Cryptocurrency 

SEC Charges DJ Khaled and Floyd Mayweather for ICO Promotions

Nobody gets away with fraud in the SEC’s eyes. The latest pair to be hit with SEC charges include pro-boxer Floyd Mayweather and music producer DJ Khaled. SEC Charges Mayweather and Khaled The Securities and Exchange Commission charged the pair with the improper promotion of initial coin offerings or ICOs for cryptocurrencies. Neither party revealed to investors that they were, in fact, paid large sums of money to promote certain ICOs. According to CNBC, a settlement announced Thursday disclosed the charges. According to the settlement, Mayweather never spoke of a $100,000 promotional…

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Bitcoin 

Bitcoin News | SEC Bitcoin (BTC) ETF Delay Causes BTC Price to Drop

The latest Bitcoin news is that Bitcoin (BTC) has taken a major hit this week and has dragged the rest of the cryptocurrency market down with it. At press time, the total cryptocurrency market is sitting at just above $225 billion, which is $75 billion lower than what it was just two weeks ago. Within the last 24 hours, the crypto market has dropped almost $20 billion. Bitcoin News: Bitcoin (BTC) Struggles According to CoinMarketCap, Bitcoin (BTC) is currently trading at $6,509.67, down -8.50% in 24 hours. For the week,…

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ICOs 

The SEC Launched a Fake ICO for Howey Coins

The SEC launched a fake ICO website called HoweyCoins to educate the public on how to keep an eye out for fraudulent initial coin offerings. The SEC Launched a Fake ICO, but Why? HoweyCoins is meant to be an “all too good to be true investment opportunity” that shows how easy it is for scammers to set up something that looks believable. “The rapid growth of the ‘ICO’ market, and its widespread promotion as a new investment opportunity, has provided fertile ground for bad actors to take advantage of our…

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Bitcoin 

Bitcoin ETF Proposals Rejected | SEC Still Has No Faith in Crypto

The US Securities and Exchange Commission (SEC) has rejected nine applications for Bitcoin ETF proposals. The SEC published three separate orders yesterday, highlighting the rejections from the three different applicants. SEC Says No to Bitcoin ETF Proposals This ruling is a blow to Bitcoin bulls who’d hoped the products would have provided a breakthrough for institutional adoption. Last night, the SEC published its rejection of two proposals from ProShares, two from GraniteShares, and five other products from Direxion. The rejections come just one day ahead of the deadline stipulated for a pair…

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ICOs 

SEC Chairman Distinguishes Cryptocurrency from ICO

What is the difference between an ICO and a cryptocurrency? Well, according to SEC Chairman Jay Clayton, Cryptocurrencies such as Bitcoin (BTC) shouldn’t be considered a security, however, the agency chairman believes that an ICO is a security. Why is this though? Basically, it comes down to the risk factor: An ICO is considered more of a risk for investors as many of these “coins” may not make to full fruition – meaning the return promised to investors may never happen. It is also well known that many ICO’s are purely fraudulent/scams…

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ICOs 

Fraudulent ICO Shut Down by SEC

Wow. It is a solemn day for cryptocurrencies everywhere! According to CoinMarketCap, the market is experiencing a big crash with most coins seeing double-digit losses. I wish I could be bringing a lighter tone to this grey picture, but another fraudulent ICO has been shut down by the SEC earlier today. Is such market volatility going to spell the end for cryptocurrency? Between vast and sudden sell-offs and another fraudulent ICO, you begin to understand why so many bears populate this sector. What’s going on? Another Fraudulent ICO Earlier today, the US…

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