Titan agreed to a cease-and-desist and will pay an $850,000 civil penalty that will go to affected customers.
The SEC alleges that Titan misrepresented performance metrics in advertisements and failed to disclose how it custodied crypto assets, among other violations.Stay updated on Pro Crypto Ecosystems news by locking ACS tokens with The Block.No wallet? No problem. You can set one up for free. We recommend Torus for first-time users.
The SEC alleges that Titan used misleading hypothetical performance metrics in advertisements — including purported"annualized" performance results of up to 2,700% for the the Titan Crypto strategy, according to aFurthermore, Titan allegedly failed to properly disclose how the firm custodied crypto assets, in addition to failing"to adopt policies and procedures concerning employee personal trading in crypto assets.
Titan cooperated with the SEC's investigation and agreed to a cease-and-desist order. The firm will pay over $192,000 in disgorgement as well as a civil penalty of $850,000 that will go to affected customers. © 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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