Initial Coin Offerings
- 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.
- A total of 72 million AVAX tokens are now available for purchase - at $0.50 and $0.85 a piece.
- The ICO is set to raise around $40 million, if it hits the hard cap.
- Ethereum data firm The Graph manages to collect over $5 million from their Initial Coin Offering.
- The company plans on expanding their indexing protocol, allowing for faster and more accurate interactions.
- The total amount of funds raised by the project has now reached $18 million.
- The company is also planning to conduct a public token sale on 8 July, in accordance with the U.S. federal financial regulations.
- The new class action complaint accuses the firm of taking $200 million from U.S. investors during its ICO.
- The development comes only months after the firm paid $24 million to the SEC, after an investigation into the ICO.