El Petro to Consider Us Ban As Advertisement

According to executive secretary of the Venezuelan "Blockchain Observatory", number of new El Petro investors doubled after Trump's sanctions
09 April 2018   1322

According to the executive secretary of the Venezuelan "Blockchain Observatory" Daniel Peña, the sanctions imposed by President Donald Trump on El Petro are, in fact, "free advertising" of this cryptocurrency. This is reported by CCN.

Peña assures that the decree prohibiting US citizens from any operations with "oil-rich" cryptocurrency helped to double the number of investors interested in El Petro.

During an interview with the local edition of Cuatro F, Peña expressed the opinion that cryptocurrencies and the underlying technology of blockchain are "important steps for the revolution of mankind".

I answer you like Earle Herrera [a Venezuelan journalist] when he said that I do not know anything about cryptocurrency, nor do I have clarity about the evolution of the digital currency; But if US President Donald Trump gives it time, imagine that. A person so busy giving it his time, that means we’re on the right path.
 

Daniel Peña

Executive secretary, Venezuelan "Blockchain Observatory"

Thus, he believes, US sanctions caused the so-called "boomerang effect" in the form of increased interest in the El Petro project. According to Peña, if earlier there were about 400 investors a day, then after the introduction of sanctions by Trump, this number doubled.

Asked about when to improve the state of the Venezuelan economy, Daniel Peña responded as follows:

Petro’s impact will be felt within three to six months. We have already advanced fast. As the gringos know that we are going to quickly reorganize our economy, they attack the Bolivarian Government; but they will not stop the economy’s growth, they know it.
 

Daniel Peña

Executive secretary, Venezuelan "Blockchain Observatory"

One of the largest exchanges Bitfinex refused to list El Petro (PTR). Also, there is no "oil-backed" cryptocurrency on the popular analytical service CoinMarketCap.

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   410

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.