As I was doing my research for our article yesterday on Nui’s arguably pointless CompChain, I came across a corporate blog post that piqued my interest. Titled “ATTN: Important Clarifications for Nui Members”, here’s an update Nui pushed out to affiliates on March 11th; The Digital Vault Is Not Associated with Nui You may have [Continue reading…]
Nui content @ BehindMLM
Another day, another excuse to ram crypto buzzwords down the throats of the MLM community. Why Compchain? Compchain is changing the scope of networking as we know it. Built on immutable blockchain technology, Compchain allows you to lock in your network for life, and tap into new products and opportunities as they’re added to the [Continue reading…]
Following Nui’s fine for securities fraud violations in Texas it should be clear that, in order to operate legally in the US, Nui needs to register its securities offering. Instead of doing that though, the company is pushing ahead – on the gamble that other states and the SEC will not take any further action [Continue reading…]
The state of Texas has slapped Nui with a $25,000 securities fraud fine. The company has also agreed to cease offering unregistered securities to Texas residents.
It’s pretty established now that MLM cryptocurrency cloud mining opportunities are a security. Which makes Nui’s new kala mining offering all the more unbelievable.
Nui has its origins in Divvee, a failed “access to discounts” MLM opportunity that launched in mid 2016. When Divvee’s original model failed, the company rebooted as a mobile app promotion platform. That also failed, prompting Divvee’s descent into unregistered securities. In late 2017 Divvee merged with Hodo Global. The merger created Nui, which focused [Continue reading…]
Seemingly in response to Texas’ cease and desist, Nui has announced it is restructuring its affiliate offering. We haven’t heard much from CEO Darren Olayan after he claimed securities regulation didn’t exist a few weeks ago. Thus is was left to “Keystone Leaders” Jim Paré and Casey Combden to front affiliates.
Nui CEO Darren Olayan has taken to Facebook to claim the securities regulations behind a recently served cease and desist don’t exist. Texas issued Olayan, Nui, Mintage Mining and Symatri with a securities fraud cease and desist on July 11th. At a corporate level Nui has vowed to “vigorously defend” Texas’ alleged securities fraud violations, [Continue reading…]
Although we’d caught wind of it a day before, yesterday Nui published it’s official response to the Texas cease and desist. Following months of assurances that Nui, Mintage Mining, Symatri and the Kala altcoin had been signed off on by “top law firms in the US”, Texas issued the company with a securities fraud cease [Continue reading…]
Despite reassurances by Nui that their Kala altcoin and Mintage Mining have “stability and protection with the SEC“, a US securities regulator has issued the company with a cease and desist.