Ripple price surge amidst Asian expansion

Ripple price soars following the FinTech startup’s announcement on opening an office in Singapore 
28 September 2017   2602

This Wednesday, the FinTech startup announced that it had opened an office in Singapore as part of its continuing plan to penetrate the Asian markets. The news had a great resonance in the cryptocurrency community, e.g. Ripple's price has increased significantly.

It's also noteworthy, that Ripple itself has been making a concerted effort to establish a significant footprint in the Asian banking sector recently. Thus, the company opened an office in India, as well as a base in Singapore.

Now, the Ripple price has begun growing. According to data, following Wednesday’s 9% rally, the Ripple price has climbed to $0.204. Ripple now has a market cap of $7.8 billion which has enabled XRP to come back into the 3rd-place position in the market cap rankings, leaving Bitcoin Cash behind.

XRP on
XRP on

On top of that, the vast majority of Ripple trading is concentrated on the three Korean exchanges that list XRP pairs, as details.

XRP trading volume chart on XRP trading volume chart on

As shown, Bithumb’s XRP/KRW pair accounts for more than half of Ripple’s daily volume, and traders on Korbit and Coinone added another $57 million of liquidity to that currency pair.

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   410

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.