SEC Charges So-Called DeFi Company for Allegedly Fraudulent $30M Offering

The U.S. Securities and Exchange Commission (SEC) has charged lender Blockchain Credit Partners and two of its top executives for raising $30 million through allegedly fraudulent offerings.

  • The case is the agency’s first involving securities using so-called decentralized finance (DeFi) technology, the SEC said Friday.
  • The SEC said Florida men Gregory Keough, Derek Acree and their company Blockchain Credit Partners sold securities in unregistered offerings using smart contracts to sell tokens that paid over 6% interest.