John O’Rourke III has reached agreement with the U.S. SEC over an alleged pump and dump scheme involving penny stocks.

A recent case undermined the arguments supporting the SEC’s injunction, allegedly preventing Twetch from issuing further tokens.

The California-based startup now owes $16 million after it refused to response to a lawsuit by the SEC.

The exchange has already registered with the SEC and expects to hold its offering next month.

Newly uncovered court documents show where Telegram attracted massive investments.

The new proposed guidelines could provide guidance for initial coin offerings and ETFs.