New Jersey Sues Blockchain Firm for Unregistered $46 Million ICO


As regulators pine over the safety of Libra, recent crypto-related crimes are sure to keep them on edge. New Jersey Attorney General Gurbir Grewal filed a lawsuit on Wednesday against Princeton-based company, Pocketinns Inc. Pocketinns and their president, Sarvajnya Mada, allegedly failed to register with the Bureau of Securities before selling $400,000 of unregistered securities. Mada sold the...

These Two Blockchain Start-Ups Pulled an $8 Million ICO Exit Scam

ICO, ICO fraud

By CCN: Two blockchain companies, JoyToken and RepuX, have been dissolved, according to UK business records. Both companies were founded and ICO-funded on the direction of the same people. A Reddit user broke down the scandal for r/CryptoCurrency, hoping someone might have more information. Andrew MacDonald's JoyToken Winnings JoyToken was to be an “ecosystem” for gambling development. Game...

Toxic ICO Taxes: Thailand Stock Chief Slams Regulators for Crippling Crypto-Friendly Startups

Thailand, ICO,

By CCN.com: Thai startups raising funds by issuing digitized equities/stocks pay more taxes than an average business, according to Prinn Panitchpakdi. The governor of the Stock Exchange of Thailand (SET) said initial coin offering (ICO) startups typically pay 7 percent in value-added (VAT) and a 20 percent in corporate tax. At the same time, the Thai tax authorities have exempted technology...

What is an STO (Security Token Offering) & 10 Reasons Why It Will Have a Massive Impact


The world of startup financing took a major turn in 2017 as initial coin offerings (ICOs) burst onto the scene. In 2017 and 2018, more than $14 billion flowed into blockchain projects as investors looked to capitalize on crypto euphoria and the low barriers to entry made possible by the ICO funding model. It has been less than a year since the market for ICOs went bust, but the impact of the new...

California's Thor Blames Regulators for its Own $21 Million Demise


Regulators can be blamed for just about everything. The team behind the Thor token is pointing the finger at them for the shuttering of their own operations. However, given Thor raised an impressive $21 million for its crypto project just last year, the excuse is falling on many deaf ears. There was speculation that something was amiss at the company before it made its announcement this week. For...

Mismanagement and Misdirected Funds: The '21 Million' ICO Story

ICO, Chainstarter, 21 million

A couple years ago, a person named Nick Ayton and his partner, David Lofts, launched an ICO to fund a television show. They then went on to found Chainstarter, which helps ICO-backed projects get off the ground. Chainstarter's Use of 21 Million ICO Money A deep-dive by Cointelligence paints a much darker picture of the project and its goals. On Yavin, a researcher at Cointelligence, tells the...

Thailand SEC Approves First-Ever Foreign ICO Screening Portal


Thailand Securities and Exchange Commission (SEC) has approved a portal that would screen Initial Coin Offering projects (ICOs). The securities regulator told the Bangkok Post they interviewed "roughly" 7-8 portals for the job of selecting ICOs, conducting due diligence, reviewing smart contract codes, and verifying the know-your-customer process. Eventually, the SEC's board of directors approved...

Microsoft Wants to Help Make Your ICO a Success

microsoft Blockchain

ICOs are not dead. Not when one of the world's biggest tech corporations is venturing into it. Microsoft Azure, a cloud computing service created by Microsoft, recently listed Stratis in its products' section. The platform, created by London-based Stratis Group, offers a web-based application that enables initial coin offering projects to manage token distribution. It facilitates a secure and...

Op-Ed: Initial Exchange Offerings Restore Agility to Blockchain’s Original Fundraising Model


One of the most groundbreaking concepts to emerge from blockchain over its short lifespan has been the initial coin offering, or ICO. In this article, the author will discuss an emerging trend called "Initial Exchange Offerings" or IEOs. Reading about blockchain or cryptocurrency in any newspaper will allude to this unique type of public offering, which draws parallels with its cousin the IPO. An...

US To Provide Regulatory Clarity On Crypto: Token Recovery In Sight?


According to a report released by Kate Rooney, a markets reporter at CNBC, two congressmen -- Warren Davidson and Darren Soto -- are preparing a bipartisan bill to exclude crypto from the country’s securities law. The bill, entitled “Token Taxonomy Act,” is set to be introduced to the House in the months to come in an attempt to facilitate the growth of the cryptocurrency sector of the U.S. Could...

French Financial Watchdog Blacklists More Cryptocurrency Websites


The French financial watchdog, the Financial Markets Regulator (AMF), has blacklisted four more cryptocurrency websites in their ongoing mission to stamp out unauthorized crypto firms. As news of riots in France batter the world news, the AMF is also using strong-arm tactics to keep then nation’s crypto sector honest and in-check with their latest move. Official Statement from the AMF on Friday...

Dallas Crypto Startup Ordered to Repay Investors $2.7 Million on Defrauding Charges


The Dallas-based crypto startup AriseBank has been ordered to repay investors to the tune of $2.7 million to fix allegations that the firm was defrauding their investors. Authorities have finally put an end to the ongoing AriseBank saga that has been hanging over the heads of the startup’s founders Stanley Ford and Jared Rice for almost a year. Crypto Startup Fined by the SEC According to the...

Bitcoin and Ethereum Drop 3%, is the Bottom Still in Sight?

cryptocurrency bitcoin crypto ethereum ripple

Over the past 24 hours, the prices of both Bitcoin (BTC) and Ethereum (ETH) have fallen by more than three percent against the U.S. dollar. The cryptocurrency market experienced an abrupt $4 billion drop in its valuation, by just about 3.5 percent. While major cryptocurrencies struggled to demonstrate signs of a potential corrective rally, small market cap digital assets and ERC20 tokens plunged...

Does the Fall of $158M Crypto ICO Show Necessity of Strict Regulation?

bitcoin regulation

Recently, Sirin Labs, an initial coin offering (ICO) project that raised $158 million during the bull market of 2017, made the headlines for its controversial pivot from a hardware-based business model to supplying software to mobile phone manufacturers. According to a report released by Bloomberg, nearly a year since the ICO, the company has not been able to generate any profit and its mobile...

7 Major EU Countries to Go Big on Blockchain: What It Means for Crypto

France ICO

On December 4, seven EU countries led by Malta and France have established a group called the “Mediterranean seven” to encourage and promote the usage of blockchain technology. In the months to come, the seven countries that include France, Italy, Spain, Malta, Cyprus, Portugal and Spain, will work to implement the blockchain in education, transport, mobility, shipping, Land Registry, customers...

Could South Korea Follow Japan in Allowing Private Crypto ICOs?

South Korea bitcoin cryptocurrency

On November 26, the Financial Services Agency (FSA) of Japan held an internal meeting to discuss the possibility of allowing private crypto initial coin offering (ICO) projects. Nikkei exclusively reported that local financial authorities are actively exploring the legalization of ICOs for institutional investors and accredited investors, as long as they are lawfully conducted within the...

SEC's Next Move: Social Media Influencers Who Promoted Crypto ICOs

SEC ICO Cryptocurrency

The U.S. Securities and Exchange Commission (SEC) is actively cracking down on crypto initial coin offering (ICO) projects and a top official said earlier this year that dozens of cases are pending. The next wave of enforcement by the SEC, stimulated by its recent settlement with professional boxer Floyd Mayweather and music producer DJ Khaled, is expected to be on social media influencers who...

Court Orders Swiss Crypto Mining Firm Envion to Shut Down

SEC Woodbridge Group Ponzi Scheme

Envion AG, a crypto-based firm that aimed to combine cryptocurrency mining with green power, has been shut down by the cantonal court of Zug, Switzerland. The company was reportedly dissolved due to an alleged unauthorized Initial Coin Offering (ICO) on November 28, local German news outlet Handelsblatt reports. Envion was established to serve as an off-grid mining company which makes use of...

Cash-Strapped Portuguese Football Giant Sporting Ponders ICO


Sporting Clube de Portugal (SCP), a popular Portuguese football club, is reportedly considering launching an initial coin offering (ICO) as an alternative way to raise funds, at a time in which it’s struggling to raise them through a bond issue. According to local news outlet Dinheiro Vivo, the club’s vice-president Francisco Salgado Zenha claimed the organization is currently pondering the...

Lawyer: Phase Two of SEC's Enforcement is Slow, Painful Grind For Crypto

bitcoin price grind ethereum

According to Kobre & Kim government enforcement defense and securities litigation attorney Jake Chervinsky, the second phase of the US Securities and Exchange Commission (SEC)’s enforcement on crypto is a painful and slow grind for the sector. Earlier this week, the US SEC cracked down on Paragon and AirFox, two initial coin offering (ICO) projects that raised $12 million and $15 million...

Crisis: After $30 Billion Invested, Most Crypto ICOs Have Nothing to Show

bitcoin empty block crypto

Over the past two years, initial coin offering (ICO) projects in the crypto market have raised more than $30 billion. Yet, most ICO projects have little to show, especially pertaining to user growth, blockchain adoption, and overall user activity on decentralized systems. It Will Only Get Worse A handful of tokens have demonstrated success in establishing clear vision, growth paths, and valid use...

How SEC's Paragon Ruling Could Send Many Crypto ICOs to Bankruptcy


The recent crackdown on two initial coin offerings (ICOs) Paragon and AirFox by the U.S. Securities and Exchange Commission (SEC) could lead to many blockchain and crypto projects declaring bankruptcy in the coming months. As CCN reported on November 16, Paragon and AirFox were ordered to pay a $350,000 fine to the U.S. SEC and refund investors who participated in the token sale. The problem for...

Abu Dhabi Bourse Issues Cryptocurrency Thought Paper

Abu Dhabi Securities Exchange

Abi Dhabi Securities Exchange (ADX) on Tuesday issued a paper on crypto and distributed ledger infrastructure, Emirates News Agency reported. The "thought paper," according to the $135 billion Bourse, identifies the technical and operational standards required to issue crypto-assets. It specifically assists financial institutions that are undergoing a transition from conventional asset issuance...

Beyond Crypto Friendly: Swiss Bank Helps Clients Participate in ICOs

Zurich, Switzerland cryptocurrency bitcoin ICO

Here’s something we don’t hear every day: a Swiss bank has opted to enable its clients to participate in initial coin offerings easily. The bank, Swissquote, has previously allowed customers to trade in cryptos. This is, to say the least, an unusual service for a fiat banking institution. Additionally, Swissquote offers traditional FOREX trading and the range of services that traditional banks...

Caspian ICO Raises $19.5 Million for Institutional Crypto Trading Platform

Ben Ingram bitcoin.com.au cryptocurrency Australia

Cayman Island-based fintech startup Caspian has completed an eight-figure ICO ahead of schedule. Founded earlier this year, Caspian ties together the biggest cryptocurrency exchanges in a single user interface. The full-stack crypto asset management platform also offers compliance, algorithms, portfolio management, risk, and reporting. Its co-founders David Wills and Robert Dykes plan to channel...

5 Highlights from Bitcoin-Bashing NYU Economist's Senate Testimony

nouriel roubini bitcoin

This morning, the U.S. Senate Committee on Banking, Housing, and Urban Affairs is holding a hearing on cryptocurrency and blockchain technology, featuring testimony from New York University economist Nouriel Roubini. Roubini, as CCN reported, has been bashing bitcoin since before most of the mainstream public had become familiar with the terms “cryptocurrency” and “blockchain,” and -- true to...

EU Watchdog Will Evaluate 'Every' ICO for Potential Regulatory Push

european union eu cryptocurrency ico regulation

The European Securities and Markets Authority (ESMA) is assessing every single ICO operating within its jurisdiction, Reuters reported on Oct. 8. ESMA chair Steven Maijoor — who warned crypto investors in Jan. 2018 that they could potentially lose all of their funds by investing in initial coin offerings (ICOs) — said that he had been observing the current regulations that can fit an ICO.  He...

Regulation for Legitimacy: South Korea Nears ICO Legalization

South Korea Crypto

Min Byung-Doo, a member of the country's governing Democratic party and the chairman of Korea's National Policy Committee, has strongly encouraged the government to legalize initial coin offering (ICO) and impose better crypto-related regulatory frameworks to legitimize the local market. “Regulation is not bad. Regulation is necessary, it is the only way to legitimize the market and allow...

How to Write an STO White Paper: A Step-by-Step Guide (Part I)

STO whitepaper

The cryptocommunity's collectively rising interest in STOs is leading to an increasing demand for STO white paper writers. Due to the similarities with securities offerings, STO white papers must follow certain guidelines to stay on the right side of the law. While there are multiple ways of checking all the boxes, the following guidelines are the simplest way to achieve them. An  STO white paper...

Tezos Surges 50% in a Week Ahead of Scheduled Mainnet Launch on Monday

EOS, EOS Price

Tezos, the eighth largest initial coin offering (ICO) in history, is launching its mainnet on Monday. Ahead of its mainnet launch, the price of XTZ, the native token of the Tezos network, surged by more than 50 percent. Since September 9, XTZ has increased by over 52 percent from $1.15 to $1.75, prior to its highly anticipated mainnet launch. Investors in the cryptocurrency market have been...

One of the World's Wealthiest Football Clubs is Launching a Cryptocurrency


French soccer giant Paris Saint-Germain football club (PSG) will launch its own cryptocurrency with a token offering  that aims to incentivize its supporters over a blockchain. The development sees a new partnership between top French Ligue 1 club, Paris Saint Germain (PSG) and blockchain company Socios.com which is based in Malta. The partnership is based on the ‘socios’ concept that already...

SEC Smacks ICO Fraudster with $30,000 Fine, Lifetime Trading Ban

SEC ICO Cryptocurrency

The U.S. Securities and Exchange Commission (SEC) has issued an officer and director bar, a penny stock bar, and a penalty of $30,000 to a fraudulent ICO founder today. According to the official press release, David T. Laurance was previously found guilty for taking part in deceitful security offerings. Laurance's LinkedIn profile shows that he is the president and CEO of oil drilling...

Did ICOs Cause Ethereum to Drop by 44% in 2 Weeks by Dumping on the Market?

Ethereum price ether ETH

Within a period of two weeks, from August 1 to August 14, the price of Ether, the native cryptocurrency of the Ethereum network, dropped by 44 percent. In 14 days, the price of Ethereum plummeted from $470 to $260, reaching its lowest point in 2018 by falling below the $300 mark for the first time since early November, 2017. The entire cryptocurrency market experienced a steep decline in...

ICOs Raised $8.3 Billion Last Quarter, but Most of them Were Abject Failures

bitcoin price target

Over half of all initial coin offering (ICO) projects failed to complete their crowdfunding in the second quarter of 2018, revealed cryptocurrency data firm ICORating in its latest report. ICOs Raised a Record $8.3 Billion in Q2, But Most Missed Their Targets The independent ICO analysis portal found that 55% of the ICOs failed in Q2 2018. That is 5% more than the number of failed ICO projects...

Crypto Downtrend Continues With Bitcoin at $7,680 in Weak Recovery Attempt


On August 1, the valuation of the crypto market fell to $270 billion as the price of Bitcoin declined by more than 7 percent from $8,300 to $7,500. Low Volume Over the past 24 hours, Bitcoin and other major digital assets have slightly rebounded, adding $3 billion to the valuation of the crypto market. However, the expected short-term recovery from yesterday’s $30 billion drop failed to add a...

Korean Shipwreck ICO Under Investigation for Possible Fraud


A South Korean treasure-hunting company called Shinil Group recently made headlines across the world once they announced an ICO after making the big discovery of a sunken Russiani battleship carrying gold worth $130 billion. Team members from the company posted a YouTube video on July 16th showing how they were able to allegedly find wreckage of the Dmitrii Donsoki, a Russian cruiser scuttled in...

Another ICO Hacked: KICKICO Loses $8 Million After Smart Contract Breach


KICKICO, an initial coin offering (ICO) project launched on top of the Ethereum blockchain protocol, was hacked on July 27, losing more than 70 million KICK worth $7.7 million. Smart Contract Breach Dissimilar to most cryptocurrency, blockchain network, and token hacking attempts, the security breach of KICKICO was unique in that the hackers were able to gain direct access to the smart contract...

Bitcoin’s Volume Recovers as Augur Drop 18%, Tokens Take Huge Beating


Despite the strong performance of bitcoin over the past 24 hours, tokens have recorded large losses against both bitcoin and the US dollar, dropping by 10 to 20 percent. Bitcoin Volume Recovers But Tokens Struggle On July 22, CCN reported that the volume of bitcoin has dropped by more than 36 percent since July 20, within a 48-hour period, from $5 billion to $3.5 billion. The daily trading volume...

Korean Firm Discovers $130 Billion in Gold from Sunken Russian Battleship, Plans To Launch ICO


Shinil Group, a South Korea treasure-hunting company, has announced that it will launch an ICO after discovering worth $130 billion in gold from the wreckage of the Russian cruiser Dmitrii Donskoi. Dmitrii Donskoi was scuttled in 1905 after being severely damaged in the Russo-Japanese War. Since then, it has been 'found' many times in the past two decades. It is believed to be carrying $130...

Equity Crowdfunding Platform StartEngine Now Accepts Bitcoin

StartEngine now accepts bitcoin.

StartEngine, a U.S. based equity crowdfunding platform, has announced that it has started accepting investment contributions in bitcoin. Founded in 2014, the company has launched various ICOs and has helped raise capital for more than 150 startups. According to the Regulation Crowdfunding rules presented by the U.S. Securities and Exchange Commission (SEC), a funding portal must collaborate with...

Research: Over 1,000 Cryptocurrencies are "Dead Projects"


While not all cryptocurrencies and tokens are built to last, the math shows token projects and forked digital currencies abandoned, shut down, and scammed are far greater than one may think. "Dead Coins" As per data collated by Coinopsy and Dead Coins, two digital currency tracking websites, an estimated 1,000 cryptocurrencies projects are lacking any development or future activity in their...

AI Reads 100 ICO Papers, Publishes a Crypto Whitepaper: Here's How it Sounds


Clay Space, a blockchain researcher and the founder of Blockspace Media, recently ran a study by feeding an artificial intelligence (AI) system 100 initial coin offering (ICO) whitepapers and having it produce its own. Essentially, through the utilization of AI and machine learning, Space had an AI system, which previously had no knowledge of cryptocurrency or ICO, read through many ICO papers...

Why Coinbase Added Ethereum Classic Ahead of Ripple & Other Tokens


Coinbase, the biggest cryptocurrency exchange, brokerage, and wallet based in the US, integrated Ethereum Classic on June 12 ahead of other major cryptocurrencies such as Ripple and EOS. The community was taken aback by the abrupt decision of Coinbase to add ETC to its platform, given that it is the 18th most valuable cryptocurrency in the global market and there are more than a dozen...

Interview: Football Legend Luis Figo Doesn’t Own Cryptocurrencies, Yet


As CCN covered earlier this year, legendary Portuguese football star Luís Figo has recently signed to serve as a brand ambassador for Stryking Entertainment, making him one of the latest celebrities to promote an initial coin offering (ICO). Luís Figo, winner of both the 200 Ballon d’Or and the 2001 FIFA World Player of the Year awards, stated at the time that he immediately liked Stryking...

Months After Raising a $100 Million ICO Kik Founder Calls Blockchain"Unconvincing"

Kik Kin ceo ted livingston

At the True North tech conference earlier this week, Kik CEO Ted Livingston expressed his surprising opinion about blockchain: “Almost nobody should be looking at it.” Kin Founder Belittles the Blockchain What made the statement highly pessimistic is the fact that Livingston raised over $100 million via an Initial Coin Offering for his company in 2017. However, the CEO explained his ideology as...

ICO PR Stunt Turns Tragic after Guide Dies Scaling Mt. Everest


A promotional stunt for a Ukranian startup’s upcoming initial coin offering (ICO) turned tragic after a sherpa reportedly died while helping a group of climbers hide a cryptocurrency wallet at the summit of Mt. Everest. According to FT Alphaville, social networking startup ASKfm sponsored a promotion to hide a Ledger wallet containing 500,000 ASKfm tokens at the mountain’s summit, which any...

Boston Stock Exchange Partners tZero to Launch Regulated Security Token Exchange

security token exchange

The operator of the Boston Stock Exchange has announced a partnership with Overstock subsidiary tZero to launch the world’s first regulated security token exchange. The joint venture, unveiled on Tuesday, will see tZero and Boston Stock Exchange company BOX Digital Markets develop a regulated venue that facilitates the trading of blockchain tokens that are classified as securities under federal...

Why Nokia Is Partnering with a Crypto Startup to Build an IoT Network


Nokia, a Finland-based multinational communications and information technology provider, has announced a project to give people in remote rural areas a chance to have mobile connectivity and enjoy the benefits of the digital economy, according to a a post on the company's blog. New tools that reduce the cost of network deployment and maintenance will bring access to these areas, and Nokia...

Snapchat’s Main Investor is Forming a Cryptocurrency Fund

cryptocurrency index fund institutional investor

On May 18, Recode reported that it has discovered Lightspeed Venture Partners, the main investment firm which backed many successful technology companies like Snapchat operator Snap, is planning to establish a fund that is exclusive to the cryptocurrency market. Three Options Sources of Recode confirmed that the venture capital firm is actively investigating into various methods that could be...

‘HoweyCoin’: SEC Trolls Crypto Fraudsters with Fake ICO Campaign

SEC crypto gladius network ico

In a landmark embrace of technological innovation, the US Securities and Exchange Commission (SEC) has announced that it will issue its own cryptocurrency – HoweyCoin – through an initial coin offering (ICO). Okay, that’s not actually true, but the agency has constructed a clever campaign intended to teach investors how to identify ICO scams – and troll the fraudsters who continue to operate them...