According to Odaily, the Securities and Exchange Commission (SEC) has won a lawsuit against cryptocurrency influencer Ian Balina. The court ruled that Balina violated securities laws during his participation in a cryptocurrency token Initial Coin Offering (ICO) in 2018. After purchasing Sparkster (SPRK) tokens, Balina offered them to investors in the United States within his investment pool. This action was deemed as the sale of unregistered securities.