Veritaseum (VERI)
From CryptoWiki
Basics
| Total supply | 100.000.000 |
|---|
- Not mineable, ERC-20
- a smart contracts-based, peer-to-peer wallet interface (in beta) that currently interacts with Bitcoin blockchain (to be ported to Ethereum). It allows non-technical individuals & entities to quickly create, enter and manage smart contracts directly with others without an authoritative 3rd party. It was the first of its kind written on a public or private blockchain.
- The dominant messaging previously was about a research portal, but now it seems to be shifting to physical asset tokenization.
- If you want to read an in-depth report documenting the many deceptions surrounding the token, see Lighthouse Crypto’s comprehensive 38-page takedown
- Development has been absent (1-2019)
- The subreddit has gone private. Even the bitcointalk forum is moribund.
SEC Settlement
"The U.S. Securities and Exchange Commission (SEC) said it has reached (1-11-2019) a $9.5 Million settlement with Reggie Middleton, organizer of the fraught $14.8 million Veritaseum (VERI) initial coin offering (ICO). In a filing with the New York Eastern District Court, dated Oct. 31 and published today, Middleton agreed to the consent decree of the final judgment, without having to admit or deny the allegations, while waiving any right to appeal. He agreed to pay approximately $9.5 million to settle the case. According to the SEC filing, Middleton has the obligation to pay disgorgement and prejudgment interest of $8.47 million, plus a civil penalty of $1 million."
Team, etc.
- Middleton, Reggie; CEO & Founder, their websites claims that he “has advised thousands of investors, traders, hedge funds and global banks.”
- Dworznik, Patryk; Lead engineer, developed the legacy Veritaseum Java client
- Kapoor, Manish; Lead analyst “a certified International Analyst and Forensic Accountant, served as Asst. Director & Manager with CRISIL/S&P, Price Waterhouse Coopers & Deloitte. Manish has worked with Reggie for 10 yrs in predicting the fall of Bear Stearns, Lehman Brothers, General Growth Properties and the European sovereign debt crisis.”
