EOS Maker Block.One Settles With SEC Over Unregistered Securities Sale
EOS maker Block.One must pay $24 million in penalties for conducting an unregistered securities sale, the U.S. Securities and Exchange Commission (SEC) announced Monday evening.
The SEC said in a press release that Block.One “raised the equivalent of several billion dollars” over a one-year period in an unregistered initial coin offering (ICO). (A total of $4.1 billion was raised.) Block.One agreed to settle the charges, according to the SEC.
The fine amounts to 0.0058 percent of the initial raise.
Notably, the press release highlighted that Block.One’s token sale began shortly before the SEC released its DAO Report but “continued for nearly a year after the report’s publication.” The company did not secure an exemption from securities registration requirements and did not otherwise register the sale, the SEC said.
In its own press release, Block.One said the settlement only applies to the sale of the original ERC-20 token it sold. EOS holders swapped their ethereum-based tokens with the proper EOS tokens when the network first went live.
Ethereum’s Istanbul Upgrade Arrives Early, Causes Testnet Split
Ethereum test network Ropsten has forked into two separate chains following the activation of system-wide upgrade Istanbul.
“It appears there are two different chains mining the Ropsten test network. There are miners mining on the old [Ropsten] chain and miners mining the new one,” explained Ethereum Foundation community manager Hudson Jameson
Ether Outshines Bitcoin in a Gloomy Month for Crypto Prices
September has been a rough month for bitcoin and the wider cryptocurrency market, but ether has weathered the storm better than most.
Bitcoin, (BTC), the leading cryptocurrency by market value, is on track to post a monthly loss of more than 16 percent – the biggest since November 2018, according to CoinMarketCap. As of writing, BTC is trading around $8,070, having hit a 3.5-month low of $7,838 earlier today.
Meanwhile, the total market capitalization of all cryptocurrencies has currently shed nearly 13.7 percent on a month-to-date basis, standing at $215 billion at press time.
Ethereum’s native cryptocurrency ether (ETH), however, is currently reporting a monthly gain of 0.30 percent. As of writing, the world’s second largest cryptocurrency is changing hands at $174.
In fact, ETH is the best performing top 10 cryptocurrency of September, as seen in the chart below (note, the tether stablecoin has been excluded).