DMM will launch Bitcoin farm and pool

Japan’s Entertainment Giant and operator of e-commerce website with 27 million members will operate a large-scale cryptocurrency mining farm
09 September 2017   1992

The giant of e-commerce DMM Group reported on plans to build a large mining farm. This is reported by Bitcoin Com.

DMM believes that the new business unit will be one of the largest mining farms in the world. Preparatory work for the launch of the farm will begin in October, and full-fledged work of DMM Pool will begin next year.

“DMM Mining Farm” will operate a mass-scale, made-in-Japan quality, mining farm whose operating size will be unmatched by any of the domestic operators. In the future, DMM plans operation that ranks in top three of the world’s mining farm companies in terms of scale. After completion of successful trials in October 2017, “DMM POOL” will be released for world-wide use within the year 2017. During the year 2018, DMM will be one of the 10 largest mining farms in the world.
 

DMM Team

Among other things, the new division of DMM plans to provide a wide range of users of cloud-based services.

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   392

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.