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The US Securities and Exchange Commission (SEC) has recently announced that it has charged Justin Sun, a prominent crypto entrepreneur, and his three companies- Tron Foundation, BitTorrent, and Rainberry Inc, with allegedly conducting an unregistered sale of “crypto assets securities.” 
The SEC alleges that Sun and his companies offered and sold Tronix (TRX) and BitTorrent (BTT) tokens to the public without registering these tokens as securities, following the regulatory agency’s crackdown on the crypto industry. 

Lindsay Lohan And Celebrities Involved In SEC Case Against Crypto
In addition to the charges of unregistered offering and sale of crypto asset “securities” TRX and BTT, the SEC has also accused Justin Sun and his companies of alleged fraudulent activities related to TRX.
The SEC alleges that Sun and his companies engaged in extensive wash trading to “fraudulently manipulate” the secondary market for TRX. These allegations of wash trading involve the simultaneous buying and selling of the same crypto asset to make it appear that there is more trading activity than there is. 
The regulatory agency has also accused Sun and his companies of incentivizing celebrities to promote TRX and BTT without disclosing their compensation. 

The celebrities named in the charges are Lindsay Lohan, Jake Paul, DeAndre Cortez Way (Soulja Boy), Austin Mahone, Michele Mason (Kendra Lust), Miles Parks McCollum (Lil Yachty), Shaffer Smith (Ne-Yo), and Aliaune Thiam (Akon).
Another Crypto “Big Fish” On The SEC’s Radar
The SEC’s complaint alleges that Sun and his companies offered and sold TRX and BTT tokens as investments through multiple unregistered “bounty programs.” These programs allegedly directed interested parties to promote the tokens on social media, recruit others to its Tron-affiliated Telegram and Discord channel, and create BitTorrent accounts in exchange for TRX and BTT distributions. 
The SEC alleges that these bounty programs did not provide investors with accurate and complete information and did without disclosing the risks associated with these investments. Additionally, Sun is charged with violating anti-fraud and market manipulation provisions of the federal securities law by allegedly orchestrating a scheme to “artificially” inflate the apparent trading volume of Tronix. 
The SEC alleges that from April 2018 to February 2019, Sun directed his employees to engage in over 600,000 wash trades of TRX between two crypto assets trading platforms accounts he controlled, with between $4 million and $7 million TRX wash traded daily. The SEC Chair Gary Gensler stated:
As alleged in the complaint, Sun and others used an age-old playbook to mislead and harm investors by first offering securities without complying with registration and disclosure requirements and then manipulating the market for those very securities. At the same time, Sun paid celebrities with millions of social media followers to tout the unregistered offerings, while specifically directing that they not disclose their compensation. This is the very conduct that the federal securities laws were designed to protect against regardless of the labels Sun and others used
According to the SEC, all celebrities except DeAndre Cortez Way (Soulja Boy) and Austin Mahone agreed to settle the charges by paying more than $4,000,000 in disgorgement, interest, and penalties after the charges were filed.



Featured image from Unsplash, chart from TradingView.com


The US Securities and Exchange Commission (SEC) has recently announced that it has charged Justin Sun, a prominent crypto entrepreneur, and his three companies- Tron Foundation, BitTorrent, and Rainberry Inc, with allegedly conducting an unregistered sale of &#8220;crypto assets securities.&#8221...

bitcoinist.com

SEC Accuses Crypto Giant Justin Sun And Lindsay Lohan Of Securities Law Violation


February 28, 2023 – Singapore, Singapore


Huobi, a virtual asset trading platform, announced to join the BTTC (BitTorrent Chain) ecosystem and to support the development of a layer two network based on BTTC. The goal is to promote an on-chain open financial system.

BTTC, the layer two solution for Ethereum, TRON and BNB Chain, was launched in December 2021 with ZK (zero proof of knowledge) technology to be introduced later this year.
This enables users to build decentralized applications anywhere and provides a secure, low-cost and fast development environment for DApps – thus creating an on-chain open ecosystem.
At its core, BTTC is a cross-chain solution that enables seamless asset exchange through digital asset connectivity of mainstream public chains such as Ethereum, TRON and BNB Chain, spanning a super network linking all blockchains.
The addition of Huobi to the BTTC ecosystem will further promote the development and usage of decentralized applications on-chain and enhance the exchange’s own ecosystem.
Huobi has over 50 million users across the globe with over $100 trillion in cumulative assets traded. The exchange enables blockchain developers to serve a great number of verified users and connect voluminous digital assets worldwide.
According to a report released by Huobi Research Institute at the end of 2022, global crypto users have reached 320 million. Huobi has the capacity to provide virtual asset trading services to hundreds of millions or even billions of users worldwide through the BTTC layer two.
H.E. Justin Sun, member of the Huobi global advisory board, said,
“Huobi joining the BTTC ecosystem reflects the industry’s latest focus on layer two developments and also demonstrates the pioneering status of BTTC among its peers in the field of building a complete and pragmatic layer two cross-chain network structure and platform.”
By supporting the layer two network developments of mainstream public chains including Ethereum and TRON, Huobi provides an open, secure and diverse environment for all relevant developer teams. As such, users of the Huobi trading platform also enjoy first-hand access to the best quality projects.
In November 2022, Huobi completed its brand upgrade, launching a new growth strategy.
The exchange seeks to promote responsible use of crypto for a wide range of users, and educate more people about everyday crypto adoption by introducing them to an ever-changing network of quality digital assets, ensuring the free flow of value created by each individual as a global citizen.
Huobi values the voice of its community and creates every opportunity for users to participate in the early stages of quality projects. The addition of the BTTC layer two ecosystem will certainly create new synergies that in turn nurture further growth of Huobi.
About Huobi
Founded in 2013, Huobi has evolved from a crypto exchange into a comprehensive ecosystem of blockchain businesses that span digital asset trading, financial derivatives, wallets, research, investments, incubation and other areas. Huobi serves millions of users across international markets.
Please refer to Huobi’s official website here for more information.
Contact
Michael Wang, Huobi
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The post Huobi To Join BitTorrent Chain’s Layer Two Ecosystem appeared first on The Daily Hodl.


February 28, 2023 – Singapore, Singapore Huobi, a virtual asset trading platform, announced to join the BTTC (BitTorrent Chain) ecosystem and to support the development of a layer two network based on BTTC. The goal is to promote an on-chain open financial system. BTTC, the layer two solution for...

dailyhodl.com

Huobi To Join BitTorrent Chain’s Layer Two Ecosystem

[PRESS RELEASE – Singapore, Singapore, 28th February 2023]
Huobi, a virtual asset trading platform, announced joining the BTTC (BitTorrent Chain) ecosystem to support the development of a layer 2 network based on BTTC. The goal is to promote an on-chain open financial system.
BTTC, the L2 solution for Ethereum, TRON and BNB Chain, was launched in December 2021 with ZK (Zero Proof of Knowledge) technology to be introduced later this year. This enables users to build decentralized applications anywhere and provides a secure, low-cost, and fast development environment for dApps, thus creating an on-chain open ecosystem.
At its core, BTTC is a cross-chain solution that enables seamless asset exchange through digital asset connectivity of mainstream public chains such as Ethereum, TRON and BNB Chain, spanning a super network linking all blockchains.
The addition of Huobi to the BTTC ecosystem will further promote the development and usage of decentralized applications onchain and enhance the exchange’s own ecosystem. Huobi has over 50 million users across the globe with over $100 trillion in cumulative assets traded. The exchange enables blockchain developers to serve a great number of verified users and connect voluminous digital assets worldwide. According to a report released by Huobi Research Institute at the end of 2022, global crypto users have reached 320 million. Huobi has the capacity to provide virtual asset trading services to hundreds of millions or even billions of users worldwide through the BTTC L2.
As a member of the Huobi global advisory board, H.E. Justin Sun commented,
“Huobi joining the BTTC ecosystem reflects the industry’s latest focus on L2 developments and also demonstrates the pioneering status of BTTC among its peers in the field of building a complete and pragmatic layer 2 cross-chain network structure and platform.”
By supporting the L2 network developments of mainstream public chains including Ethereum and TRON, Huobi provides an open, secure and diverse environment for all relevant developer teams. As such, users of the Huobi trading platform also enjoy first-hand access to the best quality projects.
In November 2022, Huobi completed its brand upgrade, launching a new growth strategy. The exchange seeks to promote responsible use of crypto for a wide range of users, and educate more people about everyday crypto adoption by introducing them to an ever-changing network of quality digital assets, ensuring the free flow of value created by each individual as a global citizen. Huobi values the voice of its community and creates every opportunity for users to participate in the early stages of quality projects. The addition of the BTTC L2 ecosystem will certainly create new synergies that in turn nurture further growth of Huobi.
About Huobi
Founded in 2013, Huobi has evolved from a crypto exchange into a comprehensive ecosystem of blockchain businesses that span digital asset trading, financial derivatives, wallets, research, investments, incubation and other areas. Huobi serves millions of users across international markets. Please refer to Huobi’s official website for more information: www.huobi.com
The post Huobi to Join BitTorrent Chain’s L2 Ecosystem appeared first on CryptoPotato.

[PRESS RELEASE &#8211; Singapore, Singapore, 28th February 2023] Huobi, a virtual asset trading platform, announced joining the BTTC (BitTorrent Chain) ecosystem to support the development of a layer 2 network based on BTTC. The goal is to promote an on-chain open financial system. BTTC, the L2 s...

BitTorrent price	$0.000001
Low - High 24H	$0.000001 - $0.000001
Market cap	$577.57M
Volume 24H	$11.25M
All time high	$0.000003 -82.07% January 21st 2022
All time low	$0.000001 4.43% March 11th 2023
Genesis date	N/A

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