Home / Blockchain / Led Led of Blockchain start-up criticized for paying sprinklers

Led Led of Blockchain start-up criticized for paying sprinklers

These are "classical techniques of market manipulation," he said.

ICO scams

The Australian Securities and Investments Commission, which this year set up a unit to monitor investments in cryptocurrency, said sprinklers should disclose that they have been rewarded by the company.

ASIC estimates that a quarter of the initial coin offerings could be a scam.

"Just because you call something an ICO [initial coin offering]does not mean you're not regulated, "said ASIC commissioner John Price." We are very focused on dissemination in this sector ".

The virtual currency, or token, of the Power Ledger is traded at about 20% below the issue price. Less than 100 buildings use its trading system.

"Some of our bounty groups were professional bounty hunters who chased tokens because that's what they do," Power Ledger said in a post a few weeks after the sale of the token.

"Some were bots that reported incredible 5,000 likes of our social media in a single 24-hour period."

Continuing to pay

The company continues to pay spruikers who promote its currency, which was worth $ 2.4 billion at the peak of the bitcoin boom.

The president and co-founder Jemma Green, who this year was named EY entrepreneur of the year, said that the company wanted to create popular support for the sale of currency and revealed that it had allocated 1, 5 million tokens for spruikers.

"The awards were offered to community members to share our project with their own networks," said Dr. Green.

"The means they were doing was out of our control and we made it clear that our main supporters who believed in the project and the future of renewable energy were the main audience of this program."

Source link