IBM and Comcast Ventures Boost Blockchain Startups

MState, the startup accelerator, plans to invest $25,000 to $50,000 apiece in five or six companies over the next six months
08 January 2018   1059

IBM Corp. and Comcast Corp.’s venture arm will work together in an investment fund for startups that help corporations use blockchain. Under the partnership, Comcast Ventures will provide funding, while IBM will offer up support services to MState startups.

MState, the startup accelerator, plans to invest $25,000 to $50,000 apiece in five or six companies over the next six months. MState, with locations in New York and San Francisco, will also connect its startups with Fortune 500 clients interested in implementing their technologies.

MState has already invested in its first startup, Blockdaemon, which helps companies roll out blockchain applications faster by letting them deploy and manage network nodes.

According to MState, the company may also accelerate other technologies, such as artificial intelligence and quantum computing soon.

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.