Comment by earlz

There was no disclosure that they were hemorrhaging money nor that their product was significantly unprofitable though. I imagine interest would've been a lot less had that fact been public at the time. They were literally selling it as "invest now and we all make a lot of money later"

I think the SEC is interested in the conditions around their ICO, the misleading tactics, and the aftermath of it, more than the fact that they did an ICO