Blockchain 

Veritaseum (VERI) Slumps 60% After Emergency Lawsuit by the SEC

Veritaseum (VERI) slumped 60% in the past 24-hour after The United States Securities and Exchange Commission (SEC) has filed an emergency lawsuit. Big Blow for VERI The explosion of the crypto space has led to a lot of tech innovation as companies have resorted to distributed tokens in the form of an Initial Coin Offering in order to raise capital. It has proven to be a highly effective method of raising capital, and many companies have managed to get off the ground using an ICO. However, it goes without saying…

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Blockchain 

SEC Files Lawsuit Against Veritaseum (VERI) Founder

The SEC has filed an emergency lawsuit against Veritaseum (VERI) and its founder Reginald Middleton with the New York Eastern District Court. The action aims to prevent Mr. Middleton from spending $8 million USD raised by the company in an ICO. “Knowingly Misled” VERI Investors The SEC alleges that Mr. Middleton “knowingly misled” investors about prior business success in order to increase investor demand for VERI tokens. The SEC also claims that Veritaseum made manipulative trades to increase the value of VERI tokens. The value of Veritaseum, the world’s 15th…

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