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CVM prohibits sale of Eike Batista's cryptocurrency.
On April 3, 2025, the Securities and Exchange Commission (CVM) prohibited the sale of the cryptocurrency $EIKE, launched by businessman Eike Batista, to Brazilians. The decision was made because the agency classified the token as a security, requiring registration and authorization for offering in Brazil, which was not complied with.
The CVM ordered the immediate suspension of the offering to the public residing in the country, under the penalty of a daily fine of R$ 100,000 in case of non-compliance. The measure reflects the CVM's analysis that the project, linked to the production of a "supercane" for sustainable fuels, was being promoted irregularly in the Brazilian market.
The CVM ordered the immediate suspension of the offering to the public residing in the country, under the penalty of a daily fine of R$ 100,000 in case of non-compliance. The measure reflects the CVM's analysis that the project, linked to the production of a "supercane" for sustainable fuels, was being promoted irregularly in the Brazilian market.
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The $Eike token was created to raise funds to invest in renewable energy projects, including the production of green ethanol. The idea is that investors who purchase the $Eike token will be financing the production of sugarcane and, in exchange, will receive dividends paid in Solana.
It is important to note that there are many doubts in the market regarding the qualities attributed to supercane, and some experts question the viability of the project. Furthermore, Eike Batista has a controversial history, having been accused of corruption and money laundering in the past.
However, Eike Batista's project has also received support from investors and companies, including the Brasilinvest group, which invested US$ 500 million in the project. In addition, the Brazilian and Japanese governments are working together to promote the energy transition and the use of sustainable fuels, which could be a promising market for supercane. #EikeBatista #supercana #Eike
It is important to note that there are many doubts in the market regarding the qualities attributed to supercane, and some experts question the viability of the project. Furthermore, Eike Batista has a controversial history, having been accused of corruption and money laundering in the past.
However, Eike Batista's project has also received support from investors and companies, including the Brasilinvest group, which invested US$ 500 million in the project. In addition, the Brazilian and Japanese governments are working together to promote the energy transition and the use of sustainable fuels, which could be a promising market for supercane. #EikeBatista #supercana #Eike
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