How BlockEx Went from $24 Million ICO to Layoffs in Less Than a Year

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BlockEx, a London-based platform for launching and exchanging tokens, was beset by a series of setbacks that led to downsizing.

ICO Firms Paid Themselves $24 Billion Absent of Accountability or Much Effort

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A BitMex report highlights the egregiousness of the ICO craze of 2017. Cryptocurrency companies were able to raise millions absent of accountability and with little work, and at the expense of likely unsophisticated buyers. The scathing report, released on Jan. 16th by BitMEX, on the ICO market in 2017-18 concluded token startups raised over $24 billion during…

European Banking Authority Calls for New Unified Legislation Regarding Crypto Assets

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The European Banking Authority has published its assessment of laws regarding crypto assets and urged the European Commission to draw new pan-EU rules that would increase consumer protection. Current EU Laws Enable Manipulation, EBA Says The European Union could be implementing a new set of laws regarding cryptocurrencies in the following year, as the Union’s…

The Biggest Problem for ICOs? In 2018, It Was Their Own Investors

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Hashed CEO Simon Seojoon Kim looks at the inherent limitations of ICOs, in particular the belief that “anyone can invest in an initial project.”

ICOs and the SEC’s Extraterritorial Jurisdiction: A Brief Primer

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In just the last few months, the SEC has brought successful enforcement actions against EtherDelta, Paragon, Airfox, DJ Khaled and “Money” Mayweather himself, all predicated directly or indirectly on unregistered Initial Coin Offerings (“ICOs”). These settlements confirm that the SEC can and will target domestic ICOs for enforcement. But what about foreign ICOs? All those…

Decentralization Is Not the Answer

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These are turbulent days for crypto. The price of Bitcoin on Coinbase dipped to $3300 in early December, its lowest point since August 2017. The amount of capital raised through ICOs has declined in the second half of 2018, and the flow of U.S. money into new ICOs dried up well before that. The specter…

International Cooperation ‘Critical’ to SEC Action Against ICOs

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Steven Peikin, co-director of the enforcement division of the U.S. Securities and Exchange Commission (SEC), recently described international cooperation as playing a critical role in facilitating investigations in the initial coin offering (ICO) sector. Also Read: Chinese Miners Short BTC Markets to Hedge Against Falling Prices  ‘Daunting Task’ of Identifying Misconduct Speaking at Harvard Law School,…