Earlier today I wrote the following post about Bitconnect:
But at that time Bitconnect was ONLY down 40% but that was before most people knew about it. It has now spread and now the price is down 82% at $44.
Coindesk has now written an article about this and here are some quotes:
“We have received two Cease and Desist letters, one from the Texas State Securities Board, and one from the North Carolina Secretary of State Securities Division,” the BitConnect team wrote. “These actions have become a hindrance for the legal continuation of the platform.”
The post also blamed “bad press” that has “made community members uneasy and created a lack of confidence in the platform.”
Coindesk also states that Ethereums founder Vitalik Buterin have levied criticisms against it in recent months.
So, lets hope that we can forget about this scam and move on with some real cryptos with good use cases.
Source:
https://www.coindesk.com/bitconnect-shutters-crypto-exchange-site-regulator-warnings/