TechCrunch Founder Refuses To Invest In Crypto Business In USA
Michael Arrington, founder of the TechCrunch Internet media platform, has reported in his Twitter that his startup Arrington XRP Capital will no longer invest in tokens in the USA.
He will consider Asia and the number of countries as a place to develop crypto businesses, and intends to manage them from Liechtenstein.
The team decided to take such measures after the second notification from the SEC, in which the Commission demanded to submit the information regarding the volume of the startup investments in an American company.
The Arrington XRP Capital hedge fund, aimed at the attraction of $100 mln investments, was established in November 2017. Earlier, Michael Arrington have invested in several projects, including the development of the Blockstack browser. He also worked as a financial adviser of the Propy blockchain platform, specializing in real estate. With the help of this service, Arrington have bought a real estate in Kiev for ether.
In March 2018, the SEC have initiated the investigation regarding Arrington and the number of other individuals, engaged in ICO.
As previously reported, the SEC accuses 1pool Ltd it of the federal laws violations.