Lawsuit targets ICO, promoted by Mayweather and DJ Khaled

Centra ICO, the startup, created to launch cryptocurrency deposit cards, is accused in offering and selling unregistered securities
18 December 2017   2504

Against the ICO project Centra a collective lawsuit of depositors was filed. The ICO is known to by promoted by famous boxer Floyd Mayweather and producer DJ Khaled. The project is accused of violating the US Securities Act, CoinDesk reports.

Defendants of the suit, which was filed on December 13, are Centra Tech, as well as Sohrab Sharma, Raymond Trapani, Robert Farkas and William Hagner. During the tokensale, they managed to raise $ 30 million to issue a crypto-currency debit card.

As the newspaper notes, the claim was filed a month after the project was abandoned by its two founders. In a post published on the Centra Tech blog on October 31, it says that Sohrab Sharma and Raymond Trapani left the project after the end of the tokensale.

...in connection with Centra Initial Coin Offering (the "Centra ICO"), Defendants raised over $30 million in digital cryptocurrencies by offering and selling unregistered securities in direct violation of the Securities Act.
 

Levi & Korsinsky Lawsuit

In addition, the organizers of Centra ICO are charged with misleading investors about the company's relationship with the payment services Visa and Mastercard, as well as in posting false information about its members on its website.

ICO Centra was actively promoted by boxer Floyd Mayweather and music producer DJ Khaled, but later they removed their messages on social networks. In this case, neither Mayweather nor DJ Khaled in the suit appear.

DJ Khaled Centra Promotion
DJ Khaled Centra Promotion
Floyd Mayweather
Floyd Mayweather Centra Promotion
 

In its last statement, Centra company denies all accusations in its address.

This lawsuit, which for the most part, appears to repeat unfounded claims regarding Centra Tech, alleges that Centra Tech’s initial coin offering of Centra Tokens was an unregistered sale of securities. The plaintiff’s complaint attempts to mimic claims and allegations the Securities and Exchange Commission has lodged against other cryptocurrency offerors. Centra Tech disputes the allegations in the complaint.
 

Centra ICO Statement

According to Coindesk team, a representative for Mayweather did not immediately respond to a request for comment.

Brave Browser Start Paying BAT For Ads Viewing

Brave browser ICO was launched in 2017 by the creator of the JavaScript programming language and ex-Mozilla CEO Brendan Eich; it raised $35M in 30 seconds
25 April 2019   68

Users of the new Brave browser desktop version will finally be able to participate in the Brave Ads program.

Brave is developed by the creator of the JavaScript programming language and ex-Mozilla CEO Brendan Eich and is positioned as something more than a “ad-blocking browser”. The implementation of this idea is based on Brave Ads.

Users who decide to take part in the program will be able to receive up to 70% of the profits generated by the advertisements shown to them, TechCrunch reports with reference to the company's statement. Awards will be paid in the form of own tokens of the Basic Attention Tokens project (BAT), which users, in turn, will be able to share with the creators of the content they like on the network.

By default, donations to BAT will be transferred to owners of sites that a user visits most often, however, developers plan to realize the possibility of exchanging tokens for awards, such as vouchers for restaurant visits or hotel accommodations. Also, earned advertising tokens can be exchanged for other cryptocurrencies and Fiat through exchanges. If desired, users can continue to use Brave without receiving a BAT.

A lot of users don’t want to cash out [when they receive BAT]. It’s not a huge amount of value for most people, so they may prefer to just use it to give back. And that’s the real idea: A browser with the user steering it is replacing the ad tech complex.
 

Brendan Eich

Founder, Brave

BAT can only be used to reward publishers. Soon with their help, users will be able to buy additional content and, possibly, some products. The ability to withdraw tokens will be realized after the introduction of the user identification system.