The Texas State Securities Board (TSSB) officially dropped its claim against the Apertum Foundation and its senior advisor, Josip Heit, today that the Apertum token and DAO1 decentralized finance (DeFi) platform were unregistered securities.
The regulator has now withdrawn these claims, confirming that neither the token nor the platform is considered an investment contract under U.S. law.
Courtroom Battle Ends after Months
According to the press release, the Apertum Foundation was represented by Quinn Emanuel Urquhart & Sullivan, LLP, the largest business litigation law firm in the world. The case lasted for months, during which Apertum fought hard against the allegations. On 31 July 2025, the TSSB formally dismissed its case, removing the emergency restrictions placed on Apertum’s operations in Texas.
Per the Court document, the foregoing findings of fact constitute sufficient bases for setting aside the Emergency Order as to all Respondents pursuant to Section 4007.104(e) of the Securities Act.
The final order signed by the securities commissioner, Travis J.Iles, states, “ It is therefore ORDERED that the Emergency Cease and Desist Order (ENF-25-CDO-1889) is set aside.”.
Brief Info on Apertum
Apertum runs a Layer‑1 blockchain built on the Avalanche ecosystem, meaning it has its own main blockchain that supports other projects. Its native $APTM token is traded on major cryptocurrency exchanges like MEXC, BitMart, P2B, and LBank, giving access to more than 80 million active traders worldwide. Apertum is also integrated with CoinMarketCap, a platform with over 340 million monthly visitors.
The network has over 55,000 active blockchain users and has “burned” more than $3.5 million worth of tokens, permanently removing them from circulation to reduce supply. It has also distributed around $25 million worth of $APTM tokens through its DeFi platform. In July 2025 alone, the price of $APTM rose by more than 140%, driven partly by news of the legal victory.
In the press release, Josip Heit said, “From Day One, the Apertum Foundation has offered a compliant, safe platform and cutting‑edge technology. We promised to defend ourselves aggressively against the Texas Securities Board’s mistaken allegations, and we have now been vindicated. This dismissal confirms we did nothing wrong.” He also thanked the community for its strong support.
According to Avi Perry, a co‑chair of the Securities Litigation Group at Quinn Emanuel, “This case should never have been brought, and we fought hard to reach the right result. The Texas Securities Board’s allegations were incorrect, and we are thrilled for our clients that the meritless cease‑and‑desist order against them has been withdrawn.”
With the legal case now over, Apertum says it can fully focus on scaling its DeFi platform and expanding adoption of its technology without the burden of an emergency ban.
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