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2025-01-20 00:12:06
Helium founder responds to SEC lawsuit against Nova Labs: Will actively defend
<p>Odaily News The U.S. Securities and Exchange Commission has sued Nova Labs, creator of the Helium network, alleging the company sold unregistered securities and misled investors, the latest and likely final enforcement action taken by outgoing chairman Gary Gensler.<br/> The lawsuit, filed Friday, targets three Helium-related tokens: the Helium Network Token (HNT), the Helium Mobile Token (MOBILE), and the Helium Internet of Things Network Token (IoT), which the agency says were sold as unregistered securities. The lawsuit also accuses Nova Labs of misleading investors about several high-profile partnerships.<br/> Helium founder Amir Haleem posted a defiant message on Sunday, calling the lawsuit a “last-ditch effort in a losing crusade against U.S. cryptocurrency companies.”<br/> “The SEC wasted two years of our time and millions of dollars pursuing any claim they could think of… I rarely get angry, but this is a blood-curdling series of events,” Haleem said. Regarding the allegation that Helium misled investors, Haleem said: “We have dealt with this issue in the past and have worked with every Helium company named in the lawsuit.”<br/> “We will vigorously defend ourselves and continue Gensler’s record of dismal SEC losses and outright lies,” Haleem concluded, “not only for us, but for all DePIN projects. If Helium Hotspot is a security, then it puts all DePINs at risk. We will not allow that to happen.”<br/></p>
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