$257 Million ICO Project Filecoin Has New Launch Schedule, Gemini Custody Solution

After facing multiple delays, Filecoin (FIL) is now looking toward a mainnet launch in Q3 2020 — which will be supported by a Gemini exchange custody solution. Filecoin will send ICO participants their FIL coins on Gemini’s custody platform after the project’s expected Q3 launch, Gemini said in a Feb. 25 announcement. A file storage solution The Filecoin project is a decentralized storage system based in the cloud. Its InterPlanetary File System, or IPFS, requires FIL coins as payment to miners in exchange for storage space. “Filecoin believes this decentralized…

Users Pay $1M for Digital Land as 2017 ICO Finally Opens Virtual World

Almost three years after its ICO, Decentraland has opened its platform — a virtual world in which participants buy and sell fake land, as well as construct buildings.  Over the past ten days, Decentraland gamers have purchased over $1 million worth of digital anchorage on the Ethereum-based virtual reality product, Bloomberg said in a Feb. 20 article. Decentralanders use the project’s native crypto asset, MANA, as payment within the game.  Users interested in Decentraland Conducting its ICO during the crypto craze of 2017, Decentraland raised over $20 million selling its…

ICO Project Enigma Settles SEC Charges Over $45M Token Sale

The U.S. Securities and Exchange Commission (SEC) has settled securities law violation charges with Enigma MPC, a blockchain startup which raised $45 million in a 2017 token sale. The regulator announced Wednesday that under the settlement, Enigma will refund “harmed investors” using a claims process, register its tokens as securities with the SEC, file reports to the agency and pay a further $500,000 as a penalty. Enigma sold ENG tokens in 2017, which the SEC said are securities. Engima did not qualify for an exemption from securities registration requirements, according…

Korean ICO Project Shuts Down, Says ‘Negative Perceptions’ of Crypto Made Business Impossible

An $8 million ICO project is shutting down, citing regulatory uncertainty and difficulties in onboarding new users. Content-sharing platform Contents Protocol announced Wednesday that following numerous attempts to turn its business into a success, the firm is closing down and refunding investors as much as $7.5 million-worth of the ether (ETH) raised in its initial coin offering (ICO). “We inform you that due to continued regulatory uncertainties in cryptocurrency and lack of business prospect, we have decided to end our project,” reads an announcement that has now wholly replaced Contents…

CFTC Asked to Provide Opinion in SEC Case Against Telegram ICO

A U.S. judge has asked lawyers from the Commodity Futures Trading Commission (CFTC) to provide an opinion in the case brought by the Securities and Exchange Commission (SEC) against Telegram’s $1.7 billion token sale. On Thursday, Judge Kevin P. Castel of the Southern District of New York issued an order inviting the CFTC’s office of the general counsel “to express its views on the issues presently before the Court.” The opinion can be submitted in writing, the judge said. Whether “gram,” the cryptocurrency of Telegram’s TON blockchain, is a security…

Listia Raised $15M With Its XNK ICO. Now It’s Ditching the Token for Props

Listia is discontinuing work on the Ink protocol, a cryptocurrency built for marketplaces, CoinDesk has learned. The project was funded with a $15 million token sale for the XNK ERC-20 token, which announced results in January 2018. Listia, a used-goods marketplace, is now shifting entirely to the props network, created by Union Square Ventures–backed startup YouNow. “We are not shutting down anything like the team, operations or any of the new tech that we have built but, yes, we have decided to move our apps and tech on top of…

Court Documents Reveal More Possible Investors in Telegram’s $1.7B ICO

Some big names that may have invested in Telegram’s token sale are surfacing in court documents as the company fights a case brought by the U.S. Securities and Exchange Commission. The list includes some prominent individuals as well as investment firms. One of them, a former board member of Bitcoin Foundation and a partner of Ribbit Capital Micky Malka, is mentioned in the deposition of Telegram CEO Pavel Durov. Asked if Telegram knew which of its investors could be a validator in TON proof-of-stake blockchain, Durov said: “We didn’t put…

SEC Charges $600,000 ICO Project Opporty for Fraudulent Security Offering

The Securities and Exchange Commission (SEC) has charged Sergii Grybniak, the founder of the initial coin offering (ICO) project Opporty, according to a Jan. 21 press release. Despite raising approximately $600,000, the commission targeted Grybniak for falsely declaring the project as “100% SEC compliant.” Opporty launched its ICO between September and October 2018. The project purported to provide a “blockchain-based ecosystem for small businesses and their customers,” primarily in the United States. The platform was meant to be a place where small businesses could list their services and enter into…

SEC Charges Blockchain Marketplace Opporty Over ‘Fraudulent’ $600,000 ICO

The U.S. Securities and Exchange Commission (SEC) is taking action against yet another ICO issuer: blockchain-based B2B marketplace Opporty. In a complaint filed on Tuesday, the SEC alleges that, from September 2017 to October 2018, Opporty International, Inc. and its founder and sole owner Sergii Grybniak conducted a “fraudulent” sale of digital assets called OPP Tokens, raising around $600,000 from roughly 200 investors in the U.S. and elsewhere. However, the defendants did not register the tokens with the regulator, which alleges that the ICO constituted a securities offering. Further, the…

SEC Charges ICO Operator Who Used Alias After Past Conviction

The U.S. Securities and Exchange Commission charged CG Blockchain Inc., BCT In. SEZC and their operators Boaz Manor and Edith Pardo with fraud, alleging he raised $30 million through an initial coin offering (ICO). The SEC alleged in a press release Friday that Manor hid a past criminal conviction by working under an assumed name, passing himself off as an employee of Pardo’s to raise funds for BCT. As part of this effort, Manor allegedly “darkened his hair [and] grew a beard” out of concerns that his actual identity might…