Helium founder responds to SEC's lawsuit against Nova Labs: will actively defend

Odaily Star Daily News, the US SEC sued Nova Labs, the creator of the Helium network, accusing the company of selling unregistered securities and misleading investors, which is the latest and likely final enforcement action taken by outgoing chairman Gary Gensler. The lawsuit, filed on Friday, targets three tokens related to Helium: Helium Network Token (HNT), Helium Mobile Token (MOBILE), and Helium Internet of Things Network Token (IoT). The agency claims that these tokens were sold as unregistered securities. The lawsuit also accuses Nova Labs of misleading investors about several high-profile partnerships. Helium founder Amir Haleem released a defiant message last Sunday, calling the lawsuit “the final fight against the failed crusade of American cryptocurrency companies”. “The SEC has wasted two years of our time and millions of dollars pursuing any claims they could think of… I rarely get angry, but this is a series of blood-boiling events,” Haleem said. Regarding the allegations of misleading investors about Helium, Haleem said, “We have dealt with this issue in the past and have worked with every Helium company mentioned in the lawsuit.” “We will actively defend ourselves and continue the SEC’s dismal losses and outright lies under Gensler’s leadership,” Haleem concluded, “This is not only true for us, but for all DePIN projects. If the Helium hotspot is deemed a security, it will put all DePINs in danger. We will not allow this to happen.”