According to a report by Fortune magazine, the U.S. Securities and Exchange Commission (SEC) recently issued a Wells Notice to the cryptocurrency investment company Unicoin, accusing it of fraud, misconduct, and unregistered securities issuance. Unicoin CEO Alex Konanykhin revealed that the company has sold approximately $3.5 billion worth of tokens, with about 70,000 investors, and its tokens are backed by physical assets such as 8,000 acres of land in the Bahamas. Unicoin must respond by December 24, and the company has stated that it will choose legal confrontation rather than settlement.