CFTC fines Digitex and founder $250,000 in lawsuit

The Commission on Friday went after Digitex and its founder Adam Todd in a lawsuit, claiming that it has never been registered with the Commission in any capacity. Learn how smart money is playing the game of criptocurrency.

The price of DGTX fell by 12%, with the coin now trading at zero after the CFTC alleged the company was operating illegally and accused the founder of price manipulation of Digitex's native token.

A $250,000 settlement was made by the CFTC against the creators of bZerox and bZx for illegally offering leveraged and margined retail commodity transactions in digital assets, engaging in activities only registered futures commission merchants can perform, and failing to adopt a customer identification program, as required by FCMs.