Every dated entry below links to a primary source — an official filing, a news outlet, or a specific article — so you can verify it yourself rather than take our word for it. Entries marked contested are allegations, not settled fact.
Years before TEXITcoin, Robert "Bobby" Gray and his then-wife filed Chapter 7 bankruptcy in the Eastern District of Texas, listing $395,525.56 in debt against $235,516 in assets — including an unpaid $84,979 personal loan — after two prior technology-consulting ventures and a cheesesteak restaurant had folded.
Source: Disruption Banking, "Bobby Gray's Star Lawyers Can't Fix TEXITcoin's Math Problem"
Texas Precious Metals LLC sued Gray's company (then doing business as "Patriot Coins," under the entity d'Anconia Copper LLC) for stamping a copyrighted Texas silhouette onto bullion rounds. The case settled with prejudice in November 2023 on undisclosed terms.
Source: Disruption Banking, "Bobby Gray's Star Lawyers Can't Fix TEXITcoin's Math Problem"
TXC begins trading, including listing on the Bitmart exchange. The project is promoted as a Layer-1, proof-of-work cryptocurrency pitched as "mined in Texas," built on a codebase derived from Litecoin. (As later entries below show, that Texas-exclusive framing no longer describes the operation.)
A Pennsylvania court enters a default judgment against d'Anconia Copper LLC and Robert Gray personally for $44,530.56, owed to an equipment-finance company. Gray never answered the complaint or contested it.
Source: Disruption Banking, "Bobby Gray's Star Lawyers Can't Fix TEXITcoin's Math Problem"
Disruption Banking publishes the first in a series questioning TEXITcoin's claimed staff and partnerships.
Source: Disruption Banking, "Is TexitCoin Too Good to Be True?"
A follow-up investigation examines TEXITcoin's marketing claims, including sponsorship and mining-facility claims it says don't hold up, alongside a broader "secessionist" sales pitch.
Further reporting describes cash burn, hardware problems, and the MLM-style logic underlying the project's growth model.
Source: Disruption Banking, "The Shocking Truth Behind TEXITcoin's Collapse"
After sustained investor questions, Gray confirms a security incident that had reportedly occurred roughly a year earlier without being disclosed at the time.
Source: Disruption Banking, "TEXITcoin Founder Finally Admits Year-Old Insider Hack"
Consumer-advocate reporting describes TEXITcoin announcing a "Phase Three" that expands referral commissions and recruitment incentives, moving further toward a multi-level-marketing model.
Source: CoinMLS, "Texitcoin Announces Phase Three And It's…"
The Texas State Securities Board issues Order No. ENF-26-CDO-1893 against TEXITcoin, MineTXC, Blockchain Mint, and founder Robert J. "Bobby" Gray, alleging the fraudulent offer and sale of unregistered securities — cryptocurrency "Mining Packages" sold as a "seat on the rocket ship" promising daily returns through an MLM-style structure.
Sources: Texas State Securities Board, official release · the order itself (PDF) · WFAA · FOX 26 Houston
The day after the order, Gray hosted a public call — reportedly from Hong Kong, which has no extradition treaty with the United States — and continued speaking to prospective and existing investors rather than pausing operations.
A detailed technical explainer walks through why regulators view Mining Package rewards as tied to Gray's managerial efforts rather than real, verifiable mining output — the core test (from SEC v. Howey) for whether something is an investment contract under Texas and federal securities law.
Source: CoinMLS, "The TEXITCoin Scam Cease & Desist Order Explained"
Independent reporting tracks two additional projects tied to Gray and TEXITcoin's leadership and office infrastructure — an early version of Iskander and the Nectar Pay payments venture — continuing to launch or operate even as the Texas order remained in force. Neither was named in the original cease-and-desist order.
Sources: CoinMLS on Iskander & the IDMC · CoinMLS on Nectar Pay
On a "Texit Coin Miner Update" webinar, Gray discloses that on February 11, 2026 — the same day as the Texas order — he received SEC subpoenas covering TEXITcoin, MineTXC, Blockchain Mint, and himself personally, and that his wife, father, daughter, and other insiders and promoters were subpoenaed too. He also discloses a prior personal criminal record for "fleeing and eluding." As of this writing, neither the SEC nor DOJ has taken public action, and a subpoena is an investigative step, not a finding of wrongdoing.
Source: BehindMLM, "Bobby Gray Confirms SEC Investigation Into TexitCoin"
Weeks before Quinn Emanuel's motion, a Fort Worth law firm domesticates the 2024 Pennsylvania default judgment against Gray in Tarrant County, Texas, and mails notice to three separate Gray addresses in McKinney.
Source: Disruption Banking, "Bobby Gray's Star Lawyers Can't Fix TEXITcoin's Math Problem"
With Quinn Emanuel Urquhart & Sullivan LLP now representing TEXITcoin and Gray, the respondents file a Motion for Summary Disposition (SOAH Docket No. 312-26-14427), arguing MineTXC operated as a mining pool rather than a security and asking the administrative law judge to resolve the case before the scheduled August hearing.
Source: GlobeNewswire, "Quinn Emanuel Seeks Early Dismissal of Texas Securities Case Against TEXITcoin"
Gray establishes Iskander Networks (ISK) as a Wyoming Decentralized Unincorporated Nonprofit Association (DUNA), running essentially a copy of TEXITcoin's code but mined in Dubai. Reporting describes cross-mining between the two networks and paid influencer promotion. An AI-generated video on the project's site has Gray appear as a cartoon armadillo addressing the Texas order.
Source: Disruption Banking, "Bobby Gray's Star Lawyers Can't Fix TEXITcoin's Math Problem"
Gray acknowledges a new "exploit" on camera without specifying what system was affected, what it cost, or whether customer funds moved — the third or fourth admitted security incident in about a year. The same reporting cites analysis putting MineTXC's actual mining capacity at roughly 29% of the hash power it has sold. Gray is separately scheduled to appear that week at a conference in Toronto — a jurisdiction with a U.S. extradition treaty, unlike Hong Kong, Dubai, or Singapore, where he has recently been seen.
Source: Disruption Banking, "Bobby Gray's Star Lawyers Can't Fix TEXITcoin's Math Problem"
As of this writing, no ruling has been issued on the motion to dismiss, and the TSSB's underlying fraud and unregistered-securities allegations have not been decided on the merits. The SOAH evidentiary hearing remains scheduled for August 17, 2026. We'll update this page as filings become public.
Entries above draw on the Texas State Securities Board's own filings and press releases, independent news coverage (WFAA, FOX 26 Houston, GlobeNewswire, Disruption Banking), and analysis published by consumer advocate CoinMLS. Where an entry reflects one party's characterization or an author's legal analysis rather than an adjudicated fact, it's labeled "analysis." Entries labeled "background" are court records and public filings that predate TEXITcoin itself. The underlying enforcement case is active; allegations in a cease-and-desist order are not the same as a final finding of wrongdoing, and TEXITcoin is actively contesting them.