Bitcoin Global News (BGN)
August 17, 2018 -- ADVFN Crypto NewsWire -- A resident of Las
Vegas has filed a case that is being brought to court in Washington
State on Aug. 13 by John Hastings against Unikrn. They allege that
Unikrn and its founder Rahul Sood sold unregistered securities to
the public through their ICO. The token sale ran between September
and October of last year, raising $31 million (at that time) for
sale of UnikoinGold Tokens (UKG).
They cite that Unikrn “crafted a
flimsy facade that UKG Tokens are not securities by claiming they
are 'utility tokens.” The lawsuit is likely being filed in relation
to the drastic decrease in price the coin has seen since it’s
all-time-high of around $2 earlier this year, to now under
$0.10.
Unikrn
Founded on the growing internet
sports betting industry, Unikrn hoped to take advantage of the
benefits of cryptocurrency and blockchain to facilitate a superior
platform. The platform is up and running, and the organization is
headquartered in Las Vegas, Nevada with offices in Seattle USA,
Sydney Australia and Berlin, Germany.
Using cryptocurrency allows users
from around the world to more easily participate in the platform,
because the only currency used is the UKG token, rather than having
to deal with deposits of many types of fiat currencies.
They received a marketing boost
when Mark Cuban reported that he had Invested in the ICO. However,
a file submitted by Unikrn to the U.S. Securities and Exchange
Commission (SEC) on Oct. 6 states that the firm also raised $16
million outside of the ICO as well. This came from accredited
investors using SAFT (Simple Agreement for Future Tokens)
investment contracts.
Mark Cuban and
Cryptocurrency
“There was a time when collecting
comic books was hot and then the price went through the roof. There
was a time when you collected stamps or coins and I did stamps as a
kid and made a boatload of money doing it. That’s what we’re
talking about here.” - Mark Cuban
Dallas
Mavericks
Earlier this year Mark Cuban
announced plans to accept cryptocurrency for tickets and
merchandise next season, beginning with CyberMiles Tokens, Bitcoin
and Ethereum. They are the second team to do so, after the
Sacramento Kings accepted Bitcoin in 2014.
CyberMiles
Further plans include a jersey
patch for 5miles, a mobile, local marketplace platform for the
goods new or used, and services that accepts CyberMiles Token as
well. The platform built customized smart contract templates for
e-commerce companies to easily gain the benefits of blockchain and
cryptocurrencies/
By: BGN Editorial Staff
News:
Unikrn
Mark Cuban
UnikoinGold Tokens
(UKG)
Cryptocurrency
ICO