Here's the
actual judgment.It appears to gut Veritaseum, taking 'Frozen Bank Assets' and 'Frozen Metals' to the value of the judgment. This would presumably lead to Veri defaulting on existing contracts.
IANAL but it's difficult to see how there's any future for Reggie in the digital asset world, given his permanent disbarment from "engaging in any offering of digital securities."
I think the key there is "securities." Reggie can still issue utility tokens. Obv there's a fine line and he'd have to be very careful to walk that line. He's always maintained VERI to be a utility token, so perhaps he could re-issue VERI in a different and fully compliant way.
The Fair Fund is for reimbursement of losses suffered by "harmed investors" due to Reggie's admitted fraudulent behavior, not just for a blanket refund. Maybe someone who FOMO'd @ $90 will qualify, seeing as it's been agreed in the settlement that he manipulated the price.
As for "current prices", I don't see too many buy walls on Mercatox.
I guess we'll see, but rough math at $9M and 2M tokens outstanding is only $4.5/token.
Maybe no buy walls on Mercatox but strangely, no stampede to liquidate either. Kind of blows my mind. VERI price plunged to $6 after announcement of the SEC action and has mostly recovered. Strange it has not moved.
Perhaps, but Occam's Razor says he's f*cked.
I could argue the opposite. Now he's free of threat of prosecution. He's made a lot of connections and formed a lot of relationships. He had a lot going on with Africa and their exchanges and gold. He could entirely shut down the VERI operations and start anew in Africa with his project(s) there and probably do quite well.