September ICO Market Overview: Trends, Capitalization, Localization

Disclaimer: This article does not contain investment advice or recommendations. Every investment and trading move involves risk, you should conduct your own research when making a decision. The ICOmeter aims to provide the accurate and concise information about the development of the ICO market in the previous month, and its relation to the all-time statistics. The ICO market data is provided by ICObench, based upon the projects’ announcements recorded in ICObench database, which includes over 4600 ICOs since August 2015. In the last 12 months, the ICO market has shown…

US SEC Halts Fraudulent ICO That Claimed to Possess Regulator’s Approval

The U.S. Securities and Exchange Commission (SEC) has halted a planned Initial Coin Offering (ICO) that falsely claimed have SEC approval, the agency reported in an official press release Thursday, Oct. 11. The SEC suspended the ICO project with an emergency court order, and also halted pre-ICO sales by the company Blockvest LLC, and its founder Reginald Buddy Ringgold III. The complaint by the SEC alleges that Blockvest falsely claimed that their ICO and affiliates had acquired approval from major financial regulators, including the SEC itself. Blockvest and Ringgold —…

South Korea to Announce Its ICO Stance in November, Top Official Says

South Korean government is “likely” to announce its official position on Initial Coin Offerings (ICOs) in November. A local business newspaper The Investor reported this on Thursday, Oct. 11, citing a “top official,” Hong Nam-ki. As per the chief of the office for Government Policy Coordination Hong Nam-ki, South Korean officials have already held several discussions on ICOs. As soon as the results are in, the government will finalize and reveal its official stance, he said. South Korea first banned ICOs back in September 2017, saying that the practice of…

Successful ViaBTC’s ICO is Very Bullish for BCH

ViaBTC demonstration that it’s possible for startups to raise funds on the Bitcoin Cash blockchain is very bullish for BCH investors. Complementing this is Roger Ver’s solid plan of setting up a “high liquid exchange with BCH as base”. This and other fundamental development means our previous Bitcoin Cash trade plan is valid. In that case we recommend risk-off, aggressive traders to load up at spot and trade in the direction of Sep 27 with stops just below Aug 14 lows at $470. Latest Bitcoin Cash News Roger Ver or…

SEC Files Subpoena Enforcement Against Alleged ‘Pump-and-Dump’ ICO Scheme

The U.S. securities agency has filed a subpoena enforcement action against the perpetrators of an alleged “pump-and-dump” scheme involving claims of a $100 million Initial Coin Offering (ICO), according to an Oct. 9 filing. The Securities and Exchange Commission (SEC) states it filed the subpoena application Oct. 5 at the U.S. District Court for the Central District of California against the “Saint James Holding and Investment Company Trust and its sole trustee, Jeffre Jame.”  The filing came following the agency’s action to suspend trading in a penny-stock firm dubbed “Cherubim…

Malta to Assist the Government of Vanuatu in Forming Blockchain and ICO Legislation

The state authorities of Malta will assist the government of the Pacific island nation of Vanuatu in forming blockchain regulations, the Vanuatu Daily Post reported Monday, Oct. 8. Minister of Foreign Affairs of Vanuatu Ralph Regenvanu has reportedly requested assistance from the Maltese government in forming blockchain legislation upon instructions from the Council of Ministers. Speaking at a meeting with Maltese Prime Minister Dr. Joseph Muscat, and Parliamentary Secretary Silvio Schembri, Regenvanu noted the crucial role of adopting appropriate regulatory frameworks for the blockchain industry and Initial Coin Offerings (ICOs).…

Lithuania Voices Concern Over ICO, Crypto Trading

Lithuanian authorities held a seminar examining the “threats and potential benefits” of Initial Coin Offerings (ICO) to the country’s economy, a press release reported Wednesday, October 3, amid an ongoing investigation into cryptocurrency trading habits. The Financial Crime Investigation Service (FCIS) organized the meeting, which included representatives from government ministries, the central bank, and the General Prosecutor. According to the press release, the gathering revealed that Lithuanian processes “huge” turnover from crypto to fiat. Antonio Mikulsk, head of the FCIS, said: “Virtual currency has huge cash flows, but (there are)…

70% of Small-Cap Cryptocurrency Tokens Worth Less than ICO Raised

More than two-thirds of small-cap cryptocurrency tokens distributed through initial coin offerings (ICOs) are currently worth less than the startups that issued them raised through their crowdfunding sales, a newly-published report has found. Small-Cap ICO Tokens are Hemorrhaging Value According to the report, which was compiled by cryptocurrency research firm Diar, the 562 ICO tokens ranked outside of the 100 largest cryptocurrency market caps have collectively lost $5 billion in nominal value against what these sales raised for the funding teams, with 70 percent of individual tokens seeing losses. Remarkably,…

Clients File Claim Against Publicly Listed ICO Advisory Firm DigitalX

Crypto firm DigitalX Ltd. has been served with an Originating Application and Statement of Claim. The claim was filed by a group of DigitalX’s clients in Australia’s Federal Court, according to an official announcement published September 28. DigitalX describes itself as a publicly-listed firm that offers Initial Coin Offering (ICO) advisory services, blockchain consulting services and blockchain-related software development. It is reportedly based in the Australian cities of Sydney and Perth, as well as New York, USA. In its announcement today, the firm explains that the claim has been filed…

ASX-Listed DigitalX Hit With Legal Action Over ICO Involvement

Shares in the publicly listed blockchain tech and consultancy firm DigitalX have slumped after it revealed it is facing a legal claim in an Australian court In an announcement to the Australian Securities Exchange (ASX) Friday, the firm says it has been served with an Originating Application and Statement of Claim in the Australia’s Federal Court, which has been brought by a group of investors in an initial coin offering (ICO) to which it was an advisor. The parties are claiming roughly US$1,833,077 plus damages, the company indicates. DigitalX says…