Unicoin to Acquire Majority Stake in Diamond Lake Minerals Amid SEC Allegations

According to PANews, cryptocurrency project Unicoin, currently facing charges from the U.S. Securities and Exchange Commission (SEC), has announced plans to acquire a 51% stake in Diamond Lake Minerals. The acquisition, valued at over $70 million, aims to restructure the company into 'DiamondLake' and implement a corporate treasury strategy centered around emerging altcoins, similar to Strategy's Bitcoin reserve model. The transaction is expected to be completed within 20 days. Previously, the SEC accused Unicoin of illegally raising over $100 million by exaggerating asset values and making false claims. Unicoin's CEO has denied these allegations and refused to settle with the SEC.