🏀 Security tokens have the hot hand

Welcome to the 29 new Rainmakers who have joined us since last week. Join the 2,649 others who are laughing, learning, and staying at the forefront of tech every week!

Gooood morning, Rainmakers! ☀️

As always, I have two captivating topics for you to dive into:

1️⃣ 🚓The SEC doubles down on crypto enforcement: The SEC has nearly doubled the number of employees to a total of 50 dedicated positions to help provide clarity in the blockchain realm!

2️⃣ 🏀 Security tokens have the hot hand: A professional basketball team in France is doing an STO! Fun fact, a couple of NBA players started on this team!

Without further ado, it's time to…

Get liquid 💧

🚓The SEC doubles down on crypto enforcement

SEC regulation is the talk of the town these days...

The question is when is the SEC going to step in and regulate the digital wild west??

Things are looking interesting as we have Elon Musk tweeting that Bored Apes are fungible, people making millions of JPEGs, and shitcoin charts looking like a blueprint of a rollercoaster ride.

I for one have been thoroughly entertained by all the madness, but the bad actors need to go bye-bye, and investors need to be protected.

The SEC is finally seeing the writing on the wall and doubling down on their crypto regulation and enforcement unit, so they can take on any kind of illegal activity.

They have nearly doubled the number of employees to a total of 50 dedicated positions to figure this mess out and take down all the bad actors!

Since 2017, the unit has completed over 80 enforcement actions, with relief of more than $2B.

I imagine this number will be drastically higher when it's all said and done.

The unit aims to focus on these areas in particular:

• Crypto asset offerings

• Crypto asset lending and staking products

• DeFi

• NFTs

• Stablecoins

Don't hold your breath though, this could take a while.

After all, when you are dealing with such complexity, it's better to take your time and get to the bottom of the core issues.

🏀 Security tokens have the hot hand

Who else feels like security tokens are in a bit of a rhythm lately?

If this was a basketball game I'd say that security tokens definitely have the hot hand right now.

Well, that's convenient because I am talking about basketball! 😉

In fact, the French basketball team, Elan Béarnais, is keeping the hot streak alive by announcing an STO of their very own.

Elan Béarnais knows a thing or two about greatness as they have earned 4 French championships, with multiple players entering the NBA draft including Boris Diaw and Mickaël Piétrus.

Boris Diaw went on to be an NBA champion with the San Antonio Spurs, as well as earned the prestigious 'Most Improved Player' in 2006!

That man can ball.

Let's see if this new STO has what it takes to ball:

Deal Terms:

• Offering Platform: Securitize

• Blockchain: Avalanche

• Instrument: Profit-sharing

• Ticker: PBT

• Fundraising Goal: $9,500,000

  • Half reserved for French investors

• Start Date: 04/26/22

• Price/token: $.95

• Minimum Investment: ˜$475

• Lock-up Period: 12 months

Learn more here!

According to the official press release, the token holders will not be traditional shareholders but represent the rights to profits that the basketball team earns.

It's not clear what percentage of profits it is at this time, but there are other rights investors have including privileged access to the upcoming offer relating to a real estate project:

"This project called Climate Technology Park will be a sustainable building complex, constructed in collaboration with eco-conscious companies that will host a training center, restaurants, a hotel, and more."

This is a unique benefit for token holders, but I personally would prefer equity in the basketball team, but this is still a very unique investment opportunity.

Let's hope this offering is a layup for the team, stay tuned!

💦 What else is Drippin’

1. The Security Token Market Crowdfund has passed $6.5M from 1,144 people in pledges: Pledge now and reserve your spot to invest with us!

2. Securities Token Platform INX Digital Ends 2021 with $16.3M Loss: INX is not off to a great start, but let's see if this trend continues.

3. Algorand becomes the first US blockchain sponsor of FIFA World Cup: One of the top blockchain protocols is making major marketing moves.

Everything in this report is for informational and entertainment purposes only. Nothing in this report should be taken as financial advice or as an inducement to purchase or sell any security. Nothing in this market report should be used as legal advice. Always do your own research before making any decisions regarding financial transactions of securities.

Disclosures:

• No money or other consideration is being solicited, and if sent in response, will not be accepted;

• No offer to buy the securities can be accepted and no part of the purchase price can be received until the offering statement is filed and only through the platform of an intermediary (funding portal or broker-dealer); and

• A person’s indication of interest includes no obligation or commitment of any kind.--