The Mystics May Be Here, But Are Crypto’s Cards in Reverse?

There’s a man and a woman dancing beneath a lush wreath held up by four wands, crystals protruding from their tops. “It’s a good card to pull.” The Four of Wands. In front of me – my life – there’s good times, happiness, good fortune. Reading from an online tarot card symbology site, my friend and tonight my forecaster says, “If you have been working on a project, this card indicates you will reach an important milestone and will have cause to celebrate. You have completed a significant phase of…

Fraudsters Take Aim at Investors in Controversial KodakCoin ICO

A representative for the company behind the long-in-the-making KODAKCoin initial coin offering (ICO) has accused a Hong Kong-based cryptocurrency exchange of “fraudulent” behavior by claiming that it will host the token sale. According to a page on the Hong Kong-based exchange LBank.io, the platform’s ICO section said it is about to open the KODAKCoin token sale on Friday, May 4 at 20:00 Beijing time, or 12:00 UTC, which will end at the same time on May 11. But platform behind the digital rights management-focused coin first unveiled in January says that…

These ICO Investors Are Getting Their Money Back – And It’s Not Clear Why

Regulatory uncertainty appears to be arriving late to Washington state. In what seems like the latest sign concerns are impacting initial coin offerings (ICOs) broadly, Seattle-based Dragonchain is forcing one of its affiliate projects, Norwegian startup Iagon, to return funds it raised from investors back in April – and it’s currently unclear why. In fact, on April 28, the day its presale was scheduled to end, Iagon published a Medium post explaining to investors that the sale had been paused. Notably, it wasn’t Iagon’s idea; the company had recently joined an incubator…

CoinDesk’s Super-Secret Guide to Planning the Hottest ICO Launch Party

*Inspired by true stories At CoinDesk, we believe that you can put a blockchain on, in or next to anything. (It’s possible that we may even be blockchains). And certainly there’s no better place that blockchains can solve a real-world problem than here at CoinDesk. Let’s face it, today’s reporters struggle to cover the cryptocurrency space. From not using every article to highlight the benefits of HODLing to letting some nocoiners just show up and yap FUD, we know our reporters have really held the industry (at least the price) back.…

The SAFT Is Alive But Who Knows How Well

Risky and rational. That about sums up the state of U.S. token sales in the wake of new dialogue on whether the mechanism, by which startups are issuing custom cryptocurrencies to raise funds, is compliant with the law. Lost in the dialogue, however, has been that there are many more specific types of token sales. In fact, when developers have an idea for a distributed project, they often raise money with what’s come to be called a “simple agreement for future tokens” or a “SAFT.” (A method that’s often synonymous with…

Compliant Airdrops: CoinList Service to Offer Investors Free Crypto Giveaways

Who thought giving something away could be so complicated? That’s the question crypto innovators have had to come to terms with since the concept of “airdrops” – or the practice of gifting tokens in massive giveaways – has come under the scrutiny of government regulators. But with the launch of a new product Wednesday, CoinList, an initial coin offering (ICO) facilitator spun out of the renowned startup incubator AngelList, is looking to streamline the process of airdrops in a way that doesn’t run afoul with the law. Aptly named Airdrops, the product…

Mutual Fund Giant Bars Employees from Investing in ICOs

Capital Group, an 87-year-old financial services company with $1.7 trillion in assets under management, has barred its associates from investing in initial coin offerings (ICOs). The firm outlined the policy in an updated code of ethics that was filed with the Securities and Exchange Commission (SEC) on April 19. Capital Group’s website includes a previous version of the document, which is dated October 2016 and does not include any mention of ICOs. The updated code of ethics reads: “All associates and immediate family members residing in the same household may not…

Down Not Out: Revived Tezos Team Predicts Mega-ICO Will Launch In 2018

Don’t call it a comeback. Tezos, the blockchain project backed by the largest ever initial coin offering (ICO) at the time of its 2017 launch, hasn’t exactly been able to translate its hype into success as yet. Hamstrung by series of legal woes, the open-source software, designed for blockchain governance, has spent months ironically held back by real-world challenges similar in spirit to those it was designed to overcome digitally. But after a whirlwind transition at the non-profit that oversees the software, the protocols creators and investors are moving swiftly toward…

Why ICOs Could Eat Delaware’s Lunch

Andrea Tinianow, Esq. is chief innovation officer at Global Kompass Strategies and was, until January, head of the Delaware Blockchain Initiative. David Adlerstein is a corporate attorney at Wachtell, Lipton, Rosen & Katz.   The views expressed in this article are solely those of the authors. Over many decades, the State of Delaware has established a preeminent position as the jurisdiction of choice for businesses to organize, ranging from S&P 500 companies (a majority of which are incorporated in Delaware) to countless startups and LLCs.   This is not by…

Rappers, Ravens and Lord of the Rings: In Crypto Coin Game, ‘Dope’ Names Pay

In the Lord of the Rings trilogy, “mithril” is a rare, indestructible metal whose beauty never tarnishes; in the real world, however, it’s the name of three different blockchain projects, all of which are trying to score pop culture points with investors. It’s of little surprise that the name has proven so hot in the crypto world – “Lord of the Rings” is, after all, the geek culture equivalent to Shakespeare, and there’s no lack of geeks in the cryptocurrency community. Indeed, cryptocurrency projects of all kinds are branding themselves…