EddieJayonCrypto

 15 Jul 24

tl;dr

The Securities and Exchange Commission (SEC) has filed a litigation against Consensys, clarifying that several prominent cryptocurrencies, including Terra Luna Classic (LUNA), Polygon (MATIC), The Sandbox (SAND), Chiliz (CHZ), and Decentrland (MANA), are considered securities. The SEC contends that ...

SEC Clarifies Stance on Cryptocurrencies

The Securities and Exchange Commission (SEC) has filed a litigation against Consensys, clarifying that several prominent cryptocurrencies, including Terra Luna Classic (LUNA), Polygon (MATIC), The Sandbox (SAND), Chiliz (CHZ), and Decentrland (MANA), are considered securities. The SEC contends that these digital assets were initially offered and sold as investment contracts, falling under the regulatory purview of securities laws. The SEC argues that the tokens were marketed with promises of future profits and were influenced by public statements, marketing materials, and operational strategies. The SEC specifically highlights MATIC, MANA, CHZ, SAND, and LUNA, providing details on how each token was marketed as an investment vehicle, leading to the classification as securities.

One of the tokens in question is MATIC, the native token of Polygon, an Ethereum scaling blockchain platform. Moreover, Polygon positions MATIC as essential for network transactions and governance, incentivizing holders through staking mechanisms and other economic activities. Hence, the SEC contends that since its inception, MATIC has been marketed and sold as an investment vehicle. It mentions that investors expect an increase in MATIC value driven by Polygon’s ongoing development and expansion efforts. They highlighted the details on MATIC’s whitepaper to prove their point.

Similarly, MANA, the digital currency of Decentraland, a virtual reality platform on Ethereum, has been categorized as a security by the SEC. MANA facilitates transactions within the Decentraland ecosystem and grants holders rights to participate in governance and content creation. The SEC pinpointed the sale of MANA tokens during its ICO and subsequent trading activities on platforms like MetaMask Swaps. Moreover, the agency noted that these activities were conducted with the implicit understanding of potential profit from Decentraland’s platform growth and adoption.

Another token under scrutiny is CHZ, the utility token for Chiliz. It is used on the Socios platform for fan engagement in sports and entertainment. CHZ enables fans to purchase and influence decisions in their favorite teams through voting rights and rewards programs. The SEC alleges that CHZ was promoted as an investment opportunity. It highlighted funds were raised explicitly earmarked for platform development, user acquisition, and marketing efforts. These factors all contributed to potential increases in CHZ’s value.

SAND, the token of The Sandbox, a virtual gaming platform powered by blockchain, is also highlighted in the SEC’s litigation. The SEC argues that SAND’s initial offering portrayed it as an investment vehicle. Hence, it is subject to securities regulations due to the expected returns tied to the platform’s success.

Lastly, Terra Luna Classic (LUNA), the native token of Terra, is included in the SEC’s classification as a security. LUNA facilitates stablecoin transactions and platform governance within Terra’s ecosystem. The SEC asserts that Terra Luna Classic’s issuance and trading involved expectations of profit. These expectations were based on Terraform’s development efforts and market adoption of Terra’s stablecoin solutions.

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Industry: ENERGY & TRANSPORTATION

Sector: AIRPORTS, FLYING FIELDS & AIRPORT TERMINAL SERVICES

NAICS code: 8427010000

Current stock price: $15.72

Price change: $0.00

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Market cap: $4.558 billion

EPS: $0.288

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P/E ratio: 185.31

Dividend yield: -0.036

Beta: 0.019

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Interlink Electronics Inc Summary

Interlink Electronics, Inc. designs, develops, manufactures, and sells force sensing technologies that incorporate proprietary material technology, firmware, and software into standard sensor-based products and custom sensor system solutions. The company is headquartered in Irvine, California.

Industry: TECHNOLOGY

Sector: COMPUTER PERIPHERAL EQUIPMENT

Symbol: NEC

CIK: 38751300

EPS: -0.14

P/E Ratio: 1.396

Profit Margin: -0.0677

Market Cap: 13786000

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TRADE & SERVICES

SERVICES-COMMERCIAL PHYSICAL & BIOLOGICAL RESEARCH

Market Cap: 102.703B

Dividend Yield: None

EPS: -0.03

Shares Outstanding: 3.487M

Beta: -0.0182

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P/E Ratio: 9.13

Forward P/E (1y): -0.676

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More about Sandstorm Gold Ltd N

Company: Sandstorm Gold Ltd

Description: Sandstorm Gold Ltd. is a gold royalty company. The company is headquartered in Vancouver, Canada.

Industry: ENERGY & TRANSPORTATION

Sector: GOLD AND SILVER ORES

Market Cap: 1713649000

PE Ratio: 71.88

EPS: 0.061

EBITDA: 0.08

Profit Margin: 0.601

ROE: 0.122

Revenue: 178468000

Debt to Equity: 7.92

Quick Ratio: -0.966

Current Ratio: -0.027

Disclaimer

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