Fantasy Bitcoin Stock Market Sand Hill Fined $20K By SEC
This report has been updated with a response to the SEC settlement from Sand Hill creator Gerrit Hall. The US Securities and Exchange Commission (SEC) has settled with Sand Hill Exchange, an experimental stock market that used bitcoin. Sand Hill, a Boost VC graduate that began operating late last year, agreed to pay a $20,000 settlement for alleged violations of US securities law, according to an SEC release. The founders of the site, the statement claims, did not admit to or deny the allegations but agreed to the SEC's cease-and-desist order. Sand Hill had pitched itself as an experiment,....
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Sand Hill, an experimental stock market using bitcoin, has been fined $20,000 by the Securities and Exchange Commission (SEC) for alleged violations of the US Security Law. The company is a Boost VC graduate which allows investors to purchase synthetic shares in unlisted Silicon Valley companies, similar to a fantasy sports version of the stock market. "An SEC investigation found that Silicon Valley-based Sand Hill Exchange was offering and selling security-based swaps contracts to retail investors outside the regulatory framework of a national securities exchange and without the required....
Analysis by Drew Hinkes of Berger Singerman LLP. On June 1, 2015, the Securities and Exchange Commission (SEC) shut down and fined Sand Hill Exchange for acting as unregistered broker-dealers, selling security-based swaps, and offering swaps on an unregistered securities exchange. Sand Hill was a bold experiment: Could a trading platform operated across the Bitcoin blockchain allow parties to trade derivatives based on the perceived value of pre-IPO companies? Although Sand Hill may have accomplished the construction of a functional derivatives market traded over the blockchain, the SEC....
Sand Hill Exchange, a venture allowing investors to bet against unlisted tech startups using the blockchain, has been fined US$20,000 by the US Securities and Exchanges Commission (SEC). The exchange, which had previously also used Bitcoin as an internal currency, confirmed it was under investigation and was reverting to a previous, free version of its service in a blog post, now deleted. The post added that developers had “mapped out technology infrastructure to decentralize the exchange,” which resulted in a subpoena requiring all documents to be handed over. “We reached a settlement....
PRESS RELEASE. TradeStars has launched “Olympic Torch”, the Mainnet of their Fantasy Sports Stock Trading Game, on 31st August, 2021.
TradeStars’ new Fantasy Sports Game allows users to trade Fantasy Stocks of world-class athletes, whose value is directly influenced by the real life performance statistics of the respective player. The Fantasy Stocks can be purchased using USDT for now; fiat payment gateways (for INR and USD) are on their way.
Fantasy Sports Gaming Today
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A new blockchain-based football prediction market, courtesy of Satoshi Fantasy, is likely to help fantasy football players gain information and insight in more accurate ways than ever before. With the new Trading. Football platform, developer Satoshi Fantasy has seemingly tapped into unique market intelligence directly influenced by the trading community that routinely makes projections on the fantasy results of players traded or owned. In a press release, the developer claims that the community's default structure of predicting weekly totals for over 500 NFL players along with trades that....