ViaBTC stops trading

Another Chinese cryptocurrency stops trading; Bitcoin continues to fall
15 September 2017   1706

Crypto-currency exchange ViaBTC announced the termination of work since September 30, 2017. This decision was made in the light of the statement of the People's Bank of China on the ban on the ICO and against the backdrop of numerous rumors that the activities of the exchanges will also be prohibited.

The mining pool and the cloud-mining service, as assured by the company, will continue to work.

The official statement of ViaBTC says that the site viabtc.com will be closed on September 30 in the territory of mainland China. Over the next two weeks, the exchange intends to complete the process of withdrawing funds to user addresses.

Trading operations, registration of new users and acceptance of deposits will be stopped as early as September 25, and on the last day of the month the site will be completely closed.

As noted in the message, since the opening of the exchange in June 2017, its customers have become more than 100k people worldwide.

Bitcoin chart

With all this China related news, Bitcoin continues its rapid fall. Lost almost 20% in 24 hours.

Top cryptocurrencies
Top cryptocurrencies

As you can see on the chart above, Bitcoin average price is $3118.27. Also, all top ten cryptocoins continues their fall too. Ethereum lost almost 20% too ($218.88); Litecoin lost more almost 30% ($42.32)!

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   235

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.