🚀Crypto influencer Ian Balina has been found guilty by a Te

--・22 views

🚀Crypto influencer Ian Balina has been found guilty by a Texas court of selling unregistered securities, namely Sparkster (SPRK) tokens, to US investors. The court ruled that Balina's actions fall under US securities laws and that SPRK tokens are indeed securities.👨‍⚖️ The SEC had also claimed that Balina didn't disclose a compensation agreement with Sparkster CEO Sajjad Daya, but the court found inconsistencies in this claim. Sparkster, which touted itself as a "low-code" blockchain app development platform, conducted its SPRK token ICO in 2018. In 2022, it agreed to destroy remaining SPRK tokens and pay a hefty fine, without admitting to the SEC's claims. What's your take on this? Let's chat in the comments! 💬👇

🚀Crypto influencer Ian Balina has been found guilty by a Texas court of selling unregistered securities, namely Sparkster (SPRK) tokens, to US investors. The court ruled that Balina's actions fall under US securities laws and that SPRK tokens are indeed securities.👨‍⚖️
The SEC had also claimed that Balina didn't disclose a compensation agreement with Sparkster CEO Sajjad Daya, but the court found inconsistencies in this claim. 
Sparkster, which touted itself as a "low-code" blockchain app development platform, conducted its SPRK token ICO in 2018. In 2022, it agreed to destroy remaining SPRK tokens and pay a hefty fine, without admitting to the SEC's claims. 
What's your take on this? Let's chat in the comments! 💬👇

Disclaimer: Includes thrid-party opinions. No financial advice. May include sponsored content. See T&Cs.