$4 Billion: ICO Fundraising Hits New Milestone as Regulators Curtail Hype

$4 Billion: ICO Fundraising Hits New Milestone as Regulators Curtail Hype

Initial coin offering (ICO) fundraising passed another historic milestone this week,  surpassing $4 billion just days after U.

Crowdfunding Giant Indiegogo Looks to Make ICOs Mainstream

Crowdfunding platform Indiegogo has a plan to help initial coin offerings (ICOs) break into the mainstream, even as the U.

SEC Files Charges Against Alleged ICO Scam PlexCoin

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Bermuda Courts ICOs, Cryptocurrencies in Push for Economic Diversification

Initial coin offerings (ICOs)  have raised an estimated $3.6 billion this year, and regulators across the world have begun to eye them with increasing concern. In Bermuda, however, the government views them as an economic opportunity. Announced on Thursday, the island territory’s government has established the Blockchain Legal and Regulatory Working Group, an initiative created to make Bermuda a “destination for utility tokens, tokenised securities, cryptocurrencies, and coin offerings”.

Tezos Founders Face Second Class Action Lawsuit Over $232 Million ICO

The founders of blockchain startup Tezos have been hit with a second class action lawsuit related to the project’s initial coin offering (ICO). Filed by legal firm Silver Miller in the U.S. District Court in Florida, the suit alleges that Tezos founders Kathleen and Arthur Breitman — along with their company Dynamic Ledger Solutions and the independently-operated Tezos Foundation — illegally sold unregistered securities to U.

Micro-Lending Startup Ripio Credit Network ICO Hits $37 Million Target

The initial coin offering for Latin American startup Ripio’s micro-lending network reached its $37 million hard cap. The blockchain financial services firm, formerly known as Bitpagos, is developing the Ripio Credit Network with the stated goal of democratizing the lending process and removing the geographic and bureaucratic barriers that prevent borrowers in emerging markets from obtaining loans at reasonable rates from traditional lenders.

Disney-Linked Blockchain Startup Dragonchain Concludes $15 Million ICO

Blockchain startup Dragonchain has concluded a $15 million initial coin offering (ICO) for its enterprise blockchain platform that originally began as a prototype at Disney’s innovation-focused Seattle office. Disney had originally conceived Dragonchain in 2014 as a blockchain-based asset management platform, but two years later it shelved the project and released it as open source software.

SEC: Celebrity ICO Endorsements ‘Potentially Unlawful’

The U.S. Securities and Commission (SEC) has issued a public statement that calls celebrity ICO endorsements “potentially unlawful” and warns that celebrities who improperly promote security tokens may be liable for violating federal securities laws. The statement, which is attributed to the SEC Division of Enforcement and the SEC Office of Compliance Inspections and Examinations, states that celebrity ICO endorsements potentially violate securities regulations because they do not properly disclose source and amount of any compensation paid in exchange for the endorsement.
New Zealand Regulator: Cryptocurrencies Are Securities

New Zealand Regulator: Cryptocurrencies Are Securities

New Zealand's finance regulator has released new guidance on initial coin offerings (ICOs) and cryptocurrencies. In a statement published last week, the New Zealand Financial Markets Authority (FMA) outlined the ways in which token sales would be covered under national law. Notably, the regulator said that, in its view, any cryptocurrency or ICO-derived token would be considered a security.

Putin Approves Framework for ICO, Cryptocurrency Regulation

Russian President Vladimir Putin has personally approved a timeline for a framework that will regulate initial coin offerings (ICO) and cryptocurrency mining operations. Putin Orders Parliament to Regulate ICOs According to official Kremlin documents published this week, Putin signed several orders intended to regulate cryptocurrency usage within the country.
Overstock Shares Surge 30% After $500 Million ICO Announcement

Overstock Shares Surge 30% After $500 Million ICO Announcement

Shares of online retailer Overstock (OSTK) surged 30% this week after chief executive Patrick Byrne revealed key details about the initial coin offering (ICO) for one of Overstock’s portfolio companies — an ICO that he says can raise as much as $500 million. As CCN has reported, Overstock subsidiary tZERO has formed a joint venture with two other companies to establish the first regulated U.

SegWit2x Opponents Sound Off on Metronome

On Tuesday, Bloq — a crypto firm co-founded by SegWit2x developer Jeff Garzik — announced that it is developing Metronome, a cross-blockchain cryptocurrency that will be distributed through a December initial coin offering (ICO). Garzik says that, among other things, Metronome addresses “existential threats, from forks” and “developer drama” because its smart contracts ecosystem will allow users to make transactions across blockchains and retain the value of their holdings even if an underlying blockchain is compromised.

Patrick Byrne Reveals tZERO ICO Details

Overstock chief executive Patrick Byrne has revealed details about the initial coin offering (ICO) for tZERO’s SEC- and FINRA-compliant token exchange. Byrne expects the tZERO ICO to “raise a fortune” and potentially set a new record for token sale fundraising. Overstock CEO Reveals tZERO ICO Details Last month, Overstock announced that tZERO — one of its blockchain portfolio companies — had entered into a joint venture with the Argon Group and RenGen to develop the first U.

Plexcoin ICO Organizer Held in Contempt by Quebec Superior Court

PlexCoin ICO organizer Dominic Lacroix has been found in contempt of court in Quebec for violating a ruling that barred Lacroix and his associated companies from holding an initial coin offering in Quebec or soliciting investors from the Canadian province. The Autorité des marchés financiers (AMF), Quebec’s chief financial regulator, announced in a statement that the Quebec Superior Court — the province’s highest trial court — had found Dominic Lacroix and an associated company, DL Innov inc, in contempt for violating an earlier court order related to the PlexCoin ICO.
$3 Billion: Initial Coin Offering Fundraising Hits Another Milestone

$3 Billion: Initial Coin Offering Fundraising Hits Another Milestone

Initial coin offering (ICO) fundraising crossed another significant milestone this month, racing past the $3 billion mark for the year despite increased attention from regulatory agencies across the world. Initial Coin Offering Fundraising Tops $3 Billion Initial coin offerings have come along way since 2013 when J.R. Willett raised $500,000 to develop Omni (then known as Mastercoin). According to data obtained from CoinSchedule, there have now been more than 200 ICOs held during 2017 alone.
Jaguar-Backed Blockchain Startup Completes $6 Million ICO

Jaguar-Backed Blockchain Startup Completes $6 Million ICO

A blockchain startup funded by the venture arm of Jaguar Land Rover has raised roughly $6 million in an initial coin offering (ICO). DOVU told CoinDesk that it had raised a total of 20,000 ethers, an amount worth approximately $6.2 million at press time. The token sale was divided in two parts, including a pre-sale and a public sale that concluded on Tuesday. The startup had previously received an investment from InMotion Ventures, Jaguar Land Rover's investment outfit.

P2P Data Sharing Startup Streamr ICO Raises $31 Million

Peer-to-peer (P2P) data sharing startup Streamr concluded its initial coin offering (ICO) on Monday, reaching its roughly $31 million hard cap nearly two weeks early. The Streamr ICO, which was managed by Swiss crypto-asset broker Bitcoin Suisse, raised 30 million CHF, worth about $30.7 million, from more than 1,300 individuals and groups.
Jaguar-Backed Blockchain Startup Completes $12 Million ICO

Jaguar-Backed Blockchain Startup Completes $12 Million ICO

A blockchain startup funded by the venture arm of Jaguar Land Rover has raised roughly $12 million in an initial coin offering (ICO). DOVU told CoinDesk that it had raised a total of 40,000 ethers, an amount worth approximately $12.5 million at press time. The token sale was divided in two parts, including a pre-sale and a public sale that concluded on Tuesday. The startup had previously received an investment from InMotion Ventures, Jaguar Land Rover's investment outfit.

Eidoo ICO Concludes at $28 Million After Trolling Jamie Dimon in the WSJ

The Eidoo ICO raised a total of $27.9 million following a flurry of media attention surrounding the full-page Wall Street Journal advertisement it used to troll outspoken bitcoin critic Jamie Dimon. As CCN has reported, JPMorgan chief executive Jamie Dimon has long been one of cryptocurrency’s most vociferous skeptics. Despite claims that he does not care about bitcoin and will no longer comment on it publicly, he has repeatedly attacked the flagship cryptocurrency as “a fraud” and has called people who invest in bitcoin “stupid”.
This AirSwap ICO Investor Lost $80,000 on a Failed Transaction

This AirSwap ICO Investor Lost $80,000 on a Failed Transaction

An investor lost more than $80,000 worth of ether while attempting to participate in the AirSwap ICO. The public AirSwap ICO kicked off on Tuesday following a successful presale that raised $20 million for the ConenSys-backed startup’s decentralized token exchange.

$500 Million: tZERO ICO Will ‘Raise a Fortune’, Predicts Patrick Byrne

Overstock CEO Patrick Byrne confirmed that SEC-compliant token exchange and marketplace tZERO will hold an initial coin offering (ICO) by Thanksgiving. Byrne predicts the tZERO ICO could “easily” raise as much as $200 million to $500 million, potentially breaking the record for token sale fundraising. Last month, Overstock made waves by announcing that tZERO, one of the online retailer’s blockchain subsidiaries, had entered into a joint venture with RenGen and the Argon Group to develop the first FINRA- and SEC-compliant ICO marketplace.

Cobinhood CEO Apologizes for Jamie Foxx Endorsed ICO’s Questionable Presale

Cobinhood founder and CEO Popo Chen recorded a video statement apologizing for controversial practices undertaken by the Cobinhood ICO. Cobinhood is best known as the ICO pumped by Oscar winning-actor and recording artist Jamie Fox, who tweeted an endorsement for the startup last month ahead of its October launch: Looking forward to participating in the new @cobinhood Token! ZERO fee trading! #CryptoCurrency #BitCoin #ETH – https://t.

Chinese ICOs Move to the Shadows

China’s blanket ban on initial coin offerings may have made it illegal for startups to hold initial coin offerings (ICOs) and for investors to contribute to them, but it has not quashed excitement among investors for crypto token investments. Chinese ICOs continue to operate, but now they do so from the shadows. ICO investing seminars hosted in mainland China used to attract hundreds of investors. Concerned — at least purportedly — that the nascent funding model was being exploited to commit fraud, the People’s Bank of China (PBoC) declared the practice illegal and ordered the cessation of all Chinese ICOs.

Etherparty ICO Briefly Falls Prey to Cyber Attack

The Etherparty ICO briefly fell prey a cyber attack, causing some contributors to misdirect their funds to the attacker’s address. Blockchain startup Etherparty launched the initial coin offering (ICO) for its smart contracts creation platform on October 1. According to a blog post published later that day, an attacker successfully injected a fraudulent wallet address into the Etherparty ICO website approximately 45 minutes after the ICO went live.

Decentrlized Token Exchange AirSwap ICO Raises $20 Million During Presale

Decentralized token exchange AirSwap has concluded a $20 million presale ahead of its public token distribution event. The AirSwap ICO is expected to raise a combined total of more than $30 million. China’s recent ban on cryptocurrency exchanges highlighted the need for decentralized markets that guarantee user privacy and can not be shut down by hostile regulators. AirSwap, a project backed by venture production studio ConsenSys, aims to leverage ethereum-based smart contracts to develop a decentralized, peer-to-peer ERC20 token trading platform.