The U.S. SEC has concluded its civil enforcement case against Nader Al-Naji, founder of BitClout (later renamed DeSo). On March 12, both parties filed a joint agreement with the U.S. District Court for the Southern District of New York, agreeing to permanently close the case and prohibiting the SEC from refiling the same securities charges related to BitClout and its BTCLT token. The case was originally filed in July 2024, alleging that Al-Naji raised approximately $257 million through token sales and violated securities laws. (CoinDesk)
The U.S. SEC has concluded its civil enforcement case against Nader Al-Naji, founder of BitClout (later renamed DeSo). On March 12, both parties filed a joint agreement with the U.S. District Court for the Southern District of New York, agreeing to permanently close the case and prohibiting the SEC from refiling the same securities charges related to BitClout and its BTCLT token. The case was originally filed in July 2024, alleging that Al-Naji raised approximately $257 million through token sales and violated securities laws. (CoinDesk)