Floyd Mayweather-Backed ICO Responds to Lawsuit: 'Investors Have No Ownership Rights' (No. 124)

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White Paper Summary
Floyd Mayweather-Backed ICO Responds to Lawsuit: 'Investors Have No Ownership Rights'

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Automatic Claim Number - cla1550183580

Quote - Definition It is yet unclear how this activity is treated from a regulatory viewpoint. In the past, certain prediction markets were treated as financial activities as they predicted financial instruments and the regulator treated it as futures trading. It is clear that financial predictions will continue to be monitored by financial regulators, however it is not certain how other predictions such as political events, product releases etc will be governed, especially in a decentralized world and whether such activity will be captured by online gaming regulations. Stox is committed to following all required regulations.

Claim - Readers are mislead by the above text to believe that a regulatory crackdown on gambling sites would simply be a 'challenge', when in fact it could render investors' shares worthless. There is no contingency plan in the whitepaper for what the company will do if regulators deem Stox to be a gambling site. And there is no contingency in the whitepaper for financial regulators stepping in regarding the site's financial 'predictions'. Failing to thoroughly address the strong likelihood of catastrophic regulation in the U.S. and elsewhere is bad faith. Here is a link to a January 2017 article that demonstrates that regulation or banning of gambling sites is very likely: https://bit.ly/2S3FfSU This entire enterprise has a reasonable likelihood of being completely banned.

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onderI1sonderI1s Reputation: 0
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This is not true.Investors have all the rights in this case because they have invested their shares in the company.They are entitled to ownership of the company.

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Automatic Claim Number - cla1550271081

Quote - Like any other exchange prediction platform, Stox utilizes the relevant event in the form of a stock where participants can trade on the outcome of the event.

Claim - The whitepaper describes the Stox platform in the present tense, conveying that it is fully operational with participants.

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Automatic Claim Number - cla1550271192

Quote - Like any other exchange prediction platform, Stox utilizes the relevant event in the form of a stock where participants can trade on the outcome of the event.

Claim - An event cannot be a stock. Stocks constitute ownership rights and trades are closely regulated. You can’t just create a trading unit and call it a stock, without any compliance to regulations. The trades on this platform would actually be bets, and the trading (betting) units are nowhere close to being definable as a stock.

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Opinion #: An opinion has been issued in .

It was decided to release 0% of the funds. The jury voted in their opinion to release an average of 0% of the bounty and a median of % of the bounty.

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    78d287ff69c82e6b642d047062289180
    karlkarl Reputation: 0
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    Thank you all for participating in a jury. If you are selected as a jury member pls evaluate only the claim on hand and not the paper as a whole. This of course does not mean that you can't consider the whole paper to put the claim in the right context. For now it was ruled on two claims.

    64117edf069ab9060fe4cfe015efeffd
    THE JUDGE!!!!!!THE JUDGE!!!!!! Reputation: 0
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    Opinion #: An opinion has been issued in .

    It was decided to release 0% of the funds. The jury voted in their opinion to release an average of 0% of the bounty and a median of % of the bounty.

    Please see below for the opinion of the jury:

      Claim:

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      3a95cc87a435fba25a01f3a25c873f95
      karlkarl Reputation: 0
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      In opinion #9 we see that the bounty hunter is awarded 1% which is $37.50

      4dcdbc98043c9fdb5928f3f7113730aa
      seedbountyhunter15seedbountyhunter15 Reputation: 0
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      This is a good teaching example. Please feel free to file additional claims. You can learn and get some $$. This said we do not say that the idea behind stox is bad.

      2688e8f8d585eb80c357232cc639f635
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      I think I just got the first bounty ever on this site. I'm honored.

      7592bb813b380d14ad4cf7599e9eb450
      seedbountyhunter15seedbountyhunter15 Reputation: 0
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      Pls don't reveal if you have been on a jury or currently are on a jury. Not a biggy for now. But we are concerned to keep the voting process fair and independent. Jury members are randomly selected.

      cb6a94589121602bcbdcc95d4c291b4d
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      Opinion #: An opinion has been issued in .

      It was decided to release 0% of the funds. The jury voted in their opinion to release an average of 0% of the bounty and a median of % of the bounty.

      Please see below for the opinion of the jury:

        Claim:

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        538e0afa0aedbf2c250e3288feb16212
        onderI1sonderI1s Reputation: 0
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        Automatic Claim Number - cla1550736930

        Quote - The company’s ICO reportedly raised $34 million back in August of 2017, partlythanks to Mayweather’s promotion. Per the plaintiff, Hogeg only invested $5 millionout of the total raised in Stox itself. In addition, he claimed the entrepreneur sold histokens before the earliest date he said he would do so, which devalued the tokens

        Claim - This show investors had the rights for ownership of the company because they had invested their shares.

        feed0acf772d3efa0c0e7e449863c2fa
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        So I just got 17% of $3750?!? YES!! Can somebody from chainblx email me? My Coinbase wallet is not up yet.

        0903d001b46096214c196333327def82
        THE JUDGE!!!!!!THE JUDGE!!!!!! Reputation: 0
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        Opinion #: An opinion has been issued in .

        It was decided to release 0% of the funds. The jury voted in their opinion to release an average of 0% of the bounty and a median of % of the bounty.

        Please see below for the opinion of the jury:

          Claim:

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          0b044ad39049a8dce67f8c1acaad9611
          MathildeMMMathildeMM Reputation: 0
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          Automatic Claim Number - cla1551458560

          Quote - The Stox TokenThe Stox ecosystem is based on an open source cryptographic token named STX (the Stox Token). Like other similar cryptocurrencies, STX is fractionally divisible, transferable and fungiblePurpose and usage

          Claim - In the white paper the "purpose and usage" of this token are well-details. It clear that "users" (and not investors) would buy token in order to enjoy the services provided by the plateform. Making this token falling under the "utility token" categories as opposed to "security token". It is also stated in the T&Cs in their website (https://www.stox.com/terms-and-conditions/ - "STX is offered as a utility token only and is not offered for speculative purposes"). According to regulation in EU/Gibraltar (where the company is settled) utility tokens "are currently not covered by financial regulation." (source: https://www.esma.europa.eu/sites/default/files/library/esma22-106-1338_smsg_advice_-_report_on_icos_and_crypto-assets.pdf).Therefore the T&Cs and the present white paper would be the only legal framework for those tokens. In the same paragraph of the quoted text above, the ESMA suggests that a utilty TRANSFERABLE token should be regulated by the Markets in Financial Instruments Directive (european financal market regulator) but as of now, it isn't.

          52545c207be65c74b5b5865947a92eaa
          THE JUDGE!!!!!!THE JUDGE!!!!!! Reputation: 0
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          Opinion #: An opinion has been issued in .

          It was decided to release 0% of the funds. The jury voted in their opinion to release an average of 0% of the bounty and a median of % of the bounty.

          Please see below for the opinion of the jury:

            Claim:

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            d59d122c25f5438b95b4402100fc2690
            jonwalkerjonwalker Reputation: 0
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            I was just wondering if you can make claims based on information that has come to light since the whitepaper was published. In other words, if they say one thing in the whitepaper, but end up doing it differently later on. In the context of the whitepaper, the statement isn't necessarily false, but it turns out to be later through their actions.

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