BitConnect
The Securities Commissioner of the state of Texas filed an emergency cease and desist order for BitConnect late Thursday evening. In the official report, the Texas State Securities board accuses the London-based investment platform of fraud and the selling of unlicensed securities.
BitConnect in Hot Water
Throughout the write-up, the state of Texas lists a number of details surrounding the BitConnect investment model, including its rate of return, lending program, and staking program.