The Daily: New Woe for ICOs, Bitcoin Cash Trading Resumes

The Daily: New Woe for ICOs, Bitcoin Cash Trading Resumes

In Saturday’s edition of The Daily, we inspect Q3’s total for initial silver offerings, and contemplate where they go from here in the arise of uninformed SEC scrutiny. We also take a look at how exchanges are reacting to the Bitcoin Cash fork. Some platforms have already enabled deposits and withdrawals, while others are watchful compartment the dirt has settled.

Also read: SEC Settles Charges With Two ICO Issuers

Exchanges Respond to the Bitcoin Cash Fork

In the rave to the Bitcoin Cash (BCH) hard flare on Nov. 15, cryptocurrency exchanges summarized their skeleton for traffic with the event. Bitfinex and Poloniex available trade of the ABC and SV coins in allege of the split. Others, such as Bittrex, available BCH trade via the event, but most paused trade for a few hours, before reopening with two BCH markets active, to paint each side of the divide. All cryptocurrency exchanges, however, paused BCH deposits and withdrawals while the flare took place.

The Daily: New Woe for ICOs, Bitcoin Cash Trading Resumes
At the time of publication, ABC is 16 blocks and 53.3% forward by PoW, compared to SV.

Bittrex is one of the first vital exchanges to have resumed BCH deposits and withdrawals, carrying reserved the BCH ticker to the ABC implementation. “Confirmations have been temporarily increasing to 20 for deposits,” tweeted the exchange. “Bitcoin SV (BSV) balances are in accounts.” Most exchanges have been more circumspect, however. Binance has nonetheless to re-enable bitcoin money deposits and withdrawals, and is austere that the BCHABC and BCHSV tickers are staying for good. So far, 50% of all exchanges have deemed the ABC doing to be BCH, including Cobinhood, Bibox, and Bitmax.

ICOs Raised $1.8 Billion in Q3

ICOrating.com has published the quarterly news into the health of the token market. It records that $1.8 billion was lifted by initial silver offerings (ICOs) in Q3 of 2018, which pales in comparison to the $8.3 billion lifted in the prior quarter. 57 percent of all ICOs in Q4 unsuccessful to strech $100,000 and just 4 percent of projects cumulative an sell listing. Other notable statistics to emerge from ICOrating’s report embody the fact that in Q3:

  • The median lapse from tokens was 22 percent
  • 67 percent of all dapp ICOs failed
  • 43 percent of all projects were formed in Europe
  • The number of projects with application tokens decreased by 10 percent

This latter statistic can be approaching to decrease serve in the months to come, as coercion by the U.S. Securities and Exchange Commission (SEC) dampens unrestrained for application token ICOs.

The Daily: New Woe for ICOs, Bitcoin Cash Trading Resumes

SEC Clamps Down Hard on ICOs

The cryptocurrency village has been reacting to yesterday’s news that the SEC has released the first penalties to ICOs for bonds violations. These landmark cases endorse that ICOs can't simply explain their silver is a application token in the wish this will free them from bonds law. “The SEC is operative their way up the ICO totem pole, starting with the most apparent and easiest targets until they have the amassed weight of caselaw to tackle the big ones,” opined Nic Carter. This view was echoed by other figures, including authorised experts Preston Byrne and Stephen Palley.

The SEC has educated the ICOs it penalized to recompense investors in fiat banking for their losses. This includes any claimants who sole their tokens at a loss. As a result, there has been conjecture that the SEC’s statute might outcome in offered vigour from ICOs forced to repay their cryptocurrency holdings.

What are your thoughts on today’s news tidbits as featured in The Daily? Let us know in the comments territory below.


Images pleasantness of Shutterstock and ICOrating.com.


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Article source: https://news.bitcoin.com/the-daily-new-woe-for-icos-bitcoin-cash-trading-resumes/

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