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Topic: VERITASEUM DISCUSSION THREAD - page 5. (Read 250993 times)

hero member
Activity: 1610
Merit: 508
August 19, 2019, 05:33:47 AM
Quote
The SEC has filed charges against Reginald “Reggie” Middleton and two entities that he controls, Veritaseum, Inc. and Veritaseum, LLC (collectively Veritaseum). For more information, please refer to: https://www.sec.gov/news/press-release/2019-150

CMC published this:

https://coinmarketcap.com/currencies/veritaseum/

As i see they are not listed to any decent exchanges (only small).

Have they were listed before to any top exchanges or exchanges already delisted them?
sr. member
Activity: 492
Merit: 251
August 19, 2019, 05:22:23 AM
The whole case hinges on whether or not it is a utility token. If Reggie wins that argument the rest of the case falls apart. Reggie was very up front with and tried to work with the SEC at the time. I recall that he attempted to get "no action" letters and he took other measures to show good faith compliance efforts. In addition, he implemented KYC and AML on his platform from the beginning.

I think the SEC is going to have a hard time proving its case. Yes, they found a few examples of statements Reggie made which we don't know the context of that may or may not prove something, but he was always very careful in all of the videos and materials I saw to avoid making statements and claims like the ones in the complaint. By no means was it a pattern of behavior or conduct.

The SEC case is flimsy, but it takes a lot of money and lawyers to stand up to them. I hope he can be successful.

If you read the case, it is about market manipulation and misrepresentation. In case of manipulation, the blockchain has all the evidence.
i always found Reggie's comparison with his large holding of Veritaseum to Microsoft selling Windows very strange, like it is software. Did the SEC mean that with 'misrepresentation'?
member
Activity: 420
Merit: 13
August 19, 2019, 04:15:39 AM
The whole case hinges on whether or not it is a utility token. If Reggie wins that argument the rest of the case falls apart. Reggie was very up front with and tried to work with the SEC at the time. I recall that he attempted to get "no action" letters and he took other measures to show good faith compliance efforts. In addition, he implemented KYC and AML on his platform from the beginning.

I think the SEC is going to have a hard time proving its case. Yes, they found a few examples of statements Reggie made which we don't know the context of that may or may not prove something, but he was always very careful in all of the videos and materials I saw to avoid making statements and claims like the ones in the complaint. By no means was it a pattern of behavior or conduct.

The SEC case is flimsy, but it takes a lot of money and lawyers to stand up to them. I hope he can be successful.

If you read the case, it is about market manipulation and misrepresentation. In case of manipulation, the blockchain has all the evidence.
jr. member
Activity: 191
Merit: 1
August 19, 2019, 01:22:30 AM
I don't think that the CEO will fail in the case, i do believe that he will win for sure.
In every trading platform, there's a disclamer asking peoples to only invest what they can afford to lose, other disclamers might be different but has the same meaning, what's the CEO's issue in that?
Also, The E-Mail might have another meaning, there is no evidence that proves 100% that the CEO was playing with investors funds, the SEC have to put more efforts to grab something "REAL" for the peoples to believe in.
I will pray that this will be something equal to the Huawei Chaos that took place in the last weeks and this whole story might turn up to be a FREE AD to VERI that will make it soar. There's no good evidence here, so, let's follow the case Wink

The whole case hinges on whether or not it is a utility token. If Reggie wins that argument the rest of the case falls apart. Reggie was very up front with and tried to work with the SEC at the time. I recall that he attempted to get "no action" letters and he took other measures to show good faith compliance efforts. In addition, he implemented KYC and AML on his platform from the beginning.

I think the SEC is going to have a hard time proving its case. Yes, they found a few examples of statements Reggie made which we don't know the context of that may or may not prove something, but he was always very careful in all of the videos and materials I saw to avoid making statements and claims like the ones in the complaint. By no means was it a pattern of behavior or conduct.

The SEC case is flimsy, but it takes a lot of money and lawyers to stand up to them. I hope he can be successful.
copper member
Activity: 165
Merit: 1
Roy's Poker Room - BTC, 0.1% Rake, No KYC
August 18, 2019, 03:55:54 PM
https://coinmarketcap.com/currencies/veritaseum/

VERI is now ranked at no. 1134 on coinmarketcap.



Look how the volume has fallen off a cliff.
It's almost as if whoever was behind a wash-trading-for-credibility-volume program has been forced to abandon it....

We can clearly see how Reggie and his team are pumping the coin again.
legendary
Activity: 1932
Merit: 1737
"Common rogue from Russia with a bare ass."
August 18, 2019, 09:48:55 AM
https://coinmarketcap.com/currencies/veritaseum/

VERI is now ranked at no. 1134 on coinmarketcap.



Look how the volume has fallen off a cliff.
It's almost as if whoever was behind a wash-trading-for-credibility-volume program has been forced to abandon it....
sr. member
Activity: 492
Merit: 251
August 18, 2019, 07:46:58 AM
https://coinmarketcap.com/currencies/veritaseum/

VERI is now ranked at no. 1134 on coinmarketcap.
sr. member
Activity: 1246
Merit: 306
C U
August 17, 2019, 04:58:51 PM
I don't think that the CEO will fail in the case, i do believe that he will win for sure.
In every trading platform, there's a disclamer asking peoples to only invest what they can afford to lose, other disclamers might be different but has the same meaning, what's the CEO's issue in that?
Also, The E-Mail might have another meaning, there is no evidence that proves 100% that the CEO was playing with investors funds, the SEC have to put more efforts to grab something "REAL" for the peoples to believe in.
I will pray that this will be something equal to the Huawei Chaos that took place in the last weeks and this whole story might turn up to be a FREE AD to VERI that will make it soar. There's no good evidence here, so, let's follow the case Wink
legendary
Activity: 1190
Merit: 1000
SoNiC BooM
August 17, 2019, 03:33:33 AM
You people do realize the SEC case is based on the premise there is no such thing as utility tokens. Every US ICO was an unregistered security and everything the company did afterwards will be scrutinized under the strictest possible standards of a publicly traded company.

That should scare the shit out of everyone who owns any tokens from a US ICO or which openly allowed US residents to buy.



I agree with you...It will be a looong legal battle and Reggie can pray that SEC will in a meantime do legal framework to recognise utility token as valid mean of inner platform exchange vehicle.
newbie
Activity: 21
Merit: 0
August 16, 2019, 02:52:04 AM
You people do realize the SEC case is based on the premise there is no such thing as utility tokens. Every US ICO was an unregistered security and everything the company did afterwards will be scrutinized under the strictest possible standards of a publicly traded company.

That should scare the shit out of everyone who owns any tokens from a US ICO or which openly allowed US residents to buy.

copper member
Activity: 165
Merit: 1
Roy's Poker Room - BTC, 0.1% Rake, No KYC
August 15, 2019, 05:36:21 PM
There is also the "hack" that I'm sure he'll have to answer for. SEC question.."why did you not contact authorities after $8 million dollars was "stolen" in the hack?"  Reggie..."ahhhhhhhh" 

Reggie: ahh well, because i stole them myself lel
member
Activity: 124
Merit: 10
August 15, 2019, 11:38:05 AM
 There is also the "hack" that I'm sure he'll have to answer for. SEC question.."why did you not contact authorities after $8 million dollars was "stolen" in the hack?"  Reggie..."ahhhhhhhh" 
member
Activity: 69
Merit: 11
August 15, 2019, 03:49:17 AM
Reggie's son sure has a steep 'learning' curve, to reflect upon......
newbie
Activity: 72
Merit: 0
August 15, 2019, 01:45:43 AM
BICONNNNNNNNNNNNNNNNNEEEEEEEEEEEECT
member
Activity: 840
Merit: 10
ZooomEx- a new cryptocurrency exchange!
August 14, 2019, 07:57:08 AM
As I remember SEC brought charges to Kick project few month ago. Its too pity that they have influence in USA only. Because a lot of scam projects are outside USA (
member
Activity: 420
Merit: 13
August 14, 2019, 07:54:40 AM
Sorry to see Veritaseum go, and Reggie & Co. sinking into the abyss due to his arrogance and pride.

He should have listened to me back then when I vehemently suggested him to burn all his 98% supply as a way to boost the price.

In fact, if he listened, I would have lots more suggestions for him to improve his business model.

The price of VERI today would not have collapsed this low if only he is humble and listened. His pride destroys him and everything else.

When it comes to evaluating business model viability, I am very rarely wrong. I say the project is as good as dead.

No, the SEC will not lose. They come ready with all the evidence necessary to win the case.

This is not a matter of simply refunding the money and then avoiding US customers. This is a matter of fraud (through market manipulation and several others) and as such, a criminal conduct.
sr. member
Activity: 492
Merit: 251
August 14, 2019, 03:50:25 AM
hero member
Activity: 1068
Merit: 523
August 13, 2019, 08:25:48 PM


Hoping for the best on this project???
The current situation with SEC is telling something for this platform.
I wonder if they can ever get back on their feet. Holders embrace your fate.
What can you say about their price chart?



Of course there is a market reaction. That provides the opportunity.
Worst case they refund ICO purchases, pay a fine, and block US users from their service which is going to be or was being operated overseas. The project will live on.

There's no such thing as bad publicity,  if Reggie wins the case (which is possible) veritaseum is known more widely.

In the ranks of crypto sçammers Reggie is relatively clean, he's not exactly low hanging fruit compared to Larimers or WAVES etc

I think Reggie can beat this, he has a reasonable argument why veritaseum isn't a security, and if trading your own bags is a crime every crypto founder is going to join reggie on the sec hit list eventually.
jr. member
Activity: 191
Merit: 1
August 13, 2019, 04:32:13 PM


Hoping for the best on this project???
The current situation with SEC is telling something for this platform.
I wonder if they can ever get back on their feet. Holders embrace your fate.
What can you say about their price chart?



Of course there is a market reaction. That provides the opportunity.
Worst case they refund ICO purchases, pay a fine, and block US users from their service which is going to be or was being operated overseas. The project will live on.
hero member
Activity: 2730
Merit: 588
August 13, 2019, 04:23:39 PM
yay! VERI going to 0!!!!
Down 70%ish today!

All alts are in the toilet, shitcoins will get flushed, let's hope veritaseum survives!

Reggie needs to stay visible, he's a good frontman

https://cointelegraph.com/news/sec-requests-freeze-on-assets-in-connection-with-alleged-15m-ico-fraud

VERI ICO fraud.
This is a good opportunity to pick up more VERI cheap. There was no fraud, Reggie has delivered on everything promised and represented. The only thing might be appropriation of funds as we would have no visibility into that.
Reggie has repeatedly mentioned trying to work directly with the SEC and spending tons of money on lawyers. I'm confident he has a solid defense, I won't be surprised if charges are dropped in a fairly short amount of time.
His reputation is toast.

Hoping for the best on this project???
The current situation with SEC is telling something for this platform.
I wonder if they can ever get back on their feet. Holders embrace your fate.
What can you say about their price chart?


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