Morgan Creek Intends to Create $500 Crypto Fund

To realize this goal, Morgan Creek acquired a Full Tilt Capital venture company based in North Carolina
28 March 2018   692

The founder of Morgan Creek Capital Mark Yusko said that his company plans to raise $ 500 million of investment to create a new hedge fund focused solely on crypto-assets and other blockchain-based solutions. This is reported by CCN.

Morgan Creek believes blockchain to be one of the most powerful and valuable technologies to have been developed in the digital age and also believes that the disruptive power of the application of blockchain technology across all asset classes will create enormous investment opportunities.

Mark Yusko

Founder, Morgan Creek

To realize this goal, Morgan Creek acquired a Full Tilt Capital venture company based in North Carolina, which specializes exclusively in crypto assets investing.

According to managing partner of Full Tilt Anthony Pompliano, the new fund, perhaps, will be engaged in tokenization of real estate, as well as investments in debt and other types of assets. However, he does not rule out that, because of these areas of investment activity, the company may face regulatory difficulties.

If Morgan Creek successfully attracts $ 500 million, this amount will be approximately 25% of the total assets under the company's management, which will make the new hedge fund the largest in the cryptocurrecny market.

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   392

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.