VeChain Joins Forces with Chinese Real Estate Company

VeChain cryptocurrency is aquiring more new partnerships, and recently reported about the agreement with Beijing Baisheng Technology Co to assist its subsidiary Fanghuwang to improve financial services
19 January 2018   2203

VeChain has announced new partnership agreement with Beijing Baisheng Technology Co., Ltd to assist one of its branches Fanghuwang, a growing online lending platform in China in order to solve major problems within the real estate industry.

Fanghuwang company is providing property mortgage loans, collateral backed lending to small and medium enterprises and the owners of them in China, utilizes cloud computing and big data analysis technology in order to control risks connected with the industry.

VeChain and Fanghuwang plan to:

  • Enhance the client data collection system
  • Enhance data quality
  • Enhance data storage security
  • Enhance data shareability
  • Reduce costs

Previously, we have reported that VeChain announced partnership with Hubei Sanxin Cultural Media Ltd. to manage digital publication industry using VeChain Thor blockchain technologies, and that VeChain and Jiangsu PE Co. joined forces to develop IoT equipment.

VeChain Charts January 2018VeChain Charts

Currently the price of VeChain is rising, having increased 14% during past 24 hours, and VeChain grew from $4,58 to $5,86, while the market capitalization jumped from $1,2 to $1,6 during only one day.

At the moment of press, these are main market parameters of VeChain:

  • Average price: $5,86 
  • Marketcap: $1 623 150 302
  • 24h volume: $200 322 000

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   182

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.