More and more questionable cryptocurrency change, LAToken, is at present itemizing an IEO purportedly run by Elon Musk for SpaceX. Though this might be many a tech-fan’s dream, nearer inspection reveals that that is utterly false.

No, Elon Musk Is Not Launching A SpaceX IEO

The offending Preliminary Trade Providing was highlighted in a tweet by Cointelligence CEO, On Yavin. On LAToken’s IEO Launchpad, the related web page options an embedded YouTube video of the SpaceX Falcon Heavy, together with additional particulars of the IEO.

In response to @latokens change it appears Elon Musk is doing an IEO?!https://t.co/KCdEOVMMlj pic.twitter.com/xZ9pWkFu4r

— On Yavin (@on_yavin) October 30, 2019

The underlying asset is valued at $36 billion, key buyers of SpaceX are listed, together with the SpaceX administration workforce. Elon Musk is listed as founder, lead designer, CTO, and CEO. On the backside of the web page, the SpaceX Twitter feed is embedded.

Which might be nice, if SpaceX had been concerned with the launch of this IEO… however they’re not.

In a non-public interview with Bitcoinist, On Yavin added,

It’s extremely unlikely that Elon musk allowed LAToken to make use of his identify, firm and repute to fraudulently promote the USPX IEO. That is utterly deceptive, and so long as now we have these type of scammy exchanges, the trade will be unable to progress.

Disingenuous, To Say The Least

The USPX token is definitely being launched by Unicorn Equities, who’s administration workforce, asset worth, and buyers aren’t included. Unicorn Equities plan to accumulate an undisclosed variety of SpaceX shares with the funds raised, which is able to then kind the fairness. SpaceX shares aren’t publicly traded, so it’s onerous for most people to accumulate them.

The web page is clearly designed to make potential shoppers suppose that this IEO is SpaceX sanctioned, and Elon Musk managed. While there isn’t any suggestion that LAToken equipped this info, it’s on the very least, extremely unprofessional for the change to not vet the knowledge supplied by shoppers.

LAToken has confronted criticism prior to now, being accused of every little thing from carelessness to outright fraud. Cointelligence charges the change at a not-at-all spectacular, 3.88, scoring it a lowly 1.zero for ‘belief’.

Elon Musk has lengthy proven an curiosity in cryptocurrency, and was even voted in as CEO of DogeCoin with out his data. Nevertheless, he isn’t at present recognized to have made a direct funding within the house.

What do you make of this deceptive LAToken IEO? Add your ideas within the remark part beneath

Pictures by way of CNBC, Twitter @on_yavin