A co-founder of the fraudulent 2017 ICO Centra Tech has been sentenced to eight years in prison for his role in the scheme.
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Boxing superstar Floyd Mayweather and rap producer DJ Khaled face a legal battle for serving as celebrity endorsers to an initial coin offering (ICO) accused of fraud. The founders of the allegedly fraudulent ICO were arrested by American criminal authorities back in April. Also Read: The Daily: Goldman Sachs Invests in Wallet, Institutional Traders Borrow […]
The post Celebrity ICO Endorsers Face Legal Blowback Over Alleged Fraud appeared first on Bitcoin News.
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Three stories dominate this week’s initial coin offering (ICO) round up: It appears many ICO projects are reaching out to social media influencers in an effort to thwart advertising bans across leading platforms. A study published by the China Banking Regulatory Commission (CBRC) suggested that the country develop a licenced-based regulatory apparatus that permits cryptocurrency […]
The post ICO Round-Up: Social Media Influencers Bypass Ad Ban, Centra Tokens Deemed Securities appeared first on Bitcoin News.
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“When Binance?” is the refrain from impatient bag-holders in ICO Telegram groups. For investors eager to flip their tokens and move onto the next thing, a major exchange listing is the big event, and the sooner the better. But for beleaguered project teams, with a community to manage, workforce to recruit, and decentralized solution to […]
The post Why 70% of ICO Tokens Are Not Exchange Listed and Probably Never Will Be appeared first on Bitcoin News.
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The United States Securities and Exchange Commission (SEC) has announced that Centra Tech Inc. co-founder, Raymond Trapani, has been charged with fraud charges resulting from the SEC’s investigations into Centra’s controversial $32 million USD initial coin offering (ICO). Mr. Trapani is the third and final Centra co-founder to be charged for having a role in […]
The post SEC Charges Third Centra Co-Founder With Fraud appeared first on Bitcoin News.
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Things are quickly going from bad to worse for the Centra ICO. While it’s a well-known project with celebrity backing, the team running the show has a lot of explaining to do. Three of the co-founders have been charged with fraud despite raising $32 million through the initial coin offering. The Centra Plot Thickens Again In the world of initial coin offerings, it is impossible to determine which projects should be trusted. While anything with a huge marketing machine behind it is well worth avoiding, that isn’t how most people perceive this industry. As long as a project claims to have major support
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A primary attraction of decentralized cryptocurrencies is that they’re censorship-resistant. The more centralized a coin is, the easier it is for its supply to be controlled. But there’s another problem with overly-centralized cryptocurrencies such as ripple: they risk being classified as a security, which brings all kinds of problems. Also read: Emin Gün Sirer Discusses Cryptocurrency […]
The post Centralized Ripple Is Probably a Security Token appeared first on Bitcoin News.
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In what is turning into a real cautionary tale for the cryptocurrency community about the need to be wary of celebrity’s power, along with skepticism about most initial coin offerings (ICOs), the US Securities and Exchange Commission (SEC) announced an ICO endorsed by champion boxer Floyd Mayweather has officially been deemed a fraud. Also read: Trezor […]
The post Floyd Mayweather-Backed ICO Co-Founders Arrested for Fraud appeared first on Bitcoin News.
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Once celebrities began endorsing ICOs, many were quick to claim that this was the top; the mania had reached its peak and the token bubble was about to pop. And when the SEC filed charges against several dubious projects, forcing others to return funds to investors, this assessment appeared to be accurate. Despite the mid-summer […]
The post Despite Falling Revenue, ICO Fever Remains High appeared first on Bitcoin News.
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Centra, an initial coin offering (ICO) noted for having been promoted by Floyd Mayweather, is now facing a class action lawsuit. The ICO is accused of violating securities laws by misrepresenting the cryptocurrency as comprising a utility-based token. Also Read: Trading Bitcoin for an Altcoin Won’t Shield You From the IRS Anymore The Suit Has Been […]
The post Centra ICO Faces Class Action Lawsuit, Accused of Violating US Securities Laws appeared first on Bitcoin News.
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