LA media company settles first SEC enforcement case over NFTs

  • 📰 SaltWire Network
  • ⏱ Reading Time:
  • 17 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 63%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

By Jonathan Stempel NEW YORK (Reuters) - A Los Angeles media company that billed itself as potentially

SaltWire's Atlantic regional weather forecast for August 28, 2023 | SaltWireNEW YORK - A Los Angeles media company that billed itself as potentially"the next Disney" will pay $6.1 million to settle U.S. Securities and Exchange Commission charges it illegally raised nearly $30 million by conducting unregistered sales of non-fungible tokens.

Impact Theory allegedly raised $29.9 million by selling 13,921 Founder's Keys in late 2021, and received $978,000 of royalties from secondary sales. The SEC said Impact Theory also compared its NFTs with"handing to Mark Zuckerberg in his dorm room," referring to the billionaire Facebook co-founder.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 45. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

SEC probes Change Company over mortgage-backed securities sold to Wall Street(Reuters) - The US Securities and Exchange Commission (SEC) is probing The Change Company, a California lender that pledges to promote homeownership in ...
Source: SaltWire Network - 🏆 45. / 63 Read more »