Titan Global Management is accused by the U.S. SEC of false advertising and failing to properly disclose cryptocurrency assets
ChainCatcher News, the U.S. Securities and Exchange Commission (SEC) has charged Titan Global Management with violations related to cryptocurrency, stating that Titan used misleading hypothetical performance metrics in its advertisements, including claims that the Titan Crypto strategy had an "annualized" return of up to 2700%. Additionally, it failed to properly disclose how the company custodies cryptocurrency assets and did not "implement policies and procedures regarding employees' personal cryptocurrency trading."Titan has cooperated with the investigation, agreeing to the SEC's order that it violated the Investment Advisers Act, and issued a cease-and-desist order without admitting or denying the SEC's findings, while paying $192,454 in ill-gotten gains, pre-judgment interest, and a civil penalty of $850,000, which will be distributed to affected clients.