Veritaseum Targeted by SEC
Washington D.C. — The Securities and Exchange Commission (SEC) issued an emergency lawsuit to prevent the founders of Veritaseum from spending it’s ICO money. Allegations include purposefully misleading investors and using fake statistics on its website. The SEC is clearly not worried about hitting these previously high-profile projects. Expect to see more crackdowns like this in the near future.
The VERI token which traded at a previous high of near $500 in early 2018 can be scooped up for just over $5 today. This legal action seems to have reverberated throughout the crypto industry as the crypto market cap is down over 5%.