NY Forces Uphold to Pay $5M Over Fraudulent Crypto Product

NYAG Hits Uphold with $5M Penalty

Key Takeaways The era of unchecked “yield” products continues to face a harsh reckoning. New York Attorney General Letitia James has successfully secured a $5 ...

Uphold Fined $5M Over Fraudulent Crypto Scheme Promoted in NY

Uphold will pay $5M after promoting CredEarn, a fraudulent crypto product. New York AG Letitia James continues her crackdown on deceptive practices. (Read More)

NY Forces Uphold to Pay $5M Over Fraudulent Crypto Product - Invest In Crypto News

New York Attorney General Letitia James has secured more than $5 million from cryptocurrency platform Uphold over its role in promoting a fraudulent investment product. The settlement centers around Uphold’s promotion of CredEarn, a product offered by Cred, LLC and its CEO Daniel Schatt. Between January 2019 and October 2020, the platform marketed CredEarn to users on its platform and mobile app as a safe, reliable savings product with attractiv…

Uphold Settlement: $5M Fine in Landmark Crypto Regulation Case Shocks Industry

BitcoinWorld Uphold Settlement: $5M Fine in Landmark Crypto Regulation Case Shocks Industry New York prosecutors have reached a $5 million settlement with cryptocurrency platform Uphold. This marks the state’s first enforcement action related to crypto interest-bearing products. The New York Attorne...

CoinStats - Uphold Settlement: $5M Fine in Landmark Crypt...

BitcoinWorld Uphold Settlement: $5M Fine in Landmark Crypto Regulation Case Shocks Industry New York prosecutors have reached a $5 million settlement with cryptocurrency platform Uphold. This marks the state’s first enforcement action related to crypto interest-bearing products. The New York Attorney General Letitia James announced the agreement on Tuesday. The case centers on Uphold’s promotion of a third-party product called CredEarn. Uphold S…

Crypto Platform Uphold Faces $5M Blow From New York Regulators

Uphold will hand over more than $5 million to customers it helped deceive — a payout that amounts to over five times what the company actually earned from the deal. A Settlement With Real Teeth New York Attorney General Letitia James announced the settlement this week, closing the book on Uphold’s role in promoting CredEarn, a crypto savings product run by Cred, LLC and its CEO Daniel Schatt. From January 2019 through October 2020, Uphold pushed…