Things are getting really murky in crowdfunded crypto assets.
There’s a new offering that is planning to use proceeds to buy both Ethereum crypto tokens and to make short term real estate loans.
The Initial Coin Offering is on the net, but does not appear to be registered with the US Securities and Exchange Commission.
Although there is some disclosure, such as management plans to take 12% (or ~$3 million) from the offering and 3% will be used for “Bounties” (payments to people who promote the offering), there does not appear to be any prospectus or offering document other than a slide presentation.
In addition, communication is to be over encrytped messenger service Telegram.
Here’s the link, but note this is NOT an endorsement: