A Texas court confirmed that Ian Balina, a crypto influencer, violated US securities laws by selling SPRK tokens without registration.

Balina is accused of buying $5 million of SPRK and promoting it on social networks, organizing a 68-person investment group. The SEC claimed that Balina did not disclose receiving a 30% bonus from Sparkster to promote the token. The court concluded that SPRK is a security under the Howey Test criteria.