analysis Block.one agrees to pay 24M fine for unregistered ICO (used to buy Voice.com)

[Samer]

Today seems like a slow news day, so thought, add. Remember, the Voice.com record $30 million sale?

Block.one a cryptocurrency startup, acquired domain Voice.com for $30 million; They acquired the funds in $4B ICO. Well, apparently, they didn't tell the SEC. Block.one agreed settle the charges, pay $24M fine; consented without admitting or denying findings.

Genius move, by both sides. $24M is a pittance, considering, they raised billions.

Full details of the SEC case.
Press release of the settlement.

"Block.one for conducting an unregistered initial coin offering of digital tokens (ICO) raised equivalent of several billion dollars over approximately one year. Company agreed to settle by paying $24 million...”

Five things I took:
1) "ICOs" (initial coin offerings) must be registered.
2) Billions raised from ICO..why not buy Block.com.?
3) I didn't know Block was under SEC investigation;
good, they settled, and put this thing behind them.
4) The legitimization of the Voice.com sale, further strengthens, the industry and cryptocurrency
5) SEC keeps handing out "slap on the wrist" fines? Unrelated; but Facebook’s $5 bill SEC fine, criticized

Outcome, could have been; much, much worse.
Big win, for Domain industry and cryptocurrency.

 

[Samer]

Facebook was fined $5 billion by FTC, Not SEC...

Facebook was fined 100 mill in the past.

By the SEC.. I regret nothing!

 

[Zilla]

I guess they are going to (mainly) use voice related tech for their new coin？

 

[Bob Hawkes]

I guess they are going to (mainly) use voice related tech for their new coin？

I may be wrong but as I understand it the voice domain is for a new social media initiative by the company, not directly coin related. Which is why voice was such a nice name.
Bob

 

[Samer]

I may be wrong but as I understand it the voice domain is for a new social media initiative by the company, not directly coin related. Which is why voice was such a nice name.
Bob

Yup. Irony is, unlike most domains, “Voices.com” (plural version of Voice) has well-known backstory,
sold for only $5,000 cash, guy bought it up-front, (using credit card advance) said the domain, was instrumental in his 15M revenue empire...(in 2015!) Maybe, Block is on to something, buying Voice.com..

Great interview, backstory on Voices.com in 2015,
but I couldn't help, feel the need, to post it here.
Shout out to @Michael Cyger. 2015, still priceless.
And Now, looks like
Voices Voice.com found 2 nice permanent homes!!