Arrington XRP to Raise $100M & Acquire ByteSize

Arrington XRP Capital and TechCrunch founder hopes that the acquisition of the fund will allow his firm to improve its strategy in a bear market.
28 March 2019   446

Arrington XRP Capital Hedge Fund raised over $ 100 million at the end of a round of financing and acquired the Australian research consortium and private crypto-fund ByteSize Capital. It is reported by CoinDesk.

Arrington XRP Capital founder Michael Arrington hopes that the acquisition of the fund will allow his firm to improve its strategy in a bear market.

The reason is, like everyone, we didn’t do particularly great last year, but we did better than the market. And that was a win. We are seeing a new market. It’s not 2017. It’s not 2018. Funds like ours will continue to find ways to make money in markets that are unpredictable. We are seeing a new market. It’s not 2017. It’s not 2018. Funds like ours will continue to find ways to make money in markets that are unpredictable.
 

Michael Arrington

Founder, Arrington XRP Capital

In January, Arrington XRP supported the Totle blockchain startup. 

SEC to Accuse Veritaseum ICO of Fraud

SEC believes that project's tokensale, thru which it raised $14.8M back in 2017-2018 had a signs of scam and company misled the investors
14 August 2019   182

The U.S. Securities and Exchange Commission (SEC) has sued New Yorker  and Veritaseum-related companies that have been caught by the agency in conducting an unregistered ICO with signs of fraud. It is reported by Cointelegraph.

According to documents published on the network, the SEC intends to hold Reggie Middleton accountable and immediately freeze the assets of Veritaseum Inc. and Veritaseum LLC.

The Commission claims that the defendants raised about $ 14.8 million through an initial coin offering (ICO) in 2017 - early 2018. At the same time, many investors were misled, as the company distorted information about the conditions of the token sale and deliberately hid some significant details.

The American regulator claims that the project still has about $ 8 million of illegally raised funds. According to the SEC, these assets must be frozen immediately.

Amid this news, the Veritaseum (VERI) rate has fallen by 70%. Now the coin is trading near the $ 5 mark, although at the beginning of 2018 its rate was approaching $ 500.

Veritaseum was created as a financial p2p platform, involving the movement of capital without traditional intermediaries. Also, VERI was positioned as a utility token for use in consulting services and access to various research works.

In 2017, Veritaseum blockchain startup fell victim to hackers, having lost $ 8.4 million from ICO investors.