SEC Sues Dragonchain for $16 5 Million Dragon Token ICO


It’s important to note that the dragon chain crypto on the BitcoinWisdom website shouldn’t be considered investment advice. Investing is speculative and when you invest money, your entire capital is at risk. You should do your own research before investing in any company or product. Always remember that investment decisions are risky and you should never invest more than you can afford to lose. I also work as a professional trader, and I have experience with stock trading and bitcoin trading.


We may, but are not obligated to, update any outdated, incomplete, or inaccurate information. That his company had been in negotiations to conduct an ICO through Dragonchain in late 2017. But, based on guidance from his legal counsel, he was told to limit the offering to accredited investors in order to remain in compliance with securities laws. Nevertheless, Joe Roets was voracious when it came to fundraising, pushing companies to raise money through Dragonchain while the market was still hot, said Brandon Kite, the former software development lead at Dragonchain. “But there’s no way anybody could use Dragonchain for that stuff legally, that’s why they don’t have any customers,” Kite said. Two former executives at the company have gone as far as to say that Roets and two other employees were directly subpoenaed by the SEC in 2019.

Dragonchain Social Profiles

The SEC says DRGN, Dragonchain’s native token, was marketed to crypto investors, touting the token’s investment value, pricing, and „listing“ on trading platforms. Founded in 2013, Bitcoin Wisdom strives to provide informative and accurate bitcoin news, price predictions, investing guides and exchange reviews. The study mentioned above makes it evident that Dragonchain’s estimates are rather incoherent. Regarding upcoming favorable or negative price moves for DRGN, there is no general agreement.

Very Bullish-Rated Dragonchain (DRGN) Rises Saturday to $0.01539383298 – InvestorsObserver

Very Bullish-Rated Dragonchain (DRGN) Rises Saturday to $0.01539383298.

Posted: Sat, 18 Feb 2023 23:03:54 GMT [source]

In the future we hope to have processes set to accommodate all incubator projects approved by vetting standards and chosen by the Dragonchain community. Dragonchain also stands out for its ability to support more than one currency on a single chain and the fact that you don’t even need to use currency. The architecture itself supports controlled exposure of smart contract logic and sensitive business data. The server-less nature of the commercial platform allows for powerful yet simple scaling. Dragonchain simplifies the integration of real business applications onto a blockchain and provides features such as easy integration, protection of business data and operations, currency agnosticism, and multi-currency support. The Dragonchain Foundation, a Non-Profit Corporation was created in January of 2017 to maintain ownership and responsibility of the open source code.

Dragonchain (DRGN) Price Prediction 2030

Things happen quickly and impulsively in the cryptocurrency space, but accountability moves slowly and deliberately. What seems like ancient history to crypto natives is still fresh in the minds of regulators, authorities, and law enforcement, and the SEC’s actions against Dragonchain years after the fact demonstrate that its memory is long and its patience abundant. Dragonchain was one of many companies swept up in the mania of 2017.

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If you have the technical know-how to run a node, you will earn dragon chain cryptoitional income in the form of ‘TIME’ tokens. You earn 1 TIME for every DRGN token you have in a non-exchange wallet per day of running a node. Those less experienced with blockchain tech can join a community-pooled node to take advantage of the rewards system. Dragonchain is unique in the way it runs and develops applications on the network. The protocol contains five different layers – the first of which used exclusively by Dragonchain.


“Joe Roets is litigious, to say the least,” said one former employee. More than two employees involved with the company said that Joe Roets initiated “frivolous lawsuits” against them after they left. When she refused, Dragonchain fired her and withheld her wages along with Dragon tokens she was supposed to receive for the work she conducted, according to Chan. Dragonchain’s non-profit purchased a penthouse worth $2.2 million atop the Bellevue Pacific Tower to entertain clients and investors.

DRGN Price Live Data

For instance, the Centricity organization, which serves as a chain management link for tens of thousands of farms, offers the authentication capabilities to its users through the Dragon Factor identification service. To generate money to fight malaria, the charity and contributions management firm M2030 uses Dragonchain services. In addition, Dragonchain created a learning management system called the Dragonchain Academy. In addition to these use cases, the business also developed a number of other services that were put to use while the platform was being tested.

Distribution of the Dragons took place following the public sale and a minimum of one internal and one independent external audit. The agency alleges Dragonchain’s founder raised millions in unregistered crypto asset securities offerings in 2017. Initially, a total of 433,494,437 Dragons are created and distributed between 2 October and 2 November 2017.

The Dragonchain team is now in the process of launching a commercial entity to build a serverless architecture blockchain platform, and an incubator. The combination of serverless and blockchain technologies is unique and tremendously valuable. The timing of the Dragonchain platform launch is highly strategic to benefit from explosive growth of cloud computing over the last few years and the emerging wave of Blockchain solutions entering proof of concept stage across enterprises.

What blockchain is Disney using?

In July 2022, Disney made a huge announcement where it invited Polygon, a layer two blockchain to its annual Accelerator program, which is a business development program designed to accelerate the growth of innovative companies from around the world.

Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies. You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial GALA professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities. This guide provides step-by-step instructions on how to buy Curve DAO, lists some exchanges where you can get it and provides daily price data on CRV.

  • On easier-to-use exchanges, this is as simple as entering the amount you want to purchase and clicking buy.
  • You can now send your Ether over to Kucoin to make your purchase of DRGN.
  • They are presented to you on an “as is” basis and for informational purposes only, without representation or warranty of any kind.
  • They attempted to track down these transactions, and when they pressed the issue, the former controller said they were fired.

DRGN price data is regularly updated through data feeds so you always have the latest information. Joe pointed out, „we look at how we can leverage the capabilities of other blockchains and their ecosystems.“ You can now send your Ether over to Kucoin to make your purchase of DRGN. Basically, any use case that may involve incentivization of human activity .

Dragonchain announced the official introduction of a social media platform that incentivizes users for the creation and evaluation of quality content. The percent change in trading volume for this asset compared to 24 hours ago. The percent change in trading volume for this asset compared to 1 hour ago.

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