SEC Branch Trolls Blockchain Stock Pumpers

The Securities and Exchange Commission's Fort Worth branch joked about the recent fad of companies adding "blockchain" to their names on Twitter.

AccessTimeIconJan 8, 2018 at 9:45 p.m. UTC
Updated Sep 13, 2021 at 7:21 a.m. UTC

The social media team at the U.S. Securities and Exchange Commission's Fort Worth office has taken aim at the recent trend of publicly traded companies looking for a blockchain price boost.

As previously reported, the past months have seen a range of companies, including a virtual reality platform and a Long Island iced tea distributor, "pivot" to blockchain – and subsequently benefit from the market windfall thanks to investors.

Those dizzying price gains have elicited criticism, a public stock freeze or two and, now, a crack from the Forth Worth SEC, which posted earlier today:

— SEC Fort Worth (@FortWorth_SEC) January 8, 2018

which pivoted to crypto or blockchain focuses include Riot Blockchain, formerly BiOptix Diagnostics, and LongFin, which saw a 2,600 percent stock jump after purchasing a blockchain micro-lending company.

While these companies have announced efforts to work with blockchain or, at the very least, mine cryptocurrencies (as seen in a number of past filings, organizations like the Financial Industry Regulatory Authority (FINRA) have sounded the alarm on such announcements.

Specifically, the group warned investors to be wary about any publicly traded stocks that boast having a connection to the tech. It stated in a release last month that "it's easy for companies or their promoters to make glorified claims about new products, services and other cryptocurrency-related connections," noting that the tactic could be deployed by would-be fraudsters.

Steer image via Shutterstock


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.

Read more about