Chamath Palihapitiya-Backed Altcoin Collapses After SEC Charges Co-Founder With Fraud

Federal securities regulators are suing the founder of the social media project BitClout, now known as Decentralized Social (DeSo). In its complaint, the U.S. Securities and Exchange Commission (SEC) alleges that since November 2020, Nader Al-Naji raised more than $257 million from unregistered offers and sales of the platform’s token, BTCLT. The regulator says that […] source: https://dailyhodl.com/2024/08/01/chamath-palihapitiya-backed-altcoin-collapses-after-sec-charges-co-founder-with-fraud/