SEC Hits Flyfish Club With Charges for Unregistered NFT Offering

The U.S. Securities and Exchange Commission (SEC) has charged Flyfish Club for conducting an unregistered offering of crypto asset securities through non-fungible tokens (NFTs), raising $14.8 million for an exclusive restaurant project. “Flyfish agreed to a cease-and-desist order, to pay a $750,000 civil penalty, and to comply with certain undertakings,” the regulator noted. SEC Charges … Read more

Consensys Inner Conflicts Spark Legal Action Against Founder

Ethereum cofounder Joseph Lubin was recently summoned to court in New York when a former employee initiated a lawsuit for more than $13 million. According to the summons stemming from former Token Foundry CEO, Harrison Hines, relief was being sought for alleged unpaid profits, fraud, unjust enrichment, and breach of contract. Also Read: Another Self-Proclaimed … Read more

Civil Fails to Raise $8M Minimum in ICO

Civil, a blockchain startup that has partnered with Forbes and The Associated Press, failed to reach the $8 million minimum target it set for its initial coin offering this week, suggesting an end to the days when promoters simply had to hint at collaborations with established companies to woo investors. Also Read: Nouriel Roubini Attacks … Read more