PANews reported on June 23 that according to CoinDesk, Unicoin, a crypto project accused by the SEC, announced that it would acquire a 51% stake in Diamond Lake Minerals and reorganize it into "DiamondLake" to promote a corporate treasury strategy centered on emerging altcoins, similar to Strategy's Bitcoin reserve model. The transaction is valued at over $70 million and is expected to be completed within 20 days. Previously, the SEC accused Unicoin of illegally raising over $100 million by exaggerating asset values and false advertising. Unicoin CEO refuted the allegations and refused to settle with the SEC.