MOBUMOBU MOBU STO news

MOBU is a security token issuance protocol and a licensed operation stock exchange. MOBU also offers crypto payment banking solutions to investors.
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MOBU STO – A Security Token Issuance Platform With a Twist

If you have been in the cryptocurrency space for the past year I’m sure you have heard of ICOs. These are investment vehicles utilizing crypto that pulled in hundreds of millions of dollars worth of funding for various projects. The biggest problem with ICOs was the unregulated nature of the offerings which subsequently resulted in many scams and failures. As a result, a new trend is emerging called STOs or Security Token Offerings. Just like with ICOs, STOs allow interested investors to contribute to a project. However, the biggest difference is that STOs are highly regulated and the platforms that issue those securities must adhere to rigorous rules set in place. Furthermore, not everyone can participate in an STO, usually the person must be an accredited investor and also must pass KYC verification prior to contributing funds. As with ICOs there are various issuance platforms for STOs, some of the more notable ones include Polymath, TokenIQ, Securitize, Swarm and much more. This is where MOBU comes in. MOBU is a security token issuance platform that will allow companies looking to run an STO to be able to execute it up to regulatory standards. The best thing about MOBU is that they plug into the already successful ERC20 token standard. According to their whitepaper: “The MOBU abstract smart contract will contain the code that is required by the STOs to conform to the MOBU ERC20 platform and the MOB20 standard protocol to adapt to the ideas and requirements of MOBU.” The twist when it comes to MOBU is that the security token issuance platform is running an STO of their own – STOception! By contributing to their STO, one is essentially betting on the platform’s success. When investing in the STO, one will get MOBU tokens in return. According to the whitepaper, the token’s revenue will come from various fees the platform will charge for listing STOs and transactions on the platform. Furthermore, there are already five confirmed issuers that have signed up on MOBU. One does have to be an accredited investor in order to participate and one also has to pass KYC verification as with most other STOs. The minimum investment requirement is 1 ETH which is quite low compared to some other STOs. The STO started on February 1st, 2019 and will commence until April 30th 2019. Originally Appeared on STOCryptoList The post MOBU STO – A Security Token Issuance Platform With a Twist appeared first on NullTX.
NullTX

ICO Analysis: MOBU

There’s a lot of buzz around security token offerings (STOs), and for good reason. There’s an $80 trillion securities market that has barely been touched by blockchain. Uncertainty and discrepancy in regulations have stifled the market up to this point. But it’s just a matter of time before the world is swimming in STOs. This […] The post ICO Analysis: MOBU appeared first on Hacked: Hacking Finance.
Hacked

Mobu ICO Signature Bounty For MoonForum

MoonForum Signature Campaign Earn additional stakes per week by posting in MoonForum. (signature codes will be announced soon, please stay tune!) Genesis Rank – Extra 0.5 stakes Premining and Up ranks- Extra 0.75 stakes Rules: 1. Create account in https://www.moonforum.net/ 2. Minimum 5 meaningful posts per week must be made during bounty period. Off-topic, spam and meaningless posts will not count. 3. Posts should have a minimum length of 70 characters 4. Posts on local section are allowed but not more than 30% of the total posts. Read more https://coinfunda.com/mobu-ico-signature-bounty-the-first-ever-bounty-campaign-for-moonforum/
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Mobu ICO: Blockchain System For Creating Compliant Security Tokens

Mobu is a decentralized platform, as well as an end-to-end solution that makes it possible for ICOs to release compliant security tokens through the blockchain. It seeks to address the difficulties that are associated with releasing an ICO accompanied by a security token because of technical, legal, and regulatory requirements. The Mobu platform is able to make this a possibility through its blockchain-based solution. The solution is able to eliminate any worry that cryptocurrency developers may have pertaining to the procedures that must be followed when looking to offer a security token. Mobu ICO Details Token Type: ERC-20 Token Soft Cap: 1,000,000 USD Token Hard Cap: 35,000,000 USD Token Price: 0.15 USD (with a twenty percent bonus dependent on the participation date) Token Sale Date: 1st December 2018 Token Last Sale Date: 31st January 2019 Mobu Development Team The team behind the development of the Mobu platform is one that covers various professional fields, with all the participants being well-versed with blockchain. For instance, its CEO Juan Engelbrecht has vast experience on stocks and equities in the South African market, having worked with the Johannesburg Stock Exchange in the past. Apart from working with stocks, and equities and being in possession of a cost accounting management degree, Juan also happens to be one of the earliest supports of the blockchain infrastructure. Over the years, he has worked tirelessly to try and combine his various passions. He also has a very high appreciation for decentralized technology. Another member of this team is Paul Pelser, the CFO. Paul has a double commerce degree. He is also a chartered accountant with vast experience working as an auditor with one of the biggest manufacturers in South Africa. The Problem to Be Addressed by Mobu Mobu seeks to address the challenges that are associated with the creation of security tokens, in addition to any other digital assets that can be used as security tokens. The issue is quite serious, given the fact that it can be very difficult for a developer to produce a compliant token when they are not well-versed with the framework to be used. In addition, there also exists a number of legal complications that are likely to interfere with the security tokens. This can be very restrictive, considering that this is a valuable industry, but one, which has unfortunately been ignored by blockchain. How Will Mobu Resolve this Issue? Mobu will provide a solution that seeks to address the root of the problem. This will be done by launching a platform that can be used to introduce security tokens. Mobu will provide all the expertise that is required to handle all kinds of laws and regulations, such as guaranteeing token compliance. Apart from assisting cryptocurrency companies and developers to launch their security tokens, the platform will also be providing additional benefits, e.g., providing developers with direct, and unrestricted access to verified, and fully compliant investors. It will also limit the number of securities that can be traded by the investors through the use of smart contracts.
Bitcoin Exchange Guide

Facilitating Compliant Security Tokens Release on Blockchain: Introducing Mobu.io

Setting the mood for tokenized securities, Mobu establishes a platform that allows firms and companies to launch digital securities on the blockchain, while giving investors the choice to finally back compliant digital tokens July 31th, 2018: As a technology that has turned the financial markets upside down with its innovative and groundbreaking design, blockchain-powered tokens have faced legal issues that have forced launching platforms to create digital assets that are utility tokens. Security Tokens and Their Legality As a multi-trillion dollar market, securities are largely ignored on the blockchain. With blockchain, digital securities crossed physical borders and touched multiple legal jurisdictions, leading to a serious confusion on what laws and regulations to follow by the developers. Digital securities are cheaper to float, trade and are cost effective in generating than traditional ones. Yet, when looking at the data of digital securities on the blockchain, of the 86 tokens launched in first term of 2018, just two were securities. Considering that these tokens were able to raise an astounding $400,000,000, the need of a firm plan for launching securities is the need of the hour. Mobu: Solving the Blockchain Securities Problem As a platform for launching security tokens, Mobu offers cryptocurrency developers the expertise to handle different laws and regulations so that their tokens are compliant. Freeing firms from the headache of legality, the platform also gives: Direct access to verified (KYC/AML) investors and compliant security token firms. Limits securities to be traded between approved investors through smart contracts covering due diligence and authorised compliance centers. Gives investors the confidence on asset liquidation by allowing to exit the fundraising if security issuer does not adhere to agreed timeline. Agreement with different banks so crypto to fiat transactions are not blocked. Voting rights and dividends to investors. Overall efficiency due to adoption of blockchain. The Team That Powers it All The Mobu team is a multi professional and talented assemble of people who have a vast and extensive experience not only in blockchain, but the financial world too. Leading the pack is their CEO, Juan Engelbrecht. Trading in equities for major stockbrokers in South Africa and then later directly on the Johannesburg Stock Exchange, his respectable Cost Accounting Management degree has been put in good use. As an early supporter of blockchain and cryptos, his love for the decentralized technology has helped him bring the two different worlds together. A double commerce degree and a qualified chartered accountant, Paul Pelser is the perfect man to be the CFO of Mobu. Experienced auditor, he has worked with the largest local industrial manufacturer in South Africa. Other notable members include Frikkie van Biljon, a computer programming wizard and legal advisors Petri van Zyl and Izak Viljoen. The Mobu platform offers a professional atmosphere that not only gives tokenized security offering firms the ease of floating digital assets, but also gives investors confidence that their investments are protected by the same laws applied on traditional ones. Visit the Website: https://www.mobu.io/ Read the Whitepaper: https://www.mobu.io/assets/mobu_whitepaper.pdf?80172489074 Chat on Telegram: https://t.me/mobuCHAT Follow on Twitter: https://twitter.com/MobuICO Like on Facebook: https://web.facebook.com/MobuICO/ Check out the Medium: https://medium.com/mobu-io Read on Reddit: https://www.reddit.com/r/Mobu/ This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of NullTX. This is not investment, trading, or gambling advice. Always conduct your own independent research.
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New York Attorney General’s Office Accuses Bitfinex Of Covering $850 Million Losses Using Tether Funds

If you are our BitcoinExchangeGuide’s regular reader. You should already know about the shady connection between Bitfinex and Tether. This Thursday, a document by the New York Attorney General’s (NYAG) office revealed that iFinex, the company behind both Tether (USDT) and Bitcoin exchange Bitfinex, is being sued. In the press release, the attorney general Letitia […]
Bitcoin Exchange Guide

New York AG’s court filings written in ‘bad faith’ and ‘riddled with false assertions,’ says Bitfinex’s rebuttal

Bitcoin and Tether have been closely related since time immemorial, but the recent string of events pushed the price of Bitcoin down by 9% in about 3 hours. This has caused a domino effect, causing the price of other altcoins to fall as well. The New York State Attorney General is suing Bitfinex and the closely affiliated firm, Tether, responsible for the infamous stablecoin, USDT. According to Yahoo, NY AG released a 23-page document which suggested that the AG has reason to believe that there might be a fraud being carried out by the two companies in cahoots with each other. Yahoo stated that among other things, Tether and Bitfinex are engaged in, “undisclosed, conflicted transactions to cover Bitfinex’s losses, approximately $850 million, by transferring money out of tether reserve funds.” Tether and Bitfinex aren’t completely unaware of their problems in trying to retain banks for their business and the allegations of Bitcoin’s 2017 pump was fueled by Tether and Bitfinex. Bitcoin’s prices took a nasty fall after the news broke out. However, the prices have recuperated partially since then. Bitfinex too did not waste time with its rebuttal to the New York AG’s charges. Bitfinex’s rebuttal stated that New York’s AG released the order without giving the parties proper “notice or hearing” and that the Attorney General was attempting to “compel Bitfinex and Tether to provide certain documents and seeking certain injunctive relief.” The same rebuttal was released by Tether. The blog further stated, “The New York Attorney General’s court filings were written in bad faith and are riddled with false assertions, including as to a purported $850 million “loss” at Crypto Capital. On the contrary, we have been informed that these Crypto Capital amounts are not lost but have been, in fact, seized and safeguarded.” Bitfinex stressed that they were actively exercising their rights to get the stated funds released. It also added that the New York State Attorney General’s office seemed to be intent on undermining Bitfinex’s efforts, to the detriment of Bitfinex’s customers. The post New York AG’s court filings written in ‘bad faith’ and ‘riddled with false assertions,’ says Bitfinex’s rebuttal appeared first on AMBCrypto.
AMBCrypto

How Crypto Markets Are Reacting to the Tether-Bitfinex Allegations

The cryptocurrency markets endured a loss of as much as $10 billion around 21:00 UTC on Thursday, following allegations that the Bitfinex exchange covered up an $850 million shortfall using the U.S. dollar-pegged Tether (USDT) stablecoin. The New York Attorney General’s office alleged in a statement on Thursday that Bitfinex lost $850 million and used customer and […]
CoinDesk

There are serious, existential, risks to Bitfinex and Tether with the information out today. Here's a primer on what's going on.

Bitfinex and Tether may be insolvent. Bitfinex and Tether and owned and operated by the same people. They are separate entities, but they share significant common personnel. Today the Assistant NYAG filed a motion to try and prevent Bitfinex from taking part in any transaction between it and Tether. Here's the raw document: https://iapps.courts.state.ny.us/fbem/DocumentDisplayServlet?documentId=vIexA1b0spKOnK_PLUS_ZUGTJ3A==&system=prod Reporting on the above filing is available from the WSJ: https://www.wsj.com/articles/bitfinex-used-tether-reserves-to-mask-missing-850-million-probe-finds-11556227031?mod=rsswn What is going on? The filing lays out that Bitfinex has lost access to $850 million dollars of corporate and depositor money to a company called Crypto Capital. Bitfinex believes that those funds may have been stolen and that Crypto Capital has been engaged in defrauding Bitfinex. Bitfinex - in order to pay out withdrawals has been running out of cash. Bitfinex has engaged in multiple transactions with Tether of questionable nature. It has obtained lines of credit and fiat currency (ostensibly to pay out fiat withdrawals - this is speculation but a logical conclusion based on the filing and its context) It also appears to have sold equity in itself to Tether for access to Tether's reserves. There is still a lot of missing information, but it seems clear that Bitfinex has lost $850 million dollars in some fashion and attempted to fulfill customer withdrawal requests from funds from Tether reserves. Tether has recently updated its terms: “Every tether is always 100% backed by our reserves, which include traditional currency and cash equivalents and, from time to time, may include other assets and receivables from loans made by Tether to third parties, which may include affiliated entities.” That other affiliated entity is Bitfinex. Tether now no longer holds all currency reserves - it now has extended a line of credit to Bitfinex - to the tune of $700 million, and may also hold shares in Bitfinex. If Bitfinex has lost $850 million, then the equity that Tether holds in Bitfinex may be encumbered or worthless. If Bitfinex has taken out loans or drawn on its line of credit, those funds may never be returned. There is now clear evidence that tether is at serious risk of of not being backed at a 1:1 ratio. What does this mean for you? Tether now is EXTREMELY risky to hold. There is clear evidence that Bitfinex has taken money from Tether, and its ability to repay it is in serious doubt. If Bitfinex truly has lost $850 million dollars, it may be insolvent. If Tether no longer has all the money backing it - because it owns Bitfinex assets, which are of questionable value, it's value will plummet, and all assets denominated in tether will appreciate. There are lessons from Mt. Gox here. Mt. Gox did not just happen in one day. It played out over multiple months, the entire time with assurances that things are fine. Things were not fine - at all. The filing released today is damning. It is linked above, read it for yourself. The evidence presented in there is clear that something is terribly wrong at Bitfinex. It is not a certainty that Bitfinex is insolvent - but the filing lays out items that are terrifying to anyone holding significant financial assets related to Bitfinex and Tether entities. Plain and simple: Depositors, and users of Tether are at serious risk of taking losses. Exchanges are the largest holders of Tethers, and when/if it becomes clear that tethers are no longer worth 1:1 they will be forced to freeze all tether assets until the situation can be straightened out. This process will potentially take years, into a decade or more. Mt. Gox funds are still not distributed to this day, over 5 years ago. The sheer complexity of a Bitfinex/Tether insolvency will play out over multiple jurisdictions and will take an eternity to sort out. Again, read the primary documents filed by the AAGNY and decide for yourself if it is likely that Tether and Bitfinex are completely safe. Thousands of us lost our funds in Mt. Gox - and we've paid dearly. There are serious concerns if you are a Bitfinex customer, or if you hold USDT Tether on other exchanges.
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