RChain to launch testnet

RChain is organizing RCon3 event on September 3-4 with a testnet launch as part of the event
19 June 2018   1182

RCon3 assembles dApp developers, investors and researchers to introduce the RChain platform and the chance to participate in the launch of the RChain testnet on September 3. The event will feature 4 tracks:

  • technology;
  • blockchain solutions;
  • research;
  • development

Highlights of the program include practical workshops for dApp developers, launch of the RChain testnet, demonstration of the Rhoc/Rev swap and key signing parties. RChain testnet launch section is going to encompass informational sessions for validators and investors on PoS economics, infrastructure requirements and system engineering.

More information is available here. RChain market characteristics at the moment of publication are as follows:

Average price 1.02 USD
Market cap 367,919,886 USD
Volume (24H) 745,146 USD

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   277

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.