The SEC Suspects the Founder of TechCrunch of Illegal Activities

The investigation by the Securities and Exchange Commission (SEC) regarding the ICO area is a very large project, which we covered earlier and this time it concerned Michael Arrington, the founder of the online edition TechCrunch.

.The SEC sent a subpoena to Arrington, who, however, responded rather calmly.

“We received a subpoena. Every cryptofund I’ve talked to has received one. That’s fine. They just have to figure out what they want. They need to set up rules so we can all follow them, and the market is begging them for that”,  Arrington said in a phone interview with CNBC on Thursday.

In November of last year Arrington announced the launch of the hedge fund Arrington XRP Capital, which he intended to collect investments of $100,000 for, invested into the development of the decentralized Internet browser Blockstack and became an adviser of the marketplace Propy. By the way, he purchased an apartment in the Ukrainian city Kiev for Ethereum through this marketplace.

Arrington explained the situation on his Twitter. He says that he received the subpoena as an individual and it is not even connected with his projects, but with the company which he invested into last summer and he has not publicly informed about it anywhere.

Supposedly this situation could result from the fact that Michael Arrington wrote several tweets in February, criticizing the actions of the SEC. Although he deleted his remarks after a while, there were screenshots of his statements.

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