Crypto Market to Grow, Ex JPMorgan Banker Believes

Daniel Masters, who previously led JPMorgan’s global energy trading desk, says cryptocurrencies are fueling a global financial revolution
23 April 2018   396

Daniel Masters, who previously headed the JPMorgan department for energy trading, said that the cryptocurrencies lead to a financial revolution. This is reported by CCN.

Masters is the head of the investment digital bank Coinshares.

He said that distributed ledger technology ensures the democracy of transactions: "That’s at the core of what makes this a revolution" Masters said.

He also believes that cryptocurrencies are not a significant channel for "drainage" of resources from the traditional monetary system. At least for now.

Masters believes that a cryptocurrency ecosystem with a size of 1 to 10 billion dollars, is practically an experiment within the main financial system.

However, when cryptocurrency marked reaches a volume of about $ 1 trillion, it becomes something that central banks and authorities can not ignore.

I don’t think there’s any concern from that community at the moment that there’s leakage .. but I think they’re beginning to realize that there is potential for that in the future.

Daniel Masters

Former head, JPMorgan department for energy trading

Masters manages more than 800 million dollars in cryptocurrency assets in Bitcoin, Ethereum, Zcash and Monero. At the same time, Masters owns Bitcoin since 2012.

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   197

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.