On the 2nd February the Texas State Securities Board (TSSB) issued a cease and desist order on DavorCoin for allegedly:
issuing unregistered securities with fraudulent and misleading information to lure investors.
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Today on 7.2.2018; DavorCoin ended its well known lending platform and went the way of BitConnect causing the price of DavorCoin to crash even further and at the time of writing DavorCoin is valued at $0.477236.
DavorCoin went from a high of $180.00 to a low of around $0.38 in the space of 20 days and the only explanation the DavorCoin community was given is as follows:
There is no doubt for us that the DAV value has been negatively affected by our lending program because the crypto-environment has dramatically changed recently. We did everything possible to protect our platform and our amazing community. However, DAV price still went from $180 to $0.5 in 20 days.
As a result, we have decided to change our strategy and to end our lending program that has become the only reason why DavorCoin is decreasing in value.
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I have been suspicious of DavorCoin from the jump because of their lack of transparency and the lack of information on the coin itself.
This seems like the final nail in the coffin for lending programs and possibly for the Trevon James' and Craig Grant types out there as they were both quick to jump on the DavorCoin bandwagon and built up quite a long list of referrals.
DavorCoin issued the following statement today you can see it HERE.
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