Adam Back admitted that some ICOs might have funded useful research, but still contends that they are deeply unethical. Adam Back recently took to Twitter with controversial comments on many of the industry’s largest crypto projects — including Ethereum (ETH), Cardano (ADA), Ripple (XRP), and Stellar (XML). His tweets placed these projects in the same…
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Plaintiffs as the court to authorize communication via email and Twitter to Status co-founders as part of a class-action lawsuit over SNT’s ICO. Plaintiffs in a class-action lawsuit against Status and its 2017 initial coin offering of the Status Network Token (SNT) are asking the judge to authorize official document delivery, or serving, via alternative…
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A new indictment came down in the case involving three Canadians behind the alleged PlexCoin ICO scam which raised $8M in 2017. Three Canadian citizens involved with an alleged initial coin offering scam from crypto project PlexCorps have been charged with fraud over conning investors out of $8 million. According to a July 24 statement…
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The Polkadot project appears to be launching its second token sale after a “building with Polkadot” page is published. Persistent rumors on Polkadot channels and groups and a series of forms and NDAs to “build with Polkadot” suggest that the project may soon run a new token sale for its token, the DOT. The purported…
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Jack Abramoff has pleaded guilty to multiple counts of fraud relating to his promotion of the 2018 AML BitCoin ICO. Notorious political lobbyist Jack Abramoff has pleaded guilty to charges of conspiring to defraud investors, conspiring to commit wire fraud, and violations of the Lobbying Disclosure Act relating to the 2018 initial coin offering (ICO)…
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Faculty at the Rotterdam School of Management argue that STOs are better for financing startups than ICOs. Thomas Lambert, Daniel Liebau, and Peter Roosenboom from the Rotterdam School of Management suggest that Security Token Offerings are better at financing start-ups than Initial Coin Offerings. Their research was published on July 14 via the University of…
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Sohrab Sharma would be the 2nd co-founder behind the Centra Tech ICO scam to face prison following the conviction of Robert Farkas in June. Sohrab Sharma, one of the co-founders of cryptocurrency firm Centra Tech facing charges related to a $25 million initial coin offering scam, is reportedly planning to plead guilty. According to a…
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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. Tezos, like many initial coin offerings (ICO) from 2017, has come under…
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The DeFi sector is seeing rapid growth in use and volume. Some appear concerned about a bursting bubble, but could it be natural growth? Decentralized finance is all about cutting out traditional financial intermediaries such as banks. Through the use of blockchain technology, DeFi platforms allow individuals to generate money against their own assets, becoming…
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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…
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