The SEC has charged an a16z and Sequoia-backed crypto startup founder with fraud
The founder of once-hyped crypto startup BitClout is facing trouble. On Tuesday, the SEC charged BitClout founder Nader Al-Naji with fraud and unregistered offering of securities, claiming he used a pseudonymous identity to avoid regulatory scrutiny while he raised over $257 million in cryptocurrency. BitClout, a decentralized social media platform, raised from a who’s-who of…