Top 100 Blockchain and Crypto Influencers on Twitter to Follow

Twitter is a great source of information, especially if you deal with cryptocurrencies and blockchain technologies — it helps to stay up to date and have your finger on the pulse of the market not only by reading the news but also by watching the influencers.

The XTRD team has compiled a list of Twitter accounts you probably would be interested in following if you work in blockchain & crypto related fields. Of course, there are hundreds of them, but we decided to select the one hundred most popular people in crypto space, based on relevance and the number of followers.

Note: XTRD does not endorse any of these sources or endorse any of their opinions, and we encourage you to consume all publicly disseminated information with a few grains of salt.

Ready?

Ranked by follower count:

1. John McAfee

Followers: 844000

John McAfee is a British-American computer programmer, businessman, and cryptocurrency enthusiast. Founder of McAfee.

2. Vitalik Buterin

Followers: 814000

Russian-Canadian programmer and writer, primarily known as a co-founder of Ethereum and as a co-founder of Bitcoin Magazine.

3. Charlie Lee

Followers: 759000

Cryptocurrency enthusiast and creator of Litecoin. Ex-Director of Engineering at Coinbase and Managing Director of the Litecoin Foundation.

4. Marc Andreessen

Followers: 705000

American entrepreneur, investor, and software engineer. Serves on the board of Facebook, eBay, Hewlett Packard Enterprise, Kno, Stanford Hospital, Bump Technologies, Anki, Oculus VR, Dialpad, and TinyCo. A proponent of Bitcoin and cryptocurrency.

5. Roger Ver

Followers: 552000

Bitcoin Evangelist and Angel Investor. Founding Member and Board Advisor at Bitcoin Foundation. Early investor in such Bitcoin startups as Bitcoin.comBlockchain.comZ.cashBitPayKrakenPurse.io.

6. Andreas Antonopoulos

Followers: 452000

Entrepreneur and coder, Bitcoin & open blockchain expert, speaker. Author of Mastering BitcoinThe Internet of MoneyMastering Ethereum.

7. Erik Voorhees

Followers: 310000

CEO of the instant Bitcoin and altcoin exchange ShapeShift.io.

8. Nick Szabo

Followers: 221000

Computer scientist, legal scholar and cryptographer known for his research in digital contracts and digital currency. The phrase and concept of “smart contracts” was developed by this guy. Also designed Bit Gold, which many consider the precursor to Bitcoin.

9. CryptoYoda

Followers: 217000

Cryptoenthusiast and technical analyst.

10. Brad Garlinghouse

Followers: 192000

CEO at Ripple.

11. Jameson Lopp

Followers: 178000

Creator of Statoshi and Infrastructure Engineer at Casa. At the moment, he’s most interested in opportunities within the Bitcoin and crypto asset ecosystem.

12. Barry Silbert

Followers: 171000

Founder and CEO at Digital Currency Group, parent of GrayscaleGenesis Global TradingCoinDesk & investor in 100+ coins, BTC, ETC, ZEC, MANA, ZEN, etc.

13. Tone Vays

Followers: 166000

Derivatives trader, analyst & content creator in the realm of economics, finance, blockchain & Bitcoin. Host of CrytpoScam Podcast.

14. Vinny Lingham

Followers: 164000

CEO of Civic, building global blockchain ID platform. General Partner at Multicoin Capital.

15. Pomp

Followers: 161000

Founder & Partner at Morgan Creek Digital. Writes a daily email newsletter analyzing crypto news for institutional investors.

16. Charlie Shrem

Followers: 155000

Bitcoin pioneer, Founder of The Bitcoin Foundation, Chief Visionary Officer at Crypto.IQ, speaker and writer.

17. Gavin Andresen

Followers: 148000

Software developer best known for his involvement with Bitcoin. In 2012 founded the Bitcoin Foundation to support and nurture the development of the bitcoin currency, and by 2014 left his software development role to concentrate on his work with the Foundation.

18. CRYPTO CO฿AIN

Followers: 146000

Crypto trader.

19. Cameron Winklevoss

Followers: 136000

Co-Founder & President at Gemini. Principal at Winklevoss Capital.

20. Mahesh Sashital

Followers: 133000

Entrepreneur and developer, co-founder of Smartereum.

21. Jimmy Song

Followers: 132000

Bitcoin educator, developer and entrepreneur.

22. Simon Cocking

Followers: 119000

Senior editor Irish Tech News, editor in chief at Crypto Coin News.

23. ฿TF%$D!

Followers: 114000

According to his Twitter bio, “semi-retired crypto trader”.

24. Don Tapscott

Followers: 111000

Media theorist. author, adjunct professor, co-founder of the Blockchain Research Institute.

25. David Schwartz

Followers: 109000

CTO at Ripple and one of the original architects of the XRP network.

26. Tim Draper

Followers: 105000

American venture capital investor, founder of DFJ Venture CapitalDraper AssociatesDraper University, and Innovate Your State.

27. Squeeze

Followers: 104000

Crypto trader, investor and venture capitalist since 2013. Featured in Cointelegraph and HuffPost.

28. Laura Shin

Followers: 101000

Crypto & blockchain journalist. Host of Unchainedpodcast.co & Unconfirmedpodcast.com

29. The Crypto Dog

Followers: 94500

Crypto trader, started mining Bitcoin in 2011, full-time blockchain investor and market commentator.

30. Balaji S. Srinivasan

Followers: 94000

CTO of Coinbase and co-founder of CounsylEarnTeleport, and Coin Center.

31. Spencer Bogart

Followers: 90300

Partner at Blockchain Capital. Former Bitcoin analyst and VP at Needham & Company.

32. Joseph Young

Followers: 87000

Analyst and investor, focusing on finance, cryptocurrency, blockchain, fintech. Contributing to ForbesBinary DistrictCointelegraphCryptoSlate.

33. ฿ITLORD

Followers: 83500

Crypto trader.

34. Giacomo Zucco

Followers: 75400

Supremo at BHB Network and Bitcoin maximalist.

35. Willy Woo

Followers: 75200

Crypto writer. Does some data-driven research on cryptocurrency as an investment and has publications on ForbesCoinDesk and BraveNewCoin.

36. ParabolicTrav

Followers: 72200

Crypto trader.

37. Emin Gün Sirer

Followers: 71200

Professor at Cornell University, co-director at Initc3.org, system builder. Passionate about Dist Sys, OSes, Blockchains, NoSQL, and Bitcoin.

38. Meltem Demirors

Followers: 70800

Builds products at CoinShares. Teaches at MIT and Oxford University. Investor and advisor.

39. Tiffany Hayden

Followers: 70000

Independent advisor, supporter of Bitcoin, XRP, CodiusCoil and Interledger.

40. DonAlt

Followers: 65900

Teacher, investor and cryptocurrency trader.

41. Michael Fisher

Followers: 65000

Analyst, tech evangelist. Cybersecurity, IoT, Fintech, DataScience & VR influencer at DZone & onalytica.

42. Jon Matonis

Followers: 64400

Monetary economist, Founding Director at Bitcoin Foundation, CEO of Hushmail, Startup Team at RSA’s VeriSign, Chief Currency Dealer at VISA.

43. Stephan Tual

Followers: 63600

Founder of Atlas Neue, former CCO of Ethereum.

44. Parabolic Beastlorion

Followers: 53000

Crypto trader.

45. Jackson Palmer

Followers: 47200

Group Product Manager at Adobe. Created Dogecoin.

46. Bruce Fenton

Followers: 45700

Founder of Atlantic Financial, host of Satoshi Roundtable, Board Member at Bitcoin Foundation.

47. Dr. Craig S Wright

Followers: 45100

Chief Scientist at nChain.

48. Da Hongfei

Followers: 44200

Founder of NEO, CEO at Onchain.

49. Kyle Torpey

Followers: 43300

Full-time Bitcoin writer since 2014. Contributor at Forbes and BitcoinMagazine. Featured on NasdaqBusiness Insider and Motherboard.

50. Tuur Demeester

Followers: 43100

Founder of Adamant Capital.

51. Matt Corallo

Followers: 40000

Bitcoin developer. Full-time on open source Bitcoin projects at Chaincode Labs.

52. slush

Followers: 40000

CEO & IT Architect at SatoshiLabs. Founder of world’s first Bitcoin pool Slush Pool and the first Bitcoin hardware wallet Trezor.

53. Pierre Rochard

Followers: 39000

Software engineer, running Bitcoin Advisory.

54. Francis Pouliot

Followers: 38600

CEO of Satoshi Portal. Blockchain researcher and analyst. Former public policy analyst and free-market economist.

55. Arianna Simpson

Followers: 38400

Venture capitalist. Before she started investing, Arianna was a PM at BitGo, where she was the third employee. Prior to BitGo, she worked at Facebook in Global Marketing Solutions and at Y Combinator-backed Shoptiques, where she ran sales.

56. A v B

Followers: 37900

Canadian crypto expert.

57. Luke Dashjr

Followers: 37400

Bitcoin Core developer, known in the Bitcoin world as Luke-Jr. Founder of Eligius mining pool. He has made over 200 contributions to Bitcoin Core, and maintains the Bitcoin Improvement Proposals section on GitHub.

58. Stefan Thomas

Followers: 35800

Open-source developer and distributed systems advocate. Co-creator of Interledger and Founder at Coil.

59. Nathaniel Popper

Followers: 34400

Nathaniel writes about technology and finance for New York Times. Author of Digital Gold, a history of Bitcoin.

60. Daniel Larimer

Followers: 33700

Software developer and cryptocurrency serial entrepreneur. Created the cryptocurrency platform BitShares, was a co-founder of the blockchain social platform Steemit, and is CTO of EOS, with the company block.one. Creator of the DPOS consensus algorithm and Graphene technology.

61. Preston Byrne

Followers: 33200

Blockchain technologist, independent consultant, lawyer. Founder and former COO of Monax, a company that created the first open-source permissioned blockchain client in 2014. Advocates for civil liberties, digital rights, due process rights, free markets, and sensible regulation of cryptography.

62. Saifedean Ammous

Followers: 33100

Bitcoin economist. Author of The Bitcoin Standard: The Decentralized Alternative to Central Banking.

63. The Crypto Monk

Followers: 32100

Crypto trader.

64. Muneeb Ali

Followers: 32100

Blockchain entrepreneur and co-founder of Blockstack, a network for decentralized applications. Princeton Ph.D.

65. Aaron van Wirdum

Followers: 31500

Technical editor at Bitcoin Magazine.

66. Anthony Di Iorio

Followers: 31000

CEO & Founder of Decentral & Jaxx, Co-Founder of Ethereum.

67. Jonas Schnelli

Followers: 30800

Bitcoin Core developer and maintainer, co-founder of Digitalbitbox.com. Author of libbtc. C, C++, Obj-C Pro.

68. Alan Silbert

Followers: 30100

Executive managing director at INX. Bitcoin evangelist. Formerly founder and CEO of BitPremier. 20+ years in commercial banking.

69. Michael Parsons

Followers: 28400

Blockchain & Bitcoin advisor. Chairman at Cardano Foundation.

70. Alex Sunnarborg

Followers: 28200

Founder of Tetras Capital and Lawnmower.

71. Jeremy Gardner

Followers: 25200

Co-founder & Managing Partner at Ausum Ventures. Founded Blockchain Education Network and co-founded SAAVHA.

72. Chris Larsen‎

Followers: 25100

Co-founder & Executive Chairman of Ripple.

73. Michael Goldstein

Followers: 24500

President of Satoshi Nakamoto Institute and co-host at Noded Bitcoin Podcast.

74. Peter Van Valkenburgh

Followers: 24200

Cryptolawyer, Director of Research at CoinCenter, Board Member at Zcash Foundation, Juris Doctor at NYU Law.

75. Jed McCaleb

Followers: 22700

Co-Founder of Stellar Development Foundation.

76. Alex Van De Sande

Followers: 22100

UX Designer at Ethereum.

77. Nik Bougalis

Followers: 21800

Cryptographer & Software Engineer leading the C++ team at Ripple. Entrepreneur, consultant.

78. Adam Ludwin

Followers: 21400

CEO at Interstellar.

79. Oleg Andreev

Followers: 20200

Protocol architect at Interstellar. Author of GitboxCoreBitcoin and BTCRuby.

80. Jill Carlson

Followers: 20000

Cryptocurrency consultant. Jill has done academic research on blockchain and built enterprise products with banks. Right now, she mostly works on cryptocurrency and token projects.

81. Ben Davenport

Followers: 19000

CTO and Co-Founder of BitGo. Previously, Ben co-founded Beluga, which was acquired by Facebook, and became the basis for Facebook Messenger.

82. Jack Mallers

Followers: 17600

Developer and designer. Built ZeroHouseEdge, JacksChess, LanternHQ and RollWithMe. Currently, Jack is crafting consumer experiences at VC-backed startup Label Insight.

83. Dennis Parker

Followers: 17600

Bitcoin maximalist specialized in Bitcoin politics and game theory.

84. CryptoTrooper

Followers: 17300

Crypto trader and technical analyst.

85. Tim Swanson

Followers: 16500

Founder of PostOakLabs. Advisor at clearmaticsBlockSeerELM Labs. Formerly Director of Market Research at R3.

86. Alex Bosworth

Followers: 16000

Infrastructure Lead at Lightning.

87. Sergio Demian Lerner

Followers: 14800

Cryptocurrency security consultant.

88. Matthew Roszak

Followers: 14100

Co-Founder at Bloq and Founding Partner at Tally Capital.

89. Caitlin Long

Followers: 12800

Blockchain & Bitcoin enthusiast, chairman & president of Symbiont. 22 years of corporate finance experience (Morgan Stanley, Credit Suisse, Salomon Brothers).

90. Donald McIntyre

Followers: 12800

Founder of Etherplan. Creates articles and videos with research and reviews of the best blockchains, sidechains, and decentralized apps.

91. Daniel “Buddha of Tulips” Jeffries

Followers: 12700

Blockchain & cryptocurrency expert.

92. Alyse Killeen

Followers: 12100

Author, advisor and early blockchain investor. Founding Partner at StillMark Co, Founder and Executive Director of City Fellows Consortium and Women in Venture.

93. Mike Belshe

Followers: 12100

CEO at BitGo, Inventor of SPDY (now HTTP/2.0), Google Chrome engineer, Co-Founder of Lookout Software.

94. Daniel Krawisz

Followers: 11600

Director of Research at Satoshi Nakamoto Institute. Writes articles about the economics and technology of Bitcoin.

95. Connie Gallippi

Followers: 11000

Founder and Executive Director at BitGiveOrg.

96. Christian Decker

Followers: 9800

Bitcoin researcher.

97. Min Kim

Followers: 9100

Founder of ICON Project, Council Member at ICON Foundation.

98. Jamie Redman

Followers: 8600

Bitcoin trader and enthusiast, graphic designer and writer/journalist at Bitcoin.com.

99. Lawrence Nahum

Followers: 7800

Bitcoin entrepreneur, open source enthusiast, Founder and CEO at GreenAddress, Senior Architect at Blockstream.

100. Sarah Hody

Followers: 5900

Attorney at Perkins Coie. Advises entrepreneurs, fintech companies, investors, and innovators in the blockchain space. Previously Regulatory Counsel at Coinbase.

Please let us know if you think that there anyone that should be included in this list or excluded from it, and share your ideas about any other similar overviews.

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XTRD is a company founded by Wall St professionals dedicated to bringing battle-tested financial technologies and standards to cryptocurrency markets. This means higher liquidity, lower fees, and combined platforms.

What Cryptocurrency Can Learn From Wall Street

The groundbreaking potential of the cryptocurrency space has been well-documented over the last couple years. The maverick-like nature of the new industry is refreshing, and its non-conforming characteristics appealing. Yet, even the most radical innovations and industries can learn from their more established, monolithic counterparts that have come before them. When it comes to crypto, one of the primary sectors it can model is one of the largest, stablest sectors on the planet: Wall Street.

Instead of reinventing the wheel, taking the best practices from the financial industry and tailoring them to this emerging space can truly take the technology to infinity, and that’s exactly what we’re determined to accomplish here at XTRD. Based on our years of experience in the financial sector, we are applying proven, battle-tested practices that Wall Street has to offer and integrating them into our suite of products designed for the crypto space. By unifying crypto exchanges with our software, big players such as hedge funds, financial institutions and algorithmic traders can finally get fully immersed in the industry, resulting in high liquidity and lower fees for end users.

On that note, here are 4 of the biggest lessons cryptocurrency can take from Wall Street.

1. Unification Means More Money

Unifying crypto exchanges won’t only be advantageous to the large institutions involved, it will also benefit all other parties across the board through lower fees, faster trades and much more. Additionally, with less market volatility, parties with much bigger pockets will begin to invest and trade throughout the space. With more money being circulated throughout the industry, the floodgates of the mainstream adoption of cryptocurrency will be opened. This will lead to unprecedented opportunities for individuals from all walks of life in the form of new business ventures, investment opportunities, startup funding and more.

2. With More Money Comes More Security

Unfortunately, good intentions don’t always equate to good behavior. With complete decentralization and a lack of oversight in crypto, corruption becomes much more likely. Whether in the form of unscrupulous attackers hacking into a user’s wallet or a company having the ability to charge exorbitant trading fees for their coin, little can be done given the low volume of buyers, sellers and key decision makers within the space. In fact, according to research conducted by the University of Singapore and the University College of London, out of 1 million smart contracts examined, 34,000 were found to have vulnerabilities, making it clear that security needs to be a priority for crypto.

As more financial institutions begin investing in crypto, these same institutions will want to protect their assets, and will more than likely go to extraordinary measures to ensure their assets are secure. This will likely equate to more scrutiny, technological advancements, and checks and balances put in place in order to maximize protection of a user’s coins.

3. Leveraging a FIX-based API

In 1992, Bob Lamoureux and Chris Morstatt developed a monumental technology that replaced the clunky, manual communication traditionally used in equity trading with electronic communication, beginning with Fidelity Investments and Salomon Brothers. This enabled seamless communication and allowed data to help make optimal trading decisions for buyers and sellers across different markets. FIX API is a proven method of connecting markets that has become the industry standard since its inception.

Yet, despite the widespread popularity of the crypto space, no FIX equivalent exists to bridge the gap. This is one of the problems we’re addressing here at XTRD. With our low latency, FIX-based API, crypto markets will finally be able to be connected in one convenient place.

4. These Problems Will Not Go Away

Ignoring the problem of saturation with no real order or organization altogether will not make the issue disappear. According to Investing.com, as of May 2018 there were over 1,600 cryptocurrencies listed on the market, and this number only grows larger with each passing month. Without a proper, all-encompassing solution to the high volume of coins, liquidity will continue to remain low as the number of buyers and sellers remains relatively small.

The solution here is simplicity. With simplicity and consistency in a market comes less volatility. In conjunction with lower volatility, adoption rates will increase as well, making it clear that the faster crypto exchanges are unified, the easier the industry will be able to soar to new heights.

The cryptocurrency industry is a lot of things: exciting, promising and innovative. Yet, one thing it certainly is not is streamlined, efficient or user-friendly. By the same token, the speculative nature of the market has made it clear it’s far from perfect. By applying a handful of the most reliable practices of Wall Street to cryptocurrency, the industry’s full potential will be able to be unlocked, and previously immeasurable opportunities for people across the globe will be made possible.

Clarity from the SEC — Bitcoin and Ether Likely Fail the Howey Test

By Daniel G. Viola, Partner of Sadis & Goldberg, LLP, a New York based law firm. Daniel is the Head of the Digital Asset and Compliance Groups at his firm and is also the founder of the Crypto Asset Webinars and the Blockchain Shift Conferences.

On May 1, 2018, the Wall Street Journal reported that while Bitcoin escaped government oversight as a security, regulators were examining whether other widely traded cryptocurrencies should be regulated as securities. In particular, Ether, the world’s second most valuable cryptocurrency after Bitcoin. This analysis typically turns on whether the founders of the virtual currency exert significant influence over their value, similar to the way a company’s stock price is dependent on its management team. Critics to this position argue that the analysis depends on how decentralized the organization is. For example, with Ether, since it has become highly decentralized, it should not be deemed a security because an owner of Ether is not relying on the efforts of the founders of Ether to experience a profit from their purchase of Ether.

On June 14, 2018, Mr. William Hinman, the Director of the Division of Corporation Finance at the U.S. Securities and Exchange Commission (the “SEC”) seemed to agree with the critics and concluded that Ether , the cryptocurrency of the Ethereum network, is likely not a security and is therefore likely not subject to the requirements of U.S. securities laws. Of course, a non-security can be offered and sold in a way that causes investors to have a reasonable expectation of profits based on the efforts of others. For example, when a Bank Certificate of Deposit, which is generally exempt from being treated as a security under Section 3 of the U.S. Securities Act of 1933 (the “Securities Act”), is sold as a part of a program organized by a broker who offers retail investors promises of liquidity and the potential to profit from changes in interest rates, then this instrument can be part of an investment contract and defined as a security, as set forth in Gary Plastic Packaging Corp. v. Merrill Lynch, Pierce, Fenner & Smith, Inc., 756 F.2d 230 (2d Cir. 1985).

Under Section 2(a)(1) of the Securities Act, a security includes “an investment contract.” See, 15 U.S.C. § 77b. An investment contract is an investment of money in a common enterprise with a reasonable expectation of profits to be derived from the entrepreneurial or managerial efforts of others, such as a founder or promoter of a company. See, SEC v. Edwards, 540 U.S. 389, 393 (2004); SEC v. W.J. Howey Co., 328 U.S. 293, 301 (1946); see also, United Housing Found., Inc. v. Forman, 421 U.S. 837, 852–53 (1975) (The “touchstone” of an investment contract “is the presence of an investment in a common venture premised on a reasonable expectation of profits to be derived from the entrepreneurial or managerial efforts of others.”). This definition embodies a “flexible rather than a static principle, one that is capable of adaptation to meet the countless and variable schemes devised by those who seek the use of the money of others on the promise of profits.” Howey, 328 U.S. at 299. The test “permits the fulfillment of the statutory purpose of compelling full and fair disclosure relative to the issuance of ‘the many types of instruments that in our commercial world fall within the ordinary concept of a security.’” Id. In analyzing whether something is a security, “form should be disregarded for substance,” Tcherepnin v. Knight, 389 U.S. 332, 336 (1967), “and the emphasis should be on economic realities underlying a transaction, and not on the name appended thereto.” Forman, 421 U.S. at 849.

In order for an arrangement to be deemed an investment contract, it must qualify under all three (3) prongs of the Howey Test. See also, SEC v. SG Ltd., 265 F.3d 42, 48 (1st Cir. 2001), holding that all the factors must be present in order for an investment contract to meet the statutory definition of a “security.”

Lessons Learned from Titanium Blockchain — A Failed ICO

By Daniel G. Viola, Partner of Sadis & Goldberg, LLP, a New York based law firm. Daniel is the Head of the Digital Asset and Compliance Groups at his firm and is also the founder of the Crypto Asset Webinars and the Blockchain Shift Conferences.

Not all offerings of tokens are improper, and when conducted in accordance with federal and state securities laws, can be a positive source of capital for entrepreneurial start-up companies. The U.S. Securities and Exchange Commission (the “SEC”) continues to aggressively investigate fraudulent offerings and to protect investors from alleged wrongdoing. For example, on May 29, 2018, the SEC issued a press release announcing that it obtained a court order halting an ongoing fraud involving an initial coin offering (“ICO”) that raised as much as $21 million from investors in and outside the U.S. The SEC also convinced a court to approve an emergency asset freeze and appoint a receiver for Titanium Blockchain Infrastructure Services Inc. (“Titanium”), the firm behind the alleged scheme. Titanium was also the subject of a “wallet hack” in February 2018, resulting in a theft of a large supply of their token supply. Clearly, ICO issuers must impose proper security precautions to avoid site and wallet hacks. Investor confidence demands a secure environment in order to promote trust. Moreover, Titanium also highlights the importance of investor due diligence and presents a number of valuable marketing lessons that legitimate ICO issuers can learn from.

In general, ICO issuers should not use testimonials in their offering documents or otherwise. Testimonials are suspect for a number of reasons. You could easily misinterpret the tone of a testimonial or leave out important qualifications from a person’s testimony about your product or service even if you have the best of intentions. In addition, if you fail to obtain the written permission from the person providing the testimonial, then you could risk disclosing personal information about the person’s tastes or preferences in violation of privacy laws. Finally, SEC registered investment advisers are strictly prohibited from using client testimonials in their marketing materials as prescribed by specific SEC rules under the Investment Advisers Act of 1940, as amended. These rules would apply to investment advisers offering limited partnership interests or security tokens to investors.

In the SEC’s press release on Titanium, it reiterated warnings to ICO investors about the importance of conducting due diligence on ICOs and their principals and how a fraudulent ICO issuer can deceive investors using social media outlets. Note the following quotes from Robert Cohen of the SEC:

“This ICO was based on a social media marketing blitz that allegedly deceived investors with purely fictional claims of business prospects,” said Robert A. Cohen, Chief of the SEC Enforcement Division’s Cyber Unit. “Having filed multiple cases involving allegedly fraudulent ICOs, we again encourage investors to be especially cautious when considering these as investments.”

Lessons Learned: Issuers should only publish truthful representations in their marketing material, especially if they blast out their representations using social media. Issuers should also confirm, with securities counsel, the ability to market to the general public and the placement of proper risk disclaimers in their marketing material, prior to starting a marketing campaign, since some offering laws preclude an issuer from advertising the sale of securities to the general public. Avoiding testimonials and sales puffery can also help mitigate claims of offering fraud and violations of federal and state antifraud laws. Using industry logos without permission or promoting yourself as an expert without any actual certificates or degrees to support your claims will also attract negative regulatory scrutiny and will be viewed as unprofessional by prospective institutional investors. Finally, issuers must carefully consider the Howey Test when analyzing their offerings. The SEC also sued Titanium for not registering their offering or relying on a valid offering exemption. In the complaint against Titanium, the SEC requested the following sanctions: preliminary and permanent injunctions; return of allegedly ill-gotten gains plus interest and penalties; and a bar against the principal of Titanium to prohibit him from participating in offering digital securities in the future. If you have any questions, please call Dan Viola at 212–573–8038.