I don't think that the CEO will fail in the case, i do believe that he will win for sure.
In every trading platform, there's a disclamer asking peoples to only invest what they can afford to lose, other disclamers might be different but has the same meaning, what's the CEO's issue in that?
Also, The E-Mail might have another meaning, there is no evidence that proves 100% that the CEO was playing with investors funds, the SEC have to put more efforts to grab something "REAL" for the peoples to believe in.
I will pray that this will be something equal to the Huawei Chaos that took place in the last weeks and this whole story might turn up to be a FREE AD to VERI that will make it soar. There's no good evidence here, so, let's follow the case
In every trading platform, there's a disclamer asking peoples to only invest what they can afford to lose, other disclamers might be different but has the same meaning, what's the CEO's issue in that?
Also, The E-Mail might have another meaning, there is no evidence that proves 100% that the CEO was playing with investors funds, the SEC have to put more efforts to grab something "REAL" for the peoples to believe in.
I will pray that this will be something equal to the Huawei Chaos that took place in the last weeks and this whole story might turn up to be a FREE AD to VERI that will make it soar. There's no good evidence here, so, let's follow the case
The whole case hinges on whether or not it is a utility token. If Reggie wins that argument the rest of the case falls apart. Reggie was very up front with and tried to work with the SEC at the time. I recall that he attempted to get "no action" letters and he took other measures to show good faith compliance efforts. In addition, he implemented KYC and AML on his platform from the beginning.
I think the SEC is going to have a hard time proving its case. Yes, they found a few examples of statements Reggie made which we don't know the context of that may or may not prove something, but he was always very careful in all of the videos and materials I saw to avoid making statements and claims like the ones in the complaint. By no means was it a pattern of behavior or conduct.
The SEC case is flimsy, but it takes a lot of money and lawyers to stand up to them. I hope he can be successful.