So, Chiliz — this sportsy crypto thing — decided, “Hey, why not chat with the U.S. Securities and Exchange Commission again?” Maybe they want back in the U.S. before the 2026 FIFA World Cup drops. Because nothing screams “fun” like legal face-offs with regulators before a soccer game. ⚽️🤷♂️
The SEC diary (yeah, they keep one) spilled the beans about an Apr. 22 pow-wow with Chiliz, this Digital Chamber, and Zuber Lawler LLP — sounds fancy, right? Chiliz rolled out a “draft no-action letter,” basically asking the SEC to say, “Go ahead, it’s not a security…probably.” And they threw in plans to throw $50 to $100 million into this party. Big money move, pal.
According to Chiliz, their fan tokens aren’t securities — they’re things you use to vote, get cool perks, and feel like you’re actually a fan instead of just screaming at the TV. They even said, “We want to help fans engage with blockchain-based Fan Tokens.” That’s a sentence Larry David would raise an eyebrow at. 🤔
They’re rubbing elbows with the big kids: Barcelona, PSG, AC Milan, Arsenal. Oh, and they had deals with 13 NFL and 27 NBA teams. But those fell apart thanks to some regulatory “uh-ohs.” Because, surprise, the SEC’s rules feel like a Rubik’s cube designed by a sadist.
The NBA and NFL are apparently sniffing around fan tokens, but only if the regulatory fog clears. Chiliz left the U.S. scene early 2023, probably shouting “Good luck with THAT!” as they walked out. Now, with a new SEC captain at the helm, Paul Atkins — a known crypto fan — they think the odds might improve. His predecessor was already easing up; no more lawsuits against Gemini, Kraken, and the like. Progress, right?
But hey, don’t pop the champagne just yet. Chiliz’s token, CHZ, took a nosedive — down 67% this past year. Their money stash dropped from $17 million to $6.8 million. Ouch. So maybe re-entering the U.S. market is their Hail Mary pass to turn this ship around, or maybe it’s just a rerun of a comedy of errors. Stay tuned! 🍿
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2025-04-23 07:32