New Social Media Based Crypto Index to be Created

According to developers, over 33 TB of social media data is analyzed to create new tool for Thomas Reuters, Bloomberg Terminal and TradingView
14 June 2019   603

Thomson Reuters and Bloomberg platforms, as well as the TradingView portal, will add new cryptocurrency indexes to the financial terminals, which take into account the news agenda and posts in social networks. It is reported by CoinDesk.

Cryptoindex company provides the work of new tools. Thus, users will be able to view one hundred cryptocurrencies of the two hundred most capitalized digital assets.

As noted in Cryptoindex, the presented cryptoassets throughout its existence attracted "significant attention in social networks."

A new index takes into account about 1,800 cryptocurrencies totally, which are selected through several filters. When collecting information, it also takes into account posts in social networks, including Twitter, Telegram and GitHub.

Over 33 Terabytes of data is analysed to extract over 200 factors that create a refined ranking in the index, which is then put into a neural network to create a final rating of coins. 

Press release

In March, it was reported that Nasdaq, Bloomberg and Reuters will begin to display CoinMarketCap cryptocurrency indexes.

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   213

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.