Tag: Token

Telegram Hit By New SEC Evidence Showing Token Trading After ICO

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The SEC has produced new evidence in its case against Telegram, which shows that the company was engaged in trading Gram tokens several months after its initial coin offering (ICO). Messaging app Telegram has been embroiled in a lawsuit with the US Securities and Exchanges Commission, which alleges that US$1.7 billion raised from the sale of Gram tokens between January and March 2018 should have been registered with the authority because the tokens constitute a security. Telegram has consistently refuted these claims and published a statement last week to address…

Turkish Construction Conglomerate Isiklar Group to Create Blockchain-Based Loyalty Platform, Token Sale Goes Live Soon

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The adoption of blockchain technology and decentralized applications by mainstream industry segments doesn’t need any more introductions, as there are many glowing examples of Fortune 500 companies as well as startups in their respective spaces implementing such solutions to further optimize their processes. As the use cases for cryptocurrency technologies continue to grow, a more than 50-year-old Turkish company has now ventured into the space by creating a universal customer loyalty program over blockchain to benefit its long list of long term partners as well as newcomers interested in doing…

SEC Seeks $16M From ICOBox for Unregistered Token Sale

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The U.S. Securities and Exchange Commission (SEC) is seeking more than $16 million in penalties from ICOBox for selling “ICOS” tokens as unregistered securities. According to a filing in the United States District Court for the Central District of California, the SEC seeks a default judgment against Cayman Islands-based ICOBox and founder and CEO Nikolay Evdokimov, asking the judge to approve penalties as well as a lifetime ban from marketing or selling securities in the U.S. The regulator also wants Evdokimov to pay a separate civil penalty of just under…

MARKETS DAILY: Basketball’s First Celebrity Token Shoots for Monday Launch

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After years of discussion, Monday may mark the first time accredited investors can buy tokenized shares of a high-profile professional athlete’s contract. Markets Daily is back with the latest on the NBA’s Spencer Dinwiddie story and what it could mean for entertainers of all stripes. No time to listen? Scroll down for the complete episode transcript. More ways to Listen or Subscribe: This episode featured a sound effect provided by soundsilk.com. Adam B. Levine: On today’s episode, our news roundup, the first tokenized pro basketball player, and Fidelity’s 2019 bitcoin reflections.…

MARKETS DAILY: Basketball’s First Celebrity Token Shoots for Monday Launch

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After years of discussion it looks like on Monday we’ll see our first high profile, professional athlete linked securitized token offering. Markets Daily is back with the story and what it could mean. No time to listen? scroll down for the complete episode transcript… More ways to Listen or Subscribe: This episode featured a sound effect provided by http://soundsilk.com Adam B. Levine: On today’s episode, our news roundup, the first tokenized pro basketball player, and Fidelity’s 2019 bitcoin reflections Adam: It’s JANUARY 10, 2020, and you’re listening to Markets Daily, I’m…

US SEC Seeks $16 Million Penalty from Token Sales Platform Operator

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The United States Securities Exchange Commission (SEC) is seeking a default judgement against token sale platform ICOBox and its founder Nikolay Evdokimov. Documents filed with the Central District Court of California on Jan. 9 order the defendants to pay over $16 million in disgorgement to the agency within 14 days of the judgement’s entry.  In a complaint filed on Sept. 18, 2019, the SEC had sued ICOBox and Evdokimov for operating an unregistered securities offering of roughly $14.6 million worth of digital assets in 2017, and operating as an unregistered…

Kik (Again) Asks for Trial in Legal Tussle With SEC Over Token Sale

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Kik is hoping to go to trial against U.S. Securities and Exchange Commission (SEC) allegations that the company conducted an unregistered securities offering with its 2017 kin token sale. The SEC filed a status update on the legal battle Thursday, providing a tentative schedule for the proceedings and detailing the parties’ plans for scheduling some remaining depositions. “Kik requests that the Court set a trial date. The SEC takes no position on whether setting a trial date would be helpful at this stage and submits that the matter can and…

Crypto Investors’ Ethereum Secretly Used to Prop up HEX ‘Scam Token’

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The HEX purchase address used 50 ETH to buy more tokens. The tokens were then sent to an exchange to provide liquidity for HEX traders. HEX continues to benefit its founder, to the severe detriment of its investors. Ethereum (ETH) from the flush address of the controversial HEX cryptocurrency is being recycled to buy more tokens, as shown by a breadcrumb trail of transactions on Etherscan. The ETH were then sent to a cryptocurrency exchange with the apparent intention of boosting the liquidity of the alleged “scam token.” Creator Richard…

Tom Shaughnessy and Jordan Clifford on Layer 1 Wars, Token Economics and a Shift to Applications

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Tom Shaughnessy is a co-founder of Delphi Digital as well as the host of the Chain Reaction podcast. Jordan Clifford is managing director of Scalar Capital. In this end of year interview for The Breakdown, Tom argues that the big story of 2019 was actually the fact that it was all about “quiet” building. When it comes to 2020, however, watch out for fireworks. Tom predicts we’ll see a major increase in the Layer 1 smart contract platform wars, as well as growth in the perceived importance of token economic…

Foin Token Scheme Locks Up Investors’ Money and Pumps Price

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On Dec. 15, news broke that cryptocurrency payments firm and wallet provider FoPay had acquired Estonia-based digital currency trading platform AliExchange for 1 million of its native Foin (FOIN) tokens. If one were to go by Foin’s apparent value at the time, that would make the deal worth roughly $2.1 billion. Indeed, FoPay claimed as much in the press release that it issued. But Cointelegraph has found a trail of suspicious movements in Foin’s price history, as well as a web of suspect business relationships associated with the coin’s development.…