The Prometheum WTF: Is This an SEC Grift Just to Mess Up Crypto Legislation?
The Breakdown
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Prometheum and Network 1 Financial Solutions
Prometheum raised over 48 million in venture funding despite so far having no product and appearing to lack a viable path to building one. Prometheum has paid over 1.5 million in sale commissions to a new Jersey firm called Network 1 Financial Solutions, another Chinese-owned firm. The broker dealer underwrote the notorious publicly listed beverage company Long Island Iced Tea which pivoted to blockchain in December 2017.
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