Shots Fired 💥 🔫 More SEC Lawsuits - Inflation Data Manipulation

The SEC is back to doing more fundraisers by filing lawsuits against Genesis and Gemini. Also HIVE Blockchain the mining outfit deployed 5,800 miners which I speculate will be unprofitable to run currently. A lot of mining outfits are gasping for breath and going bankrupt. I expect a lot of miners to sell this rip and stack in the dip. #crypto #blockchain #cryptocurrency #cardano #litecoin #bitcoin #dogecoin #ethereum #gemini #coinbase

In 2018, the SEC charged two initial coin offering (ICO) companies, PlexCoin and Munchee, with defrauding investors. The SEC alleged that PlexCoin had made false and misleading statements to investors, and had failed to register the offering with the SEC. Munchee, a company that had planned to create a blockchain-based food review service, was also charged with selling unregistered securities.

In 2019, the SEC filed charges against the founder and CEO of blockchain-based platform, Telegram, Pavel Durov, and his company TON Issuer Inc. The SEC alleged that Telegram had raised over $1.7 billion in an unregistered securities offering by selling the token “Grams” to investors.

In 2020, the SEC also filed charges against Ripple Labs Inc, the company behind the cryptocurrency XRP, for conducting a $1.3 billion unregistered securities offering. The SEC alleged that Ripple had sold XRP to investors in exchange for cash or other cryptocurrencies, and had failed to register the offering with the SEC.

In 2021, the SEC has also charged several companies and individuals for conducting illegal token sales, in violation of securities laws. These include companies like BitClave, Block.one, and Gladius Network LLC for conducting illegal unregistered securities offerings.

It's important to note that these are just a few examples of the many lawsuits that have been brought against blockchain and cryptocurrency companies by the SEC. The SEC has made it clear that it will continue to take action against companies that violate securities laws, and that investors should be cautious when considering investments in the blockchain and cryptocurrency space.

In general, SEC lawsuits involving blockchain companies tend to focus on companies that have conducted initial coin offerings (ICOs) without following proper registration procedures, or have made false and misleading statements to investors. It's important for companies in the blockchain and cryptocurrency space to be aware of and comply with securities laws to avoid legal action by the SEC.