Texit Coin operates in the cryptocurrency MLM niche. The company is purportedly based out of Texas.

Heading up Texit Coin we have founder Bobby Gray, aka Rob Gray and Robert J. Gray.

As far as I can tell Gray doesn’t have an MLM history. Gray appears to be a sovereign citizen nutjob with a specific focus on counterfeiting US currency.

The earliest I was able to find on Gray was his role as Regional Currency Officer at Liberty Dollar.

Liberty Dollar was a “private currency” started by Bernard von NotHaus in 1998.

Liberty Dollar’s storage warehouses were raided in 2007. Von NotHaus was charged with counterfeiting US currency and was arrested in June 2009. A month later von NotHaus announced he was closing Liberty Dollar.

Von NotHaus was convicted at trial in March 2011. In November 2014 von NotHaus was sentenced to six months house arrest with three years probation.

A year before the Liberty Dollar raids, Bobby Gray launched his own Liberty Dollar spinoff; the American Currency Open Standard.

Gray claims he launched the American Currency Open Standard in 2008 after “watch[ing] all these different documentaries” and going down “the bottom of every rabbit-hole conspiracy theory”.

In a recent Texit Coin marketing video, Gray describes the American Currency Open Standard as “his own currency”.

Speaking before the Domestic Monetary Policy Subcommittee in 2012, Gray claimed the Federal Reserve and US government were “thieves”.

Ironically, the same year Gray appeared before the subcommittee to tout its success, American Currency Open Standard collapsed. This prompted Gray to launch Mulligan Mint later the same year.

Mulligan Mint was pitched as a “complimentary currency system that can fill in the blanks where the U.S. dollar has let us down”.

In September 2013, the Wall Street Journal reported on Mulligan Mint’s collapse;

The 25-worker Mulligan Mint Inc. … has filed for bankruptcy after officials in June discovered that part of a $1.4 million shipment of silver was missing.

Where did the silver go?

“That’s the big question,” Mulligan Mint President Rob Gray told Bankruptcy Beat. “We don’t really know.”

Social media posts suggest Brown relocated to Singapore around the time of Mulligan Mint’s collapse.

In 2017 Gray resurfaced with Singapore-based Cold Storage Coins. Cold Storage Coins was a continuation of a service Gray previously sold through Mulligan Mint (quoting the previously cited WSJ article);

Mulligan Mint even sells a one-ounce silver “bitcoin,” a virtual currency that some have ironically made actual coins for, which has a Q2 code that can be scanned with a smartphone.

As of 2023, Cold Storage Coin appears to have been rebooted as Blockchain Mint.

A 2013 Reddit post in the Silverbugs subreddit, purportedly quoting a 2013 email newsletter from Bernard von NotHaus, associates the following additional entities with Gray;

Free Lakota Bank, AOCS (American Open Currency Standard), Mulligan Mint, SLV Properties (Silver Properties), AG Logistics (Silver Logistics), Coins for the Cause, Silver Bullet Silver Shield (owned by Chris Duane but claimed by Rob Gray), TSP Mint (The Survival Podcast Mint), AOCS Mint, Open Currency, Lakota Exchange, AG Trading post, ICBA: (International Commodity Banking Association) that does not exist.

At least back in 2013, von NotHaus appears to see Gray’s various business ventures as Ponzi schemes;

Need another name to keep the ponzi running? Just create another entity or a new organization like the ICBA.

This brings us to Texit Coin’s launch in May 2024. I’m not 100% sure on when but the MLM side of Texit Coin launched later (early 2025?).

Texit Coin operates from two website domains:

  1. texitcoin.org – privately registered on January 5th, 2024
  2. minetxc.com – registered in April 2024, private registration last updated on March 12th, 2025

Texit Coin provides a McKinney, Texas corporate address on its website. The address appears to be residential in nature.

This tracks with Texit Coin’s official FaceBook page being managed out of the US:

Read on for a full review of Texit Coin’s MLM opportunity.

Texit Coin’s Products

Texit Coin has no retailable products or services.

Promoters are only able to market Texit Coin promoter membership itself.

Texit Coin’s Compensation Plan

Texit Coin promoters invest USD equivalents in tether (USDT) or USDC.

This is done on the promise of a passive return, paid out daily in Texit Coin’s TXC coin.

Texit Coin’s compensation plan pays out on recruitment of promoter investors.

Note that while it doesn’t go into specifics recruitment requirements, Texit Coin’s compensation documentation states;

you cannot earn commissions without personally sponsoring others.

If you haven’t sponsored anyone personally, your Commission Potential remains at zero.

Texit Coin pays residual commissions via a binary compensation structure.

A binary compensation structure places a promoter at the top of a binary team, split into two sides (left and right):

The first level of the binary team houses two positions. The second level of the binary team is generated by splitting these first two positions into another two positions each (4 positions).

Subsequent levels of the binary team are generated as required, with each new level housing twice as many positions as the previous level.

Positions in the binary team are filled via direct and indirect recruitment of promoters. Note there is no limit to how deep a binary team can grow.

Texit Coin pays residual commissions based on points generated on both sides of the binary team.

Points are generated when directly and indirectly recruited promoters invest:

  • a Single tier investment = 1 point
  • a Triple Play tier investment = 3 points
  • a Builder Plan tier investment = 9 points

For every 3 points matched on both sides of the binary team, a $1000 residual commission is paid out.

Texit Coin caps residual commissions at $3000 a week (9 points matched).

It should be noted that $8955 Builder Plan tier promoter investors have three earning positions in the binary team. This allows them to triple up on downline investment volume (up to $9000 a week).

Texit Coin promoters can qualify for unlocked weekly commissions by qualifying as a “Texit Ranger”;

TEXIT Rangers are Miners who have demonstrated a deep commitment to the health and success of the mineTXC community by hosting Zoom calls, organizing and hosting live, in-person events, working closely with their team members, and helping to create extraordinary results for the entire organization.

TEXIT Rangers have no limit on Commission Potential.

Joining Texit Coin

Texit Coin promoter membership costs between $995 $8955:

  • Single – invest $995 and receive a variable amount of TXT coins
  • Triple Play – invest $2985 and receive 300% more TXT coins over the $995 Single Plan
  • Builder Plan – invest $8955 and receive 900% more TXT coins over the $995 Single Plan plus two additional promoter positions

As above, the more a Texit Coin promoter spends when they sign up the higher their income potential.

Texit Coin Conclusion

In a nutshell, Texit Coin is a continuation of Bobby Gray’s attempts to circumvent US financial laws.

Texit Coin is nothing more than the launch of another currency under Gray’s control, allowing Gray to continue his “I’m the Federal Reserve” fantasy.

From Texit Coin’s website;

TEXITcoin is created exclusively by Bobby Gray, founder of the American Open Currency Standard (2008), creator of the original Bitcoin coin (2011), US Congressional Domestic Monetary Services Subcommittee expert witness (2012), and creator of the original Bitcoin Cold Storage Coin (2017).

TXC itself is nothing more than a litecoin fork. Anyone can create a fork of an existing cryptocurrency with minimal effort (copy + paste code, new name, away you go).

The ultimate goal of Texit Coin appears to be usurpation of Texas’ economy and state government through financial subversion.

TEXIT? Are you for real?

History has proven that all empires eventually fail; experts agree that the American empire is on the decline and will end with the same fate as the British & Dutch before them.

Will Texas – with its robust economy, independent power grid and unique cultural identity – go down with the ship? Experts at the Texas Nationalist Movement will show exactly how & why Texas Independence is the only plausible future.

Yada yada yada, TXC will become Texas’ state currency…

Future Plans:

State-Level Integration: Exploring opportunities to integrate TEXITcoin into larger state-level economic initiatives and political processes.

…and Bobby Gray and friends will rule the populace as newly minted feudal overlords.

In some form or another, this is pretty much the end-goal of every financially motivated sovereign citizen nutjob.

Beyond acknowledging sovereign citizen nutjobbery being behind Texit Coin, with respect to an MLM review Gray’s personal beliefs are irrelevant.

From a legal perspective, Texit Coin is operating an unregistered investment scheme.

US residents, with a particular focus on Texas, are solicited to invest in TXC on the promise of a daily passive return. Said return is paid in TXC coin, which can be cashed out as long as Texit Coin funds withdrawals.

Courtesy of CoinMarketCap, we can see there was no interest in TXC until Gray attached an MLM opportunity to it early this year:

To establish whether or not Texit Coin’s MLM opportunity constitutes an investment opportunity, we need to apply the Howey Test.

The Howey Test uses four criteria to determine if an asset qualifies as an “investment contract” under U.S. securities laws.

To pass the Howey Test, an asset must involve an investment of money, in a common enterprise, with an expectation of profit derived from the efforts of others.

For Texit Coin as an MLM opportunity, we have:

  1. consumers investing USD equivalents in USDT or USDC (an investment of money) into Texit Coin (a common-enterprise);
  2. this is done on the promise of a daily “TXC distribution” (an expectation of profit); and
  3. daily TXC distributions are generated, managed and distributed centrally through Texit Coin (derived from the efforts of others).

Having established an investment contract, we can classify Texit Coin’s MLM opportunity as a securities offering.

This requires registration with the SEC. At time of publication neither Texit Coin or Bobby Gray (or any of his aliases) are registered with the SEC.

Offering unregistered securities to US residents constitutes securities fraud. Wire fraud, money laundering and conspiracy to commit both are potential additional charges.

The WSJ quoting then North Carolina District Attorney Anne Tompkins on the Liberty Dollar case is apt;

Attorney for the Western District of North Carolina, Anne M. Tompkins, described the Liberty Dollar as “a unique form of domestic terrorism” that is trying “to undermine the legitimate currency of this country”.

Additionally, with nothing marketed or sold to retail customers, the MLM side of Texit Coin operates as a pyramid scheme. This fraudulent business model violates the FTC Act.

For its part, on its website Texit Coin claims “Purchasing TEXITcoin is NOT an investment.”

This false assertion however is readily debunked by Bobby Gray’s own words elsewhere on Texit Coin’s website;

I’m wondering how many people watching got super-rich off Bitcoin & crypto…?

The cryptokids got rich. The bitcoin bro’s – the kids that grew up with this stuff, they crushed it.

But you missed it.

You didn’t just miss Bitcoin. You missed Litecoin. You missed DOGE. You missed Ripple, Monero, Ethereum, Cardano, Binance, and Shiba and hundreds of others!

Let’s imagine for a moment that you put a hundred bucks into each of these when they first made it to market. Not on day 1, but by the time you would have had a chance to grab some on a crypto exchange.

Add ‘em up? If you put $800 bucks in, they’re worth about $214,000 today, or a 214x return on your gamble.

Begs the question … which one is next?

Introducing TEXITcoin

Today TXC is brand new and dirt cheap.

In fact, you can get right now – 1000 TXC for about a hundred bucks.

Now pay attention, here’s the fun part….…if TXC achieves our goal and reaches the coin market cap “top 100” – that $100 of TXC is worth $16 thousand.

…if TXC is taken seriously, hits our next goal and reaches the top 20? That hundred bucks of TXC is now worth $80,000.

…top 10? $240,000.

…top 5? Your 1000 TXC are worth a cool million bucks.

Even when we reach number 5? Bitcoin is still 20x bigger than we are with more than a trillion dollars of value.

But suppose we take the top spot…? You turned that hundred dollars today into more than 20 million. Cryptorich.

Texit Coin itself is obviously pitching consumers on promises of passive riches. They’re specifically targeting consumers who feel they missed out on investing in bitcoin and other cryptocurrencies early.

Outside of Texit Coin’s website, Bobby Gray’s own Blockchain Mint website refers to Texit Coin as an investment:

Then you have Texit Coin’s promoters:

A typical response to BehindMLM pointing out securities fraud is a company implementing pseudo-compliance policies. This usually takes the form of “you can’t say this”, “avoid using these words” etc.

Unfortunately for Texit Coin and similar unregistered investment schemes, you can’t “this is not an investment” your way out of securities fraud.

The above examples of investment terminology are supplementary. As broken down previously, Texit Coin’s securities fraud is primarily rooted in the existence of an investment contract.

Prosecution of securities fraud in the US falls on the SEC. The DOJ follows up with related criminal charges but not always.

Whether that happens or not I can’t say. But in the present, something else for potential Texit Coin investors to consider is the fact it’s a Ponzi scheme.

The only verifiable source of revenue entering Texit Coin is new investment. Bobby Gray takes his cut (note this might be shared with other undisclosed insiders), a percentage of invested funds is used to fund MLM commissions, and the rest funds TXC coin withdrawals.

The closed-loop flow of new investment being used to fund TXC coin withdrawals is what makes Texit Coin a Ponzi scheme.

The MLM side of Texit Coin operating as a pyramid scheme is no coincidence. Texit Coin’s marketing explicitly states those who recruit new investors are rewarded – at the expense of investors who don’t recruit.

As the total sold hash power of our mine increases, the percentage that your personal hash power represents naturally decreases. Because the total daily mined output of TXC remains roughly the same, your individual TXC rewards will shrink as the mine grows—unless you grow with it.

This happens because our mining system is competitive. Everyone is on a level playing field, and no one—no matter how wealthy—can buy more than 9 seats (900 MH/s). To go beyond that cap, additional mining power must be earned through our rewards program.

At first, this might seem frustrating. But it’s intentional.

We’ve built the system so that the biggest TXC earners are the people who contribute the most to the project’s growth.

Why this is should be obvious;

As with all MLM Ponzi schemes, once promoter recruitment dries up so too will new investment.

This will starve Texit Coin of ROI revenue, eventually prompting a collapse.

The math behind Ponzi schemes guarantees that when they collapse, the majority of participants lose money.

I want to close by reaffirming that, just as Bobby Gray’s are, your personal politics and beliefs are irrelevant to Texit Coin being an MLM crypto Ponzi committing securities fraud.

Regardless of whether you support sovereign citizen nutjobs, what you think of the US government or whether you agree or disagree with existing financial law – none of it is an excuse or justification for fraud.

Comments asserting or reflecting as much will be marked as derail spam.