Steven Seagal Left Bitcoiin2Gen ICO After $75M Raised

It is stated that this step was taken within the plan, which assumes complete anonymity of this cryptocurrency
27 March 2018   1701

The Bitcoiin2Gen project announced that its founders and brand ambassador, Steven Seagal, left the organization after the ICO campaign was completed.

The official website of the project says that during the ICO $ 75 million was collected. This amount was the called Soft Cap, and at the moment visitors to the site are greeted with a message that there is still some "limited" number of tokens available for sale.

In a press release, the Bitcoiin2Gen team thanks all investors, anonymous founders and personally Steven Seagal.

It is stated that this step was taken within the framework of the plan, which assumes complete anonymity of this crypto currency created on the Ethereum blockchain.

As Bitcoiin goes through the conversion phase from token to mineable coin we wish to advise that Bitcoiin will join the likes of the original Bitcoin and become a truly open source. Therefore a big thank you to the Founders and to our Brand Ambassador whom we wish all the best in their future endeavors. However, from this point on Bitcoiin will function within its ecosystem and become a genuinely anonymous cryptocurrency with no individual or individuals having control over the entity!
 

Bitcoiin2Gen team

Earlier the project was severely criticized and compared to pyramid schemes, however, as stated in the press release, the commission structure operated only for the duration of the ICO and served as a way to reward users who promoted it. Representatives of Bitcoiin2Gen also reproached the media for pursuing sensations and comparing the project with financial pyramids.

It is also claimed that upon the completion of the ICO and with the start of the mining, the project founders will designate one or more community representatives who will become legal owners of the bitcoiin. com website.

Earlier this month, Bitcoiin's activities were ordered to stop the by New Jersey Securities Office. In a short time, the same decision was taken by the state of Tennessee.

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   235

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.