Pantera Capital says that 25% of the ICO projects it has funded will be forced to return investors' money
Things continue to get worse for US companies that organized ICO without registering with the SEC. One of the largest speculative funds in the crypt, Pantera Capital, estimated that about 25% of ICO's portfolio projects might have to repay the money.
While California's Pantera Capital believes that most of its investments will not be affected by the SEC's decision, at least a quarter of them have an undetermined fate at the moment. These projects may violate the securities laws and the registration process at the SEC is far too difficult to achieve.
In November, the SEC stated that two companies, Paragon Coin and AirFox, received millions of dollars by issuing tokens that were not in compliance with US securities laws. The regulator warned that any start-up in this position should take action to comply with the law.
To avoid sanctions, many projects will have to return investors' money.
Bitcoin Cash continues to decline, Bitcoin reaches $ 3250
Crypto market has been under significant pressure in recent weeks, and one of the most affected crypto was Bitcoin Cash.
After Bitcoin Cash's hard fork, the situation has become more and more dark. Crypto prices have failed to recover, which has made many worry that we have not yet managed to reach the bottom of the market. For Bitcoin Cash, the latest price news reflects this much.
The Bitcoin Cash price has declined steadily in recent weeks and has reached $ 82, but there are indications that it could drop further.
Recently, Ethereum, Bitcoin, Ripple, Litecoin and EOS have also experienced a strong increase in sales pressure. Bitcoin has reached $ 3250 this weekend and seems to be recovering slightly. Ethereum stands at $ 85.
Coinbase reintroduces withdrawals via PayPal
The largest American exchange announced that it has reintroduced the withdrawal of funds through Paypal. The system allows customers to transfer money from the platform to their PayPal account at no commission. However, it is not yet allowed to purchase crypto by this method.
The Exchange had previously been integrated with PayPal, but the company ceased to provide the service due to technical problems earlier this year.
The Venezuelan government is replacing the Bolivarian pensioners with Petro
According to the Caracas Chronicles, elderly people have recently received monthly pensions in the official currency of Venezuela, the sovereign Bolivar. On the same day, however, pensioners were notified that the currency had been replaced by crypto Petro.
Practically, the government pulled out the Bolivarians without their consent and replaced them with a crypto that can not yet be used. Banks do not yet use Petro, which means that pessimists can not use them directly. There is a complex process of transforming Petro units back into Bolivar, which most elderly people do not know to use.