Cboe Exchange to Lower Bitcoin Futures Prices

The Cboe announced it intends to change the way it defines the price for bitcoin futures contracts
24 April 2018   610

The Cboe intends to change the way it defines the price for bitcoin futures contracts, a move that comes just months after the exchange operator first debuted its inaugural cryptocurrency product.

CFE believes that the impact of the amendment will be beneficial to the public and market participants.

 

Matthew McFarland

Managing director, CBOE Future Exchange (CFE)

In a new letter to the Commodity Futures Trading Commission (CFTC) dated April 17, CBOE Future Exchange (CFE) managing director Matthew McFarland announced a proposed rule amendment that would lower the minimum increment on its futures contracts from 10 points (worth $10) to 5 points (worth $5) sometime on or after May 1. 

The amendment would apply to single leg transactions, meaning those involving only one contract, and not spread trades, which require an investor to buy and sell two different contracts simultaneously. According to the letter, spread trades currently have a minimum increment of 0.01 points ($0.01).

The decision to make this change was supported by data the company collected since its futures contracts launched in December, McFarland said. He also added that CFE intends to continue to evaluate its experience with the trading in XBT futures and may determine to make future changes relating to XBT futures in light of that experience.

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   346

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.