Brand Ambassador Steven Seagal and unnamed Founders of cryptocurrency investment company Bitcoiin B2G (Bitcoiin2Gen) have exited after the controversial initial coin offering (ICO) period ended for the B2G token.
Bitcoiin said it would now function within its ecosystem and become a genuinely anonymous cryptocurrency with no individual or individuals having control over the entity.
It will join the likes of the original Bitcoin and become an open source as it goes through the conversion phase from token to mineable coin. Following the conversion, the founders will appoint a member or members of the community to become the legal owners of the website bitcoiin.com.
Bitcoiin was reported to have offered "investments to the general public in its Bitcoiin ICO and 'Bitcoiin Staking Program' through a website that "projects that each B2G will be worth $388 by December 2018."
However, Bitcoiin now clarifies on "misinformation" being spread by the media saying, "we are stating unequivocally for the last time before the blockchain goes live that neither STAKING nor REFERRALS will exist in the blockchain or the Bitcoiin ecosystem."
Securities regulators from two states, New Jersey and Tennessee, had warned their consumers against investing in the Bitcoiin ICO, which is alleged to have promoted the sale of unregistered securities.
The New Jersey Bureau of Securities had on March 7 even issued a cease-and-desist order to an ICO by Bitcoiin, alleging it was engaging in fraud in connection with the offer for sale of securities.
Bitcoiin had earlier announced it would be conducting an ICO of its cryptocurrency B2G starting on March 26, with a pre-ICO period of sixty days.
For comments and feedback contact: editorial@rttnews.com
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.