- Impact
- 24,865
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...β
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 Facebookβs $5 bill SEC fine, criticized
Outcome, could have been; much, much worse.
Big win, for Domain industry and cryptocurrency.
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...β
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 Facebookβs $5 bill SEC fine, criticized
Outcome, could have been; much, much worse.
Big win, for Domain industry and cryptocurrency.
Last edited: