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Football Legend Luis Figo Is The Newest Celebrity Behind An ICO

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The Portuguese football veteran and a true legend in the sport, Luis Figo, is one of the latest athletes who decided to officially promote an initial coin offering (ICO). The football star who is the winner of the 2000 Ballon d’Or and the 2001 FIFA World Player of the Year has become an ambassador for Stryking Entertainment, the company behind the platform Football Stars.

Stryking is a company that seeks to tokenize fantasy sports as well as bring more value to them. Luis Figo found this as the perfect opportunity for collaboration. In a statement along with the official announcement, he said:

“When I heard about Football-Stars for the first time I immediately liked the idea. Football becomes more and more data driven with detailed statistics about all aspects of the game – this is what Stryking’s platform utilizes to create a compelling fan experience. I am happy to support the experienced team at Stryking and spread the word about their platform that allows fans to engage with the teams and players they are backing.”

The official plan is to distribute the STRYKZ token through ICO. However, the details haven’t been released yet. Meanwhile, Figo joins a growing list of football legends and athletes who have endorsed ICOs so far. Some of them include the retired English football star Michael Owen, the boxing legend Floyd Mayweather, the boxing champion Manny Pacquiao, the Barcelona football star Luis Suarez and others.

Meanwhile, the US Securities and Exchange Commission (SEC) changed the founders of Centra Tex (an ICO promoted by Mayweather too) with fraud. Similar is the case with AriseBank, whose ICO has been endorsed by the retired boxing star Evander Holyfield but also charged with fraudulent activities.

Currently, the SEC hasn’t taken any enforcement action against token sales promoted by celebrities. However, they issued a bulletin stating that these celebrity ICO endorsements may be illegal in some cases.

(Image is taken from CoinCrispy.com)

 

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Venezuela’s Growing Interest In Bitcoin Trading: A Way Out Of The Hyperinflation Exodus

We have been covering the economic crisis in Venezuela on many occasions on our DC Forecasts crypto news site - and the hyperinflation that has been staggering for many residents of the country. The good news, however, is that Venezuelans have found a way out of the crisis - in Bitcoin. According to Coin Dance, more than 300 million Bolivars (Venezuela's fiat currency) have been traded last week only - and the record could only be broken this week, knowing that more than 292 million Bolivars have already been traded.  
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Venture Capital Firm Owner Announced That He Will No Longer Invest In Crypto Projects

The founder of Beijing-based venture capital firm named BitFund made his announcement public that he will no longer invest in blockchain projects or ICOs in the latest crypto news today. The founder, Li Xiaolai, publicly announced:
 “From this day on, Li Xiaolai personally will not invest in any projects (whether it is blockchain or early stage). So, if you see ‘Li Xiaolai’ associated with any project (I have been associated with countless projects without my knowledge, 99% is not an exaggeration), just ignore it. I plan to spend several years to contemplate on my career change. As for what I’m doing next, I’m not sure just yet.”
There might be a few reasons why Li decided to move away from the crypto sector mostly because of the crackdown on ICOs by the Chinese government and also because of the rise in scams in the crypto space. A Chinese national TV released a documentary about the technology claiming that blockchain has the potential to surpass the success of the Internet. However, just after the release of the documentary, the government of China tightened the ban saying that ICOs are considered as illegal fundraising tools. The government stated:
 “Such activities are not really based on blockchain technology, but rather the practice of speculative blockchain concepts for illegal fundraising, pyramid schemes and fraud. The main features are as follows:
  1. Risk of illegal activities, unregulated overseas markets and inability to track or monitor transactions made in ICOs.
  2. Illegal operations like profit-generating pyramid schemes and creating Ponzi schemes by describing them as ‘financial innovations.’’
Li does still hold a huge amount of Bitcoin worth billions of dollars but more investors are turning away because the multi-billion investor Li left the crypto space as the major managing partner.
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Altcoin News

Ripple Goes Above $0.50 Mark After Coinbase’s Announcement

In the latest altcoin news, the price of the altcoin Ripple (XRP) recently broke out of its bearish trend - hours after the new announcement by the cryptocurrency exchange giant. While Ripple has been trading around the $0.40 margin for most of the day, it managed to climb to the $0.50 margin and surge in a bullish sentiment. The price of Ripple is now trading at $0.52 up from the intraday low of $0.436. Analysts say that the bump was massively affected by Coinbase's announcement that it was overhauling the cryptocurrency listing process and replacing what has been an ad-hoc approach to one that more closely mirrors the processes through which other exchanges approve the coins for listing. The announcement from Coinbase also means that the exchange will list a cavalcade of new assets, which the exchange accented as one of the biggest novelties. As the firm said in an announcement:

“Today we’re announcing a new process that will allow us to rapidly list most digital assets that are compliant with local law, by satisfying listing requests in a jurisdiction-by-jurisdiction manner. With this shift in process, our customers can expect us to list most assets over time that meet our standards.”

The XRP investors long grumbled that Coinbase had declined to list their token, even as it listed other cryptocurrencies with smaller market caps. Even though this announcement does not guarantee that the firm will list XRP - there is still some allegations saying that it should be regulated as a security.  
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