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LAToken CEO defends its decision of listing SpaceX IEO: Admits it has nothing to do with Elon Musk

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LAToken’s decision of listing SpaceX IEO created a huge controversy when rumors spread that the members listed were unaware of the listing. Despite claiming that the managing team of the IEO belonged to SpaceX, it was speculated that SpaceX and Elon Musk were not involved with the token.

SpaceX IEO Offering has nothing to do with Elon Musk?

Now LAToken CEO has responded by saying that he appreciates companies that can drive such impactful innovation. CEO Valentin Preobrazhenskiy believes that the USPX token would serve to unite people in exploring the space. The united effort could explore space to hedge danger from an “asteroid type of disaster.”

He also believes that this would increase the exposure of blockchain while introducing liquidity to sectors that were previously out of reach for most investors. It would also test the business model as well as the legal structure required to provide “worldwide liquidity.”

The token issuer, Unicorn Tokenization Corp has claimed that the assets are backed by SpaceX shares. The issuer is managed by Threesixty Elements S.A that is registered with the SEC. The issuer has stated that ten USPX tokens are backed by one SpaceX share and thus they will track its value.

Regardless, Valentin chose not to address the bigger issue here. The company’s launchpad page suggested that Elon Musk and SpaceX team were connected with the SpaceX IEO. Elon Musk along with his team was mentioned in the section about the underlying asset which could possibly mislead investors.

Instead, Valentin included a notice telling users that SpaceX nor Elon Musk are involved with the SpaceX IEO offerings.

Ahmad Asghar

Ahmad Asghar

A first generation gamer at heart and tech buff by nature, have been involved in the tech sector for better part of a decade. With that insight and knowledge, he now covers blockchain, cryptocurrency and everything fintech so others can make sense of the industry.

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