Swiss Blockchain SophiaTX to join Cheng & Co

A parent company of SophiaTX / Equidato Technologies AG - Venaco Group and Cheng & Co announce their strategic partnership for B2B business and IT projects
24 April 2018   698

Both firms agreed to adopt SophiaTX, the blockchain platform which is offering  innovation to industries by expanding applications like ERP, CRM and others, to explore blockchain technology further to force business growth and possibilities.

Under the agreement, Venaco Group will cooperate with Cheng & Co to promote strategic business consulting and transformation services to Cheng & Co in order to increase and expand services provided to its regional customers.

We’re excited to team up with Cheng & Co as our Asia partner on IT consulting and innovation technology as we believe it will extend our presence and open new doors to opportunities in the market. By combining Cheng & Co’s accounting and outsourcing expertise with our skills and industry know-how in ERP, we enable ourselves to deliver a fully-fledged and comprehensive service to customers in this space. 
Marian Hires, Managing Partner, Venaco Group; Co-founder, Equidato Technologies AG

SophiaTX is a blockchain platform and marketplace founded for extending traditional applications like ERP, CRM and many others. It is constructed and delivered by Swiss based Equidato Technologies AG. Cheng & Co is one of Malaysia’s largest home-created accounting firm. Nowadays Cheng & Co has 11 offices across the country with more than 300 people in the firm serving more than 5000 companies. Cheng & Co provides a One-Stop resolve to SMEs with services that include Audit, Tax, Goods and Services Tax (GST) advisory, Management Consultancy, Corporate Advisory (IPO and M&A), Internal Audit and Corporate recovery and insolvency.

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   233

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.