KuCoin to Launch Spotlight IEO Platform

As reported by the KuCoin itself, information about the first tokensale will appear this week
21 March 2019   737

The KuCoin marketplace announced the launch of a platform for initial exchange offerings (IEO) called Spotlight.

The exchange's blog says that information about the first tokensale will appear this week. It is also known that tokens will be distributed according to the principle of first-come, first-served, that is, in the order of receipt of applications from investors. To purchase assets of new projects will use its own token exchange - KuCoin Shares (KCS).

In order to participate in the tokensale users will need to be verified. Some countries and regions will not be admitted to IEO on KuCoin.

After Binance conducted two extremely successful IEOs on the basis of its platform, BitTorrent and Fetch.ai, the analogue of Launchpad appeared on OKEx. Soon, Bittrex International announced the launch of its own IEO platform.

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.