The SEC has entered penalties against a crypto asset hedge fund for misrepresenting itself as a registered entity.
A digital asset hedge fund manager was charged with misrepresentations and registration failures, for allegedly marketed itself falsely as the “first regulated crypto asset fund in the United States” while actually operating as an unregistered investment company. California-based Timothy Enneking raised $3.6 million in 4 months during an unregistered public offering which Enneking falsely claimed at the time was SEC regulated.
