CoinPennant Startup to put Copytrading on the Blockchain

Copy traders permit the investment decisions made by a more knowledgeable trader to exert a portion of the funds in their own trading accounts
27 May 2018   259

CoinPennant is going to develop this tendency by channeling advice from instituted traders for those who wish to enter the fast-paced cryptocurrency investment space by using a combined social network and blockchain-based copy trading platform. CoinPennant’s lead business developer, David Hoverman claimed that the fast-growing and volatile cryptocurrency sphere is  daunting to newcomers as the market is beset by risk and fear, uncertainty, and doubt. He explained:

It’s not necessarily due to lack of access but just lack of knowledge. Good, reliable information, especially in relation to trading, is hard to come by, and generally, when you come by it, it’s expensive to obtain.
David Hoverman
Lead Business Developer, CoinPennant

The CoinPennant team firstly presented a subscription-based model according to which the algorithms would be used to analyze market data and push trading indicators to a user’s dashboard. During its study, it pointed out online “signal groups” suggesting information and opinion for a regular financial payment. Some were unreliable, but some were legitimate, as was claimed by Hoverman. This gave the team the idea to deploy its services. 

Together with its original data analysis services, the firm will fold a marketplace for crowdsourced trading advisory services into its platform. Investors will enter the market via a social community that allows them to cooperate with each other and follow those with “master trader” status in the network.

These master traders are people who have been trading Bitcoin and ether since Bitcoin was priced at $500. They could be either individuals or groups who are really good at technical and fundamental analysis and merging the two together to predict the market movements.
David Hoverman
Lead Business Developer, CoinPennant

Newbie traders can shadow the established traders in two ways. The company will also fallback 26 percent of the total tokens produced by the founders and team, 10 percent for advisors and partners, 7 percent for early adopter master traders, and 12 percent for an airdrop. The exact number will be determined by the means contributed. 

The presale and crowdsale are to held in Slovenia, where the most of the founding team resides. CoinPennant will soon declare further details of the crowdsale, that  Hoverman claimed will not be suggested to U.S. citizens.

SEC to Slap ICO Founder With $30K Fine

Additionally, David Laurance, founder of Tomahawk Exploration LLC got 2 lifetime bans
15 August 2018   118

The US Securities and Exchange Commission (SEC) on Tuesday reported that it has issued two new bans directed against David Laurence, the founder of Tomahawk Exploration LLC. Tomahawk allegedly stands behind fraudulent ICO, writes CoinDesk.

Laurence, according to the SEC, raised funds through the sale of Tomahawkcoin tokens, in the process of using misleading advertising materials and fraudulent statements that it is a tenant of drilling sites.

Moreover, the sale of Tomahawkcoin tokens, according to the SEC, was accompanied by a false promise that "the holders of tokens will be able to exchange Tomahawkcoin for shares and receive a potential profit from oil production and secondary tokens trading."

According to the SEC, Lawrence neither acknowledged nor denied the charges, but he and his company agreed to these bans, as well as a fine of $ 30,000.

...Tomahawk issued tokens as part of the Bounty Program to generate interest in the ICO, which benefited Tomahawk. Distribution of tokens that are securities in exchange for promotional services to advance the issuer's economic objectives or create a public market for the securities constitute sales for purposes of Section 5 of the Securities Act and Section 10(b) of the Exchange Act and Rule 10b-5 thereunder.
 

SEC

The first prohibition of the SEC is a ban on the director's work in public companies, and the second does not allow Lawrence to own and trade in so-called "penny" shares. Both prohibitions, according to the announcement of the SEC, are lifelong.