First Blockchain Startup Accelerator launched in Europe

Chain Accelerator has combined many industry veterans in order to cater its clients: a startup is aimed towards the nascent yet booming sector
18 June 2018   1015

The startup is based in Paris and has joined 30 veterans from tech and financial spheres, that envolves names like Hyperloop Transportation Technologies’ chairman Bibop G.Gresta, SWIFT’s former CEO Leonard Schrank, Ledger’s president Pascal Gauthier, etc., in order to enforce the growth of the new blockchain companies.

At a time when the President and the Government want to make Paris, the capital of the ICOs, Chain Accelerator is positioning itself as a key player. By setting up a global and operational network in Paris, it brings together the best talent, extends the circle of contributors, and prepares for disruptions to help blockchain projects develop protocols in all sectors.
Nicolas Cantu
Co-Founder, Chain Accelerator

Applying its co-working with industry veterans, Chain Accelerator is to propose a wide range of services to its customers including technical prototyping, business development, recruitment, marketing and public relations, funding guidance, ICO support, and “token economy” consultatory.

This year ealier, French regulatory agency passed its intention to engage the blockchain companies in the country by creating a regulatory framework for ICOs. It was resulted by a large tax cut by the government for cryptocurrencies which diminished the taxes from 45 percent to 19 percent.

In France, as everywhere in the world, blockchain projects face many uncertainties and complexities, whether financial, legal, or technical. Yet, this technology will revolutionize our daily lives. As such, it is essential today to have both a legislative framework enabling its full development and structures enabling the emergence of such projects. Our country must become a leader in the blockchain. I am convinced that Chain Accelerator - the first blockchain incubator - will contribute greatly to this.
Pierre Person,
Member, National Assembly, Paris

Chain Accelerator has already begun to set an impact in the blockchain startup market, and during 6 months of its incubation period, it is already supporting 13 startups.

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   276

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.