East Coast accelerator brings program to Los Angeles; cryptocurrency company aims to reduce ICO fraud; Elon Musk’s tunnels approved in Hawthorne

Cryptocurrency company aims to reduce ICO fraud

Santa Monica-headquartered ICO Watchdog released new tools to help cryptocurrency investors audit initial coin offerings (ICOs), SoCal Tech reports. The system allows creators to submit their crypto designs and source code for review by experts, in addition to providing users with rewards for identifying and reporting ICO fraud.

East Coast Accelerator Brings Program to Los Angeles

New York-based startup accelerator Quake Capital launched its first program in Los Angeles, with a class comprised of 16 companies. The program began on June 5 and will run for 12 weeks. Quake said five of the featured companies are founded by women, and five are headquartered abroad. Each company in the class received a $150,000 investment upon acceptance into the program, according to Quake.

Elon Musk’s Tunnels Approved in Hawthorne

Hawthorne City Council voted 4-1 to approve Elon Musk’s two-mile test tunnel for electric vehicles, the Los Angeles Daily News reports. The tunnel is part of Musk’s Boring Co. venture, which has already built a 160-foot test tunnel underneath SpaceX property.