Shipchain Initial Coin Offering (ICO)
Interest in Shipchain’s ICO cryptocurrency exploded in the past year. Starting around December of 2017, almost every day another new promoter of the “Shipcoin” launched yet another article claiming that the Shipchain ICO was a revolutionary platform.
In fact, this Forbes article, which was later taken down by the Forbes staff, claimed that Shipchain was a “handful of blockchain platforms poised to do things even the Internet couldn’t accomplish.”
Additionally major influencers like Shark Tank star Kevin Harrington helped promote Shipchain’s ICO to investors. What was Kevin Harrington’s compensation for promoting Shipchain’s ICO? Was that compensation disclosed to the Shipchain ICO investors?
In the past year other influencers such as Floyd Mayweather and DJ Khaled also promoted ICOs, only to get charged by the SEC:
The Securities and Exchange Commission said they are the first cases to charge touting violations regarding ICOs, a relatively new phenomenon that has attracted billions of investor dollars to new cryptocurrencies, often with little to back them up.