<h1>Crypto presale raises $20M for AI arbitrage token; securities, consumer protection, disclosure, and marketing compliance risks</h1> A crypto presale for an AI-enabled arbitrage token has raised over $20 million in an early round, offering tokens at specified prices with a projected high ROI and a promotional giveaway for purchasers above $100. The issuer claims cross-chain trading functionality, community governance, staking rewards, audited smart contracts, and automated profit distribution. Legally relevant issues include potential securities-law exposure from ROI and investment-pitch language, consumer-protection and anti-fraud considerations around promotional guarantees, accuracy and scope of the audit claim, disclosure obligations regarding risks and tokenomics, and regulatory compliance for fundraising, token distribution and marketing in applicable jurisdictions.