Share this article
Wireline Settles SAFT Suit With SEC; Peirce Partially Dissents
Wireline is now barred from distributing the tokens it promised investors in its 2018 SAFT sale.
By Danny Nelson
Updated Sep 14, 2021, 10:57 a.m. Published Jan 15, 2021, 9:45 p.m.
Blockchain microservices startup Wireline will pay the U.S. Securities and Exchange Commission (SEC) $650,000 to settle charges stemming from its $16.3 million crypto token sale in late 2018.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
- Wireline did not register its offering, called a simple agreement for future token (SAFT) sale, with the SEC at the time. Now, under terms of the settlement, the company is barred from giving its investors those tokens and must notify them of the fact.
- SEC prosecutors said in their filing that Wireline's SAFT was an investment contract and thus subject to agency oversight.
- Commissioner Hester Peirce, an advocate for crypto on the SEC, agreed with the SEC's action against Wireline's raise. However, she framed the settlement's mandate that Wireline's SAFT tokens not be paid out as potentially damaging to innovation in cryptocurrencies.
- "This settlement perpetuates an approach that suggests that tokens themselves are securities and thus complicates the development of crypto networks," she said in a statement.
Mais para você
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
O que saber:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
Mais para você
Lighter trading platform sees $250 million withdrawn 24 hours after airdrop
Bubblemaps CEO says outflows seen on Lighter on Dec. 31 are not uncommon as users rebalance hedging positions and move on to the next farming opportunity.
O que saber:
- Approximately $250 million was withdrawn from Lighter after its $675 million LIT token airdrop.
- The withdrawals represent about 20% of Lighter's total value locked, according to Bubblemaps CEO Nicolas Vaiman.
- Large withdrawals post-token generation events are common as early participants exit, says CertiK's Natalie Newson.
Top Stories
