DEALS & CASES

SEUM Advises Cube Intelligence on ICO

SEUM recently advised Cube Intelligence (“CUBE”) with respect to its Initial Coin Offering (“ICO”) of 43.2 million tokens (representing 60% of all tokens issued). The public sale for the CUBE tokens (ticker symbol AUTO), which were also offered for sale by reservation and pre-sale, successfully closed within 24 hours of its launch. The tokens were listed shortly after the completion of the ICO on OKEx, one of the world’s largest cryptocurrency exchanges, and on HitBTC, an exchange located in Hong Kong. CUBE, which is incorporated in the UK and has operations in Korea, is utilizing blockchain, AI and quantum hash technology to build a platform where the CUBE tokens can be used to protect the network security of existing automobiles and the self-driving cars of tomorrow.

SEUM advised CUBE on various aspects of its ICO including review of its whitepaper, securities law analysis under Korean law and marketing and sales advice. The SEUM team included partners Hoseok Jung and Steve Ahn, and associates Hyunsub Lee, Egyul Kim and Daniel Chong.