ConsenSys to Bring Blockchain to Xiongan

Xiongan New Area is much like the Silicon Valley in United States
25 July 2018   928

The authorities of Xiongan, a Chinese analogue of the Silicon Valley, turned to the Ethereum-startup ConsenSys with the request to help with the use of a detachment in the city infrastructure. It is reported by South China Morning Post.

As one of our first major projects in the People’s Republic of China, we are excited to help define the many ‘use cases’ that could benefit from the trust infrastructure enabled by ethereum technology.
 

Joseph Lubin

Founder, ConsenSys

The parties signed a memorandum of intent in Beijing.

ConsenSys became the first foreign company to be connected to the construction of the "city of the future". Previously, the authorities of Xiongang enlisted the support of local blockchain start-ups, including Tencent, Ant Financial and Qihoo 360.

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   277

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.