After warning folks in the industry for three long years that something like this could and would happen to an ICO somewhere, it finally happened:
Points to note:
1. As expected, in the wake of the SEC’s DAO report, the United States continue to broadcast that they are the least friendly jurisdictions on Earth in which to do an ICO, especially an investment-based ICO. Wyoming-based Protostarr appeared to be doing what I would term a “investment token” of sorts rather than a “utility token” a la Filecoin, following the distinction I made last week when I discussed about token liquidity.
Protostarr has wiped their site but the following is available from the Google cache:
2. Obviously we’re relying on the word of Protostarr here to say that the regulator has reached out and touched them, rather than the word of the SEC, which has said nothing.
3. If anyone is making medals for those of us who have been right about this for three years but have spent most of this time being disbelieved by the “this time it’s different/new paradigm” crowd, I’ll have mine in titanium, with a groundhog obverse and a profile of Richard Nixon reverse, with the inscription “Dum spiro, marmot.”
