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“In the U.S., soliciting financial gains under false pretenses can fall under statutes like wire fraud.” Actually…
“Meme coins are typically bought for entertainment or social purposes and are driven by market demand and speculation, much like trading cards.
The value is not expected to be derived from the "entrepreneurial or managerial efforts of others," which is a key element of the Howey test used to identify a security.
As a result, purchasers of meme coins are not protected by federal securities laws.”
Exception to this rule: Pump and dumps, which $SAGE wasn’t and isn’t.
What you’re looking for is something that would fall under the FTC. As an unfair and deceptive advertising practice. This would apply if the marketing material materially misrepresents the token's features, risks, or potential value.
That’s the reason why your @SECGov tags aren’t given a single fuck about and it makes my giggle every time. If you’d like my reference straight from their page, here ya go: sec.gov/newsroom/speec….
The FTC consequences could consist of civil penalties or restitution but they’ve only previously been focused on the big boys like the Bitcoin Funding Team, My7Network, and crypto lender Celsius.
Not saying it makes anything that happens in this space right, okay, moral, or ethical. I can’t speak on what a reasonably prudent person would or wouldn’t do, especially in this space because every single time you buy a new token or something with any red flags, the exchange warns you about potential scams and risk. So why would a reasonable person take that risk if they weren’t willing to risk their investment? Tying back to the few law classes I took, I think your argument is a little frivolous and doesn’t truly carry the weight you think it does. It’s not gaslighting, the fact you think you’re being gaslit speaks to your true position on the topic.
Think it’s time to get off the white horse, acknowledge the way things are here and what role you yourself played in that, even if you feel like you got played, you just gotta own that. If it’s not for you it’s not for you, all good. It’s PVP, if someone profits, someone loses, every single time. It’s not hard to understand if you don’t like that, go trade blue chips. You’re here for the quick fast fortune like we all are, if you make that quick fast money it’s coming from someone else’s pocket. You’d be okay with that if it ran to 100M, taking profits like a MFer not giving a fuck. But it didn’t, you lost money I’d bet and now you got your panties in a bunch. Welcome to the club man!
I’ll end with, “99% of all meme coins go to zero”
- Sage himself.
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