John McAfee is done promoting ICO's - warns that anyone doing them can "look forward to arrests"...

Eccentric tech personality John McAfee announced on Twitter today that he's done promoting ICO's, stating:

"Due to SEC threats, I am no longer working with ICOs nor am I recommending them, and those doing ICOs can all look forward to arrest. It is unjust but it is reality. I am writing an article on an equivalent alternative to ICOs which the SEC cannot touch. Please have Patience."

McAfee also took heat from within the cryptocurrency world when he begin promoting a different coin every day on his Twitter, which he called his "coin of the day" tweets - joking referred to as "McAfee pump and dumps" in cryptocurrency forums and groups.  To his credit - the coins did actually pump following a Tweet.  It got so crazy at one point people had coded bots to immediately buy whatever coins were tweeted out from his account so they could cash in on the hype.

After a few days of backlash however, he changed this to a "coin of the week" and we started to see no change in prices following his endorsements, people seemingly just stopped caring.

No reason besides paranoia to think "anyone" doing ICO's will be arrested - the SEC has made their targets pretty clear, and legitimate ones have had no reason to worry.  No idea what his proposed "equivalent alternative" could be.

John McAfee is best known for creating the worlds first commercial antivirus software, but left the company he founded in 1994 and has since been involved in mobile apps, alternative medicine, and cryptocurrencies.
Author: Ross Davis
E-Mail: Twitter:@RossFM
San Francisco News Desk