Portugal to host ABC Summit

Asset Backed Crypto Summit will be held in Lisbon on May 16–17 to discuss the combinations of the blockchain technology and other disruptive technologies
24 April 2018   700

The capital of Portugal is going to welcome the participants of the Asset Backed Crypto Summit on May 16–17 at Casino Estoril. The event is organized as a three-section conference that will include a "Welcome Cocktail" gathering at sunset of May 16, the "Main Event" at the casino with projects outline and topics discussion during the day of May 17 and a "Closing Ceremony" after-party in the latter half of Day 2.

The list of topics of the agenda is as follows:

  • Social media and the rise of Blockchain
  • Blockchain and Economic Development: Hype vs. Reality
  • Ensuring a Secure Internet of the Future
  • Blockchain for Digital Advertising
  • How can AI be used in a blockchain?
  • Blockchain & Distributed Ledger Technology (DLT)
  • Asset backed cryptos /Wind backed cryptos
  • Tokens and valuation
  • How to fix scalability and high volatility issue on Blockchain
  • Are the glory days of banks ending with blockchain?

There is a showcase of the projects based on multiple value assets spanning across the industries of fossil fuels, precious metals, renewable energy, precious stones, real estate, currency and commodities.

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   233

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.