Bittrex to Cancel RAID Crowdsale

The official reason was cancelation of the strategic partnership between the RAID project and the OP.GG company
15 March 2019   1266

Bittrex International Cryptocurrency Exchange announced the cancellation of the first IEO on its platform. The official reason was cancelation of the strategic partnership between the RAID project and the OP.GG company. Representatives of the trading platform felt that in such a situation holding a tokensale contradicts the interests of investors.

Another reason for Bittrex decision could be an investigation published on Coinspeaker.

So, it turned out that the Singapore company issuer ONERAID PTE. LTD is not in the official register of legal entities from the Singapore company regulatory authority (ACRA). At the same time, several company names contain the word “Raid”: one sells alcohol, the other sells clothing and accessories. A few more are registered before 2010 and seem inactive.

It is noteworthy that any information about the company is missing in Google. Also no LinkedIn and Facebook accounts of founders were found. The founder of OP.GG Cheonwoo Park, whose company, according to Forbes, attracted 32 million active users in 30 countries, could not be found in social networks.

OP.GG has stopped all potential business discussions related to RAID project and there will be no economic and technical cooperation with RAID coin.
In addition, OP.GG has no intention of developing any blockchain related business utilizing RIOT GAMES data.
OP.GG will take all possible legal measures against individuals or organizations disseminating false facts related to this.
Thank you.
 

OP.GG Website

At the same time, the project’s Twitter itself says that it has nothing to do with RIOT GAMES.

At the same time, all the names of the co-founders are South Korean. The fact that the non-existent Singapore company most likely did not hire a single Singaporean also seems strange.

In light of the opening facts, the decision to change the XRD ticker to RAID also looks suspicious. It was probably taken in a hurry, since the RaidOfficial Twitter account has already existed since May 2010.

Neo Foundation to Withdraw $11M From Cold Wallet

These funds will be used to finance its operations in currrent reporting year and $190M are stiill in the vault
26 March 2020   878

On March 25, the Neo Foundation announced the withdrawal of 1,660,865 NEO ($ 11 million) from the cold wallet to finance its activities in the current reporting year. About $ 190 million are still in reserves.

According to rules established in the Neo White Paper, the NEO tokens maintained by the Neo Foundation are mainly used to continuously support Neo's technological development, ecosystem growth, community expansion and the normal operations of the foundation and related organizations. 

 

Neo Foundation

According to the publication, 1,660,865 NEOs were transferred “from a blocked account to a current account”. As the information on the blockchain shows, these funds were directed to an address containing 14.6 million NEO or about $ 100 million. The project does not disclose who controls this address and what fate awaits the released tokens.

White paper Neo suggests that project costs in any given year should not exceed 15 million tokens. In the near future, a financial report for 2019 will be published.

At the time of publication, NEO is the 23rd largest asset on the market with a capitalization of $ 479 million. The price of one NEO is $ 6.79.