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2024-12-04 11:21:51 29,919 views r/0000280⚡️SEC HAS REACHED THE GAMING SECTOR
Two months after OpenSea received a Wells notice from the U.S. Securities and Exchange Commission (SEC), Immutable has now received one as well.
This makes Immutable the first web3 gaming company to receive such a notice from the SEC. It may indicate that the company is suspected of violating securities laws and is being prepared for a possible lawsuit.
In this context, the IMX token has dropped by more than 15%.
➡️ Details:
Reason for the notice: Immutable believes that the SEC is investigating the listing and private sales of IMX tokens that occurred in 2021, although the notice does not specify this directly. The official explanation was extremely brief—less than 20 words.
➡️Background: The SEC clarified that their attention was drawn by a blog post from 2021, which indicated that investments from Huobi in IMX at a price of $0.10 ($10 before the 100:1 split) were inaccurate, suggesting a lack of value exchange between the parties.
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