SEC Permanently Ends BitClout Fraud Case Against DeSo Founder Nader Al-Naji After $257M Token Sale Probe

On March 15, 2026, the US Securities and Exchange Commission permanently dropped its civil fraud lawsuit against BitClout creator and DeSo founder Nader Al-Naji, closing a case tied to a $257 million BTCLT token sale. The complaint had alleged that more than $7 million in proceeds were used for personal expenses, but the dismissal with prejudice bars the SEC from refiling the same claims. The move follows an earlier decision in February 2025 by federal prosecutors to dismiss a related wire fraud charge without prejudice.