Open Trading Network to Launch Crypto Exchange

The OTN Exchange, connecting various brokers and partners to the platform, is scheduled to be released in April 2018
28 March 2018   1686

Open Trading Network is the platform that aims to bring the cross-chain technology and unite all blockchain networks and market participants. Open Trading Network has announced that from April 2018 it will be bringing a trading solution to the crypto-market , providing collateralized and decentralized cross-chain exchange.

Soon after the lauch of OTN wallet supporting 7 cryptocurrencies, OTN Exchange should begin operations  facilitating tokenization of crypto assets via the centralized tokenizer. The OTN Exchange, which is scheduled to be released in April 2018 should connect various brokers and partners to the platform. The exchange will be conveniently accessed via the OTN wallet .

As for the long-range plans of OTN, the full tokenization of crypto assets through a decentralized tokenizer and depository, achieved through the launch of the OTN.x multi-chain technology, will be implemented in September of 2018. Moreover, 13 months after the official launch OTN will deliver the decentralized clearing of all network operations and November of 2018 will bring the implementation of tools for regulators.

At the moment of press, these are main market parameters of OTN:

Average price: $2,59
Marketcap: $9 299 700
24h volume: $60 060

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   174

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.