JPMorgan Wants to Use Blockchain to Issue ICO Tokens

American investment banking giant JPMorgan Chase is pursuing a patent for a distributed system that uses blockchain technology to issue virtual depository receipts that sound suspiciously like initial coin offering (ICO) tokens. JPMorgan Wants to Host IPOs on a Blockchain The patent application, filed by JPMorgan in January and published by the U.S. Patent & Trademark Office (USPTO) on Thursday, outlines a method whereby users on a distributed network such as a blockchain can tokenize assets and trade these virtual depository receipts. To create a security token, an originator such…

CoinList’s Fifth ICO Is a $61 Million Bid to Tokenize All the Assets

The website aiming to be the gold-standard for token sellers has been picking up the pace. Since spinning off from venture capital giant AngelList last October, New York-based CoinList has been able to make a spot on its website a coveted place for serious projects, even in a crowded market for compliant coin offerings. So, on Monday, the wider world of token entrepreneurs and investors took notice when the company opened registration for its fifth sale. The new entrant? TrustToken, a platform that aims to simplify trading real-world assets on a blockchain.…

Trends of the Rollercoaster ICO Market in 18 Months

Disclaimer: This article does not contain investment advice or recommendations. Every investment and trading move involves risk, you should conduct your own research when making a decision. The market data is provided by ICObazaar. Stats on where ICOs are mostly coming from, and what they are mostly about, paint an interesting insight into the ecosystem. As does the data on how the ICO market has changed into 2018. The biggest month for ICO investment was just four months ago, and 2018 has also seen the time taken to complete and…

The Infamous ICO Trying to Rebound Amidst Lawsuits and Disputes

On June 30, almost a year after the widely successful ICO — a project that raised $232 million worth of BTC and ETH back in July 2017, setting a record at the time  — which was followed by an internal dispute and several class-action lawsuits, the Tezos Foundation has finally launched its beta network. Here’s how the project started, what caused the infamous delay and why the anticipated launch comes with reservations. ‘The last cryptocurrency’: What is Tezos? Tezos was developed by Arthur Breitman, who studied applied mathematics, computer science…

Xiaomi Denies Authorization of ICO Token That Pegs to Its IPO

Smartphone maker Xiaomi said it has not authorized and has no connections to an initial coin offering scheme that is selling a token which is said to peg to Xiaomi’s stock price in its upcoming initial public offering. The Chinese smartphone maker is currently scheduled to go public on the main board of the Hong Kong Stock Exchange on July 9. Aiming to raise $4.7 billion, Xiaomi’s IPO is seen as one of the most notable public offerings in Hong Kong this year. And the anticipated IPO appears to have…

PwC Report Finds That 2018 ICO Volume is Already Double That of Previous Year

According to a joint report from consulting firm PwC and the Swiss Crypto Valley Association, Initial Coin Offerings (ICOs) are booming despite the price collapse of cryptocurrencies, Cointelegraph auf Deutsch reports today, June 29. PwC found that ICO volume reached new record highs in the first half of 2018. Per the report, between January and May 2018 alone, ICO volume is already twice as much as it was during the entire year of 2017. PwC Switzerland writes in an accompanying press release: “In total, 537 ICOs with a total volume…

US Congressman Says ICO Market Needs ‘Light Touch’ Regulation to Provide Certainty

U.S. Representative Warren Davidson (R-Ohio) said the initial coin offering (ICO) market needs “light touch” regulation on CNBC’s Squawk Box today, June 21. When asked about cryptocurrency regulation, Davidson argued that the “big thing” the market needs is a “light touch regulatory framework” which, according to the congressman, would provide more certainty. Davidson stressed the necessity of defining the status of cryptocurrencies, pointing out the recent announcement of the U.S. Securities and Exchange Commission (SEC) that the top altcoin Ethereum (ETH) will be considered a commodity rather than a security.…

This $575 Million ICO With Royal Backing Is So Crazy, It Might Be Real

Crypto loves Lamborghinis. So much so it seems that a startup looking to release movies – early offerings include a biopic about the founder of the car company and his feud with the founder of Ferrari – has raised a whopping $575 million off its private sale of TTU crypto tokens from investors including BlockTower Capital and even a prince. With that, the startup, called TaTaTu, has raised the third largest round ever using the initial coin offering (ICO) model – surpassed only by EOS and Telegram, according to data from CoinDesk’s…

SEC Obtains Emergency Court Order to Freeze Assets of Fraudulent ICO

The U.S. Securities and Exchange Commission (SEC) has received an additional emergency court order to freeze the assets of Dominic Lacroix, owner of PlexCorps, in an ongoing enforcement action, Crowdfund Insider reported June 20. The SEC had previously sued Lacroix for securities fraud and received an emergency asset freeze order in December, 2017. The order was unsealed June 18. The SEC alleges that, since December, Lacroix has been using secret accounts, including an account in his brother’s name which he controlled, to dissipate assets obtained from investors with the PlexCoin…

ICO Market to Face a ‘Regulatory Reckoning’

CBOE Global Markets President Chris Concannon has claimed that the initial coin offering (ICO) market could soon face a two-fold regulatory “reckoning,” Business Insider reports June 19. According to Concannon, the reckoning will come in two waves. First, the U.S. Securities and Exchange Commission (SEC) will classify ICOs as unregistered securities and the holdings of investors would be “rendered valueless.” This would subsequently cause the second wave, as a slew of class-action lawsuits are filed against the companies behind ICO projects: “The reckoning will come in two waves. First, the…