The SOMA token is designed as a non-cumulative, participating preferred stock for SOMA.finance, offering the potential for a dividend payout of as much as 10% of its earnings.
The company that operates bitcoin kiosks, along with its subsidiary Up Global, and the CEO of both entities have been accused of engaging in 'unregistered offers and sales of securities.'
C Squared Ventures and Goat Capital, the firm co-founded by Twitch founder Justin Kan, were at the forefront of leading the fundraising efforts.
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