tZero to Present Platform Prototype

According to the CEO of the tZero, they are still waiting for the SEC's feedback regarding the investigation
10 April 2018   1491

The company tZero, a subsidiary of the retail giant Overstock, presented the prototype of the upcoming block-trading platform for trading. This is reported by CoinDesk.

Currently, the company is studying th users feedback about the new platform, the full launch of which is expected in May this year.

According to Patrick Bern, CEO of Overstock, this prototype will give users an idea of the scope of what tZero plans to do.

However, tZero CEO Joseph Kammarata noted that the company is still waiting for a response from the Securities and Exchange Commission (SEC), which is currently conducting an investigation regarding the tZero's ICO.

We anticipate the security token trading software will be ready to trade security tokens in May, subject to developing further regulatory clarity. We have been working hard on getting this prototype right and look forward to user feedback.

Joseph Kammarata

CEO, tZero

It is worth reminding that during the first day of ICO, tZero raised $100M. Also, SEC started the investigation regarding the tokensale due to possible federal securities law violation.

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   1957

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.