<h1>Legal risks of $2.7M token presale: securities exposure under the Howey test, disclosure, privacy, IP, and compliance</h1> A blockchain-based project announced completion of over $2.7 million in presale funding and advancement of its token sale, touting significant gains for early purchasers, utility features (staking, governance, performance rewards), decentralized AI-driven analytics, and strategic partnerships. Legally relevant issues include potential securities-law exposure depending on token characterization, materiality and accuracy of marketing claims (including projected listing prices and performance), adequacy of disclosure to investors about risks and centralized elements, data-privacy and IP allocation in agent-driven services, and regulatory compliance for listings and cross-border fundraising. Investors should evaluate contractual terms and regulatory risk.