The Securities and Exchange Commission (CVM) has determined the immediate suspension of the cryptocurrency $EIKE in Brazil, associated with former billionaire Eike Batista.
The decision comes after the project, which promised to develop a "supercane" and sought to raise funds through a token launched on the Solana network, attracted the attention of authorities.
The CVM understood that the initiative constituted the offering of securities without authorization, with a strong appeal to the Brazilian public. As a result, Eike and his team are prohibited from raising funds in the country, under the risk of a daily fine of R$ 100,000 in case of non-compliance. Despite presenting himself as a supporter of the initiative, Eike denies being the owner of the token, claiming that he cannot be a formal partner due to legal proceedings and asset freezes.
The project's page remains active and directed at the international public, but the action shows that the CVM is attentive to new token launches in the country.