In a powerful one-two punch on Monday, the SEC published a cease and desist order shutting down an ICO for the MUN utility token and a highly critical statement by SEC’s Chairman, Jay Clayton, entitled “Statement on Cryptocurrencies and Initial Coin Offerings”.  Rimon partner Dror Futter analyzes the impact of these communications by the SEC and their impact on…

ICOs are not limited to new companies. Companies that have previously raised venture funding can do them as well — a phenomenon some have termed “Reverse ICOs.”   The standard deal documents of the venture industry (SAFEs, Convertible Notes, Series Seed and NVCA Series A) never contemplated Reverse ICOs.  Rimon partner, Dror Futter, has written about the…

Two recent events suggest that the “Wild West Period” for ICOs may be drawing to a close. Recent statements by SEC Chairman, Jay Clayton, strongly suggest more SEC action to come and the first class-action suit related to an ICO has been filed. Click here to read Dror Futter’s analysis. Mr. Futter has more than 20 years…

Initial Coin Offerings (ICOs) are financing mechanisms that have become very popular and controversial. In 2017 alone, ICOs have raised over $1.5 Billion. ICOs are offerings of digital tokens that rely on blockchain technology (similar to Bitcoin). The large majority of ICO investors are private individuals. In the fintech space, ICO funding has surpassed venture…

The SEC has issued its first, much anticipated statement on the regulatory status of ICOs (Initial Coin Offerings). Click here to read our analysis of the questions the SEC answered and, perhaps more importantly, the questions that remain unresolved. Mr. Futter has more than 20 years of high tech and business experience. He represents emerging companies and their…