Japanese Liquid Capitalization to Exceed $1B

Now it can be officially called unicorn; Liquid is 2nd unicorn of technology sector in Japan
03 April 2019   481

Japan-based cryptocurrency trading platform Liquid closed the first stage of Series C financing; now its market value exceeding $ 1 billion. Thus, Liquid received the status of a unicorn company, Cointelegraph reported.

Liquid became just the second “unicorn” in the technology sector in Japan - previously, the company in the field of artificial intelligence, Preferred Networks, achieved capitalization in the amount of more than $ 1 billion.

Reportedly, the new round of Liquid financing was led by the US investment firm IDG Capital. Also, the company’s investor was Bitmain Technologies, a leading manufacturer of mining equipment. At the same time, the aggregate amount of financing turned out to be rather modest - only about $ 9 million.

Note that IDG Capital has previously invested in such companies as Coinbase, Ripple, the Kakao cryptocurrency division, as well as in Bitmain Technologies itself. In December 2018, Bitmain took part in the financing of the ErisX derivatives exchange.

Liquid is a subsidiary of Singapore-Fintech company Quoine, which is licensed by the Japan Financial Services Agency. The official launch of the platform took place last September.

According to Quoine representatives, the funding received will be directed to the global expansion of Liquid, the development of new products for traders and the entry into the market of security 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   182

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.