Fourth Class-Action Suit Filed Against Tezos

Lawsuit against one of the most successful ICO states that tokensale's organizers violated U.S. securities laws
18 December 2017   1974

Another, fourth lawsuit was filed against one of the most successful ICOs of this year, Tezos. This is reported by the CoinDesk.

Plaintiff Bruce MacDonald in lawsuit from 13 Dec calls for or a temporary restraining order on the assets raised during the token sale. Defendants are: 

  • Tezos founders Arthur and Kathleen Breitman 
  • Dynamic Ledger Solutions, Inc.
  • the Tezos Foundation
  • Johann Gevers 
  • Diego Ponz and Guido Schmitz-Krummacher (who resigned last week) 
  • Cryptocurrency brokerage Bitcoin Suisse AG and its co-founder, Niklas Nikolajsen 

The lawsuit states that the Tezos tokensale's organizers violated U.S. securities laws, very similar to three collective lawsuits from the past. 

In sum, Defendants capitalized on the recent enthusiasm for blockchain technology and cryptocurrencies to raise funds through the ICO, illegally sold unqualified and unregistered securities, used a Swiss-based entity in an unsuccessful attempt to evade U.S. securities laws, and are now admittedly engaged in the conversion, selling, and possible dissipation of the proceeds that they collected from the Class through their unregistered offering.

New Lawsuit

The application for the temporary restraining order, submitted on Dec. 14, argues that the Tezos ICO holdings are worth around $1 billion. It seeks to prevent the sale or transfer of the digital assets raised during the sale, alleging that "as cash, it can disappear quickly into the void."

GRAM May be Traded at Liquid at Triple ICO Price

Bloomberg says that Telegram tokens, that may appear at Liquid will be sold by Gram Asia at $4 per token, but there's no official info from Telegram
04 July 2019   1025

Even before the official public release of the cryptocurrency of the messenger, Telegram can increase in price by 200% relative to its value during the initial offer of coins. It is reported by Bloomberg.

As previously reported, Telegram tokens may appear on the Liquid Bitcoin Exchange already on July 10. The distributor is Gram Asia, which calls itself the largest holder of GRAM tokens in Asia. It intends to put up for sale rights to cryptocurrency at $ 4 per unit.

At the same time, one of the investors said to the publication that at the time of purchase the price of 1 Gram was $ 1.33.

It is worth noting, however, that after the announcement of the public sale of Telegram tokens to Liquid, the media reported that this intention had nothing to do with the official plans of Telegram.

Then one of Telegram's investors stated that no one has the right to sell tokens before their official launch in accordance with the signed agreement. Moreover, representatives of the popular messenger noted that they first heard about Gram Asia.

Later, CEO Liquid Mike Kayamora admitted that Telegram has no relation to the placement on Liquid: the deal was concluded exclusively between the exchange and Gram Asia, which allegedly is an incubator for the TON project.

The Block's leading analyst Larry Chermak on several tweets expressed skepticism about the announced Telegram tokenale based on the Liquid stock exchange, saying that he would “think twice before making a decision to invest.”