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How crypto businesses are reacting to SEC’s ‘subpoenas’
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While the market has been gaining momentum, the United States Securities and Exchange Commission is lining up several cryptocurrency-associated businesses. In this latest update, the regulatory body issued another subpoena to a crypto mining company, Marathon Digital Holdings Inc. This resulted in its shares tumbling by 27%, as per reports.
The subpoena was in relation to a partnership between Marathon and a Montana data facility. The mining company revealed about the summons in its quarterly filing and noted that the regulators may investigate whether its partnership with Beowulf was in violation of securities law. Analysts at DA Davidson & Co., Chris Brendler noted it is “never a good news for the SEC following up.” He added,
“Worst case,
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