DeFi lending platform Rari Capital settles with the SEC over unregistered securities and brokerage services

avatar
Wu Blockchain
16 hours ago
This article is machine translated
Show original
The U.S. SEC announced a settlement of charges with DeFi lending protocol Rari Capital and its co-founders Jai Bhavnani, Jack Lipstone, and David Lucid. The SEC accused them of misleading investors and engaging in unregistered brokerage activities while operating two blockchain-based investment platforms, which held more than $1 billion worth of crypto assets at their peak. As part of the settlement, Rari's co-founders agreed to pay fines and were banned from serving as executives and directors for five years, but these bans must be approved by the court.

Source
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
Like
Add to Favorites
Comments