On Friday, December 1st, the U.S. Commodity Futures Trading Commission (CFTC) agreed to allow trading of bitcoin derivatives on the Chicago Mercantile Exchange (CME), CBOE Futures Exchange (CFE), and the Cantor Exchange. The CME and CFE both self-certified new contracts for bitcoin futures, while the Cantor Exchange self-certified a new contract for binary options on bitcoin. The CFE plans to launch its futures on December 10th, with the CME coming in at a close second on December 18th. Cantor has not yet announced the official date of its bitcoin swaps launch; however, its website is already accepting registration to participate with a $100 down payment. Read More
Entrepreneurs are responsible for many of the wonderful inventions powering society today. The world needs the entrepreneurial spirit, and it’s worth commemorating! Today, on National Entrepreneurs’ Day (Tuesday, Nov 21st, 2017), we’re examining the importance of protecting the inventions and intellectual property of entrepreneurs and the benefits of hiring patent protection attorneys for startups.
In light of recent news of an arrest for alleged fraudulent activity in an Initial Coin Offering (ICO), it’s worth taking a step back and considering the legal status of ICOs as a method of raising money.
First, a quick word on ICOs. One way for a company to raise funds is to issue stock that may be offered to private investors or to the public. If private investors are involved, the company will go through an equity round often denominated as part of a series, with the first round being called Series A. If it’s the latter, the first public offering is called an Initial Public Offering or IPO.Read More
As of September 29, 2017, the SEC charged businessman Maksim Zaslavskiy and his two companies, REcoin Group Foundation and DRC (Diamond Reserve Club) World, with defrauding investors via a scheme involving two faux ICO’s (initial coin offerings) backed by nonexistent investments in real estate and diamonds. This event is particularly significant because it appears to be the first time that the SEC has filed actual fraud charges against an individual or entity using the ICO asset model.Read More
Throughout the many ups and downs of starting and growing a business, a knowledgeable attorney can be one of your best resources. Legal knowledge and competence can help your company through the seed, startup, establishment, expansion, and maturity stages. Though every business and situation is unique, most often, the sooner you employ the help of an attorney, the better. Navigating the business formation process, protecting your intellectual property (IP), ensuring proper contract management, and avoiding lawsuits and litigation are just a few of the reasons to seek legal advice when growing your business. Read More
On September 27th Overstock.com’s blockchain-focused investment subsidiary Medici Ventures announced that its very own alternative trading system (ATS) will be open for business for any initial coin offering (ICO) in need of a new place to trade per the new SEC guidelines. This platform was initiated via a joint venture between Medici’s capital markets branch tØ along with RenGen LLC and Argon Group and will operate under the regulation of FINRA and the SEC.
The controversial birth of Bitcoin Cash on August 1 has created a fundamental crossroads for both the users of the popular cryptocurrency along with its underlying technology. What could amount to trillion dollar questions are now being asked about the future of Bitcoin that are as much philosophical in nature as they are practical in application.
On August 2nd, the Chicago Board Options Exchange (CBOE) launched itself into the Bitcoin market worth tens of billions of dollars via an announcement that left many of the cryptocurrency’s users jumping for joy. This announcement revealed that the CBOE has entered into an exclusive global license with Gemini Trust Company to use Gemini’s Bitcoin market data to create new indices and to redistribute Gemini’s market data over the CBOE’s market data feeds. The CBOE also plans to use Gemini’s data to develop Bitcoin futures, which it expects to list on the CBOE Futures Exchange (CFE) in late 2017 or early 2018.Read More
FinTech is an umbrella term for technology innovation that disrupts trading, banking, insurance, and more in the financial services industry. From hedge funds and startups to big banks, Chicago has a deep bench of FinTech businesses collaborating and competing to create the most efficient financial services. The city has embraced FinTech’s expanding role in its already robust financial services industry by offering a plethora of events for businesses and individuals in the space.
When growing and fundraising for a business, there are many boundaries to overcome for both men and women. However, recent studies show that women specifically face more difficulties raising money through traditional fundraising channels, and the gender gap in venture capital funding is getting worse. Stories of sexual harassment and discrimination towards female founders from venture capitalists (VC’s) also abound in the news. Read More