-hour chart. Source: ETHUSDT Tradingview

The bullish momentum for Ethereum seems poised to extend. In a recent ETH core developers calls, “The Merge” mainnet release was tentatively scheduled for September 15 to 16 at epoch 144896.

This announcement comes at the heels of a successful implementation of “The Merge” on another main Ethereum testnet, Goerli. Called the final “dress rehearsal” for this major upcoming event that will combine Ethereum’s execution layer with its consensus layer.

In other words, Ethereum will finally complete its transition from a Proof-of-Work consensus to a Proof-of-Stake. This process will provide the blockchain will better performance, much lower transaction fees, scalability, and less energy consumption.

The potential for “The Merge” to attract new users and capital into the Ethereum ecosystem is one of the reasons why it’s perceived as bullish by the market. Data from Material Indicators (MI) indicates that almost every investor class has been buying into ETH’s price current price action.

This buying pressure is trending upwards and appears to be picking up momentum, over the past 12 hours as news about the tentative date for the mainnet release broke.

Ethereum Eth Ethusd Mi 2
ETH’s price has been bought by almost every investor class on low timeframes. Source: Material Indicators

Further data from Material Indicators records important ask liquidity above ETH’s price current levels. There are over $40 million in selling orders stack from $1,920 to $2,000. These orders will operate as critical resistance.

What “The Merge” Could Spell For The Price Of Ethereum

If Ethereum is able to break above those levels, the orderbook record almost no resistance to the upside. Thus, ETH’s price could reclaim previously lost territory and extend its climb.

However, MI records low buying pressure for ETH’s price on higher timeframes from large investors. Over the past two months, retail investors appear to be jumping into Ethereum’s price action.

Additional data provided by Jarvis Labs coincides that retail investors having been accumulating ETH. Larger investors need to begin accumulating to provide ETH’s price with an extended trend.

Jarvis Labs believes that this sustainable bullish price action might only be triggered if Bitcoin picks up momentum and follows the bullish trend. The price of the number one cryptocurrency has also been supported mainly by retail, but the research “would like to see a Q4 2020 repeat”.

At that time, retail was buying BTC and ETH and in Q4, whales took over and prices were able to reach new highs.

Bitcoin Ethereum Eth Ethusdt
In Q4 2020 whales (red dots on the chart) took over retail (green dots) and push BTC’s price into new highs, will history repeat? Source: Jarvis Labs via Twitter

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Eternal Bots in Zelysium: Fascinating Metaverse with Intriguing Storyline

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Eternal Bots In Zelysium: Fascinating Metaverse With Intriguing Storyline

Dubai,UAE, (August 11,2022) – Zelysium is one of the first universes that mark to be the epicenter of the inevitable greatness of the Metaverse. Zelysium has a massive storyline with seven chapters. The storyline is made as original webcomics, animated motion pictures based on the comics, and an immersive tell-a-tale game in the metaverse.

Metaverse is an evolving sector as of today, various entertainment products and services have been expanding within the boundless domain. The above-mentioned constituents in the Zelysium provide users with an exhilarating experience.

EternalBots : The Inception, the story starts in a futuristic timeline in 20 GY ( Galactic years). Eternal bots are in the middle of the war, stuck in a reverse timeline, and reach the earth. Then they meet Human Beings……… and from there story continues The EternalBots NFTs are the Genesis collection of 8888 unique 3D rendered NFTs categorized into eight clans based on the power source with over 150 traits.

EternalBots’ artwork is entirely 3D modelled and generated, ready for integration into the Metaverse and highly compatible. The holders will travel with these Bots in the Metaspace and will receive assistance, special privileges and premium features on the platform.

The original webcomics with animated motion pictures in the Zelysium bring out the WOW element. In addition, the storyline will depict the origins of Zelysium and the environment. The EternalBots NFT holders become part of Zelysium’s governance and the metaverse will have open access to the community.

The NFT holders become a part of Zelysium and will enable all access to the platform. In addition, the holders can enter the web app to access top-tier private deals/own governance vote/raffle contests and access the mystery box, liquidity pools and other web 3 features. 

We double the NFT utility with $ZEL token emission, where $ZEL is the native token for Zelysium Metaverse. Moreover, Zelysium provides boundless opportunities for the community beyond one’s wildest dreams to push the utilities even further.

About Zelysium

Zelysium strives to revolutionize the traditional entertainment, e-commerce and socializing industries in a massive immersive environment. Our metaverse brings limitless experiences to the users and the community by bridging the physical and virtual worlds together in a decentralized manner. Along, the platforms provide endless opportunities and incentives for the creators/users for participating in various activities, and daily contests, earning rewards for their efforts while having fun building and experiencing the metaverse.

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Contact Details:

Name: Andrew Athisayaraj E R

Contact Email: [email protected]

Country,City: Dubai, UAE

Disclaimer: This is a paid Press Release. Any information contained in this website is not proposed to be and doesn’t constitute financial advice, investment advice, trading advice, or any other advice. The NewsCrypto is not responsible to anyone for any decision made or action taken in conjunction with the information and/or statements in this press release.

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Billionaire Mark Cuban Sued by Voyager Digital Investors

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Billionaire Mark Cuban Sued By Voyager Digital Investors