Trump's Ex-Advisor to Discuss the ICO

Steve Bannon, former adviser to US President Donald Trump, held meetings with hedge funds and private investors
15 June 2018   661

Steve Bannon discussed with hedge funds and private investors the possibility of holding an initial coin offering (ICO) for his company Bannon & Company. This is reported by The New York Times.

Bannon declined to disclose the details of the results of the talks out of fear that his ambiguous reputation could harm future plans. However, the ex-adviser admitted that he kept some of his savings in bitcoin. Moreover, he believes that crypto-currencies challenge the authorities and individuals engaged in "destructive populism".

It takes control back from central authorities. It’s revolutionary.

Steve Bannon

Former Trump Advisor

Bannon has shown interest in digital currencies since at least 2016. However, it has became known for the general public about this only in 2017, after Bannon left the White House.

This year, he said that blockchain technology gives people "true freedom". Speaking of prominent figures in the crypto world Steve Bannon said that 'these guys are visionaries'. 

Earlier the ex-adviser said that he helps other people to create their own cryptocurrencies. In addition, Bannon even considered the possibility of creating his own digital currency called "deplorables coin". It was "deplorables" that Hillary Clinton called the supporters of Donald Trump.

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Pure Bit to Refund Investors' Money

Another cryptocurrency scam storu may have happy ending
15 November 2018   70

The founders of the South Korean exchange Pure Bit, who were suspected of stealing investors' money, announced the return of funds.

According to the local edition of BlockchainROK, representatives of the exchange have already partially returned the money to some users and pledged to return all other funds.

On November 4, the exchange team launched the ICO with the goal of collecting about $ 30 million to create a crypto exchange. However, on November 9, Pure Bit closed the site, said goodbye to its investors and removed everyone from the group in the KakaoTalk messenger. Also, the founders of the exchange withdrew funds from the account that was used for ICO.

According to CCN, one of the issues traced the Ethereum address of the exchange and asked Upbit to block the account and freeze the funds. Upbit fulfilled this request.

This is Pure Bit. First off, I would like to apologize to everyone that was affected by the ICO. Since November 5, I raked in 16,000 ETH and did not open a crypto exchange as promised. I kicked out everyone in our social media chat groups and disappeared without any message. I negatively affected investors in the project psychologically and financially. I made an unforgivable mistake that cannot be turned around, blinded by money. It has been less than a day and I have already started to suffer from guilt. Although it cannot be compared with the hardship faced by the investors, I also felt significant guilt. I sincerely apologize to all of the investors in the ICO who were affected by the operation.

CEO of Pure Bit

The founder of Pure Bit also notified that he would return ETH 16,000 to depositors without taking into account the payment of services to a third-party company that organized ICO.