What happened to Michael Stollery's Crypto Dreams?
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What Happened to Michael Alan Stollery?
Michael Alan Stollery, also known as Michael Stollaire, was the founder and CEO of Titanium Blockchain Infrastructure Services (TBIS), a crypto startup that captured significant investor interest during the initial coin offering (ICO) boom. Founded in 2017, TBIS marketed itself as a blockchain-based infrastructure solution provider that aimed to replace traditional enterprise infrastructure systems.
The Rise of TBIS
TBIS gained traction quickly by tapping into the excitement around blockchain technology. Stollery and his company claimed to offer products that would revolutionize enterprise-level IT services. Their branding prominently displayed association with major clients like Boeing, PayPal, and IBM—although these claims were later found to be fabricated. The company raised approximately $21 million during its ICO.
Claims made on the TBIS website included endorsements and client lists that misled investors, a practice that is heavily scrutinized in the financial sector. Many of the project’s promotional efforts lacked technical depth or substance, but rode the wave of unbridled enthusiasm in the crypto space during that era.
Regulatory Scrutiny and Legal Issues
The U.S. Securities and Exchange Commission (SEC) soon took notice of TBIS. In swift action, the SEC charged Michael Stollery with fraud and halted the project. Federal investigators revealed that Stollery used investor funds for personal expenses, including paying for credit card bills and home renovations.
In testimony and admissions made during the legal proceedings, Stollery admitted to falsifying portions of the TBIS whitepaper, fabricating testimonials, and deliberately misleading investors. His trial led to a guilty plea in relation to securities fraud, resulting in both financial penalties and restrictions on future business activities.
The Aftermath and Broader Implications
Stollery’s fall stands as a cautionary tale from the speculative ICO era. His case added to a growing list of enforcement actions that followed the collapse of several high-profile crypto projects that lacked transparency or technical viability. It contributed to the broader discussion of crypto-related frauds and regulatory gaps.
Much like other controversial figures in the crypto space—such as Alex Mashinsky and Egor Lavrov—Michael Stollery became symbolic of the unchecked enthusiasm that defined the early days of cryptocurrency investments without proper due diligence or oversight.
Where Is He Now?
Following his legal issues, Stollery maintained a low profile. There has been no major return to the public blockchain space under his name, and federal constraints effectively limit his role in any securities-based ventures, including those involving crypto assets. As regulatory bodies continue to shape the future of digital assets, cases like his remain reference points for oversight and compliance standards.
With increased attention on transparency, legal compliance and governance, decentralized projects today—such as those explored in Metis or STORJ protocol—are navigating a more scrutinized environment. The lessons from the TBIS downfall remain relevant for both investors and developers in this evolving crypto ecosystem.
If you're considering investing or participating in any crypto-related projects, it's essential to do thorough due diligence and consider platforms with stronger regulatory standing. Consider exploring vetted exchanges such as Binance for a more secure experience.