The U.S. Securities and Exchange Commission (SEC) has charged three cryptocurrency trading platforms and four investment clubs with defrauding investors of $14 million. According to SEC official Laura Daley, the accused entities allegedly used fake investment clubs and non-existent apps to deceive retail investors. In a related development, SEC filings mentioning blockchain reached 8,000 by August 2025, marking a significant increase. This surge is attributed to a rise in Bitcoin-related cases, driven by a wave of spot Bitcoin ETF applications submitted in early 2024.