FINMA investigations of Envion (EVN) good or bad for investors?
For any of you following the Envion saga, new news came out today about the future of the company. I can’t figure out whether this is bad news or good news because it could be interpreted both way I guess. The glass half full crowd thinks that FINMA investigation is positive because it will force the hand of the CEO to be more transparent so that investors are mostly protected for now. FINMA seems similar to the SEC in the United States and they are officially questioning if this is even a legal ICO according to the law. It might not be and if it’s not, the money raised from the ICO is on lockdown in Frick bank due to a judicial injunction. If the ICO is deemed illegal it would seem that investors would have to get some of their money back according to how many tokens they hold. 100m can’t just evaporate right?
The glass half empty thought process is that the fact FINMA is involved at all can not be a good thing and this could get dragged out for months or even years before it is settled. The ending could take as long as Mt. Gox and the forced sale of BTC by the trustees. In this case we most likely get our money back but who knows if it’s in cash or in ETH or BTC which is how 90% of the investors funded the ICO. Some people like me have increased their position of tokens gambling on a positive verdict that will allow the project to continue. This could actually work very well for me or very bad against me depending on the court rulings.
Either way....I am pot committed at this point and I’m not selling. The market is not liquid enough for me to dump my position anyway and the upside is enormous if I’m right. I guess that’s just the risk you take gambling on an ICO, Envion sure is one heck of an idea and one that could have been very successful if things didn’t get sideways. The good News is FINMA is very pro Cryptocurrency and all about protecting investors from fraud and deceit. The press realease is below if you wanna check it out.
ICO is a big team . BTC is the big coin market in the world . It's reputation is high . I am so gkad of that for your news .
Thanks for sharing @broncnutz
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It is. Not a good news at all I had bought ome EVN
I don't know much about this one but I wish you being on the winning side with it. Just don't slip up trying to catch a falling knife brother.
It is unfortunate to see this continue to drag out. This is such a great project with a lot of potential and it has been mired in negative publicity for a long time now. I can’t see buying in as a new investor right now but if I was already in as you are then I would be hodl’ing. If they can get this sorted out then the project could be big. Fingers crossed my friend.
Hope it works out... at least you will get an answer sooner than later with the investigation.
I have heard of this one but haven't jumped in on it. These last few months I've been rebalancing the investments.
Sometimes you gotta go all in on black :)
Thanks for taking the time to share this, I'm also an investor in EVN. Its disgusting that this group of people have been allowed to do this to so many people over so many years. MW reputation will be destroyed after this. The real question is.... will he or anyone go to jail? If not they will continue doing this to other unsuspecting investors.
My Ethereum paid EVN are in my Ether wallet as a token balance. I guess their site states they are locked but I have possession of them. The EVN I paid for with credit card have a "Tokens" icon next to it in Green, not the orange with "Locked". We'll have to wait and see what's going on there. And on the point with the subscription. I kept original documentation, it states for as long as you hold the token you compound dividend returns. It makes no sense to state a time period since I could sell or purchase new EVN tokens in the future.
Great for investors. ICO is a nice team. And we see that btc is going to high and also byc is a bigest coin. Thanks for sharr this good one.