Shipchain, Founded by John Monarch, Gets Shutdown via SEC Enforcement Action
America ı By Rochdi Rais
134 0 Comments
Undertakings
1. Respondent has undertaken to:
a. Transfer all SHIP tokens in its possession or control, including within the control of the company’s directors, to the Fund Administrator (which is referenced in paragraph IV.E. below) within 10 days of receiving notice of the Fund Administrator’s appointment, to enable the Fund Administrator to permanently disable such SHIP tokens.
b. Publish notice of the Order on ShipChain’s website and social media channels, in a form not unacceptable to Commission staff, within 10 days of the date of this Order.
c. Take reasonable steps to convey this Order to digital asset trading platforms that, to its knowledge, offer trading of SHIP tokens and request the removal of SHIP tokens from the platforms, and publish notice of such requests on ShipChain’s website and social media channels, in a form not unacceptable to Commission staff, within 10 days of the date of this Order.
In determining whether to accept the Offer, the SEC considered ShipChain’s current financial condition and the fact that ShipChain has decided to cease all operations, and that the penalty represents substantially all of ShipChain’s net assets.
Shipchain is to shut down, return money to investors, and pay a $2,050,000 fine to the Securities Exchange Commission.
Pursuant to Section 308(a) of the Sarbanes-Oxley Act of 2002, as amended by the Dodd-Frank Act of 2010 [15 U.S.C. § 7246(a)], a Fair Fund has been created for the penalty above. The Commission will appoint a Fund Administrator who will develop a distribution plan (the “Plan”) and administer the Plan in accordance with the Commission Rules on Fair Fund and Disgorgement Plans.
The Fair Fund shall be used to compensate harmed investors for losses resulting from the violations determined herein. Any amount remaining in the Fair Fund after all distributions have been made shall be transmitted to the U.S. Treasury.
Down goes Shipchain, and it appears there is more trouble for its founder John Monarch on the horizon.
The Cryptocurrency Bitcoin Blackmail Trial
It is alleged that in 2013 John Monarch used cryptocurrency bitcoin to blackmail businessman Richard Gorman (who has a financial interest in the USA Herald and helped contribute to this article. Gorman also worked with the SEC to help bring action against Monarch for the alleged Shipchain ICO scam that Monarch operated).
Monarch, shortly before admitting to destroying key evidence in the case, pointed his finger at his alleged co-defendant (unnamed) in an attempt to shift the full blame of the blackmail.
FOLLOW US
Recent Posts
America’s Teenagers Are Getting Hooked On Gambling And Parents Say…
Pope Leo XIV Delivers Powerful First Easter Plea For Peace…
Artemis II Crew Captures First-Ever Astronaut Photograph Of The Moon’s…
Trump Unleashes Profanity-Laced Easter Threat At Iran After U.S. Special…
Mexico To Ban Cash At The Pump And The Toll…
NASA Is Sending Human Tissue To The Moon — And…
Don’t Miss It
Artemis II Raises New Questions As Spacecraft Toilet Malfunctions And Burning Odor Reported Mid-Mission
By – Samuel LopezDEVELOPING: Driver Plows Into Louisiana Parade Leaving Multiple Injured As Authorities Say Suspect Was Intoxicated
By – Samuel LopezTrump Names JD Vance “Fraud Czar” As California Comes Into Focus Amid Growing Concern Over Widespread Fraud And Misuse of Taxpayer Funds
By – Samuel LopezThe Trial of Jesus Christ A Legal Examination of Good Friday And The Most Consequential Verdict In History
By – Samuel LopezGervonta Davis Fires Back With $20M Countersuit, Claims Accuser Ran Extortion Scheme to Kill Jake Paul Fight
By – Samuel LopezKitKat Deploys Public Tracker After Thieves Steal 12 Tons of Chocolate Mid-Shipment
By – Samuel LopezSaharan Dust Turns Crete’s Sky A Fiery Red As Storm Kills One, Floods Greek Towns
By – Samuel Lopez‘Operation Never Say Die’ Exposes $50 Million Hospice Fraud Scheme Exploiting The Dying—And the System
By – Samuel Lopez
Kelly Warner Law Firm Blames USA Herald for Arizona Bar Investigation
5/17/17 Based on the information released in The Washington Post article on 5/17/17, the USA Herald publishes another in-depth article that…
By – USA Herald
Aaron Kelly Law Firm Resorts To Attacking Former Client Again On KellyWarnerLaw.com – Pattern Recognized
Professor Volokh thereafter filed a bar complaint against Dan Warner with the Arizona Bar. This eventually led the ABA to…
By – Jeff Watterson
Arizona Bar Opens Investigation on Attorney Aaron Kelly
USA Herald recently reported on a developing story involving Attorneys Daniel Warner and Aaron Kelly. Both Warner and Kelly have…
By – Paul O'Neal
Annie Altman Files Amended Lawsuit Against Brother Sam Altman In Federal Court As Filing Revives Explosive Abuse Allegations
CASE AT A GLANCE A dismissed lawsuit involving one of the most powerful figures in artificial intelligence has unexpectedly been…
By – Samuel Lopez
OpenAI Isn’t Just Buying A Podcast It’s Buying Influence In The AI Narrative War
INSIDE THIS REPORT A century-old strategy is quietly resurfacing as tech giants move to control not just platforms—but the conversations…
By – Samuel Lopez
Pennsylvania Man Pleads Guilty In Federal ‘Animal Crush’ Video Case As Authorities Warn of Expanding Underground Market
Private, invitation-only chat groups Payment channels facilitating anonymous or semi-anonymous transactions Commission-based content production Distribution networks designed to evade detection…
By – Samuel Lopez
Rep. Tim Burchett Warns Classified UAP Briefing Contains Explosive Information That Could ‘Set the Earth on Fire’
WASHINGTON — Rep. Tim Burchett (R-Tenn.), a vocal advocate for UAP transparency and member of the House Task Force on…
By – Samuel Lopez
National Security Intelligence Report: Clear And Present Danger – Iran’s Cyber War Against America
The Tactics: How Iran Strikes Security researchers and allied intelligence agencies have documented a consistent and evolving Iranian cyber playbook.…
By – Samuel Lopez
Artemis II Clears Earth Orbit, Heads Toward Moon’s Far Side
The Artemis II crew has officially departed Earth’s orbit, propelling the Orion spacecraft on its journey toward the Moon. The…
By – Tyler Brooks
Artemis II Clears Earth Orbit, Heads Toward Moon’s Far Side
The Artemis II crew has officially departed Earth’s orbit, propelling the Orion spacecraft on its journey toward the Moon. The…
By – Tyler Brooks
Former DeRidder Mayor’s Sentencing Rescheduled for June
DE RIDDER, La. — The sentencing of former DeRidder mayor and registered sex offender Misty Roberts has been postponed to…
By – Tyler Brooks
Javon Vital Commits to USC Football Program
Lake Charles College Prep standout Javon Vital, one of Southwest Louisiana’s most versatile athletes, pledged his future to the University…
By – Tyler Brooks
Bill Could Expand Early Release for Terminally Ill Inmates to 120 Days
A Louisiana House committee voted unanimously Tuesday to advance legislation that would extend the early-release window for terminally ill inmates…
By – Tyler Brooks
Teacher Protection Bill Advances Unopposed in House Committee
A proposal designed to safeguard teachers from student violence is gaining momentum after clearing a House committee without objection. House…
By – Tyler Brooks
US Intel Finds Iran Retains Key Strike Capabilities Despite Weeks of Attacks
Recent U.S. intelligence assessments indicate that Iran continues to possess a substantial capacity to launch missiles and deploy drones, even…
By – Tyler Brooks
Coral Springs Vice Mayor Found Dead, Husband Arrested
Authorities in Florida announced the shocking death of Nancy Metayer Bowen, the vice mayor of Coral Springs, whose husband has…
By – Rihem Akkouche
Magnitude 4.6 Earthquake Strikes Near Boulder Creek, Shakes Bay Area
A 4.6 earthquake near Boulder Creek rattled Santa Cruz County early Thursday, sending tremors across the Bay Area and reigniting…
By – Rihem Akkouche
Goliath Ventures Filed for Chapter 11 as Alleged $328M Crypto Scheme Unravels
A Cautionary Tale in Crypto’s Wild Frontier The downfall of Goliath Ventures underscores the volatility—and vulnerability—of the crypto investment landscape.…
By – Rihem Akkouche
Ohio State Suspends Fraternity After Student Hospitalization
A Developing Investigation With High Stakes The Ohio State suspends Fraternity case now moves into an investigative phase, where unanswered…
By – Rachel Moore
Senate Vote on DHS Shutdown Ends Weeks-Long Standoff
Uncertain Path in the House House Speaker Mike Johnson has already criticized the piecemeal approach, calling it “shameful” to leave…
By – Rihem Akkouche
7 Year-Old Girl Dies in Modesto Duplex Fire, Family Devastated
The 7 year-old girl dies in Modesto duplex fire tragedy has left a California community reeling after flames tore through…
By – Rachel Moore
Mike Fincke Space Medical Incident Stuns NASA as Mystery Illness Strikes in Orbit
Looking Ahead Despite the Unknown Though the mystery remains unsolved, Fincke’s outlook is anything but dim. Known for his resilience,…
By – Rihem Akkouche
Arizona Man Accused of Crucifying Pastor Pushes Judge For A Quick Death Sentence
By Samuel A. Lopez | USA Herald – An Arizona courtroom is now the center of a deeply disturbing case…
By – Samuel Lopez
Trump’s Laser Talk Sparks New Questions About America’s Secret Arsenal
On the American side, the evidence also points to a military that is pushing hard into directed energy rather than…
By – Samuel Lopez
The Northern Lights Return
The Northern Lights have a chance to be visible from several northern U.S. states on Tuesday night, forecasters at the…
By – Jackie Allen
February Unemployment Up as Job Losses Surprise Economists
According to the BLS: Producer prices rose 2.9% year-over-year through January 2026 Core PPI increased 3.6%, excluding food and energy…
By – Jackie Allen
Late-Night Attack by Venezuelan National at Florida Beach
Officials noted that the suspect had overstayed his work visa at the time of the attack. For more details on…
By – Jackie Allen
US Intel Finds Iran Retains Key Strike Capabilities Despite Weeks of Attacks
Recent U.S. intelligence assessments indicate that Iran continues to possess a substantial capacity to launch missiles and deploy drones, even…
By – Tyler Brooks
Trump Tariffs Reshape Global Trade One Year Later
One year after U.S. President Donald Trump launched sweeping tariffs, the global economic landscape shows significant shifts, with trade patterns…
By – Tyler Brooks
Oil Surges, Global Stocks Slip After Trump Renews Iran Strike Threats
Oil prices climbed sharply once again after U.S. President Donald Trump renewed warnings of intensified military action against Iran, offering…
By – Tyler Brooks
Trump Targets State Farm As California Wildfire Fallout Exposes Deeper Insurance Crisis
INSIDE THIS REPORT A presidential warning shot has been fired at one of America’s largest insurers—but the implications extend far…
By – Samuel Lopez
Tennessee Congressman Warns Classified UAP Briefings Would Shake Public Faith In Government
Rep. Tim Burchett says he has been briefed by intelligence agencies on information so sensitive it would leave Americans “unglued”…
By – Samuel Lopez
The Persuasion Machine Inside AI How New Research Reveals A Quiet Trade-Off Between Influence And Truth
How the System Actually Works The study points to a core capability unique to conversational AI: the ability to dynamically…
By – Samuel Lopez
HUMANITY RETURNS TO THE MOON: NASA’s Artemis II Lifts Off — First Crewed Lunar Mission In 53 Years
WHAT MATTERS NOW Four astronauts are en route to the Moon for the first time since 1972. History is being…
By – Samuel Lopez
Health Insurers 19% Claims Refusal Raises Alarm Across ACA Marketplace
A new analysis reveals a striking reality: health insurers 19% claims refusal has become a defining feature of coverage on…
By – Rachel Moore
Hospitals Threatened by Medicaid Cuts Face Growing Crisis Nationwide
A sweeping new analysis warns that hospitals threatened by Medicaid cuts are edging toward a breaking point, with hundreds of…
By – Rachel Moore
Isometric Workouts Gain Attention as Time-Efficient Path to Better Health
For many people, fitness conjures images of long hours spent running on treadmills, powering through burpees or lifting heavy weights.…
By – Tyler Brooks
How Much Screen Time Is Safe for Kids Under Five?
Fast-Paced Content Researchers at the Institute for the Science of Early Years at the University of East London are examining…
By – Tyler Brooks
New Therapies Offer Hope for Lasting Relief From Hay Fever
A new generation of treatments is renewing hopes that seasonal allergies could one day be controlled at their source, rather…
By – Tyler Brooks
Judge Allows Tiger Woods to Travel Abroad for Medical Treatment
By – Tyler Brooks
Italy Misses Third Consecutive World Cup After Shootout Loss to Bosnia-Herzegovina
Structural Challenges in Italian Football Experts cite long-term issues in player development and league policies. The Bosman ruling of 1995,…
By – Tyler Brooks
Men’s March Madness Elite 8 Delivers High-Stakes Drama as Title Race Tightens
Purdue Faces Uphill Battle Against Arizona Purdue boasts the nation’s top offense, powered by Braden Smith and Oscar Cluff, but…
By – Rihem Akkouche
The World Cup Security Reckoning: Trump Warns Iran Soccer Team About Safety As War Tensions Spill Into Global Sports
By Samuel A. Lopez | USA Herald – A short Truth-Social post from President Donald Trump on Thursday morning is now…
By – Samuel Lopez
Late-Night Attack by Venezuelan National at Florida Beach
Officials noted that the suspect had overstayed his work visa at the time of the attack. For more details on…
By – Jackie Allen
Trump’s War in Iran: Congress Confronts Escalation After U.S. Strikes
On the Republican side, most lawmakers appear to back Trump’s strategy. Sen. Tom Cotton (R-Ark.), chair of the Senate Intelligence…
By – Jackie AllenNo posts found.
No posts found.
No comments yet. Be the first to comment!
