The complaint alleges CEO John Roets, along with three Dragonchain entities, violated the Securities Act by raising millions of dollars from the sale of dragon (DRGN) tokens in an initial coin offering (ICO) predominantly marketed to crypto investors in 2017. The company then funneled the money into its marketing and development campaigns, according to the SEC.
SEC Files Complaint Against Dragonchain for Unregistered Initial Coin Offering
