Mayweather-Promoted ICO to be Halt by SEC

Centra Tech is accused in "organizing a fraudulent ICO"
03 April 2018   223

The Securities and Exchange Commission (SEC) suspended the ICO of the cryptocurrency project called Centra Tech, which was once advertised by the multiple world boxing champion Floyd Mayweather. The office accuses the startup of "organizing a fraudulent ICO", the report said.

Co-founders of Centra Tech Sohrab Sharm and Robert Farkas also accuse the SEC of appropriating $ 32 million "obtained through the sale of unregistered securities."

According to the SEC, the start-up promised to send funds received during the ICO to "develop financial products supported by Visa and Mastercard", but in reality Centra Tech did not have any working relationship with these companies. In addition, according to the Commission, Sharma and Farkas were engaged in the creation and dissemination of "false advertising materials, including information about fictitious officials."

As we allege, the defendants relied heavily on celebrity endorsements and social media to market their scheme. Endorsements and glossy marketing materials are no substitute for the SEC's registration and disclosure requirements as well as diligence by investors.
 

Steve Peikin

Co-director, SEC Division of Enforcement

The SEC documents also state that the founders of Centra Tech paid various celebrities for the promotion of the ICO, including Floyd Mayweather, who supported the project in September 2017. However, the corresponding post in Instagram has already been deleted.

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TOP-3 Upcoming ICO 22 - 28 Apr According to Our Readers

Let’s check which ICOs from 22nd to 28th April are considered the best according to our readers
23 April 2018   167

Our readers are dedicated cryptocurrency enthusiasts and fans of blockchain technology. We provide them with the ability to express their opinion regularly. Let’s check top three ongoing ICO according to our readers

1. MOMENTUM

Momentum is the world’s first blockchain and crypto-token based marketing automation platform that enables companies to reward their best customers and supporters with crypto-tokens. With Momentum, companies can reward customers in exchange for their attention, business, brand advocacy and data insights, while giving the consumer full control over their personal data. MobileBridge Momentum Token is the token that powers the MobileBridge Momentum platform. Demand for the Momentum will be fuelled by the ever increasing demand for the token as transactions on the MobileBridge Platform continue to increase.

At the moment of press, Momentum is running the private sale, no info on the raised funds available.

2. B2AND

B2AND is a result-oriented cloud-based online platform providing easy-to-use and scalable service utilising viral marketing within marketing campaigns in new innovative and extremely effective way. The new B2AND decentralized eco-system will be based on successful B2AND platform and will rely on a decentralized architecture on Ethereum blockchain supported by B2AND token. The B2AND decentralized eco-system will be transformed through four generations, whereas 1st generation B2AND platform has already been deployed.

B2AND
B2AND

B2AND tokensale started today (23/04/2018). We wish good luck for the team!

3. TV-TWO

TV-TWO is an application for Smart TVs used as the new gateway to linear broadcast combined with a personalized video stream as an additional channel. It is based on blockchain, the technology to orchestrate the new television ecosystem, with direct interactions between users, advertisers and content producers. A custom Ethereum-based token called TTV, the Token for Television, will fuel the ecosystem while ensuring security and fairness.

TV-TWO tokensale hadn't begin yet, but team doesn't lose any time. They have active social network and live shows life. 

We will keep our eye on these campaigns and we hope that their projects will be successful. We are really grateful to our readers for your opinion expression. Please, check the new Top Upcoming ICO and take part in new poll!