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Articles Tagged with cryptocurrencies

According to the Texas State Securities Board’s Enforcement Division, a four-week probe of investment offerings connected to virtual currencies has uncovered “widespread fraud.” The cryptocurrency fraud investigation took a look at investment offerings targeting investors in the state and which appeared to employ fraudulent and illegal solicitation tactics.

Of the 32 investigations conducted beginning on December 18th of last year:

  • None of the promoters examined were registered in Texas to sell securities in the state.

The US Securities and Exchange Commission has placed a temporary halt on trading in The Crypto Company (CRCQ) stock until January 3, 2018. The company’s stock has just seen a 2,700 percent rise in price. It recently agreed to purchase a German cryptocurrency data platform called Coin Tracking E. K.

Citing concerns regarding “accuracy and adequacy,” the SEC expressed concerns about the quality of information that was given to investors. The regulator also is looking into whether “potentially manipulative transactions” involving the stock took place last month.

The Crypto Co. provides digital assets, consulting services, and technologies to the “blockchain and cryptocurrency markets.” It doesn’t sell cryptocurrencies or other digital-type monies. The Crypto Co.’s stock price, at $3.50 a share in late September, rose to $575 earlier this week. As a result, The Crypto Co.’s stock value is now over $11B—that’s more than the market worth of some of the most renowned companies in the US, including Macy’s.

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