🚨 Crypto News Flash! 🚨

The SEC has charged Florida-based Galois Capital with serious compliance failures and investor misrepresentation. Key points:

- Galois Capital failed to follow the Custody Rule, holding crypto assets on platforms like FTX, not deemed qualified custodians by the SEC.

- This led to significant losses, especially during FTX's collapse in Nov 2022.

- Misleading redemption policies further misinformed investors.

- Galois Capital has settled with a $225,000 penalty and agreed to cease further violations.

💬 What are your thoughts on SEC's actions? Comment below!