Prices of some major cryptocurrencies shifted down last week after reports emerged that the U.S. Securities and Exchange Commission is looking to start cracking down on the ICO industry. The regulatory agency is said to be issuing scores of subpoenas and other information requests to companies in the space, all in an effort to try and learn more about the mechanics behind ICO token sales and pre-sales.
The SEC has hinted in previous months that some of the activity going on in the ICO ecosystem might be in violation of existing securities laws. A new SEC cyber unit shut down an ICO in December after allegations swirled how the offering was fraudulent. Despite the recent actions by the SEC, the ICO market looks to potentially surpass even the most bullish of estimates in 2018.
Messaging app Telegram has dominated news cycles after information about their ICO fundraising plans has come to light. Rumors are the company is looking to launch a second pre-sale, but additional unconfirmed chatter speculates Telegram has already raised about 3.8 billion dollars so far. Media outliers in Russia were reporting that investors are already marketing purchased pre-sale tokens at a 20-30% upcharge. Telegram’s fundraising operations have already shattered ICO fundraising records, and additional money is expected to pour in due to the app’s 200 million-strong user base, who are expected to use the tokens to buy and sell on the platform.
Authorities in the Marshall Islands also announced plans to roll out their own cryptocurrency and launch an ICO to raise funds. The announcement came after the nation’s parliament voted to make the ‘Sovereign’ digital currency official tender. Minister-in-assistance David Paul said cryptocurrency exchanges would be encouraged to adopt the virtual currency on their own platforms for buying, trading, and selling.
Some of the raised funds are slated to go towards citizens who have been suffering from illnesses related to nuclear testing from the United States in the years following World War Two. There’s also speculation the adoption of the Sovereign, and the ICO, could be a move to help the island escape its dependence on the United States Dollar.
Optimism about the cryptocurrency and ICO market still remains high due to the vast amount of legitimate offerings that are hitting the market. Many companies launching ICOs right now are made up of passionate teams who are looking to raise money for projects that can change the world.
We have been watching a few ICOs that seem to have some interesting ideas and are also coming out this week. All we are doing is just presenting online information from a variety of different resources. We are not financial advisors. Please talk with an experienced and professional financial advisor before spending money investing in an ICO or in cryptocurrency.
This week we’re going into depth on Datarius (DTRC), EQUI Capital (EQUI), and Vestarin (VST). Datarius is looking to take advantage of decentralized blockchain technology to become a full-service crypto bank with a variety of financial services. EQUI Capital hopes to foster and promote a wide array of entrepreneurs across business sectors to get investment from traditional VC fundraising. Vestarin is looking to create a digital community and marketplace for buyers and sellers, while also encouraging networking across those in the cryptocurrency space. We researched each of these projects, and in the rest of this article, we explore what you need to know about the underlying value of each and why they might be worth investigating.
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