Texas Securities Regulator Issues Cease-and-Desist Order

A state securities regulator in Texas issued another cease-and-desist order against a Hong Kong-based “R2B Coin”
02 February 2018   855

A state securities regulator in Texas issued another cease-and-desist order against a Hong Kong-based “R2B Coin”

The Texas Securities Commissioner issued an Emergency Cease and Desist Order. The order was released on January 24, 2018 by Securities Commissioner Travis J. It explains that Hong Kong-based firm R2B Coin issued unregistered securities providing false information to Texas residents.

The securities regulator stated that the company’s offering, which is being promoted by misleading information, falls under the definition of securities.

As it is indicated on the R2B website the start price of the coin is ranging from $0.008 to $188. The website claims that R2B coins will reach $200 within three months after the start of trading.

According to information on the website, the company claims to be globally licensed. However, the Texas regulator informed that R2B is not registered in its jurisdiction and has violated securities regulations by soliciting investors from Texas through a series of conference calls.

According to the document, the company claimed to have 14,500 investors from 34 countries including U.S., Sweden, Italy, and India. The company also made misleading promises, for example, that investors can change their tokens for stocks at New York or Hong Kong exchanges.

This is the third state’s cease-and-desist against a crypto company. Previously, The Texas Securities Commissioner issued similar orders to Dubai-based USI-Tech and BitConnect.

Ebang to Unveil New BTC Mining Devices

As reported, 10-nm process technology based Ebang E11 miners can reach 44 TH/s performance
25 September 2018   112

The Chinese manufacturer of mining equipment Ebang Communication revealed details about the new line of E11 devices, CCN reports.

At World Digital Mining in Tbilisi, the company introduced three new devices. Based on the 10-nm process technology Ebang E11 miners can reach 44 TH / s. According to the information on the company's website, new miners will go on sale in the near future.

Ebang Mining Devices
Ebang Mining Devices

On the advertising pic there are new devices: E11 (30TH / s), E11 + (37TH / s) and the most powerful E11 ++ (44TH / s)

Main competitor of Ebang - Bitmain - had introduced a high-performance chip BM1391 last week based on 7nm process technology. It is noteworthy that the device E11 ++ from Ebang in its effectiveness exceeds the flagship chip from Bitmain only 2J / TH.

The first information about the new line of miners from Ebang appeared in August.