![]() ![]() The SEC further alleged that Balina received $5M to promote the token. According to the SEC, Balina will persist in his acts of violations if a court does not legally restrict him. ![]() Review of: Skrumble Network - With Skrumble Network, we’re currently in the process of building a completely decentralized social media communication application. The ICO trading price will be 1 SKM 0.010461 USD. ![]() The SEC mentioned that Balina’s acts of promotion of SPRK violated several provisions of the Securities Act of 1933. The average rating for the ICO is 2.9 and start date is 28 April 2018. The SEC demands that the crypto influencer disgorge all gains gotten from SPRK The watchdog alleged that Balina failed to reveal the remuneration he received for his promotion of the asset. Four years later, the SEC brings up a case against Balina. Securities and Exchange Commission charged crypto investor and YouTuber Ian Balina over his involved in an unregistered initial coin offering (ICO). This is considering his influence in the space then. Notwithstanding, the token crashed by over 90%, resulting in millions in losses.īalina was at the receiving end of the heat from aggrieved investors following the crash. Skrumble Network raises 19.96 million Toronto-based Skrumble Network, which aims to create secure connections for communication, raised 19.96 million (15 million USD) Betakit By Amira Zubairi Several Canadian FinTechs have made announcements on the growth of their companies, launching new features and partnerships. Several investors jumped on the SPRK train following Ian Balina’s aggressive promotion of the asset. An impenetrable network layer to connect securely without having to worry about personal info being compromised. Thing is some would attribute Ian’s success to luck. Ian was able to profit a cool 4 million in one month Remember he was at it for about a year and all that work paid off big time. Skrumble Network provides global access to a secure communication system that enables user privacy and data ownership, all in one place. The crypto entity amassed a whopping $30M in its initial coin offering (ICO) in 2018. Ian hit his first mill this past December and it didn’t stop there. SPRK is the native token of the blockchain cloud network Sparkster. According to the complaint, the SEC accuses Balina of offering and promoting SPRK tokens which it classifies as securities in 2018 without prior registration. This is the latest in a long line of SEC suits over ICOs undertaken after the publication of the 2017 DAO report. The Securities and Exchange Commission filed the complaint in a United States District Court for the Western District of Texas on Monday. On Monday, September 19th, the Securities Exchange Commission filed a complaint against Ian Ballina, a prominent crypto influencer, over an unregistered initial coin offering from 2018. The lawsuit alleges that Ian Balina promoted an unregistered security ![]()
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