29m ago
SEC Ends Two-Year BitClout Case Against Founder Nader Al-Naji With Prejudice
The United States Securities and Exchange Commission has agreed to dismiss its two-year enforcement action against BitClout founder Nader Al-Naji with prejudice, following a reassessment of the evidentiary record referenced in a joint filing last Thursday. The regulator’s July 2024 complaint had alleged that Al-Naji raised over $257 million through BTCLT token sales and misused more than $7 million on personal expenses, but he has now waived any claim for legal fee reimbursement as part of the resolution.