Texas Moves to Halt Crypto Scheme Promising Skyscraper Ownership

The Texas State Securities Board has filed an emergency enforcement action against a crypto investment scheme that allegedly tried to raise $175 million through a sale of coins representing tokenized ownership in a skyscraper.

The action alleges GSB Gold Standard Bank LTD dba GS Partners and other members of GSB Group offered products “including fraudulent certificates tied to digital assets, investments in a staking pool in a proprietary metaverse, and a token that can purportedly be staked for rewards that can be converted to real physical gold,” the agency said in a statement Wednesday. The location of the building wasn’t ...