Summary: Unikrn Inc. has reached a $6.1 million dollar settlement deal with the U.S. Securities and Exchange Commission for an unregistered initial coin offering, according to a Tuesday announcement from the regulatory body. The funds will be distributed to investors without the company having to accept or deny guilt. Unikrn will also permanently disable its token, ...

Unikrn Inc. has reached a $6.1 million dollar settlement deal with the U.S. Securities and Exchange Commission for an unregistered initial coin offering, according to a Tuesday announcement from the regulatory body.

The funds will be distributed to investors without the company having to accept or deny guilt. Unikrn will also permanently disable its token, UKG, within ten days of the order.

The company managed to raise $31 million in a 2017 ICO, drawing in flashy investors including Mark Cuban. The token was meant to help create a betting platform for online games.

By Emily Mason