Satoshi Nakamoto Finally Revealed? | SEC Continues Its Crypto Assault

“What if the real reason for using the name Satoshi, for the anonymity, was so that people could take Bitcoin seriously, so they could believe it was created by [a famous cryptographer] and not some kid still in school,” Hoback said during the Money Electric: The Bitcoin Mystery documentary on HBO before putting his theory directly to Todd. For his part, Todd denied being the Bitcoin creator in the film, rejecting the case put forth by Hoback. “It’s ludicrous…This is going to be very funny when you put this into the documentary and a bunch of bitcoiners watch it.”

Unsurprisingly, Cullen Hoback thinks this matters very much. In an interview with CNN, the director points out that “Satoshi” continues to exert a huge degree of control, owning a million or so bitcoins. Given that there will only ever be 21 million bitcoins and that an estimated three to four million have been lost forever through lost wallets, “abandonments” and other causes, that’s an incredibly significant stake.

Rather than waiting for any formal action, Crypto.com filed a lawsuit against the SEC. The complaint seeks declaratory and injunctive relief to prevent what the company describes as an unlawful expansion of the SEC’s jurisdiction—led by its chair, Gary Gensler, to include secondary market sales of cryptographically secured digital assets. “We are doing this to protect the future of the crypto industry in the U.S., joining peers who are defending themselves and taking action against a misguided federal agency acting beyond its authority under the law.”

In addition, the regulator sued Cumberland DRW for failing to register as a broker dealer while it offered and sold more than $2 billion in crypto assets as securities. However, the market maker denied the claims, writing in a post on X, “We are not making any changes to our business operations or the assets in which we provide liquidity as a result of this action by the SEC. We are confident in our strong compliance framework and disciplined adherence to all known rules and regulations–even as they have been a moving target (it wasn’t long ago ETH was claimed to be a security)."