Huobi exchange launches Ethereum Classic

Huobi, one of China’s largest exchanges, introduces ETC trading on July 13
12 July 2017   3651
Blockchain

Distributed database that is used to maintain a continuously growing list of records, called blocks

Ethereum Classic finally gets the green light as one of China’s largest exchanges, Huobi, launches ETC trading later today.

Not only this might be considered to be great news for all ETC users, but also it indicates some significant changes in cryptocurrency market world since Huobi is not the first platform to recently add ETC trading.

Ethereum Classic

Is a continuation of the original Ethereum blockchain - the classic version preserving untampered history; free from external interference and subjective tampering of transactions

Huobi provides a system of incentives. Thus, bonuses are given to those who make a deposit of more than 50 ETC from 12 to 17 July. In addition, Ethereum Classic will be traded with low commissions for a while (from July 12 to July 16 - 0.01% and 0.05% - from July 16 to July 21).

The market reacts positively to the news as for the last day Ethereum Classic has grown in price in comparison with other crypto-currencies:

Ethereum Classic on coinmarketcap.com chart Ethereum Classic on coinmarketcap.com chart

It is evident there is a global demand for Ethereum Classic right now. Whether or not this is due to the ongoing Ethereum network issues, remains to be seen.

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   166

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.