Latest digital currency project Bitcoiin2Gen has announced that its founders and even their Ambassador Steven Seagal will now leave the organization since they have completed the Initial Coin Offering. The development team expressed their appreciation to all those who contributed, the founders and Steven Seagal who is an actor. In the statement, they stated that the move was to ensure that the cryptocurrency remains completely anonymous.
According to the statement: “Bitcoiin is now going through its conversion phase from an ICO to a mineable coin. We are very sure that Bitcoiin will be similar to the original Bitcoin in being an open source. We, therefore, thank the founders and the brand Ambassador and will them all the best. From now on the new crypto Bitcoiin will operate from its ecosystem to become a fully anonymous digital currency with no one having control over its entity.”
During the time when Seagal was joining the project, there were allegations that the project was a pyramid scheme. The project responded indicating the project would only become operational during the ICO. The involvement of the actor was highly criticized.
The project went on to release a statement stating that the commission structure was just part of the ICO period and also a reward for the clients who promoted the project. The statement was misunderstood, and many people branded the project as a pyramid scheme. However, now after the conversion into mineable coins, the founders will appoint community members to become legal owners of the website bitcoiin.com.
This has come a few days after the Tennessee Department of Commerce and Insurance on the Securities Division warned consumers about Bitcoiin2Gen saying that actions will be taken by the State of New Jersey against the founding company. Steven Seagal on his part has not talked about his collaboration with Bitcoiin. He only announced his involvement in January despite a warning from the US Securities and Exchange Commission announcing that ICOs which will be promoted by celebrities will become illegal.
The Initial Coin Offer (ICO) of Bitcoiin2Gen was launched in January. The ICO was targeting $75 million soft caps. After the completion of the ICO, the Bitcoiin team did not announce how much they collected. They only stated that they had achieved their goal when the ICO ended.