Cypherfunks is swapping to Soniq

Decentralized crowdfunding platform Cypherfunks will undergo a swap on June 1 and become The Soniq
22 May 2018   593

A decentralized global band crowdfunding initiative The Cypherfunks that uses cryptocurrency and collaboration is going to swap to Soniq. Soniq is going to be the skills exchange platform with the world's largest pool of music creatives and experts. The swap will start on June 1 and end on August 1. During this period owners of FUNK are eligible for the conversion into SONIQ token.

After the swap begins, a special Swap Platform will be made available to users. After an email registration, the users will receive an address where they will send their FUNK funds. These funds will be marked as unusable, and as the swap ends the users will receive the corresponding amount of SONIQ token.

The SONIQ funds will be transferred to the Ethereum address provided by users. The swap ratio is as follows:

At the moment of publication, The Cypherfunks market characteristics are as follows:

Average price 0.000033 USD
Market cap 1,578,265 USD
Volume (24H) 673 USD

SEC to Slap ICO Founder With $30K Fine

Additionally, David Laurance, founder of Tomahawk Exploration LLC got 2 lifetime bans
15 August 2018   119

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.