The U.S. Securities and Exchange Commission has reportedly subpoenaed the cryptocurrency investment fund launched last year by TechCrunch founder Michael Arrington.
Still, Arrington's disclosure marks the second public acknowledgment of its kind, coming a day after e-commerce giant Overstock revealed that it had received what it called a "voluntary" document request from the SEC in light of a token sale of its own.
"We received a subpoena. Every [crypto]fund I've talked to has received one," Arrington told the network, going on to say:
"I'm not mad I'm terrified. These are blue chip deals with top law firms who checked every box they could think of. And the SEC is going after not just the companies but the investors," he wrote in one tweet.
As CoinDesk reported yesterday, the SEC has thus far declined to comment on the scope and nature of the investigation. Sources say that the inquiry stretches back as far as last fall and that as many as 80 subpoenas have been sent out, though other estimates ranged higher than that figure.
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