John McAfee thinks he was poisoned….? Assassination Attempt…?




An ever defiant John Mcafee recovering from an alleged assassination attempt at the Vidant Medical Center in North Carolina
An ever defiant John Mcafee recovering from an alleged assassination attempt at the Vidant Medical Center in North Carolina My wife @theemrsmcafee and I with a message to my incompetent enemies




“And for those who did this – You will soon understand the true meaning of wrath. I know exactly who you are. Youh had better be gone.”




 

China and the gang of four – General Discussion – Xrp Chat

Source: China and the gang of four – General Discussion – Xrp Chat

Yesterday a job posting was discovered at AMEX in their FXIP division and in the job description there was some interesting language that indicated “Santander, Ripple and American Express are launching a block chain service in 2018” it went on in typical job posting fashion talking about how its an exciting time to work in this business unit etc.

Shortly after it was discovered American Express updated the listing and removed the language. I consider this to be a legitimate leak, posted accidentally by a hiring manager, if you work at a large corporation you know that one of the main and only places employees can change public facing web info is through job postings, this is because hiring managers typically create and publish the postings and there are little internal controls to monitor what they put out there, I think someone just made a mistake and now we know a piece of the puzzle.

I then took a look at what is the FXIP business unit, apparently this is American Express’ cross-border payments group that primarily services business-to-business payments, the web page for this group states specifically you don’t need an American Express card to use the service, makes sense.

So the fact that Santander, Ripple and American Express are teaming up is really interesting to me, this is a scenario that not many have speculated or theorized about.

Further digging turned up an article from April that I had read and totally forgotten about until I started looking into this and googled AMEX a bit deeper, the article I found from April talks about American Express being the first US based credit card company to be granted authorization to operate in China, even more interestingly it states that they will operate as part of a joint-venture with mobile payment provider LianLian. LianLian and Ripple announced a partnership in Q1 of 2018.

So now, we have potentially, what I call the gang of four (Santander, Ripple, LianLian and American Express) teaming up to operate in China. China having banned the trade of crypto currencies, but I see this could potentially lead to not the trade of currencies, but a leveraging of them on the back end to operate this service.

Finally, the last thought I had as part of this is, maybe Ripple’s strategy here isn’t to sell xRapid directly to the masses, but to team up with a known and trusted brand like AMEX, so the sales conversations aren’t as strained as “hey use this space age technology, from a very new company” but instead “please use this cheaper, faster service, from a hundred year old brand whose commercials you’ve seen your entire life”

(Note AMEX’s current SLA for cross-border payments is 1 -4 days – I’m sure we can expect a substantial reduction once said new service is launched)

https://www.americanexpress.com/us/content/foreign-exchange/international-payments/?src=Online&digi=onl_lin_ops

https://www.wsj.com/articles/american-express-advances-in-effort-to-access-china-market-1524668149

https://en.wikipedia.org/wiki/American_Express

 

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Edited  by slinuxuzer

DogeCon Bringing Blockchain Memes to Vancouver

Source: DogeCon Bringing Blockchain Memes to Vancouver | NewsBTC

DogeCon is shaping up to be one of the most unique blockchain events in the world. Under the banner of the Doge—the Shiba Inu-turned Internet meme that inspired one of the world’s biggest cryptocurrencies—they are combining crypto-economics, meme culture, and radical decentralization to create unity in the blockchain community.

The first DogeCon will be held in Vancouver, Canada, between June 21-24. There are four main events scheduled over the weekend, with the time in between open as a semi-permissionless showcase of the thriving technology, art, and culture of the city. Crypto-economists, traditional theorists, and decentralist “Shibes” will be invited to discuss some of the fundamental ideas around disruptive technologies such as the blockchain.

DogeCon Vancouver 2018 will be hosted by Carpe Lunam Events Association, a member-run non-profit society that organizes events which promote collaborative community dialogue on blockchain technology, voluntaryism, and non-hierarchical governance. They have partnered with prominent blockchain projects like Presearch, UBIQ, Honey Badger, CoinCards, BitNational, Sam Osei Law Corporation, Chainsafe Systems, CryptoAsylum, ESL Coin and Blockchain Gaming.

“It’s not just a dogecoin convention,’” a representative made sure to clarify. “DogeCon is a serious crypto-economics conference with a playful half, an ‘unconvention’ with special attention paid to elements of gamification, performativity, and participation.”

Attendees will be regaled with talks from Ethereum magicians such as Bob Summerwill and Griff Green. Dogecoin founder Jackson Palmer is also expected to make an appearance, along with representatives of other well-known projects. Entertainment will include a diverse array of live music, from folk guitar at a picnic lunch to vibrant DJ sets and a crypto-nerd rap show.

Plenty of Doge-themed activities are expected, too. There will be a cooperative hackathon, where volunteers will work together to get Dogecoin added to Trezor hardware wallets. They’re also planning a Healing Moon Launch Ceremony with Doge cocktails and artwork, as well as a miniature Puppy Parade.

Most exciting might be the DogeQuest Scavenger Hunt with a one million Dogecoin prize pool. Set in a dystopian cyberpunk future, it will take players on an immersive crypto puzzle adventure throughout downtown Vancouver. Teams will have to contend with wacky obstacles such as Bitcoin maximalist trolls under the bridge; after the game concludes, a public Decentralized Dance Party will commence and continue well into the night.

DogeCon is quickly gaining a large and enthusiastic fan base. Hundreds have responded to their Facebook event, and their Twitter following includes notable personalities such as the Dogecoin Millionaire. Volunteer opportunities will be available to those who cannot afford the ticket price, but make sure to sign up ahead of time.

Tags: blockchain, convention, cryptocurrency, doge, Dogecoin, DogeCon, events, memes, vancouver

Tether Used to Manipulate Price of Bitcoin During 2017 Peak: New Study – Bloomberg

Tether, one of the most-traded cryptocurrencies, shows a pattern of being spent on Bitcoin at pivotal moments, helping to drive the world’s first digital asset to a record price in December, according to research by a University of Texas professor known for flagging suspicious activity in the VIX benchmark.

Source: Tether Used to Manipulate Price of Bitcoin During 2017 Peak: New Study – Bloomberg

“Tether seems to be used both to stabilize and manipulate Bitcoin prices,” finance professor John Griffin and co-author Amin Shams wrote in a paper released Wednesday.

Questions about Tether and Bitfinex have dogged the cryptocurrency world since last year, when Bitfinex lost banking relationships yet continued to operate. The U.S. Commodity Futures Trading Commission subpoenaed both firms in December, seeking proof that Tether is backed by a reserve of U.S. dollars, as it claims. Tether and Bitfinex haven’t been accused of wrongdoing.

“Bitfinex nor Tether is, or has ever, engaged in any sort of market or price manipulation,” Bitfinex Chief Executive Officer JL van der Velde said in an emailed statement. “Tether issuances cannot be used to prop up the price of Bitcoin or any other coin/token on Bitfinex.”

Read more: Bitfinex said to find Caribbean bank after Wells Fargo exit

Griffin and Shams — in a paper titled “Is Bitcoin Really Un-Tethered?” — set out to understand how the 2.5 billion Tether coins in existence have flowed through markets. While little public information exists about how Tether is created, it generally trades for around $1 because each coin is supposed to be backed by $1 of fiat money in a bank. The currency, which started trading in 2015, is pitched as a stable alternative to Bitcoin’s volatility, acting as a haven for crypto investors.

CFTC Commissioner recognizes the “transformative” nature of cryptocurrency.

In regards to crypto “These currencies are not going away and they will proliferate to every economy and every part of the planet… We are witnessing a technological revolution. Perhaps we are witnessing a modern miracle.” -Comissioner Behnam CFTC

Here is our chance to put money directly into the hands of those who need it, without bribery, rake-offs, graft, and shakedowns. Virtual currencies could transform the economic and social landscape. It could mean a massive, and equitable, shift of wealth. Technology could be transformational, without a military take-over, civil war, or political or religious creed.

Benham also spoke about sectors of the United States economy that have tremendous potential to apply this new technology. Here is what he said about agriculture:

Through blockchain technology, finding solutions to these challenges may become significantly more attainable. Food could arrive on grocery shelves faster, using an intricate system of measures meant to trace location from the farm to the table, with the additional bonus of providing abundantly more information about the product source… we could eliminate food waste and even improve distribution through networks domestically and internationally.

 

And about healthcare:

Blockchain could allow patients to create smart records that gather and harmonize information, leading to better continuity of care and even new models of care. Blockchain could also address medical fraud and waste. And, as a result, help contain the rising cost of health care.

Commissioner Behnam signaled that the CFTC was completely convinced that cryptocurrency is primed to permanently disrupt financial and economic sectors. In fact, he is so confident in cryptocurrency’s staying power that his rhetoric ascended from the analytical to the prophetic:

These currencies are not going away and they will proliferate to every economy and every part of the planet… We are witnessing a technological revolution. Perhaps we are witnessing a modern miracle.

AEON Completes Anti-ASIC Fork. But What’s This Path Fraught With? –

No Turning Back

This column most certainly isn’t to pick on AEON, or the AeonCoin community.

Conducting such a fork is something that many communities in the cryptoverse have been grappling with in recent months, and every project will have different needs and arrive at different conclusions, as is their right. The various stakeholders in the AEON ecosystem have collectively decided a PoW shift is the way forward for them, and they’ve committed accordingly to the now successful fork that occurred at their chain’s block of 963,500.

Rather, we’re interested in using AEON’s case as an example for the kinds of realities projects in the space face upon a PoW shift. Potential complicating factors, as it were. Factors that are worth considering and returning to again and again in the ever so game-theoretic cryptoverse.

WATCH: Bitcoin today is controlled by China. There are four miners that control more than 51% of the hash rate and they can control the future of bitcoin.” — Brad Garlinghouse  CEO Ripple… 

“Bitcoin today is controlled by China. There are four miners that control more than 51% of the hash rate and they can control the future of bitcoin.” — Brad Garlinghouse @bgarlinghouse CEO Ripple…

Bitcoin today is controlled by China. There are four miners that control more than 51% of the hash rate and they can control the future of bitcoin.

The Wall Street Journal Just Found 271 ICO Scams | [blokt] – Blockchain, Bitcoin & Cryptocurrency News

Following a recent investigation of over 1000 ICOs, the Wall Street Journal identified 271 raising all the wrong flags. Over $1 billion was lost to these alleged crypto-scams.

Source: The Wall Street Journal Just Found 271 ICO Scams | [blokt] – Blockchain, Bitcoin & Cryptocurrency News

 

You may think that after the BitConnect scandal, and other high profile cases that awareness of scams would be high. However, not only was over $1 billion lost to these alleged scams but out of the 271 ICOs, 80 of those happened in 2018 alone.

Following a recent investigation of over 1000 ICOs, the Wall Street Journal identified 271 raising all the wrong flags. Over $1 billion was lost to these alleged crypto-scams.

You Can’t Even Trust Miss Iowa Anymore

High-profile Paragon Coin has been sued after raising more than $70 million. This Cannabis-centered ICO had the legitimate backing of former Miss Iowa, Jessica VerSteeg.

Paragon promised to bring blockchain to the cannabis industry with VerSteeg and her husband Egor Lavrov, a Russian entrepreneur, at its helm. Among their many plans for the project, the most prominent was the opening of a co-working space in Los Angeles operating solely on their coin. The project was eventually sued for being “overly ambitious, vague, and impractical.”

“Watch as real money moves from the U.K. to the U.S. via OnePay FX” |Live Transaction: Santander’s OnePay FX | Ripple

Watch video of international payment from the U.K. to the U.S. via Santander’s OnePay FX mobile app.

Source: Live Transaction: Santander’s OnePay FX | Ripple

 

Santander recently released OnePay FX — the first mobile application for international payments powered by blockchain technology. Millions of Santander’s customers in Europe now have access to same day, cross-border payments, a critical improvement from the three to five days it traditionally takes to send money internationally.

Watch as real money moves from the U.K. to the U.S. via OnePay FX in the video below.

Ana Botín, Santander Group’s executive chairman said that now 50% of the bank’s annual international transfers are carried by the Ripple-powered blockchain. Santander plans to roll out the OnePay FX service to nearly two dozen more countries in the near future — further increasing its utility and value for customers.

For more information on Ripple’s solutions and how they are powering a new wave of global payments, contact us.

Why are there so many Russians involved in crypto and ICOs? — Quartz – Paragon Coin

Russian programmers have built up an outsize presence in the world of blockchain and virtual assets.

Source: Why are there so many Russians involved in crypto and ICOs? — Quartz

A complicated relationship

Egor Lavrov, chief creative officer for Paragon Coin, a cannabis industry project, visited Moscow recently and said everyone was talking about ICOs and bitcoin. He said even his Wheely driver (an Uber competitor) asked him whether he should invest in ripple, a particularly volatile crypto asset: “They hear stories about people getting rich.”

Paragon, meanwhile, is the target of a potential US class action lawsuit, which says it may have sold unregistered securities when it raised $70 million from investors in an ICO. Paragon said in a statement that it is “dedicated to staying compliant with all applicable laws, and endeavored to do so throughout the entire ICO process.” Lavrov, who was born in Moscow but has lived much of his life in the US, said Paragon has 15 employees in Ukraine.

The Record-Breaking $152 Million Battle Over Blockchain Betting Tool Augur 

An investor and three founders are being sued in a landmark cryptocurrency case centered on the ethereum decentralized application Augur.

Three years ago, Augur, a prediction market system that runs on the ethereum blockchain, held one of the first initial coin offerings (ICOs), long before the funding mechanism gained mainstream momentum.

Between August 7 and September 5, 2015, the project issued 8.8 million reputation (REP) tokens from a maximum circulating supply of 11 million tokens, each priced below $0.60, to raise over $5 million for the project.

Supported by only a handful of team members, Augur devised a decentralized protocol where outcomes of events could be forecasted in a trustless, peer-to-peer manner and rewarded for accuracy with the financial incentive of a native cryptocurrency: in other words, betting, but without the worry of platform providers or government bureaucrats taking control.

Three years after the ICO, reputation tokens have traded as high as $100 per REP, meaning ICO participants have potentially profited up to 200 times on their principal investments. Meanwhile, Augur has matured into a staff of 15 developers, designers and researchers, collaborating with the award-winning IDEO design group to roll out its beta product interface. Ethereum co-founder Vitalik Buterin and Lightning Labs co-founder Elizabeth Stark have also joined on as advisors. Augur’s main network is now expected to launch in July 2018 in what industry veterans have hailed as one of the more compelling use cases for blockchain.

Practically invisible in the midst of the public attention has been a watchful early project member — an absence he claims has been orchestrated as part of a larger conspiracy.

In a civil lawsuit, Matthew Liston, 26, has taken four Augur associates to court, alleging that angel investor Joseph Ball “Joe” Costello, 64, and three other founding members, Jack “John” Peterson, 35, Joseph Charles “Joey” Krug, 22, and Jeremy Gardner, 26, committed fraud, breach of contract, and trade theft in connection with conflicts that arose out of Liston’s termination from the company and his stake in Augur’s token distribution, leaving him empty-handed.

The lawsuit also includes accusations that after his dismissal Liston was coerced into signing a settlement agreement containing terms Peterson appears to have recently broken. Specifically, Liston says that the Augur team reneged on a promise to acknowledge him as a co-founder, preventing him from earning the same professional recognition among industry peers.

The lawsuit states: “Ironically, Matthew Liston has suffered damage to his reputation.

In addition to the executive team, the San Francisco Bay Area company’s initial corporate entity, Dyffy, Inc., has been named as a defendant for allegedly failing to pay Liston back wages owed. Further, the lawsuit names two Forecast Foundation business entities, one registered in Oregon and the other in Estonia, for operating illegally in California while allegedly processing the initial coin offering transactions and misappropriating Liston’s holdings from Dyffy.

According to the lawsuit, Peterson, Gardner, and Costello conducted a hostile takeover of Dyffy, Gardner presided as president and Peterson as secretary over the dissolved Oregon non-profit, and all but Costello currently maintain shareholder status in the for-profit Estonian entity, with Peterson at the helm.

At the time of publication, the market capitalization of REP was $455 million. Liston is seeking $38 million in general damages and $114 million in punitive damages for a total of $152 million in collective damages — more than one-quarter of REP’s market value.

As such, Liston’s legal action constitutes the most significant private lawsuit in cryptocurrency history, superseding even damages sought from industry class-action lawsuits brought against cryptocurrency exchange Coinbase, the Nano cryptocurrency previously known as RaiBlocks, and token-backed marijuana startup Paragon Coin. The numbers, however, fall short of the industry’s more infamous class actions, which have totaled half a billion.

Liston’s attorney, O. Shane Balloun of Balloun Law, did not immediately respond to requests for comment from CoinDesk. Nor did Costello, Peterson or Patrick Gibbs, the lawyer at Cooley LLP representing the entire defense.

But Krug, who still advises Augur, denied the lawsuit’s claims.

“The claims are baseless and inaccurate,” Krug said in a prepared statement. Liston, he said, “accepted a cash severance payment and he signed a full release with Dyffy, and we’re appalled that he’s turned around with a lawsuit three years later.”

Disputing the extent of Liston’s role in the project, Krug went on, “there hasn’t been a single GitHub commit by Liston, on any of the Augur repositories. He’s not a founder of Augur.”

In an email to CoinDesk, Gardner wrote that many of the claims are “demonstrably false” and “this is a superfluous lawsuit if there ever was one.”

Balloun, a former Gmail and Google Product Search engineer, filed the complaint on Liston’s behalf in San Francisco County, California, on April 19, amending it on May 10 to incorporate other information applicable to the claims.

The court has scheduled a hearing in September 2018 for both sides to attend, where the case will be assigned a judge and a trial date will be set.

More at Source: The Record-Breaking $152 Million Battle Over Blockchain Betting Tool Augur – CoinDesk

 

 

Ripple’s CEO says XRP will break free of Bitcoin’s [BTC] price

Source: Ripple’s CEO says XRP will break free of Bitcoin’s [BTC] price

Ripple’s CEO, Brad Garlinghouse stated earlier today that the influence of Bitcoin over cryptocurrency prices will end soon. This is because of the increasing knowledge of different use cases for cryptocurrencies.

Garlinghouse spoke on CNBC’s Power Lunch today about the XRP token and its price. Even as the correlation of price between Ripple’s XRP and the price of Bitcoin exists, he said:

“There’s a very high correlation between the price of XRP and the price of bitcoin, but ultimately these are independent open-sourced technologies. It’s early, over time you’ll see a more rational market and behaviors that reflect that.”

This is in line with what Ripple is trying to achieve in the cryptocurrency space. It is fundamentally different from Bitcoin, Ethereum, and other altcoins, and is focused on solving problems in moving value across the world.

Ripple suffered the most from the bubble pop in January this year. From an all-time high of $3.75, the coin has not ceased its sideways movement. This is in conjunction with the price of Bitcoin, which traded at close to $20000 at the beginning of this year.

On this, Garlinghouse said:

“It’s still a nascent industry, the speculation in the market dominates the trading activity. I think it’s a matter of time until people better understand the different use cases.”

He also spoke about the various different cryptocurrencies in the world today, and how 99% of them won’t exist in the coming years. He further explained that the cryptocurrencies in the market that don’t solve a real problem will not last and that they would be “washed out”.

Regulatory authorities like the SEC have been moving on scams and fraudulent ICOs, as they constitute unauthorized securities. The digital assets offered by the companies directly translate to a stake in the company. On this, Brad said:

“The SEC is getting involved as they should because there have been frauds committed. We have been an advocate of yes the government should get involved, the government should be protecting investors and companies but there’s also examples of real utility.”

He also made it clear that the XRP token is not a security, saying:

“If you own XRP, you don’t own rights to the profits or any dividends to the company. XRP has real utility.”

————————————————————————————————————————–

Bitcoin was meant to be token to be spent, sent, received, and stored. It was not meant to be a store of value and  the gateway coin to other cryptocurrencies on exchanges. Although it has done so very well and serves the crypto space needs at present time. Ethereum has certainly taken it’s position in this space, now the cost of gas and all the token traffic on the network is having traders look past it to get in and out of exchanges with fast, cheap, transfers. Litecoin and Bitcoin Cash etc. cannot compete with XRP.

More exchanges should include XRP as a trading pair option. Soon….

 

Crypto wallet that lured US$35 billion in a year wins IDG backing 

ImToken Pte, a Chinese startup that developed one of the first cryptocurrency wallet apps to support the Ethereum blockchain, gets IDG Capital’s US$10mil backing.

TOKYO: It pays to be early, especially when it comes to cryptocurrencies.

Take ImToken Pte, a Chinese startup that developed one of the first cryptocurrency wallet apps to support the Ethereum blockchain. The free software has attracted 4 million users, who’ve used it to stash US$35bil of crypto assets over the past year, more than at big-name competitors including Coinbase Inc.

The previously unreported figures help explain why venture firm IDG Capital is betting US$10mil on the business. The Series A funding round, announced by ImToken on Thursday, is the latest indication that some investors are looking past this year’s tumble in virtual currencies to back startups seen as vital to the crypto ecosystem.

“We noticed very early the potential of Ethereum and focused on it to differentiate against competitors,” Ben He, the 35-year-old founder of ImToken and its parent company ConsenLabs Inc, said in an interview.

“The growth has been completely organic. We didn’t have any marketing or promotional budget.”

He’s decision to support Ethereum came in 2016, a year before its blockchain became the main tool for crypto startups raising money through initial coin offerings.

Since then, the number of the so-called ERC-20 tokens tracked by Etherscan.io has surged to more than 500. Supporting all of them has made ImToken the world’s largest Ethereum wallet provider, according to He, a self-taught programmer who learned about the tech industry via podcasts including Diggnation and 5by5.

The US$35bil stored in the app over the past year compares with “more than US$20bil” in customer assets held by Coinbase, according to a spokesperson for the US crypto platform.

ImToken users accounted for about 10% of the average daily activity on the Ethereum blockchain since the start of the year and about 21% in May, according to data provided by ImToken and analyzed by Bloomberg.

Source: Crypto wallet that lured US$35bil in a year wins IDG backing – Business News | The Star Online

 

 

e-NetworkAssociates.com: “The introduction of US Dollar (Fiat) trading for approved corporate Bittrex customers… 

The company will use a phased approach, starting with corporate customers

SEATTLEMay 31, 2018 /PRNewswire/ — Bittrex, the premier U.S.-based blockchain trading platform, today announced that it is offering US dollar (fiat) trading for corporate customers and plans to expand these services over time to include all qualified customers. The initial markets for fiat trading on Bittrex will include Bitcoin (BTC), Tether (USDT) and TrueUSD (TUSD).

“As an incubator and leading advocate of blockchain technology, Bittrex is committed to listing tokens that not only have the best business applications, but also are the most innovative blockchain projects in the world,” said Bittrex CEO Bill Shihara. “Expanding fiat markets to the top digital currencies on our exchange should further drive adoption of this revolutionary technology by providing customers even more options for purchasing and trading digital currencies in a secure, robust and reliable environment with high liquidity.”

Shihara continued, “Corporate customers are only the beginning because we also plan to extend fiat to our retail customers and many of our service providers who build on the Bittrex platform. In addition, today’s fiat announcement is the first step in the next evolution of our business, as we’re continuing our expansion, both locally and globally, through new services and strategic partnerships.”

Adding fiat to the wide variety of innovative tokens and coins listed on Bittrex further advances the blockchain industry by providing convenient, fast and secure access to additional trading options that current and potential customers want. In addition, the company’s commitment to security, compliance and incubating innovative projects should provide both customers and blockchain teams confidence in the long-term growth of the platform.

For the fiat trading program, Bittrex is implementing a phased rollout to help establish quality control for the new markets and ensure customers have the highest level of service possible. The first phase, beginning today, enables fiat trading for approved corporate customers in qualified states and international regions. Bittrex will continue to rollout each additional phase to expand the fiat trading to all qualified customers over time.

Initially, fiat trading will be limited in the United States to customers located in Washington StateCaliforniaNew Yorkand Montana. Qualified international customers may participate in the markets as well. Customers will be required to submit to both the standard registration process – including proof that they are operating in qualified U.S. or international regions – as well as other specific fiat terms and conditions.

New corporate customers who want to participate in the fiat market should fill out our corporate account request form, and current corporate customers should apply for fiat trading by completing the fiat trading enablement request form. Once additional phases are rolled out, Bittrex will provide fiat trading instructions for all customers.

About Bittrex
Founded in 2014 by three cybersecurity engineers, Bittrex is the premier U.S.-based blockchain platform, providing lightning-fast trade execution, dependable digital wallets and industry-leading security practices. Our mission is to help advance the blockchain industry by fostering innovation, incubating new and emerging technology, and driving transformative change. Bittrex, Inc. is not a regulated exchange under U.S. securities laws. Learn more at www.Bittrex.com.

Press Contact
press@bittrex.com

SOURCE Bittrex

Related Links

http://www.Bittrex.com

 

SEC Slams Fraud Charges on $21 Million ICO Company – Bitcoinist.com

Titanium Blockchain Infrastructure Services (TBIS) is the latest ICO project charged with fraud by the SEC. The Commission announced on May 29th that a court order had been obtained against the project. Michael Alan Stollery, the CEO of TBIS, is also under investigation by the regulatory body.

Source: SEC Slams Fraud Charges on $21 Million ICO Company – Bitcoinist.com

A LITANY OF FRAUDULENT CLAIMS

The SEC alleges that Michael Alan Stollery (aka Michael Stollaire) employed fraudulent claims to publicize the TBIS ICO. These fraudulent claims include business relationships with major corporations like Walt Disney, Boeing, PayPal, and Verizon. These claims appear on the company’s website as well as tweets posted by Stollery/Stollaire himself. The TBIS CEO even claimed that backing the project was akin to investing in “Intel or Google.”

Commenting on the fraud charges, Robert Cohen, the head of the Commission’s Cyber Enforcement Unit, said that:

This [TBIS] ICO was based on a social media marketing blitz that allegedly deceived investors with purely fictional claims of business prospects. Having filed multiple cases involving allegedly fraudulent ICOs, we again encourage investors to be especially cautious when considering these as investments.