Barclays Won't Trade Crypto, CEO Says

Jes Staley says the bank has no plans to set up a dedicated unit for cryptotrading
02 May 2018   636

The head of the British multinational investment bank Barclays said that his organization does not intend to open its own subdivision for trading crypto-currencies in the foreseeable future. The announcement was made during the annual general meeting of the bank. This is reported by Financial News London.

Jes Staley said that there were no plans in this direction. He acknowledged that the bank really investigated the effect cryptocurrency on the current state of the financial sector, but is skeptical about the technology because of its regulatory issues.

Rumors that Barclays could start cryptotrading operations arose in mid-April. As noted by NewsBTC, at the same time unknown insiders reported that the unit can be opened jointly with Goldman Sachs - another major financial institution whose ambiguous position with respect to crypto-currencies has repeatedly become the basis for various kinds of rumors and conjectures.

Later, information appeared that the bank was polling its customers to find out how interesting they could be digital assets. In response to a request from CoinDesk, a spokesman for Barclays said that the company does not plan to open a crypto-currency unit at the moment, but is following new developments in the field of financil technologies, which was confirmed by mister Staley today.

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   223

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.