HitBTC to Delist KIN

According to the expert, HitBTC was the only centralized cryptocurrency exchange with real liquidity in Kin markets 
06 June 2019   920

Cryptocurrency exchange HitBTC, without any announcements or explanations, suspended the Kin token trading.

Kin trading on HitBTC was discontinued about 40 hours before this publication, that is, shortly after it became aware of the Kik claim filed by the US Securities and Exchange Commission (SEC).

Kik is accused of unregistered sales of securities through ICO in 2017, during which, through the sale of Kin, it managed to raise almost $ 100 million. The company, for its part, accuses the SEC of misinterpreting securities laws. Against the background of these events, the American crypto companies Coinbase and Circle have already refused to participate in the Defend Crypto initiative, which was aimed at raising funds to protect Kik from the SEC.

As The Block Director of Research Larry Cermak notes, HitBTC remained the only centralized cryptocurrency exchange with real liquidity in Kin markets. Now Kin is trading either on exchanges with, presumably, fake trading volumes data, or on decentralized exchanges, such as Bancor and EtherDelta

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   1850

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.