Latest ICO News

  • TV Review: Open Source Money on Discovery Science
    TV Review: Open Source Money on Discovery Science
    “Open Source Money,” about the investigation of Dragonchain’s ICO, is both an intro to crypto and the current state of US regulation. The concept of Vision Tree’s “Open Source Money” series was always an intriguing one.
  • Blockchain Bites: DeFi and DEXs Surge, Bitcoin’s Negligible Adjustment and an ICO Class Action
    Blockchain Bites: DeFi and DEXs Surge, Bitcoin’s Negligible Adjustment and an ICO Class Action
    DeFi's agricultural revolution, Bitcoin's negligible adjustment and the novel legal strategy bringing an ICO project to court.
  • The Novel Legal Strategy Bringing This ICO-Backed ‘Micro-Mobility’ Startup to Court
    The Novel Legal Strategy Bringing This ICO-Backed ‘Micro-Mobility’ Startup to Court
    Lawyers have filed suit in a "highly unusual" case against flamboyant Italian e-scooter entrepreneur Salvator Palella, over a troubled ICO back in 2018.
  • Telegram (TON) To Return $1.2B From Failed Crypto, Will Investors Get a Refund?
    Telegram (TON) To Return $1.2B From Failed Crypto, Will Investors Get a Refund?
    The Securities and Exchange Commission stepped in and put an end to Telegram’s TON crypto token.
  • Tezos Likely Avoiding SEC Action with $25M Class-Action Lawsuit Settlement
    Tezos Likely Avoiding SEC Action with $25M Class-Action Lawsuit Settlement
    The consolidated class-action lawsuit against the Tezos Foundation appears likely to end in a $25M settlement which might forestall further SEC action. The Tezos (XTZ) class-action lawsuit from law firm Block & Leviton will likely conclude in a $25-million settlement on August 27. Tez
  • Bubbling Over the Top? DeFi Sector Heats Up in June, Raising Concerns
    Bubbling Over the Top? DeFi Sector Heats Up in June, Raising Concerns
    The DeFi sector is seeing rapid growth in use and volume.
  • SEC Charges Disgraced Lobbyist Jack Abramoff With Fraud for AML Bitcoin ICO
    SEC Charges Disgraced Lobbyist Jack Abramoff With Fraud for AML Bitcoin ICO
    Political lobbyist Jack Abramoff and Marcus Andrade, CEO of the NAC Foundation, have been charged with fraud by the Securities and Exchange Commission (SEC) for misrepresenting their token’s compliance.
  • SEC Charges Lobbying Kingpin Jack Abramoff With Fraud For Promotion of 2018 ICO
    SEC Charges Lobbying Kingpin Jack Abramoff With Fraud For Promotion of 2018 ICO
    Abramoff and the founder of AML Bitcoin face charges for fraud in misrepresenting the token’s compliance, with the founder himself facing jail time for money laundering. On June 25, the United States Securities and Exchange Commission charged the issuer of AML Bitcoin — not to be confused with Bitcoin itself — with conducting a fraudulent offering.
  • SEC Asks Court to Order Telegram to Pay $1.2B Back for $1.7B ICO
    SEC Asks Court to Order Telegram to Pay $1.2B Back for $1.7B ICO
    Despite the original TON project being officially terminated, the US SEC asks Telegram to return $1.2 billion. The United States’s Securities and Exchange Commission, or SEC, has filed a proposal for final court judgement in regard of the terminated Telegram Open Network project. In a document filed on June 25, the SEC has asked the New York Southern District Court to order million dollar penalties to multiple defendants related to the case. “Defendants are jointly and severally liable for disgorgement of $1,224,000,000,” the SEC wrote in the proposed judgement.
  • Federal Judge Pauses $30M SEC Case Against Alleged Crypto Scam
    Federal Judge Pauses $30M SEC Case Against Alleged Crypto Scam
    An SEC suit against allegedly fraudulent ICO was recently put on pause by US federal judge.
  • Judge Certifies Investor Class in $70m Pot ICO Lawsuit
    Judge Certifies Investor Class in $70m Pot ICO Lawsuit
    Paragon Coin will face federal claims from a class-action lawsuit alleging that the firm’s $70 million ICO from 2017 violated securities laws. A Californian federal judge has certified an investor class in a lawsuit alleging that the cannabis crypto firm Paragon Coin Inc violated securities laws in its 2017 initial coin offering (ICO) that raised $70 million. Paragon Coin promoted their ‘PRG’ tokens as comprising a currency for the cannabis industry and hired popular rapper The Game to promote the offering $70m crypto cannabis ICO to face federal claims On June 24, US District Judge Jeffrey White granted the plaintiffs’ motion in-part on federal claims, however, he denied applications for claims at the state level on the behalf of investors based outside of California. While the suit argues that ParagonCoin claimed to have issued PRG from its headquarters in California, Judge White noted that “the ICO giving rise to plaintiffs' claims and purchases of PRG tokens were conducted over the internet.” “Plaintiffs concede there may be class members in all 50 states and concede that laws governing the state law claims at issue differ among jurisdictions in such a way that a true conflict exists,” the judge added. Paragon Coin promoted by The Game The class-action was first brought against ParagonCoin in January 2018, with investor Astley Davy claiming that Paragon Coin should be forced to disgorge its earnings for allegedly failing to register its token sale with the Securities and Exchange Commission (SEC).   The complaint noted that PRG had been promoted as a currency for the cannabis sector, adding that the firm had hired prominent rapper The Game to promote its token sale — who became embroiled in the lawsuit later that year. In November 2018, ParagonCoin was among two ICO issuers against which the SEC imposed civil penalties solely for failing to register their token sale — with the enforcement actions described as a “first
  • SEC Finalizes Lawsuit Against the Founder and CEO of Fraudulent ICO
    SEC Finalizes Lawsuit Against the Founder and CEO of Fraudulent ICO
    The US Securities and Exchange Commission (SEC) has revealed that it has received a final judgment in a US district court action against Eran Eyal, the CEO and founder of Shopin token offering for carrying out an allegedly fraudulent ICO.
  • Not Just a Pretty Name: Blockchain Creating Real Value in Traditional Industries
    Not Just a Pretty Name: Blockchain Creating Real Value in Traditional Industries
    Blockchain technology is transitioning from a conceptual tool that powered the ICO boom into a value-adding service for mainstream industries. Blockchain technology has proliferated in a number of industries outside of the cryptocurrency space in the decade since Bitcoin’s (BTC) inception.
  • US Supreme Court Restricts Power of SEC to Seek Penalties Against ICOs
    US Supreme Court Restricts Power of SEC to Seek Penalties Against ICOs
    Initial coin offerings (ICOs) indicted by the US Securities and Exchange Commission (SEC) may see a significant reduction in fines owed following a recent Supreme Court ruling.
  • Alleged Shopin ICO Fraudster Pays $450K Fine in Ether
    Alleged Shopin ICO Fraudster Pays $450K Fine in Ether
    Eran Eyal, who raised $42 million in an allegedly fraudulent initial coin offering, settled charges with the SEC and paid a $450,000 fine in ether.
  • Let's Not Make a New ICO Bubble Out of DeFi, Says Waves CEO
    Let's Not Make a New ICO Bubble Out of DeFi, Says Waves CEO
    Waves founder Sasha Ivanov warns that decentralized finance's surge might have negative consequences. Decentralized finance’s (DeFi) surging popularity might backfire and hurt the forward-looking sector, Waves cryptocurrency platform founder and CEO Sasha Ivanov told Cointelegraph in a recent interview.  Ivanov compared DeFi to the 2017 ICO craze in a tweet earlier today, saying, “Please let's not make a new ICO bubble out of #DeFI.” When asked to elaborate on his statement, the Waves CEO noted that he strongly believes in DeFi, but is worried about the hype surrounding it: “DeFi is the future, but it's going to be coming through a bubble part of the cycle now, which can harm its long-term development.” In Ivanov’s opinion, DeFi networks tokens “are clearly utility tokens, and do have a mechanics that gives them valuation”.
  • FC Barcelona’s BAR ICO Completed in Two Hours, Raising $1.3 Million
    FC Barcelona’s BAR ICO Completed in Two Hours, Raising $1.3 Million
    The flash sale of FC Barcelona’s BAR token, which looks like a flashy wording for an Initial Coin Offering, carried out on the platforms Chilliz and Socio,s sold 600,000 tokens priced at 2EUR each in less than two hours.
  • Ethereum short-term price analysis: 22 June
    Ethereum short-term price analysis: 22 June
    Ethereum proponents are experiencing something similar to the days of the ICO bubble as Compound's COMP token makes headlines.
  • $10M Investment From Tether Won’t Change Celsius’ Mission of Sharing
    $10M Investment From Tether Won’t Change Celsius’ Mission of Sharing
    Alex Mashinksy says that new equity investors, including Tether, will have no say in Celsius’ mission of sharing 80% of profit with its users. Tether (USDT) makes a $10 million equity investment in the crypto lending platform Celsius Network (CEL) at a $120 million pre-money valuation, bringing the post-money valuation to $150 million.  The company has raised $30 million in its first equity round.
  • The Great Ethereum Debate: DeFi Versus ICOs
    The Great Ethereum Debate: DeFi Versus ICOs
    A great debate is taking place across the cryptocurrency community, arguing over if decentralized finance (DeFi) will have a similarly bullish impact on Ethereum price when the next bull market begins.
  • Cool Story BRO: French Startup Plans to Make ICOs Obsolete
    Cool Story BRO: French Startup Plans to Make ICOs Obsolete
    A French firm has claimed that its new crypto fundraising vehicle, the ‘Believers Reward Offering,’ or BRO, will supersede ICOs and save businesses from economic crisis. France-based crypto asset issuance platform Tozex claims to have created a new vehicle for crypto financing that can offer firms a way out of the tough economic times due to the pandemic — the ‘Believers Reward Offering,’ or BRO. Tozex claims that the BRO comprises “the first sustainable alternative” to initial coin offerings (ICOs) and security token offerings (STOs) — allowing businesses to access financing by borrowing stablecoins from investors worldwide.  BROs will save SMEs  The firm’s announcement makes grand claims for BROs, describing the BRO as an “anti-crisis business solution.” The document claims that the fundraising vehicle will help small to medium-sized enterprises “overcome tough economic times and open new financing possibilities.” BRO offerings are conducted using Tozex’ blockchain-based crowd-lending protocol that leverages smart contracts to autonomously and transparently execute loans tied to a borrower’s  crypto collateral.
  • Redactions Granted in Telegram Case To Protect ICO Participants
    Redactions Granted in Telegram Case To Protect ICO Participants
    Sensitive documents outlining the proprietary investment strategies of Telegram ICO participants have been redacted from the case with the SEC. A US District Judge has approved the majority of redaction requests received during the proceedings surrounding the Securities and Exchange Commission’s (SEC) lawsuit against messaging firm Telegram over its $1.7 billion initial coin offering (ICO). The SEC took action against Telegram in October 2019, filing a temporary restraining order barring Telegram from distributing its tokens. The SEC submitted a cache of documents in support of its temporary restraining order, including roughly one dozen exhibits that revealed the strategic considerations of venture capital firms and investors who participated in the ICO and later cooperated with the SEC. The documents were filed under temporary seal to protect the privacy of non-parties to the suit, but Judge Castel’s June 17 decision has ensured that significant portions of various exhibits in the case will be sealed permanently “to protect the specific interests of the non-parties.” One dozen docs Roughly one dozen documents have been redacted to protect the various VCs who cooperated with the SEC, with two documents adjusted to identify ICO participants pseudonymously.  While the redactions were initially sought by the ICO participants that cooperated with the SEC, Judge Castel approved redactions proposed by the SEC that he described as having “narrowly tailored” the requests “to protect the specific interests of the non-parties”. Documents concerning the SEC’s efforts to convince Telegram’s former financial adviser John Hyman to testify will also remain under seal, as will Telegram’s banking records. Russia lifts Telegram ban In response to the SEC’s preliminary injunction being granted and Telegram’s announcement is was delaying the launch of its Telegram Open Network (TON) until next year, the TON community launched its own blockchain.
  • After Raising $20m in 2017, ATBCoin Claims It Can’t Afford A $250,000 Settlemen
    After Raising $20m in 2017, ATBCoin Claims It Can’t Afford A $250,000 Settlemen
    ATBCoin has claimed that it is unable to pay a $250,000 settlement to a lawsuit over its $20 million ICO, prompting calls from the plaintiffs for the court to enforce the agreement. Investors who settled claims against the self-proclaimed “fastest blockchain in the world” ATBCoin LLC have requested that a New York federal judge intervene to enforce the $250,000 agreement. In April, the lead plaintiff in a class-action lawsuit levied at ATBCoin over its 2017 initial coin offering, or ICO, that raised $20 million agreed to a proposed settlement of $250,000.  The suit asserted that ATB had distributed unlicensed securities and failed to register with the United States Securities and Exchange Commission, or SEC. However, in May, ATBCoin’s representation claimed that the firm could no longer afford the deal “due to a change in circumstances,” with the lawyers requesting to withdraw from the case as their legal fees could no longer be met. ATBCoin claims to have empty pockets On June 16, the plaintiffs urged the court to enforce the $250,000 agreement inked in April, asserting that the letter filed by ATB’s attorneys did not explain the firm’s “sudden inability to pay.” “Without further detail as to defendants' purported inability to fund the settlement, the lead plaintiff is utterly unable to determine if and when defendants became insolvent, and whether defendants fraudulently entered into the stipulation in the first place,” the filing states. The plaintiffs also emphasized that “the defendants specifically represented in the stipulation that they would be able to fund the settlement and would not be insolvent at the time of paying the settlement amount.” ATBCoin launch falls flat Lead plaintiff Raymond Baletrta filed the lawsuit during September 2017, accusing the firm of failing to meet the expectation of its marketing rhetoric — which claimed that ATB’s blockchain would comprise “the fastest cryptographic network
  • Floyd Mayweather and DJ Khaled Backed ICO’s Co-Founder Pleads Guilty of Fraud
    Floyd Mayweather and DJ Khaled Backed ICO’s Co-Founder Pleads Guilty of Fraud
    Robert Farkas, the co-founder of Centra Tech, is one of the lead defendants on a massive case, including securities and wire scam, and a fraudulent ICO, raising more than $25 million, according to the FBI.
  • Crypto Founder Sentenced to Seven Years in Prison for $25 Million Scam
    Crypto Founder Sentenced to Seven Years in Prison for $25 Million Scam
    A federal court in Manhattan sentenced the founder of a $25 million ICO scam to 87 months and a fine of up to $250,000. Robert Farkas, the founder of a cryptocurrency firm Centra Tech that raised more than $25 million from its initial coin offering scam, pled guilty in a federal court in Manhattan on Tuesday.  The official statement accused Farkas of conspiring to commit securities and wire fraud and ordered a sentence between 70 to 87 months and a fine up to $250,000.
  • Floyd Mayweather Promoted 2017 ICO Was a Fraud, Co-Founder Pleads Guilty
    Floyd Mayweather Promoted 2017 ICO Was a Fraud, Co-Founder Pleads Guilty
    The $25 million 2017 Centra Tech ICO court case has finally resulted in a verdict against one of the co-founders who pleaded guilty to fraud yesterday.
  • $25 million ICO backed by Floyd Mayweather was a fraud, founder admits
    $25 million ICO backed by Floyd Mayweather was a fraud, founder admits
    The Centra Tech ICO debacle finally results in a verdict for one co-founder, with the others still set to go on trial.
  • Centra Tech Co-Founder Pleads Guilty to Fraud After $25M Token Sale
    Centra Tech Co-Founder Pleads Guilty to Fraud After $25M Token Sale
    A co-founder of the celebrity-backed Centra Tech crypto scam has pleaded guilty to his role in the $25 million fraudulent ICO.
  • Father of JOBS Act: Gov’t Was Concerned Libra Could Displace Dollar
    Father of JOBS Act: Gov’t Was Concerned Libra Could Displace Dollar
    The father of the JOBS Act would be happy to help Telegram with an IPO if the company chooses to revert to a traditional fundraising model. David Weild IV, who is known as the father of the JOBS Act, believes that the US government had to move to stamp out Facebook’s Libra stablecoin. Facebook: Number of Active Users.