Infinity Economics to release its crowdfunding platform

Infinity Economics is launching a crowdfunding platform on April 7 as the network hits 655,000 blocks mark
26 March 2018   785

Blockchain financial ecosystem Infinity Foundation has announced it's releasing the crowdfunding platform on April 7 as the network sets a 655,230th block milestone. Along with this announcement the project also setup several feature release block further: as the height of the blockchain gets to a certain point, the specific feature is activated automatically. The coming features include shuffling, subscription, escrow and smart contracts.

Infinite Economics sees great potential in idea realization through democratic methods, i.e. crowdfunding: all that's necessary is the initiator, the donators and the platform that serves as a bridge to bring the parties together. Nevertheless, the biggest disadvantage of the current approach is fees: payment processing fees, raised amount fee, etc. Having a built-in currency feature, Infinite Economics offers fully automatic decentralized solution for fast and affordable crowdfunding that may include projects in arts, medicine, travelling, charity, social entrepreneurship and many others.

The company as a whole provides a decentralized and transparent system that allow transactions to be processed peer-to-peer over the blockchain. It recently partnered with LiveTree (blockchain based end-to-end production and distribution platform for TV and film) to offer loans to content makers through LiveTree's platform. As of the moment of the publication, the market indicators for Infinite Economics are as follows:

Average price: $0.015670

Volume (24h): $296,990

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   304

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.