Items Tagged with 'ICO'

ARTICLES

  • SEC halts $600 million alleged cryptocurrency scam that aimed to revolutionize banking

    AriseBank claimed it was building the world’s first “decentralized bank”
    The Securities and Exchange Commission halted the operations of a company that claimed it raised $600 million in an initial coin offering as part of an effort to “revolutionize banking” using cryptocurrency. The SEC complaint alleges that AriseBank used social media, a celebrity endorsement (from Evander Holyfield, no less), and other tactics to raise hundreds of millions of dollars in just a few months.
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  • SEC says "first ever cryptocurrency backed by real estate" is a fraud

    Accuses REcoin’s founder of lying about initial coin offering
    Back in July, a company called REcoin Group launched REcoin, which it billed as the “first ever cryptocurrency backed by real estate.” But, according to the Securities and Exchange Commission, REcoin and its initial coin offering were a fraud designed to bilk unwitting investors.
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