Telegram Won't Conduct Public Token Sale

Pavel Durov, founder of the messager, believes that $1.7B raised during two private rounds is enough
03 May 2018   1784

The popular messenger Telegram refused to hold a public ICO, the Wall Street Journal reports referring to a source familiar with the situation.

Telegram raised enough funds from a small group of private investors, and the founder of the messenger Pavel Durov considered that there was no need for an open campaign for the general public.

In total, in two rounds, the last of which was closed at the end of March, Telegram raised $ 1.7 billion.

The fact that the messenger can refuse from the public ICO, was reported as early as March.

Telegram Open Network (TON) was declared as a "blockchain of the third generation" after Bitcoin and Ethereum. For internal user payments, Gram tokens will be used in it.

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   346

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.