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Crypto Researcher Didn’t Disclose ICO Incentives, SEC Says

  • Ian Balina promoted SPRK token on social media platforms
  • Defense lawyer has said allegations against Balina ‘unfounded’
Updated on

The founder of a cryptocurrency investment research firm was accused by the SEC of promoting an initial coin offering without disclosing that he had been given incentives to do so.

Ian Balina, 33, promoted the SPRK token on social media platforms including YouTube and Telegram without revealing that he had been compensated by the company that offered it, the Securities and Exchange Commission said in a suit filed Monday in federal court in Austin, Texas.