In the last few days, a lot of reports are coming out about charges against ICO’s. Today, this news came out:
U.S. securities law can be used to prosecute fraud cases over cryptocurrency offerings, a New York federal judge ruled on Tuesday in what appeared to be the first court decision to address the issue. The ruling from U.S. District Judge Raymond Dearie in Brooklyn allows federal prosecutors to pursue their case against Maksim Zaslavskiy. The Brooklyn resident was arrested in November on charges that he defrauded investors in two cryptocurrencies, violating the federal Securities Exchange Act.
It seems ARK and Dragonchain have partnered up and it’s not only to race together, but also in the race for mass blockchain adoption. So what’s the reason for this collaboration? And more important what is there to expect from this so called Interchain? To answer these questions we should first take a brief look at the individual projects and their use-cases. For the record we have not reached out to either of the projects, these are just our two cents about the reasons for their collaboration.
Just recently, Bitmain the Chinese mining giant closed a pre-IPO financing round which reached $1 billion on July 23 at a $15 billion valuation. While Bitmain is popular for producing ASICS, the company has begun producing hardware for the artificial intelligence industry and aims to use funds realized from the IPO to expand the company.
At first everything looked fine, it was reported that notable key investors Tencent Holdings, Ltd., Softbank Group, Temasek, China National Gold Group, Sequoia Capital China amongst others had invested in Bitmain’s pre-IPO.