BitClave ICO Investors Receive $4.6M in SEC Settlement Distribution

Quick Summary:

Securities and Exchange Commission (SEC) has disbursed $4.6 million to investors affected by BitClave’s 2017 unregistered initial coin offering (ICO).

The payout follows a settlement reached in 2020, where BitClave agreed to repay the $25.

However, the SEC argued that the ICO was an unregistered securities offering, with the company inducing investment by suggesting that the CAT token would appreciate.

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Article Details

Author / Journalist: Sindhu

Category: Crypto

Markets: United Arab Emirates

Topics: SEC Market News BitClave Lawsuit

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-21 @ 07:32:45 (20 hours ago)

News Timezone: GMT +0:00

News Source URL: thenewscrypto.com

Language: English

Article Length: 331 words

Reading Time: 2 minutes read

Sentences: 30 lines

Sentence Length: 12 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © TheNewsCrypto

News ID: 23735109

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About TheNewsCrypto

Main Topics: Crypto

Official Website: thenewscrypto.com

Update Frequency: 47 posts per day

Year Established: 2020

Headquarters: United Arab Emirates

News Last Updated: 12 hours ago

Coverage Areas: United Arab Emirates

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Publisher ID: #125

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