Cryptocurrencies
Investors in $1 Billion Crypto ‘Skyscraper’ Scheme to Get Repaid
- Texas, four other states settle with the project’s operators
- Regulators hope to refund 100% to investors in the project
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Texas and four other states have reached a settlement with operators of an alleged $1 billion illegal cryptocurrency investment scheme highlighted by tokenized partial ownership of a skyscraper, according to the Texas State Securities Board.
The regulators are hoping to return hundreds of millions of dollars to investors in the project who lost funds. The Texas State Securities Board announced the settlement with Josip Heit, the owner of GSB Group, and his companies, which sold products such as token-based ownership in a skyscraper, investments in the metaverse and a cryptocurrency that they claimed could be staked for rewards convertible into gold.