• Advertise
  • Submit a Press Release
  • Contact Us
Blockchain & Cryptocurrencies Tabloid
  • Finance & Blockchain News
  • Bitcoin News
    Tom Lee Reports Most Investors Lack Bitcoin Exposure

    Tom Lee Reports Most Investors Lack Bitcoin Exposure

    LuBian Wallet's $1.3B BTC Transfer

    LuBian Wallet Moves $1.3B in Bitcoin Post DOJ Action

    Bitcoin Whale Closes $500M Short Positions on Hyperliquid

    Bitcoin Whale Closes $500M Short Positions on Hyperliquid

    US DOJ to Seize 127,271 Bitcoin from Scam Network

    US DOJ to Seize 127,271 Bitcoin from Scam Network

    Bitcoin ETF Trading Volume Exceeds $1 Billion Rapidly

    Bitcoin ETF Trading Volume Exceeds $1 Billion Rapidly

    Farage Proposes Bitcoin Reserve and Tax Cuts in UK

    Farage Proposes Bitcoin Reserve and Tax Cuts in UK

  • Altcoin News
    • All
    • Bitcoin Cash
    • Cardano
    • EOS
    • Ethereum
    • Litecoin
    • Monero
    • Ripple
    • Stellar
    Pi Network Readies DEX Launch, Market Awaits Confirmation

    Pi Network Readies DEX Launch, Market Awaits Confirmation

    Ethereum Foundation Invests in Morpho's DeFi Protocol

    Ethereum Foundation Allocates 2,400 ETH to Morpho DeFi Platform

    Ethereum Foundation Deposits 2,400 ETH in Morpho Protocol

    Ethereum Foundation Deposits 2,400 ETH in Morpho Protocol

    Aptos and NBCUniversal Launch Blockchain-Based Rewards Platform

    Aptos Collaborates with NBCUniversal for New Web3 Platform

    Sui Targets $9.5 with SEC-Approved Yield Token Launch

    Sui Targets $9.5 with SEC-Approved Yield Token Launch

    Webus Integrates XRP for Tokenized Travel Rewards

    Webus Integrates XRP in New Reward Platform Initiative

    Trending Tags

    • Ethereum
    • Bitcoin Cash
    • Litecoin
    • Monero
    • Ripple
  • Crypto 101
    • All
    • Cryptocurrencies
    • Exchanges
    • Services
    • Wallets
    Benefits Of Choosing the Right AI Trading Bot

    4 Benefits Of Choosing the Right AI Trading Bot

    Crypto Trading

    A Beginner’s Guide to Crypto Trading: Unlocking the World of Digital Coins

    BitcoinGames.com

    BitcoinGames.com Introduces the Ultimate Casino Gaming Experience with Bitcoin

    How AI is Helping Athletes and Fans Get the Most out of the Game

    From Training to Judging, AI is Entering the Ring

    Top 5 Websites for Buying Gift Cards with Crypto

    Clutch Savours – Gift Certificates You Can Buy with Crypto

    Layer 2 Blockchains

    Everything You Need To Know About Layer 2 Blockchains

  • Blockchain Events
No Result
View All Result
Blockchain & Cryptocurrencies Tabloid
No Result
View All Result

Crypto Startup Gladius Ceases Operations Due to Lack of Funds

Tony P. by Tony P.
November 27, 2019
in Latest News
Gladius

Gladius Network, which had earlier in the year been charged by the U.S. Securities and Exchange Commission (SEC) for selling a security that was not duly registered, has announced that it is closing down the business.

The announcement, delivered by Gladius Co-Founder, Alex Godwin read:

“Despite our best efforts, the company no longer has funds to continue operations,” Alex further added, “the shutdown comes into effect immediately.”

Gladius Initial Coin Offering

In 2017, the cryptocurrency startup issued an initial coin offering (ICO) that saw it raise around $12.7 million, which was at the time equivalent to 24,000 ETH. At the beginning of 2019, the Securities and Exchange Commission noted that the ICO issued by the startup had not been duly registered as required by federal securities laws.

The two parties then reached a settlement. Gladius, as part of the settlement agreement, was required to issue refunds to stockholders who requested one. The startup was also asked to make sure that it registered its tokens as a security.

New Registration Date

According to company insiders, the startup was expected to formalize the securities exchange registration by November 18. Taking into account the fact that the company has just announced that it is shutting down, it’s not clear whether Gladius, the Washington-based company ever started the registration process. Various crypto blogs have reached out to the co-founder to provide any updates received from the cryptocurrency startup.

Gladius had created a decentralized P2P network that would see it rent out its spare storage and bandwidth space to clients looking to defend themselves against cyberattacks. With the closure of the company, it has sought to ensure that its code remains open on GitHub. It’s expected that this code will remain open for the next ninety days (3 months).

Asked why this was the case, Godwin stated that this was enough time to enable interested developers to continue to build on the code. He concluded by stating:

“We still believe in the power of our technology, and if anyone in the community is interested in pursuing, it we welcome it.”

Featured Image Source: Pixabay

Tags: Gladius NetworkICOsec
Previous Post

Number of Installed Crypto ATMs Surpass the 6,000 Mark

Next Post

Huobi China Among the First Members of State-backed Blockchain Alliance

Tony P.

Tony P.

Related Posts

Fed Governor Waller Discusses AI-Driven Productivity Gains

Fed Governor Waller Discusses AI-Driven Productivity Gains

by Solomon M.
October 16, 2025

Fed Governor Waller highlights AI's potential in boosting U.S. productivity at DC Fintech Week 2025.

Fed's Waller Advocates AI Disruption in Economic Growth

Fed’s Waller Advocates AI Disruption in Economic Growth

by Adriana M.
October 16, 2025

Fed Governor Waller emphasizes AI's potential long-term economic benefits, urging policymakers to embrace its disruptions.

Sony Applies for U.S. Crypto Banking Charter

Sony Applies for U.S. Crypto Banking Charter

by Joshua T.
October 16, 2025

Sony Bank's subsidiary seeks a U.S. crypto banking charter for stablecoin issuance and custody services.

ETHZilla Executes 1-for-10 Reverse Stock Split

ETHZilla Executes 1-for-10 Reverse Stock Split

by Solomon M.
October 15, 2025

ETHZilla Corp announces 1-for-10 reverse stock split to increase share price. No immediate impact on ETH or crypto markets.

Fed's Miran Advocates Rapid Rate Cuts Amid Trade Tensions

Fed’s Miran Advocates Rapid Rate Cuts Amid Trade Tensions

by Solomon M.
October 15, 2025

Fed Governor Stephen Miran calls for rapid interest rate cuts during U.S.-China trade tensions.

Erebor Bank Secures OCC Approval with Peter Thiel's Backing

Erebor Bank Secures OCC Approval with Peter Thiel’s Backing

by Joshua T.
October 15, 2025

Erebor Bank, backed by Peter Thiel, obtains OCC's preliminary approval for stablecoin operations.

  • Terms and Conditions
  • Privacy Policy
  • Advertise
  • About Us
  • Contact Us

© 2018-2019 theccpress.com by Brantell Media.

No Result
View All Result
  • Finance & Blockchain News
  • Bitcoin News
  • Altcoin News
  • Crypto 101
  • Blockchain Events

© 2018 - 2019 theccpress.com, a Brantell Media project.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.