Rumors circulate about Telegram launching its own cryptocurrency

Unconfirmed info about Telegram's Blockchain platform surfaced today on Facebook
22 December 2017   1926

The popular messenger Telegram will release their own cryptocurrency, according to unconfirmed sources from Facebook. Anton Rozenberg, former employee of Telegram's publishing division Telegraph, posted a video on his Facebook page detailing the upcoming “Telegram Open Network” (TON). He hasn't disclosed the source, but the video itself is quite interesting. According to it, Telegram will utilize the blockchain network to create a cryptocurrency of their own.

Besides, Pavel Durov himself, the creator of Telegram, said in his earlier interview to Bloomberg, that his messenger is a charity for people who live under oppressive governments and that he plans to monetize it only in 2018, and even then just enough to finance the expansion, no selling out. The important bit being about plans for 2018. So, it's quite possible, in hindsight, that he was referring to TON.

The described technology will allow for fast transactions because of multi-blockchain implementation and dynamic scaling by splitting the chains in real time. Also the clients wouldn't have to download and run heavy blockchain apps, only a light wallet, which will probably be embedded into the messenger itself.

That is, actually, a big bonus for TON, because right now Telegram boasts more than 180 million users, so their virtual currency wouldn't have to go through a lengthy adoption stage – just signing up all current users will get a wider coverage, than any other emerging crypto.

Telegram's rising popularity among crypto enthusiasts can be contributed to its end-to-end “hack-proof” encryption, servers location being a secret and, on top of that, multiple refusals by Pavel Durov to release users' personal information to any government agency in the world, regardless of lawsuits and even being declared a terrorist by Iran court in absentia.

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.