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SEC Orders Tierion To Refund Investors Of $25 Million ICO

Tracy CHEN

Summary: The US Securities and Exchange Commission (SEC) has busted yet another initial coin offering (ICO), this time Tierion for issuing TNT tokens, for violations of securities law. The regulator issued a cease and desist order against the blockchain company and ordered it to refund all tokens to investors. The data verification startup raised $25 million ...

The US Securities and Exchange Commission (SEC) has busted yet another initial coin offering (ICO), this time Tierion for issuing TNT tokens, for violations of securities law.

The regulator issued a cease and desist order against the blockchain company and ordered it to refund all tokens to investors. The data verification startup raised $25 million in July 2017 by selling 350 million TNT tokens.

Additionally, the company was fined $250,000 and have to disable trading of its tokens on the secondary market.

Tracy Chen

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