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.
