ICO News: Swiss authorities look into $100M ICO

The Swiss Financial Market Supervisory Authority (FINMA) today (Thursday July 26) launched enforcement proceedings against Envion AG, a blockchain firm that raised $100 million via an ICO (initial coin offering) to further develop its ‘Mobile Mining Units’ project.

ICO News: Swiss authorities look into $100M ICO

FINMA announced the enforcement proceedings via a press release that was issued today; see below.

Press release

FINMA press release

The enforcement proceedings follow a flurry of bad press and inactivity for the high grossing ICO.

During recent months, various founders and executives within the firm have been frantically accusing each other of wrongdoing in what is becoming a farce of a token launch.

Indeed, the New York Times reported in May that the firm's chief executive, Matthias Woestmann, had claimed that the founders generated extra EVN tokens as part of a money grab.

The founders, on the other hand, claimed that Woestmann had seized control of the firm and breached his contract.

The website is still live and seems to be letting investors continue to buy ‘EVN’, the platform’s native currency.

About Envion AG

DISRUPTING ENERGY AND BLOCKCHAIN INDUSTRIES

Introducing the Future of Smart Decentralized Blockchain Infrastructure

Highly profitable, global crypto-mining-infrastructure - Hosted in mobile, modular CSC containers - Decentralized placement directly at energy source.

If you are interested in working with us, please have a look at our opportunities:

https://www.envion.org/en/jobs/  

Join our Telegram channel:

https://t.me/ENVION

Follow us on Medium:

https://medium.com/@envion

Follow us on Facebook:

https://www.facebook.com/envion.org/

Read about us on Bitcointalk.org:

https://bitcointalk.org/index.php?topic=2348435

  • Website: http://www.envion.org
  • Headquarters: Baar, Zug
  • Year founded: 2017
  • Company type: Public Company
  • Company size: 11-50 employees

What Envion says

Envion has developed a system of Mobile Mining Units (MMUs) that can tap electricity directly at the source: at hydro, solar, wind and fossil power plants in every corner of the planet.

Envion’s MMUs are based on standard intermodal (sea) containers, equipped with mining hardware, communication and industry 4.0 automation features, remote control capabilities and a break-through cooling system that only makes up ~1% of the system‘s total energy consumption.

Altogether it’s a high-tech solution that can be seamlessly deployed globally and allows us to use the cleanest and cheapest energy mix wherever it is available.

About Envion AG

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