SEC issues subpoenas to crypto funds, TechCrunch's first founder

One of the representatives of the cryptocurrency industry, who came under a large-scale investigation of the us securities and exchange Commission (SEC) in relation to the ICO sphere, was the founder of the TechCrunch online publication Michael Arrington.
Receipt of the agenda with the invitation "to talk" Michael Arrington confirmed in comments CNBC.

"We received the summons. All cryptoforge, with whom I spoke, also received subpoenas. Everything's normal. They just [SEC] have to decide what they want. They should establish rules that we could follow, and the market simply begs them about it, " he said.
In November last year, Arrington announced the launch of a hedge Fund Arrington XRP Capital, which intended to raise $100 million in addition, he invested in several projects, including the developer of the decentralized Internet browser Blockstack, and also acted as adviser to the real estate marketplace Propy.



Arrington himself, however, clarified the situation by writing that he received the agenda as a private person, and we are talking about the company in which he invested last summer. At the same time, the entrepreneur says, he never publicly did not mention it.


Michael Arrington? @arrington
Clarification on this article - I received this as an individual, for a deal I invested in last summer, and as far as I'm aware I've never publicly perceived the company. It's annoying but it's not nearly as insane as this article specifications. https://twitter.com/chengevelyn/status/969688340210515968 …
"It's all annoying, but not nearly as insane as this article tries to present," Arrington added, citing CNBC news, which States that the agenda was sent to Arrington XRP Capital.

In February, Michael Arrington broke a series of critical tweets to the address of the SEC, but later had them removed. Screenshots of his statements, however, have survived.



On 1 March it became known about the large-scale SEC investigation against members of the ICO industry. The Agency considers tokens as securities and believes that many organizations that have completed the initial offer of coins have violated Federal law.

It is known that under investigation were about 80 companies and individuals. the First who confirmed the receipt of the summons, were representatives of the company Overstock Patrick Byrne, who currently holds the ICO project tZero.
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