Embattled headphone manufacturer Monster Products Inc. has applied to U.S. regulators to launch a giant $300 mln Initial Coin Offering (ICO), a Securities and Exchange Commission (SEC) filing signed May 25 confirms.
Monster, which began trading in 1978 but in recent years became infamous for signing away the rights to its Beats headphones, now plans to issue 500 mln Monster Money Network (MMNY) tokens, selling 60% in its ICO. The SEC filing represents a registration of MMNY tokens as possible securities under U.S. law.