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   1466

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.

Old Korean Social Network to Close After Tokensale

Cyworld platform started operating back in 1999 and it conducted an IEO at CoinZest this year
14 October 2019   49

Investors who acquired the clink cryptocurrency issued by the South Korean social network Cyworld are worried about the status of their investments due to the company's sudden closure, reports Korea Times. Some of them are ready to go to court.

The Cyworld platform was launched in 1999 and was especially popular among the country's population until the mid-2000s. The company, however, failed to see the trend towards the development of mobile solutions on time and as a result lost its position in the market. On October 1, it closed her platform without posting any warnings to users.

At the same time, the Clink site was unavailable, and Cyworld management continues to ignore the numerous requests of investors. The Korean exchanges CoinZest and BitSonic, where Clink is still being traded, are considering delisting the asset. Industry officials say Clink's investor losses will be at least 1 billion won ($ 845,000).

Clink's primary distribution was through IEO through the CoinZest platform earlier this year and, according to the Korea Times, it was the company's attempt to bring a fading social network back to life. A total of 24 million Clink tokens were sold for a total of 480 million won ($ 400,000).

In the second half of 2019, employees who have not received salaries since the end of 2018 began to leave the company en masse. Since the start of trading, the Clink price has fallen from 26 won to 0.19 won. According to the Coingecko portal, Clink's current capitalization and revolving volume are unknown, while the marginal issue volume is 10 billion units.