North American mining company Layer1 faces false or legitimate claims

North American cryptocurrency mining company Layer1 has been urging investors to "gang up" of its financial products, Block reports. Layer1 said in his 2019 business plan that former Canaan Creative co-founder Liu Xiangfu is the company's “partner”. However, Liu Xiangfu himself denied the news and explained that he and the Layer1 group were just "friends" and had not joined the company's activities. Additionally, in October of last year, multiple media reported that Layer1 had finalized the new $ 50 million budget. However, according to the SEC filing for October 2019, Layer1 only raised $ 23.6 million against its goal of $ 50 million at the time. In fact, Layer1 is set to close in January. Both laws state that this can be a basis for the trader if he has made a decision based on incorrect information. Indeed, the Securities and Exchange Act of 1933 explicitly prohibits misrepresentation in commerce.