Crypto Crusader John McAfee Calls It Quits on Initial Coin Offerings Due to “SEC Threats”..but
Business mogul and computer programmer turned crypto fanatic, John McAfee has always been vocal about cryptocurrencies, regulators trying to “prolong its growth”, ICOs and many related topics.
However, McAfee took to Twitter on June 19, 2018 to express the end of his associations with ICOs and how he will no longer suggest them through his social media platform. This decision appears to come after the US Securities Exchange and Commissions’ (SEC) ongoing efforts to classify ICOs as securities.
Here is a look at McAfee’s tweet:
Due to SEC threats, I am no longer working with ICOs nor am I recommending them, and those doing ICOs can all look forward to arrest. It is unjust but it is reality. I am writing an article on an equivalent alternative to ICOs which the SEC cannot touch. Please have Patience.
— John McAfee (@officialmcafee) June 19, 2018
McAfee has been exaggerative and bold in his previous statements that one could never imagine. Regardless, many still vouch by his knowledge, as he has over 820,000 followers on Twitter alone. McAfee’s followers seem to have taken the news lightly, as some still continued asking opinions about ICOs, while the remaining suggested other potential matters to discuss.
Individuals like McAfee have been successful in using their platforms to promote blockchain-based projects, which has contributed to their billions of funds raised. McAfee also opened up about the fees he charges for promoting ICOs, which Bloomberg stated as being $105,000 per tweet.
Ever since SEC have been referring to ICOs as securities and how they should have been registered prior to publicly announcing their projects, many individuals, namely celebrities, have been careful, as supporting a project that has not been registered is considered going against the law.
Some of his followers are contributing this tweet of John's to one of the many reasons the SEC might have reached out to John McAfee:
The SEC chairman is Jay Clayton. He can be reached by phone at 202-551-2100 or by email at [email protected]
Flood this mother fucker's voice mail and inbox with demands that he debate me. CNN is ready! Show this prick what the crypto community is all about!
— John McAfee (@officialmcafee) June 7, 2018
This was one of the tweets John McAfee challenged SEC Chairman to a live CNN debate about cryptocurrencies as securities but it seems the message was heard, however the debate might not happen as these ‘threats' were sent to Mr. McAfee to stop touting coins and tokens.
However, rest assured this will not stop the Crypto Crusader from being one of the industry's most vocal leaders as he continues to cheer on the crypto world as the pioneering of a new financial frontier and future is still dawning upon us:
The mathematical perfection of Crypto; pic.twitter.com/tamhrfzXVc
— John McAfee (@officialmcafee) June 16, 2018
One thing we know for sure, McAfee will not back down from a challenge – even declaring his 2020 Presidential run to help bring crypto mainstream as one of his campaigns core focal points. While he thinks the SEC has ‘absurd overreach' – for now he will ‘submit to the law' and plans to keep it kosher – we know John McAfee will fight for the freedom of cryptocurrencies with every last breathe he takes.
So while the SEC might have won this battle, they have not won the war. Mr. McAfee is relentless, he believes in the cryptocurrency cause and will continue to use his influence to help fight the good fight.
As a final word to John, know your crypto charisma and charm in the space will not be silenced. Continue letting your intelligence and insight shine as anyone in the game of virtual currencies is glad to have you on our side as we continue to pioneer and engineer a new future of financial freedom and independency.