SEC Charges Podcasting Studio
The Commission has taken its first enforcement action involving an NFT project by charging a Los Angeles-based podcasting studio, Impact Theory, for conducting an unregistered offering of crypto asset securities.
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The company urged potential investors to consider purchasing a “Founders Key” as an investment in the business, asserting that these investors would gain profits from their purchases if Impact Theory achieved success.
The company, co-founded by Tom Bilyeu, who hosts a YouTube show and podcast, raised around $30 million from numerous investors.
Bilyeu’s popular YouTube channel, with over 3.7 million subscribers, has featured notable guests like Matthew McConaughey, David Goggins, Michael Saylor and others.
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