The SEC has charged an a16z and Sequoia-backed crypto startup founder with fraud 

Quick Summary:

The founder of once-hyped crypto startup BitClout is facing trouble.

Lee Hsien Loong, the former Prime Minister of Singapore, even made a public plea asking for his BitClout profile to be removed.“It is misleading and done without my permission,” he wrote on Facebook.

In 2021 when it was launched, BitClout was intended to be a social crypto-exchange where users bought and sold tokens based on people’s reputations.

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Article Details

Author / Journalist: Margaux MacColl

Category: Technology

Markets: United StatesEgyptSouth KoreaSingaporeSpain

Topics: A16z crypto Winklevoss capital Securities and Exchange Commission A16z Crypto Startups Sequoia Partners Venture

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-30 @ 19:56:10 (10 hours ago)

News Timezone: GMT -5:00

News Source URL: techcrunch.com

Language: English

Article Length: 1465 words

Reading Time: 9 minutes read

Sentences: 71 lines

Sentence Length: 21 words per sentence (average)

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

Copyright Owner: © TechCrunch

News ID: 21861599

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