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SEC Gives YouNow’s Ethereum Token ‘Props’ Reg A+ Approval

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The U.S. Securities and Exchange Commission (SEC) has granted an ethereum-based token a Reg A+ qualification, the startup YouNow said Thursday.

Props is an ethereum-based blockchain token that integrates with streaming platforms like YouNow and XSplit to reward users and creators with tokens.

YouNow – which developed the Props blockchain – announced today that it will begin rewarding content creators with Props for in-app activities that “drive community engagement.” Users will also begin to receive tokens for engaging with the platform. YouNow will begin by distributing a total of 187 million tokens to users and creators, according to an SEC filing.

The video-streaming firm will incentive users to earn Props by offering VIP status and boosting their purchasing power of an in-app currency called Bars. Exclusive items and discounts will also be on offer to Props holders.

Reg A+ is a way to reward early investors, as well as galvanize users around a product by giving them a vested interest. At launch each token was valued at $0.1369, according to the filing. However, as the platform grows, demand for the tokens may rise, and token holders may earn a profit. This incentives Props holders to develop the network.

Additionally, tokens are transferable between different applications and wallets, though they cannot be exchanged for fiat currencies. At this point, there are four applications that have integrated with the token network.

TechCrunch reported that Props worked with the SEC for two years before receiving approval to ensure they weren’t misleading investors or inappropriately raising capital.

In fact, the company pre-sold $22 million worth of tokens to investors like Union Square Ventures, Comcast, and Venrock, among others. At the time, the company wrote, “Pending other uses, we intend to invest the proceeds in interest-bearing, investment-grade instruments, certificates of deposit, direct or guaranteed obligations of the U.S. government, cryptoassets or hold as cash,” in its SEC Edgar filing.

The SEC also recently granted the first Reg A+ qualification to a token sale for Blockstack‘s $28 million offering on CoinList. That token sale officially launched on Thursday despite some initial technical problems.

Source:coindesk

Ether

Ether Price Will Hit $1,000 Again, Survey Says as Altcoin Faith Remains

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Ether (ETH) is most likely to trade above $1,000 again in the future, according to the global cryptocurrency Twitter community. 

54% say $1k Ether price possible

According to the results of a survey administered by An Altcoin Trader’s Handbook author Nik Patel on Aug. 10, 54% of respondents think ETH/BTC will see $1,000 once more. 

Ether is the largest altcoin by market cap, but has seen its share of the crypto pie relative to Bitcoin (BTC) decrease dramatically since its all-time highs in January 2018. 

Having previously reached more than $1,400 per token, Ether currently trades at just $213. 

As Cointelegraph reported, multiple analysts have sounded the alarm over altcoin markets in general in recent weeks, as Bitcoin continues to dominate rankings and investor returns. 

Some believe altcoins will never again rally to the extent they did in previous years, meaning tokens such as Ether should notionally remain at the lower end of their historical trading corridor.

Don’t jinx it

According to Patel’s survey, however, most lay traders do not share that view. Out of more than 5,000 respondents, only 34% were willing to predict that ETH/BTC would never reach four digits. 

The optimism may still be misplaced; one year ago, Fundstrat senior analyst Tom Lee made the ill-fated call that ETH/USD would rally to $1,900 by the end of 2018.

Developers are continuing to press on with major protocol changes as part of the Ethereum 2.0 project, with co-founder and well-known speaker Vitalik Buterin pledging to take a more hands-off approach in recent months. 

Earlier this month, however, he implied he had no interest in seeing Ether usurp Bitcoin’s dominance, saying that he would support the coexistence of Bitcoin and Ethereum on a technological level.

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China: Police Investigating EtherDelta Over Alleged Exit Scam, Report

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Chinese police are reportedly taking legal action against non-custodial token trading platform EtherDelta in connection with an apparent exit scam. 

The news was reported on Aug. 7 in a series of tweets published by Dovey Wan, founding partner at blockchain-focused investment firm Primitive Ventures.

New Chinese owners allegedly used EtherDelta for exit scam ICO

Wan’s tweets indicate that the alleged exit scam involved the sale of native exchange asset EtherDelta Token (EDT) following the acquisition of the exchange by unnamed Chinese investors:

“The actual beneficiaries of EtherDelta are all Chinese after ownership transition in 2017 […] Basically [the founder] Zack Coburn sold EtherDelta to a group of Chinese who later issued exchange token $EDT and turned out to be a exit scam. Now furious investors of $EDT whistle blowed to local police the case was recently taking into official investigation process” 

Wan added a further tweet, noting that “FYI Chinese police shows no mercy if any crypto scam involved large amount of retail capital.” 

Run-in with the U.S. SEC

EtherDelta, a non-custodial marketplace for trading ERC20 tokens, enables users to trade digital assets by means of an order book and Ethereum blockchain-powered smart contracts.

The exchange had faced legal difficulties in fall 2018 when the United States Securities and Exchange Commission (SEC) charged founder Zachary Coburn with operating an unregistered securities exchange.

Coburn neither admitted nor denied the findings, but he consented to cooperate and to pay the state $300,000 in unlawful profits. Moreover, he agreed to pay $13,000 in prejudgment interest and a $75,000 penalty.

This May, crypto analytics startup Coinfirm found that over 500 of the ether (ETH) stolen from hacked New Zealand-based cryptocurrency exchange Cryptopia — worth over $125,000 —  had been moved to EtherDelta.

Source:cointelegraph

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Ether Amine Market: Business Opportunities, Market Share, Current Trends, Size, Market Challenges & Analysis by 2025.

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Report gives deep analysis of “Ether Amine Market” industry overview by Types, applications, Key players and regions. This report furthermore shows the 2019-2024 Production, Consumption, income, Price & Cost Overview. From raw materials to downstream consumers of this industry will be examined scientifically. the feature of product flow and sales channel will be presented as well. In a word, this report will help you to establish a landscape of industrial development and characteristics of the Ether Amine market

the Global Ether Amine Market is estimated to reach xxx million USD in 2019 and projected to grow at the CAGR of xx% during the 2020-2025. The report analyses the global Ether Amine market, the market size and growth, as well as the major market participants.The analysis includes market size, upstream situation, market segmentation, market segmentation, price & cost and industry environment. In addition, the report outlines the factors driving industry growth and the description of market channels.The report begins from overview of industrial chain structure, and describes the upstream. Besides, the report analyses market size and forecast in different geographies, type and end-use segment, in addition, the report introduces market competition overview among the major companies and companies profiles, besides, market price and channel features are covered in the report.

by http://tornnews.com

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