Riot Blockchain, the cryptocurrency company whose stock price skyrocketed after changing its name, revealed that the Securities and Exchange Commission has begun an investigation that could result in a stop order preventing the company and stockholders from selling shares under particular registration statements. In its second quarter earnings, released Tuesday, the company said it received a letter from the SEC on July 30 saying the agency has begun the action "Pursuant to Section 8(e) [of]...

As bitcoin hit record highs in late December, a hot new stock was making news on a daily basis. Riot Blockchain's stock shot from $8 a share to more than $40, as investors wanted to cash in on the craze of all things crypto. But Riot had not been in the cryptobusiness for long. Until October, its name was Bioptix, and it was known for having a veterinary products patent and developing new ways to test for disease. That might sound somewhat like the type of newly minted blockchain company that...