The U.S. Securities and Exchange Commission is temporarily suspending trading of shares in a little-known, self-described crypto exchange and mining firm called Bitcoin Generation.
The regulator announced Monday that it was suspending trading until 11:59 P.M. Eastern Daylight Time on May 10, 2019 due to concerns that some information BTGN has made public may be inaccurate.
Specifically, the SEC is concerned about a bond that BTGN "Purportedly acquired from an entity based in the United Kingdom"; how much BTGN stock is outstanding; promotional activity related to BTGN; and the "Accuracy and adequacy of current public information regarding BTGN's financial condition."
"The Commission cautions broker-dealers, shareholders, and prospective purchasers that they should carefully consider the foregoing information along with all other currently available information and any information subsequently issued by the company."
Based in Bartlesville, Oklahoma, Bitcoin Generation describes itself on its website as a crypto exchange, offering dollar trading pairs with bitcoin, ethereum, litecoin, bitcoin cash SV, monero and XRP. The site also claims the company runs a mining facility with more than 10,000 machines.
According to Bloomberg, Bitcoin Generation's most recent income statement dates back to the third quarter of 2015, though no data from that period was available.
One of Bitcoin Generation's board members listed by Bloomberg is Janice Gray of Inolife Technologies, the firm trading under the BTGN ticker according to Google.
SEC Temporarily Suspends Trading in Little-Known Bitcoin Miner's Shares
gepubliceerd op Apr 29, 2019
by Coindesk | gepubliceerd op Coinage
Coinage
Vermeld in dit artikel
Recent nieuws
Alles zien
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.