I'll chime in...
On April 2, 2021, HUMBL Financial launched its BLOCK Exchange Traded Indexes (ETXs), available to customers with accounts on Coinbase Pro, Bittrex, and Binance. On April 16, 2021, Brian Foote announced that HUMBL had established the necessary banking relationships to process app payments. The very next day, April 17, 2021, Gary Gensler was appointed as Chair of the SEC. On April 23, 2021, I began testing the HUMBL app with others, and it functioned as described, with banking receipts confirming these transactions. On May 20, 2021, Gensler publicly declared that the SEC would enforce rules "aggressively" against bad actors, signaling a robust enforcement agenda. Under Gensler’s leadership, the SEC pursued approximately $7.37 billion to $10 billion in crypto-related enforcement actions between 2021 and 2024. In May 2021, Hindenburg Research published a critical report on HUMBL, followed by a lawsuit. In response, Brian Foote stated, “We can’t afford to blow through stop signs,” likely expressing frustration with the lawsuit and Gensler’s aggressive regulatory stance. Sometime later HUMBL dives into darkness on ETXs and app payments, later pivoting to other business models, avoiding the wells notice threat, putting the three core business models on hold for years.
Four years later, we remain resilient, bearing the marks of past challenges. With a new crypto-friendly administration, fresh capital, new ownership, and renewed optimism, we are poised for a bright future.
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