Joint Venture Partnership $200m signed by Block.one

Block.one, the blockchain software EOSIO developer, informes about a partnership that sees creation of a new US $200 million joint venture fund, EOS Global
06 April 2018   832

Block.one today reported about a collaboration with blockchain veterans Michael Cao and Winnie Liu. That demands the creation of a new US$200 million joint venture fund, EOS Global. EOS Global will produce strategic investments in Asia-focused projects utilizing EOSIO. It is the fourth infusion of capital through Block.one’s EOS VC initiative which now totals 600m USD.

The blockchain space is a competitive one, but we are convinced that the speed, scalability and usability of the EOSIO open-source platform will enable rapid and radical innovation previously impeded by the limitations of existing protocols. We are incredibly excited to support an architecture that will drive mainstream blockchain adoption and foster new community-driven business models. 

Michael Cao, investor, founder of US blockchain mining facility
 

The new fund proceeds the advertisements of EOS VC partnerships with Finlab AG, Galaxy Digital, and Tomorrow Blockchain Opportunities.

Block.one is delighted to welcome investment from Michael and Winnie’s fund that will leverage EOSIO to catalyze the transformation of the digital assets space in Asia. EOS VC is expanding its global reach through divers partners poised to offer EOSIO projects unprecedented international access. 

Brendan Blumer, CEO, Block.one.
 

Block.one has made an initial obligation to deploy US$1 billion in partnership with heading venture capital investors to support development on the EOSIO platform. The EOS VC program suggests the funding the developers and entrepreneurs need to base community-driven businesses leveraging EOSIO.

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   410

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.