as some of you have seen, the SEC has decided to sue us and
@helium literally as they are walking out of the door. the last gasp of a failed crusade against crypto companies in the US
naturally, none of the claims hold any water at all. the SEC has wasted two years of our time and millions of our dollars pursuing any claim they could think of. first it was that the coverage map was fake, then that the cellular radios weren't really cellular, then that the IOT hotspots didn't really work, literally chasing anything that might stick
eventually they decided that wireless access points must be securities (lol), and that if you share your location data using
@helium_mobile and get paid for it that is somehow bad. apparently they would rather let the big telco guys steal your data for free and fine them for it later
the icing on the cake is that we somehow defrauded our Series D investors, despite literally all of them telling the SEC that none of that happened. we've addressed this in the past, and have worked with every company on Helium mentioned in the complaint. apparently written testimonials from the companies themselves are insufficient for Gensler and his goons
I don't get angry very often, but this is a blood boiling sequence of events. there's so much more I could say, but it's probably better if I don't
we'll defend ourselves vigorously and continue the Gensler SEC's track record of miserable losses and outright lies. not just for us, but for all DePIN projects. if Helium hotspots are securities, it puts all DePINs in danger. we won't allow that to happen
I'm not remotely concerned. just pissed off
fight โ๐ก๏ธ