So with all that, at best, an incredibly scummy move from a team that already has a bad rep, at worst, a slam dunk for anyone wanting to get them for fraud/misrepresentation especially because of the publicly marketed tie to potential future equity, referred to by Bags quite literally as 'stocks' onchain (hint: you can't do that)
If you market a new product as:
'company that is automatically incorporated when a token is launched,'
and that token is verifiably launched by THE SAME COMPANY (Bags) that created this product, regardless of the legality around whether these are securities or not, that is pretty strong grounds for legal action.
Will anything happen? No almost definitely not, but letting these things get swept under the rug is the reason why crypto has devolved into the hellhole it is today.
I would love for
@finnbags to somehow prove me wrong or give a reasonable explanation. I'll assume no response as an indicator of guilt