It seems like the ICO bubble might be in for a bit of a pop, we will keep an eye on these developments as it might impact the ETH/BTC price severely.
When you go onto protostarr.io ( a recent ICO ) website you will be greeted with this message:
Protostarr Shutting Down
On August 24, 2017, we were contacted by the United States Security and Exchange Commission regarding the initial coin offering of Protostarr tokens to fund the development of our Ethereum decentralized application. After consultation with multiple lawyers, we have decided to cease further operations and refund Ethereum collected in our crowdsale that began on August 13, 2017.
Like many of our supporters, we were excited to be an innovative force in the emerging space of content creation and its funding. Unfortunately, as a startup, we do not have the necessary resources to both develop our DApp and challenge the SEC’s investigation regarding our ICO and its interpretation under US securities law.
Individuals who paid Ethereum to the crowdsale payment address will receive a refund to the originating wallet address. These originating wallet addresses are verifiable on the Ethereum blockchain that’s attached to the ICO contract at here: etherscan.io/address/0xEa16ebd8Cdf5A51fa0a80bFA5665146b2AB82210#internaltx
Refunds will begin on September 02, 2017 for all incoming transactions made to the crowdsale wallet before the refund date.
For immediate inquiries related to the refund of payments, contact info @ protostarr.io.
With China’s recent decisions about ICO’s and now this from the States. Millions have been made with recent ICO offerings and no doubt a lot of investors will think twice when the States can just seize their investments.
Lets see what the price action does as more and more ICO’s get shut down.
This reply was modified 1 year, 5 months ago by admin.