tZero ICO filing confirm SEC oversight

Successful ongoing fundraising is reported to be watched over by the regulator
01 March 2018   731

Overstock.com alternative trading platform has the second round of its fundraising campaign underway and already reached around $250 mln with the pre-sale round to get as much as $100 mln. But what's notable about the process is that it is confirmed SEC watches over the ICO. So far no clear indications of any fraudulent activity is found by SEC.

The SEC is trying to determine whether there have been any violations of the federal securities laws, the investigation does not mean that the SEC has concluded that anyone has violated the law.  Also, the investigation does not mean that the SEC has a negative opinion of any person, entity, or security.

 

Excerpt from filing

SEC

The very fact of an ongoing scrutiny by SEC clarifies the WSJ report on sweeping probes into the cryptocurrency fundraising area by the US regulator. Interestingly enough that recently tZero has switched SaftLaunch sale management service to StartEngine equity crowdfunding management service. It might first seem such a change was due to the regulatory inconsistency, but actually it happened because of the protracted KYC/AML process on SaftLaunch's side. Alas, it resulted in a bottleneck during the pre-sale and it has to be extended to meet the demand rate.

Because of strong demand, there was an initial backlog in managing inquiries from interested investors but there is no backlog now, and the offering remains open.

 

Spokesperson, SaftLaunch

Apart from that. the president of tZero, Joseph Cammarata had to step up in the midst of allegations that the startup had not in fact raised $100 mln during its pre-sale.

One thing that I'd like to make clear is we're over $100 million and Overstock has not put anything in the ICO at this time. They have not bought any tokens or made any investments at this time.

 

Joseph Cammarata

President, tZero

Ethereum price hits $360

Etherem price tops $360 hitting the two-month high mark
29 August 2017   2054

Ethereum price has risen significantly over the past 24 hours reaching levels not seen for over two months.

Ethereum charts on coinmarketcap.com Ethereum charts on coinmarketcap.com

Thus, Ethereum has reached almost $365 at 10:34 UTC today and has since dropped slightly, according to data provided by coinmarketcap.com. As reported by coindesk.com, this figure is around $46 short of the token's all-time high of $411 set on June 13th.

The data also reveals that the price surge is probably connected with the Asian market interest: Korean Bithumb and Coinone have seen 14.74 and 6.76 percent of trading, respectively. China-based exchange OKCoin is in the number two slot, with 9.47 percent.

Ethereum market chart on oinmarketcap.com Ethereum market chart on oinmarketcap.com

The same patterns have been recently seen for other cryptocurrencies such as Ripple's XRP and Monero.