ICO (Initial Coin Offering)

SEC Wins Case Against Rivetz Corp Over ICO

Tuesday. October 1 at 12:30 PM

1 min. read

The US Securities and Exchange Commission achieved another victory in a case against Rivetz Corp and its CEO, Steven Sprague, regarding an ICO. In a recent ruling, a Massachusetts federal court judge agreed with the SEC's claim that Rivetz sold unregistered securities through its RvT token offering to US investors. Despite Sprague's argument that the token was a software product, the judge found that statements made by Rivetz tied the token's value to the creation of a security ecosystem. The court determined that the token's worth was linked to Rivetz's efforts, meeting the criteria of an investment contract under the Howey test. The SEC was directed to propose injunctive and monetary relief by a specified date. This ruling follows a similar case where the SEC prevailed against Opporty International for selling unregistered securities through an ICO.

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Investors Sue 'Hawk Tuah' Memecoin Creators Over Alleged Securities Violations

Friday. December 20 at 8:00 PM

Investors have filed a lawsuit against the creators and promoters of the 'Hawk Tuah' memecoin, claiming it was an unregistered security that led to significant financial losses. The lawsuit, filed in the US District Court for the Eastern District of New York, targets Tuah The Moon Foundation, overHere Ltd, founder Clinton So, and influencer Alex Larson Schultz. The token's value plummeted by 90%, resulting in over $151,000 in losses for investors. The memecoin, inspired by Haliey Welch, leveraged her internet fame to attract investors through pre-sale campaigns and discounted offerings. Despite attempts to evade US securities laws, the creators allegedly failed to restrict sales to US investors. The collapse of the HAWK token, following a rapid market cap surge and subsequent crash, mirrors other failed celebrity-related memecoins this year, highlighting the risks associated with such investments.

ICO (Initial Coin Offering)

Revolutionizing Investment with RCO Finance Crypto Presale

Monday. December 16 at 2:00 AM

RCO Finance's crypto presale is revolutionizing the investment landscape, attracting both novice and experienced investors with its innovative approach to portfolio growth. The platform's user-friendly interface and clear advantages make it a popular choice for those looking to kickstart their financial goals in 2025. With its AI-driven Robo Advisor at the core, RCO Finance offers tailored financial strategies to users of all levels, ensuring a personalized and risk-conscious investment experience. By monitoring real-time market trends and offering a wide range of investment options, including derivative products and Ethereum ETFs, RCO Finance caters to diverse investment preferences. The platform's emphasis on security, ease of access, and potential high returns through its ongoing presale of the RCOF token further solidifies its position as a promising investment opportunity in the crypto market.

ICO (Initial Coin Offering)

Investing in WallitIQ (WLTQ) Altcoin: A Stable Alternative to Dogecoin

Sunday. December 15 at 9:00 AM

As January approaches, the question arises: can Dogecoin reach $1? Despite a recent rally to $0.40, the price dropped by 7.3% in the last week, leaving uncertainty among analysts and holders. An upcoming altcoin presale, WallitIQ (WLTQ), is gaining attention for its potential 70,000% rally, attracting investors looking to diversify. Early buyers have already seen significant gains, with prices expected to rise further. While optimistic forecasts suggest DOGE could hit $1 or even $1.5, the volatile nature of meme-driven prices makes it uncertain. In contrast, WallitIQ (WLTQ) offers stability and growth opportunities, with features like low fees, secure transactions, and real-world utility. Investors stand to gain up to 180% APY and significant returns if the altcoin reaches its projected rally. Act now to secure profits before prices surge and the presale ends.

ICO (Initial Coin Offering)

ASIC Fines Kraken Operator for Regulatory Violations

Thursday. December 12 at 1:00 PM

The Australian Securities and Investments Commission (ASIC) has successfully prosecuted Bit Trade Pty Ltd, the operator of the Kraken cryptocurrency exchange in Australia, resulting in an $8 million fine. Bit Trade unlawfully issued a margin extension product to over 1,100 Australian customers without meeting regulatory obligations. The company, a subsidiary of Payward Incorporated, is registered with AUSTRAC and operates Kraken’s Australian exchange. In addition to the fine, Bit Trade will cover ASIC’s legal costs. The Federal Court determined that Bit Trade’s product constituted a credit facility under Australian law. The absence of a target market determination (TMD) breached regulatory responsibilities. ASIC Chair Joe Longo emphasized the importance of TMDs in protecting investors. The case highlights ASIC's increased scrutiny of the digital asset sector and the need for responsible product design and distribution. Kraken's plans to shut down its NFT marketplace and launch its Layer-2 blockchain 'Ink' in 2025 are also mentioned.

ICO (Initial Coin Offering)