[U: Counsel Appearances] Many Of The SEC (Civil) Charged Defendants Are Settling — Others Are Discussing It. “Womp-Womp!” — For Barry Honig.

Overnight, some big news on the SEC’s charges in Manhattan federal district court broke.

But the news, as it were, “broke” — by dint of a buried line or three, in the third paragraph of a relatively ordinary scheduling letter.

Always a good idea — to read the full PACER docket attachments. We should see press releases, out of the SEC, from the settling defendants — maybe even before Christmas. [This is going to delay the amended SEC complaint a bit — with the likely new charges — by a month (to February 8, 2019), as well.]

Were I a betting man, the various defendants settling are (I bet) offering to testify against Honig and likely Frost — the two likely masterminds, in return for immunity (or smaller fines and limited term debarments).

Though it also might well be that many are “flipping” on Mr. O’Rourke as well — as he is inside almost every “pump and dump” scheme alleged by the SEC in its complaint.

We shall see. Onward. But this is likely why Riot is falling, even as bitcoin continues a modest spot prices rally, this morning. [Update: Separately, in Manhattan, in the temporarily-stayed putative federal shareholders’ derivative claims, against Riot, and Mr. O’Rourke and others, personally, Mr. Douglas Flaum of the venerable Paul Hastings firm’s NYC office has entered an appearance for all of them. Pop the popcorn, folks.]

Onward — to pick up airport holiday arrivals!