Crypto Co. Touted 'Recession Special,' Texas Regulator Says

Law360 (April 8, 2020, 7:24 PM EDT) -- Texas' securities regulator announced Wednesday it took emergency action against a purported cryptocurrency miner, accusing the company of promising investors unrealistically high returns and attempting to profiteer off the global pandemic.

In the Texas State Securities Board's April 8 cease-and-desist order against Ultra BTC Mining LLC and its agent Laura Branch, the regulator alleges that Branch and the company touted an unverifiable $100,000 COVID-19 relief donation it claimed to have made to the humanitarian organization UNICEF.

In a statement Wednesday, the regulator also said that the company "is also running what amounts to a recession special," explaining that Ultra Mining was...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Attached Documents

Related Sections

Government Agencies

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!