Hedera Hashgraph to Raise $100M

CEO says that attracted funds will go on to further develop the public register of Hedera
02 August 2018   1563

The blockchain start-up Hedera Hashgraph has completed a new round of funding, raising $ 100 million to further development of the distributed network and ecosystem of decentralized applications.

In the future, the startup will conduct a public ICO for accredited investors with a $ 20 million hardcap. It is noted that one of the investors in this round will be Ari Paul of BlockTower.

The attracted funds, according to the CEO Mans Harmon, will go on to further develop the public register of Hedera and will solve market problems that prevent the mass distribution of this technology.

We add that earlier Hedera Hashgraph raised $ 18 million on a closed sale of tokens.

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   2054

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.