John McAfee’s decision to stop shilling ICOs as a regulatory day of reckoning draws near is the top item in today’s edition of Bitcoin in Brief. Additional stories include Bittorrent trying to reassure users it wont cryptojack them to mine tron, Binance’s latest venture in Malta, a tether replacement getting VC backing, and Paris Hilton’s dad getting into crypto.
Also Read: Cryptocurrency Hedge Funds Were Down 12% to 19% in May 2018
Day of Reckoning for ICOs
Antivirus pioneer and token pump master, John McAfee, has announced he is no longer working with ICOs nor is he going to keep recommending them. The reasons he gave for the move are “SEC threats” and that “those doing ICOs can all look forward to arrest. It is unjust but it is reality.”
An explanation for what McAfee might be fearing came from Chris Concannon, the president of Bitcoin Futures supporting Cboe Global Markets. “The reckoning will come in two waves,” he said in an interview with Business Insider. According to him, ICO investors should lay awake at night worrying as the SEC will soon go after market participants. Following that he expects a torrent of class-action lawsuits against the teams behind projects. “If you sold someone an unregistered security you are liable to them if they decide to take them to court,” Concannon said.
Despite all of this don’t count McAfee out of the market just yet. He also claimed to be working “on an equivalent alternative to ICOs which the SEC cannot touch.”
Bittorent Tells Users Not to Worry About Tron Takeover
Bittorrent Inc, the company managing the development of the peer-to-peer file sharing protocol, is trying to reassure users they have nothing to fear following its
