The thinking behind going after Mint, according to insiders: target a high-profile celebrity deal and make an example of it.
Indeed, some regulators have a “strategy of going after public figures,” Columbia law professor and securities expert John Coffee notes. “Now, everyone in Hollywood will notice.”collecting $1.26 million to settle allegations over a ‘pump and dump’ cryptoMint, founded in California in 2016, is a so-called mobile virtual network operator, or MVNO, meaning the company piggybacks on the infrastructure of another network — in Mint’s case T-Mobile.
“The MNVOs were driving prices down because they could drive mean and lean,” he added. “The only reason it’s been wildly successful is because they’re offering better value to customers… Now, big carriers are just buying them up and raising prices instead of trying to compete.”
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