Green United (GREEN)
A Utah operation that the SEC says raised ~$18M selling 'Green Boxes'/'Green Nodes' that supposedly mined a 'GREEN' token on a 'Green Blockchain.' In reality GREEN was a non-mineable ERC-20 the founder pre-minted, and the boxes mined Bitcoin that wasn't given to investors.
Also known as: Green United, GREEN, Green Boxes, Set Power Free
Note: The SEC's charges are allegations; the case has been litigated rather than settled with admissions.
Summary
Green United, LLC (d/b/a "Green" / "Set Power Free"), founded by Wright W. Thurston, raised at least $18 million (April 2018 – December 2022) selling "Green Boxes" and "Green Nodes" that investors were told would mine a digital token, GREEN, on a purported decentralized "Green Blockchain" / power grid. [1][2]
The alleged fraud
Per the SEC, GREEN did not exist when sales began — it was an ERC-20 token Thurston deployed on Ethereum in October 2018 and distributed to investor wallets to create the appearance of mining. The "Green Boxes" were ordinary Bitcoin miners (S9 Antminers) that mined BTC kept by the company, and "Green Nodes" software didn't mine GREEN at all. Promoter Kristoffer Krohn, an SEC recidivist, allegedly made misrepresentations about GREEN's value and returns. [1][2]
Bracketed numbers refer to the numbered sources listed below.
People & entities involved
- Wright ThurstonFounderIndividualsFounder of Green United, which the SEC says raised ~$18M on a fake 'GREEN' mining story. He pre-minted GREEN as an ERC-20 token and sold 'Green Boxes' that actually mined Bitcoin kept by the company. Charged by the SEC for fraud and registration violations.
- Kristoffer KrohnPromoterIndividualsA promoter (and SEC recidivist) who sold Green United's 'Green Boxes,' allegedly acting as an unregistered broker and misrepresenting GREEN's value and returns. Charged by the SEC for fraud and registration violations.
Sources (2)
See also
- Bitcoin Latinum (LTNM)TokensA ~$16M token offering (SAFTs for 'Bitcoin Latinum' / LTNM) that the SEC charged in 2026 as fraud: founder Donald Basile falsely called LTNM 'the world's first insured digital asset' backed by an 'existing trust,' neither of which existed, and diverted investor funds for personal use (including a $160,000 horse).
- Loci (LOCIcoin)TokensA 2017–2018 ICO for 'LOCIcoin' tied to the InnVenn IP-search platform. The SEC charged Loci and CEO John Wise with fraud for raising $7.6M on false claims about revenue, headcount, and user base; Wise also misused investor funds. Settled with a $7.6M penalty and an officer/director bar.
- Blockchain Terminal (BCT)Tokens
This page was last updated on Jun 8, 2026. View revision history.