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Stepn x Adidas Genesis Sneakers: A New Era in Fitness

The Stepn x Adidas Genesis Sneakers Collection: A Revolutionary Partnership The fusion of the digital and physical worlds is more than a trend; it is a burgeoning reality. The recent collaboration between Stepn and Adidas exemplifies this transformative shift. With the launch of the Genesis Sneakers collection, both companies are poised to redefine the boundaries of fitness, fashion, and technology in lifestyle rewards. This partnership is not only groundbreaking but also sets the stage for future innovations in the ever-evolving landscape of fitness applications and digital assets. A New Era of Phygital Experiences Stepn, a pioneering move-to-earn FitTech app, has taken a bold leap by teaming up with a global powerhouse like Adidas. This collaboration signifies a pivotal moment in the fitness and lifestyle sector, as highlighted by Stepn CEO Shiti Manghani: Phygital Partnership : The merging of physical and digital assets marks a new direction for lifestyle rewards. Enhanced...
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Produced by Daniel Aharonoff & Mogul Media AI

Unraveling SEC's Lawsuit Against Brian Sewell

EthDan’s Analysis of SEC Lawsuit Against Brian Sewell and Rockwell Capital Management

As the Securities and Exchange Commission (SEC) continues to crack down on fraudulent activities in the digital assets space, another lawsuit has emerged, this time involving U.S. crypto entrepreneur Brian Sewell and his company, Rockwell Capital Management. The SEC alleged that Sewell targeted students with promises of lucrative returns through an AI-powered crypto hedge fund, only to abscond with $1.2 million in Bitcoin from 15 investors, never launching the fund as promised.

Allegations and Settlement Details

  • Brian Sewell and Rockwell Capital Management were accused of defrauding students by luring them into investing in a non-existent crypto hedge fund.
  • Sewell allegedly held investors’ funds in Bitcoin, which were later stolen in a hack, resulting in the loss of all the invested cash.
  • The SEC complaint stated that Sewell concealed the hack and losses from investors to perpetuate the fraud.
  • In the settlement, Rockwell Capital Management agreed to pay disgorgement and prejudgment interest totaling \(1,602,089, while Sewell agreed to a civil penalty of \)223,229 without admitting or denying the allegations.

SEC’s Response

  • Director of the SEC’s enforcement division, Gurbir S. Grewal, emphasized the SEC’s commitment to holding accountable those who mislead investors with attention-grabbing technologies like AI, crypto, and DeFi.
  • Grewal highlighted that Sewell allegedly deceived students with false promises of significant returns through the American Bitcoin Academy course, which turned out to be non-existent.

This case serves as a stark reminder of the risks associated with fraudulent schemes in the digital assets space and underscores the importance of regulatory oversight to protect investors. The SEC’s swift action against Brian Sewell and Rockwell Capital Management sends a strong message that deceptive practices will not be tolerated in the evolving landscape of digital assets.

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