Grayscale to Manage Crypto Assets Worth More Than $1B

According to the company, as of April 1, the size of the assets under its management was $ 940 million
03 April 2019   431

Grayscale Investments reported that the cumulative amount of cryptocurrency funds under its management of funds again exceeded $ 1 billion. More than 90% of the company's assets are under a bitcoin-oriented trust.

According to the company, as of April 1, the size of the assets under its management was $ 940 million, at the end of February this figure was $ 747 million.

On April 2, amid a sharp jump in the price of Bitcoin, the total volume of assets under management, however, rose to $ 1.1 billion, of which $ 999.1 million was Bitcoin.

In February Grayscale Investments published an investment report for 2018, according to which, despite a stable quarterly decline in attracted investments in its products, ended the year with a record figure of $ 395.5 million.

At the beginning of December 2018, Grayscale Bitcoin Investment Trust controlled more than 200,000 BTC, which at that time was about 1% of the total emission of the first cryptocurrency.

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   271

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.