October 1, 2019 SEC reaches $225k settlement with Sia over $120k 2014 unregistered securities offering.

Nebulous, the principal developer of the Sia cloud storage network, sold Sianotes to the public through Bitcointalk in 2014, prior to the Ethereum ICO. Sianotes were converted to Siafunds upon network launch in 2015, which grant holders a share of total network revenue.