Blockchain and crypto currencies continue to be among the most hyped up in the tech-world. However, not many crypto currency ventures are successful. This week, the cryptocurrency startup promoted by Australian cricketer Michael Clarke reportedly shut down amidst investigation by Australian authorities. The Australian Securities and Investments Commission has confirmed it is making “some enquiries” about the cryptocurrency startup .

A few months ago, Clarke had tweeted his association with the startup, which was greeted with skepticism.

The cricketer’s endorsement widely panned by the media, commentators and experts, who questioned why the sports star would support a company operating in the highly volatile and emerging cryptocurrency space. At the time, SmartCompany wrote

“Well-known former Australian cricketer Michael Clarke has been roasted online after lending his endorsement to a Brisbane-based cryptocurrency company, with experts saying the alignment makes no sense.”

SmartCompany contacted Clarke but did not receive a response prior to publication. SmartCompany also contacted the Global Tech founders but did not receive a response prior to publication.