As one instance, the SEC alleged, Cumberland promoted ATOM by means of, “An electronic mail despatched to counterparties on February 20, 2023 said: ‘In the mean time, one of many smaller gainers within the sector, exterior of ETH and EOS, has been ATOM. ATOM is up ‘solely’ 53% YTD, regardless of robust fundamentals and a wholesome developer neighborhood; it’s a reputation the place we anticipate to see a catchup rally if crypto stay buoyant.'”
