Initial Coin Offerings
- The 30 million visitors of the torrent website are now one click away from purchasing Pirate tokens.
- The token itself appears questionable at best, with upwards of 99.9% of its supply still belonging to the token creator.
- Robert Farkas was sentenced to one year in prison for conducting an illegal ICO.
- Farkas and other Centra Tech founders defrauded investors out of $25 million in 2017.
- The firm had made false claims to have received regulatory approval from various agencies, one of which was fabricated.
- Blockvest and its founder will need to pay $696,000 in civil penalties, and abide by a number of restraints and conditions moving forward.
- The proposed joint settlement is not final, and still requires approval from presiding judge Alvin Hellerstein.
- If approved, the settlement will enjoin the firm against future securities law violations, and make it pay a $5 million fine.
- The firm now has 14 days to issue a press release, informing its investors of the SEC's order, and beginning the process of offering refunds to investors.
- The firm has also agreed to register its SALT token as a security with the regulator, and pay an additional $250,000 civil penalty fine in the next 10 days.
- The sale aimed to gather the most number of participants in order to secure SKALE’s network.
- The Phase 2 platform is said to provide customers with access to fast and secure chains, with significantly lower gas fees.