Tezos: new lawsuit on the way

Hagens Berman, law firm from US, is investigating the case of Tezos
23 November 2017   1753

The law firm Hagens Berman is investigating the case of Tezos. Investors of the project suffered significant damage, and the organizers of the ICO ignored the requirements of the American regulator on mandatory registration of securities, which are Tezzies tokens.

Moreover, when the SEC announced that DAO tokens are securities within the meaning of the federal securities laws, and that DAO’s or other distributed ledger or blockchain-enabled means for capital raising must comply with the U.S. federal securities laws, and that such tokens must be registered with the SEC or qualify for an exemption in July 2017, Defendants were put on notice that they had to comply with the securities laws, including, for instance, registering the Tezos tokens with the SEC as required.  Nonetheless, during July 2017, Defendants conducted the Tezos ICO and sold over 607 million unregistered Tezzies to the public in exchange for digital currency worth approximately $232 million at the time.

Hagens Berman Announcement

According to the lawyers of the company, the organizers of ICO Tezos knew about the need to comply with US securities laws and register tokens in the SEC, but ignored this fact and sold more than 607 million tokens to the investors.

Tezos investors have sustained significant damages by investing in the ICO.  Not only did the Defendants disregard the SEC’s registration requirements but the delay in the launch of Tezos token has forced investors to helplessly watch as their funds are tied up by people skirting the law. 

Reed Kathrein
Hagens Berman partner

Hagens Berman encourages Tezos contributors to contact their lawyers, help with the investigation, or contact the US Securities and Exchange Commission (SEC).

According to the SEC informants program, those who provide interesting information that will help to return the depositors' funds can receive a fee of 30% of the amount of the refund.

As we mentioned in article about another Tezos lawsuit, Arthur and Kathleen Breitman both have active Twitter accounts. But same as before, no lawsuit-related posts or information can be found there. 

Raven Protocol to be the First IDO at Binance DEX

Team cannot say exactly how IEO will pass, since similar campaigns hadn't been concluded at Binance DEX before, but they are going to sell $500k worth tokens
14 June 2019   404

The Raven Protocol cryptocurrency project announced about the planned initial exchange offering (IEO), which will be based on the infrastructure of the Binance DEX exchange - in this case the campaign will be called IDO or Initial Dex Offering.

Raven Protocol confirmed the right to list its token on Binance DEX paired with BNB on June 17 at 9:00 UTC. At the same time, the IDO of RAVEN tokens will start. The project draws attention to the fact that neither Binance, nor Binance Chain, nor Binance DEX stand behind this initiative.

At the same time, Raven Protocol notes that it cannot say how exactly IEO will pass, since with Binance DEX, similar campaigns have not been conducted before.

Potential participants need to pass a preliminary identification by sending to the address of founders@ravenprotocol.com their address in the Binance Chain, an identity document, a selfie and proof of residence.

In total, Raven Protocol expects to raise $ 500,000 by selling 3% of its own token emission (300,000,000 RAVEN). Accommodation will be on a first come, first served basis. The limit on the amount of investment for one user is declared at the level of 100 BNB.