RATE Group | EF Hutton banks on cryptocurrency to fuel latest revival
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EF Hutton banks on cryptocurrency to fuel latest revival

19 Sep EF Hutton banks on cryptocurrency to fuel latest revival

Posted at 03:18h in Cryptocurrency News by

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“When EF Hutton talks, people listen … and make coin.”

That is the catch phrase EF Hutton is using in its latest attempt at a comeback, this time as a fintech company trading in everyone’s favorite buzzword — cryptocurrency.

The company using the 114-year-old brokerage’s name plans to launch MeggaCoin on Oct. 1 in an effort to raise a reported $60 million for its parent company, HUTN Inc.

As with a lot of cryptoschemes out there, it’s hard to figure out how exactly this will work. Users will pay a one-time $5 fee to set up an EF Hutton account, then will receive MeggaCoins for the time they spend using a variety of MeggaLife social media apps. If users bank 20 million coins, they can redeem them for cash held by MeggaTrust, “an independent trust that is overseen by independent third-party trustees,” according to a press release. MeggaTrust in turns generates ad revenue from the social media apps.

“MeggaCoin has the potential to transform lives” EF Hutton CEO Chris Daniels…

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