CCN to Report on Shutting Down

CCN team was forced to close after great mobile traffic decline, which reduced by 71% soon after the June update of Google Core Update
11 June 2019   707

The well-known crypto related announced the closure after a significant reduction in the mobile traffic.

According to representatives of the news resource, the share of traffic from mobile devices declined by 71% soon after the June update of Google Core Update.

Google Report on CCN Traffic
Google Report on CCN Traffic

CCN was founded in the summer of 2013 as CryptoCoinsNews. We have been around for six years. We are (were?) the crypto-related news site with the highest amount of traffic worldwide. Although CoinDesk and Cointelegraph have been friendly competitors with us the past six years for the #1 Alexa spot.

CCN Team

The CCN team also noted that the June update had a negative impact on the traffic of the aforementioned CoinDesk and CoinTelegraph, the traffic of which decreased by more than 20%.

It should be noted that soon after the rebranding and the change of the name, CCN often published news that was indirectly related to the blockchain industry, for example, related to the global economy, politics, the US-China trade war, etc.

Now CCN intends to reorient its team of more than 60 people to work with the HVY journalistic platform.

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   213

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.