CBOE President to Warn ICO Community

Chris Concannon believes that «the reckoning will come in two waves»
20 June 2018   1927

According to the president of the CBOE Chris Concannon, soon the market of ICO will face new regulatory constraints. This is reported by Business Insider.

Concannon is convinced that at first the Securities and Exchange Commission (SEC) will put ICO tokens under attack. The coins issued during the ICO will be recognized by the SEC as unregistered securities. In turn, this will devalue a significant part of the assets of crypto-investors.

The next stage of the "payoff," the CBOE president is sure, will begin along with a wave of collective suits against ICO projects. Concannon also noted that because of regulatory uncertainty in the market, it is unlikely that ICO-investors in the near future will sleep peacefully.

The actual party that offered the unregistered coin, they could have been involved in issuing an unregistered security. Anyone who sold that off could be deemed an unregistered underwriter.
 

Chris Concannon

President, CBOE

For the first 6 months of the current year ICO-projects attracted more than $ 9 billion. This is more than twice the total amount collected by the ICOs for the whole last year.

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   936

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.