$60M Nebeulas to Lay Off 60% Staff

50 people how to look for a new job due to optimizations in another blockchain startup
23 January 2019   361

The Nebulas blockchain startup team has been reduced from 80 people to 30. The roadmap of the project has also been revised. It is reported by CoinDesk.

Since last summer, a number of cuts have occurred in the project. Also, the startup had to abandon some minor projects listed in the roadmap. According to Nebulas management, side projects will be frozen at least until the NAS token rate is restored.

One of the reasons was the market price kept going down. Another reason we decided to cut off the unimportant projects like third-party wallets [was that they are] not core to the main tech visions mentioned in the [Nebulas] white paper. So the dev team of that project was first impacted.
 

Becky Lu

Spokesperson, Nebulas

It is noteworthy that the decision became known only seven months after the project raised $ 60 million through a tokensale. Lou did not clarify whether the decision was due to possible financial difficulties.

Nevertheless, the project is gradually developing. So, at the end of last year, the company launched a testnet NOVA, designed to measure the quality of blockchain data.

Gladius to Register Token as Security & Refund Investors

Startup self-reported in SEC on unregisted securities offering and cooperate with Commission, so it won't be fined
21 February 2019   102

Cryptocurrency startup Gladius Network LLC has informed the US Securities and Exchange Commission (SEC) about the sale of unregistered securities. On February 20, the SEC filed relevant charges.

During the ICO, the Gladius project raised $ 12.7 million in cryptocurrency equivalent for the development of a network for leasing computing facilities to protect against cyber attacks. The SEC stressed that the startup did not register their tokens as securities, as required by federal law, and did not agree to exclude them from the rules in the legal manner.

Moreover, tokensale was held after the publication of the SEC report on the situation with The DAO, in which the regulator stated that ICO can offer securities.

The press release says that Gladius contacted the SEC in the summer of 2018 and expressed interest in cooperating with the investigation. Thus, the agency refused to levy a fine, because the startup voluntarily agreed to return the funds to investors who require it and register the token in accordance with the provisions of the Securities Act of 1934.