Venture capitalist Jim Breyer provokes VeChain price rise

VeChain cryptocurrency rose 10% in price after american venture capitalist Jim Breyer published a statement claiming that VeChain is worth investing 
10 January 2018   5149

Jim Breyer is an American venture capitalist, founder and CEO of BreyerCapital, an investment and venture philanthropy firm, a partner at venture capital firm Accel Partners, who is known for having invested in over 40 companies.

Venture capitalist, whose net worth is estimated to be around $2.4 billion, has announced that he has invested in VeChain cryptocurrency.

VeChain is a product management platform integrated with Blockchain technology that puts unique IDs on the Blockchain. Vechain is focusing on transparency through anti-counterfeiting and supply chain management. Counterfeit luxury goods are a big problem and VeChain, if successful, could offer a transformative solution.

Jim Breyer

Jim Breyer stated in his post on Quora that VeChain has a strong team and has already established formidable partnerships with organizations like PwC. The venture capitalist expects Vechain to implement their technology and help get rid of various supply chain inefficiencies. 

I took a bold bet on China over a decade ago and remain as convinced as ever that Chinese innovation will resume at a rapid and competitive pace.

Jim Breyer

The statement of american venture capitalist Jim Breyer may have positively influenced the price of VeCain cryptocurrency, which started rising and showed the increase of 7,22% within past 24 hours and growth of 59,85% during past 7 days.

Vechain Charts january 2018VeChain Charts

Previously, we have reported that VeChain announced partnership with Hubei Sanxin Cultural Media Ltd. to manage digital publication industry.

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

  • Average price: $4,63
  • Marketcap: $1 283 919 868
  • 24h volume: $146 770 000

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   166

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.