U.S. firm Alternet Systems (ALYI) is preparing to launch a $100 million ICO intended to fund electrical vehicle production for the African market.
The following is a quick exposition of an idea I had for improving the ICO model by merging in some of the benefits of DAOs, but doing so in a way that minimizes complexity and risk. The idea is as follows. A DAICO contract is published by a single development team that wishes to raise funds for a project. The DAICO contract starts off in “contribution mode”, specifying a mechanism by which anyone can contribute ETH to the contract, and get tokens in exchange. This could be a capped sale, an …
In March 2018, Steven Seagal was contracted by ICO project “Bitcoiin2Gen” (B2G) to promote the sale on his social media channels, as well as appearing as a brand ambassador in the project’s marketing materials.
While he was promised $250,000 in cash and $750,000 in B2G tokens, the Feb. 27 disclosure by the SEC maintains that he only received $157,000 from his promotional deal.The actor agreed on settled charges with the commission, promising to pay approximately $330,000 to the commission. The sum corresponds to double the amount he received from the project, plus $16,000 of prejudgement interest.
Telegram told investors it was using BNY Mellon and Credit Suisse, to move and store fiat raised in last year’s token sale, court filings indicate.
Earlier this year we paid ICORating.com $8,000 for their services. Even though we were unsure when we’ll be going ahead with our ICO, their team member (Leo) told us this is a “limited offer” and we can always avail their services later and if we decide to cancel the ICO later they’ll be happy to refund the entire amount.
The initial coin offering may have all but died, but the ICO scammer marches on regardless. Whereas legitimate projects have to wrangle with all kinds of
In exchange, the SEC gave them leniency and did not assess the same level of penalties they would’ve.However they did order them to hold a refund round for investors and provide a way for investors to request their original ETH back. And they were obligated to do that. But the SEC apparently doesn’t bother enforcing its own judgments. And instead spent the next year and a half granting them extensions.
Company dissolves after SEC order to refund investors isn’t enforced.