Spherix invested into blockchain-focused education platform

Despite the development stage media and education platform TheBit Daily secured an investment of Spherix Incorporated
27 March 2018   675

It was announced that the deal between TheBit Daily and Spherix had been finalized on March 27. TheBit shares through special guides its knowledge and understanding of the blockchain technology. Custom-curated newsletters are available to the users with the latest updates on the technology and cryptocurrency. Interviews with industry leaders is a crucial part of the resource.

When Bitcoin was booming in 2017, friends asked us constantly how to participate in its explosive growth. That's when we realized there was a lack of education in the space.  Articles and media were geared towards highly complex and technical information. TheBit Daily was born out of the need to simplify blockchain for everyone.

 

Erica Amatori

Co-Founder, TheBit Daily

TheBit has some plans regarding expansion: it's going to include community sourced resource discovery, international videos and access to social network focused on the blockchain ecosystem.

Our investment in TheBit provides our shareholders another opportunity to participate in the growing blockchain and cryptocurrency space, while also being accretive to our proposed acquisition of DatChat.  As the Company moves into the blockchain space, TheBit provides our shareholders and other users with clear and easy to understand information about blockchain and cryptocurrencies. This investment will seek to diversify our revenue base as we help incubate and grow a fantastic startup.  This is a true win-win.

 

Anthony Hayes

CEO, Spherix

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.