💥Coreum’s Mainnet Launch Date, New Airdrop and Upcoming Plans for Q1 2023💥

a new round of community airdrops for the CORE, SOLO and XRP holders

December 22, 2022

In this blog post, Coreum developers reveal the mainnet launch date of Coreum Layer-1 Blockchain and details on a new round of community airdrops for the CORE, SOLO and XRP holders.

Since its announcement in Dec 2021, Coreum Blockchain has gained tremendous global attention by introducing a new standard for enterprise use cases, such as ISO20022 compliance and Smart Tokens. Learn more about Coreum technologies here.

Coreum’s open-source project is 100% community-owned and is built by developers with a passion for making a more advanced, secure and fast blockchain for any size of the enterprise.

Mainnet Launch, Staking, Partnerships and VC Fundraising Round

Mainnet Launch Date: The highly anticipated mainnet launch of the Coreum Blockchain will take place on the 24th of March 2023 at around 04:00 AM UTC.

Staking: Once the mainnet is live, participants will have a unique opportunity to start staking their CORE tokens on the Coreum Blockchain. It’s forecasted the early stakers benefit from APRs as high as 40% initially while the total supply is moving from XRPL to Coreum blockchain.

Partnerships and Exchange Listings: The Growth and Partnership teams at Coreum have been working hard behind the scenes to bring more value to the Coreum ecosystem. Right after the mainnet launch, we will announce many exciting partnerships like various institutional validators, wallet integrations and Tier-1 exchange listings.

VC Fundraising: Since its inception, the Core team’s principle was to develop an open-source technology that is 100% community based without public token sale (IEO, ICO or IDO), which has traditionally been a common practice among most blockchain projects. Coreum will launch its first fundraising round in Q1 2023 for reputable VCs and Institutional accredited investors.

CORE and xCORE Airdrops

Coreum has been a 100% community-based project and will always remain the same. Community and technology are the main backbones of any blockchain project, and the success and future adoption of its technology depend directly on both factors. Within the past 18 months, we’ve been working around the clock on the research and development of Coreum technology. As we’re getting closer to the mainnet launch, it’s a suitable time to expand the Coreum community, increase its reach within the crypto space and make the ecosystem truly decentralized by airdropping the majority of the supply to the community.

To engage more crypto communities to participate in the Coreum ecosystem, the Core Team has decided to unlock and conduct an airdrop of 100,000,000 CORE tokens to the CORE holders and 50M xCORE token (Option Tokens with a Strike Option Price of $10) to both SOLO and XRP holders.

What’s the Airdrop Ratio of CORE and xCORE?

A total of 100,000,000 CORE tokens will be distributed to those accounts that hold CORE, and a total of 50,000,000 xCORE tokens will be distributed to the wallets that hold SOLO and/or XRP at the time of the snapshot.

The following ratio will be applied to the distribution:

CORE holders*: 100% of the total CORE Airdrop amount (100M CORE tokens)

*Please note that a TrustLine to the Coreum Gateway must be in place for the account to be eligible for the airdrop.

XRP holders*: 50% of the total xCORE airdrop amount (25M xCORE tokens)
SOLO holders*: 50% of the total xCORE airdrop amount (25M xCORE tokens)

*Please note that a TrustLine to the xCORE Gateway must be in place for the account to be eligible for the airdrop.

The Airdrop amount, snapshot and distribution schedule

Example For CORE Airdrop Ratio Calculation: Let’s assume the final amount of CORE, which is qualified for the CORE airdrop at the time of the snapshot, is as follows:

CORE: 50,000,000

Then the number of CORE Airdrops for the holders of the CORE will be calculated and deposited as below:

CORE Holders Ratio:

100,000,000 ÷ 50,000,000 = 2 CORE* per each CORE Holding

(Total CORE Airdrop Amount) ÷ (Total Participation amount) = CORE Airdrop Ratio

*The final ratio calculation of the CORE airdrop is subject to the total number of CORE holdings participating in the airdrop. It will be calculated and announced officially post-snapshot date.

Example For xCORE Airdrop Ratio Calculation: Let’s assume the final amount of SOLO and/or XRP, which are qualified for the xCORE airdrop at the time of the snapshot, are as follows:

SOLO: 100,000,000

XRP: 1,000,000,000

Then the number of CORE Airdrops for the holders of the CORE will be calculated and deposited as below:

SOLO Holders Ratio:

(50,000,000 ÷ 2) ÷ 100,000,000 = 0.25 xCORE* per each SOLO Holding

(50% of Total xCORE Airdrop Amount) ÷ (Total Participation amount) = xCORE Airdrop Ratio

XRP Holders Ratio:

(50,000,000 ÷ 2) ÷ 1,000,000,000 = 0.025 xCORE* per each XRP Holding

(50% of Total xCORE Airdrop Amount) ÷ (Total Participation amount) = xCORE Airdrop Ratio

*The final ratio calculation of the xCORE airdrop is subject to the total number of XRP and/or SOLO holdings participating in the airdrop. It will be calculated and announced officially post-snapshot date.

What’s xCORE? How does the Redemption work?

To further incentivize the community and avoid immediate pressure on the CORE market after the airdrop distribution, the Core team is issuing 50M xCORE tokens (at a value of $500M USD) to be airdropped exclusively to the SOLO and XRP communities.

xCORE is an Option Token that can be exchanged for CORE tokens if the CORE price reaches and stays above $10.00 for 240 consecutive hours (10 days) or expires on March 24th, 2025, 04:00 AM UTC.

**After its expiry, regardless of the price, holders of xCORE are eligible to exchange 1:1* to CORE tokens via a smart contract on the Coreum Blockchain.**

*1 xCORE is always fully backed by 1 CORE and held in a smart contract on the Coreum Blockchain until redemption takes place. xCORE is interoperable with XRPL and Coreum Blockchain and can be bridged for redemption.

In a nutshell, if you hold XRP or SOLO at the time of the snapshot, you will receive* xCORE tokens, which can be exchanged for CORE tokens, given the price of CORE goes above $10. If it does not, you will receive 1 CORE regardless of the price after 2 years.

*To receive the xCORE token, you must issue a TrustLine to the xCORE gateway mentioned in this article. Scroll down to the end of this article and learn how to set up your Trustline.

Type: Token Option

Symbol: XCORE

Strike Price: $10 USD — Remains above the strike price for 240 hours (10 days)

Expiry: March 24th, 2025 04:00 AM UTC

Backed by: CORE (1 XCORE = 1 CORE)

XRPL Issuing Address: r3dVizzUAS3U29WKaaSALqkieytA2LCoRe

Coreum Smart Contract Redemption Address: TBA after mainnet launch

When will the Snapshot be taken?

Snapshot Date/Time: March 24th, 2023, 04:00 AM UTC.

When will the CORE and xCORE Airdrops be Distributed?

CORE airdrop distribution to the CORE holders will take place in 4 equal instalments with 60 days buffer time in-betweens, and the xCORE will be distributed in one instalment to the XRP and/or SOLO holders as follows:

CORE Distribution (For CORE Holders)

Distribution 1: 1st Apr 2023
Distribution 2: 1st Jun 2023
Distribution 3: 1st Aug 2023
Distribution 4: 1st Nov 2023

xCORE Distribution (For XRP and/or SOLO Holders)

The xCORE airdrop distribution to the SOLO and XRP holders will take place on 15th May 2023.

Why is the SOLO community included in this Airdrop?

The Coreum idea was developed by the Sologenic development foundation and backed by the SOLO community. It’s time to make the bond between both SOLO and CORE communities even stronger than before.

The Sologenic team never stops!

We continue to develop new use cases and innovative ideas within the Sologenic ecosystem on both XRP Ledger and Coreum Blockchain. The most compelling use case is the tokenized assets trading platform which is planned to go live as a pilot program in specific jurisdictions in 2023.

Sologenic will also integrate with the Coreum networks so users can hold and trade fungible and non-fungible assets on both Coreum and XRP Ledger. In Q1 2023, SOLO Cards and Sologenic IDO launchpad will also go live.

Why is the XRP community included in this Airdrop?

Coreum was built out of a necessity by the Sologenic Tokenization Platform, and the XRPL has been a key to this journey. The XRP Ledger inspired many aspects of the Coreum Blockchain, and we would like to keep the two blockchains side-by-side that complete one another and remain interoperable.

For this reason, the first asset other than IBC-based assets that will be bridged to the Coreum Blockchain is the XRP and other tokenized assets on the XRPL.

This interoperability allows these assets to fully utilize the power of the Coreum Blockchain and create more use cases by using Smart Contracts and Smart Tokens. In addition, by design, these assets will flow into the Cosmos-based chains through IBC.

This will unlock many new opportunities for XRP, such as DeFi and innovative smart contracts-based d’Apps.

What wallets will be excluded?

All the wallets belonging to the foundation and teams at Coreum and Sologenic will be excluded from the airdrop, and any exchange or custodial company’s wallets will not release an official announcement to support the airdrop to their users. The team at Coreum would like to ensure the airdrop will go directly to the communities.

What’s next for COREUM?

The Core development team is constantly working on adding more features to the Coreum blockchain as well as monitoring and securing the network. After the mainnet launch, the team will focus on expanding the functionalities of Smart Tokens by adding more native features and support for different use cases. In the second development phase, the Core team will start developing the built-in full order-book DEX on the Coruem Blockchain. This allows all issued smart tokens on the chain to be seamlessly traded.

In addition, Coreum is anticipated to become the “Hub” for blockchain developers, allowing tokens to be issued on Coreum and flow through the Inter-Blockchain Communication Protocol (IBC) supported chains.

How to set up Trustlines?

CORE Holders

If you hold your CORE tokens on decentralized wallets like SOLO DEX and XUMM and you wish to participate in the CORE Airdrop, you can learn how to establish a trustline with Coreum gateway on the XRP Ledger here.

If you hold your CORE holdings on a centralized exchange, you need to contact your exchange to ensure they will support this Airdrop.

XRP and/or SOLO Holders

If you hold your SOLO and/or XRP tokens on decentralized wallets like SOLO DEX and XUMM and you wish to participate in the xCORE Airdrop, you should establish a trustline with xCORE gateway on the XRP Ledger. You can watch this example video here and change the parameters with the followings specs:

xCORE Gateway (Issuer): r3dVizzUAS3U29WKaaSALqkieytA2LCoRe
xCORE Currency Code: 58434F5245000000000000000000000000000000
Limit: 50,000,000

If you hold your XRP and/or SOLO holdings on a centralized exchange, you need to contact your exchange to make sure they will support this Airdrop for the XRP and/or SOLO holders on their exchange.

IMPORTANT NOTE: MAKE SURE TO SET UP YOUR TRUSTLINE WITH THE CORE AND/OR XCORE GATEWAYS BEFORE THE SNAPSHOT DATE AND TIME OF 24TH MARCH 2023, 4:00 PM UTC.

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February 17, 2025

The Dawn of DeFi: The Hidden War for a Decentralized Future

👉 DON'T FADE THIS ARTICLE~ Crypto Michael AKA "The Dinarian"

The below article is NOT financial advice, it is being broadcast for entertainment purposes only. You should DO YOUR OWN RESEARCH and NEVER invest any more than you are willing to lose. On that note, THIS ARTICLE AND THE UNDERLYING ASSET DISCUSSED COULD CHANGE YOUR LIFE FOR THE BETTER FOREVER! You SHOULD pay close attention as this MAY BE THE MOST IMPORTANT article you could ever have read, unless you were fortunate enough to read the Bitcoin whitepaper and had invested in it back in 2008. The asset I am about to present to you, COULD EASILY FLIP BITCOIN! ESPECIALLY WITH TODAYS ADMINISTRATION IN PLACE!
~ Namasté 🙏 Crypto Michael AKA "The Dinarian"

Attempted Theft of the World's Most Valuable Property, SEC Lawfare & The ETHgate Scandal

It is widely accepted that the media often spreads misinformation and hides any truth that challenge the establishments narratives. Well, this is one of those hidden truths...

Loans without Banks, Trades without Exchanges, Contracts without Lawyers. Peer to Peer Capital Markets disrupts traditional finance by removing middlemen and counter-party risk, enabling you to become your own bank by holding the keys to it all in your own privately held digital wallet.

To what lengths do you think the establishment would go to defend their control of the financial system? A system seemingly ripe with market manipulation, naked shorts, money laundering and regulatory capture.

The Myth of Open Source

For context, in the realm of open source, major corporations can engage in Intellectual Property theft by using open source projects to gain insights, technology, or legal protections without fully reciprocating to the community. Companies might contribute code to an open source project, only to later use that same code in commercial products, extending it with enhancements, essentially using open source as a low-cost R&D resource. Patents are crucial here, serving as a defense mechanism. Although open-source licenses cover copyrights, they don't extend to patents, meaning that companies holding patents can enforce legal protections against unauthorized commercial use, ensuring that any commercial application of their patented technology within open-source software requires proper licensing or recognition. This protection has historically led to the hyper-growth of industries like mobile phones and the internet, where patented technologies could be safely shared and built upon, promoting innovation and market expansion.

Validating Inventorship

In fields such as technology, pharmaceuticals, and manufacturing, patents are vital for safeguarding new inventions, with Nikola Tesla's extensive patent portfolio serving as a testament to his contributions to science.

However, Tesla's revolutionary inventions, like the Wardenclyffe Tower which aimed at providing free wireless energy, faced fierce opposition due to their potential to disrupt established control over energy markets. Financially sabotaged by investors like J.P. Morgan, legally challenged through "the war of currents" by Thomas Edison's promotion of the less efficient Direct Current system, and undermined by media smear campaigns, Tesla's work was systematically suppressed. After his death, the FBI's seizure of his documents further suggests efforts to control or conceal his ideas that could disrupt centralized energy distribution, illustrating how innovation can be stifled to maintain existing power structures.

Could this type of suppression still be happening today?

The Genesis of Decentralized Finance

Reggie Middleton first introduced Distributed Finance what would later become known as Decentralized Finance (DeFi), in 2013 when he invented and patented technologies under the title "Devices, systems, and methods for facilitating low trust and zero trust value transfers." This included groundbreaking concepts like programmable Smart Contracts, Swaps, Tokenized Assets, NFTs, Stable Coins, Digital Wallets, and even underpin Central Bank Digital Currencies (CBDCs).

https://patents.google.com/patent/US11196566B2/en?oq=US11196566+

Called by many as "The Most Valuable Property in the World", his patents US11196566B2, US11895246B2, JP6813477B2, JP7204231B2, JP7533974B2, & JP7533983B2 have been cited over 138 times by major financial institutions, underscoring their foundational role in the blockchain industry.

His patents cover:

Trustless Peer-to-Peer Value Transfers: Systems for enabling decentralized and secure value transfers between parties without the need for intermediaries. Applicable to cryptocurrency transactions, DeFi platforms, and digital payment systems.
Decentralized Financial Systems (DeFi): Methods and devices that facilitate decentralized trading, lending, borrowing, and yield generation. Impacting decentralized exchanges (DEXs) like Uniswap, SushiSwap, and similar platforms.
Smart Contracts: Implementation of self-executing contracts on blockchain networks, used to automate agreements and enforce conditions without intermediaries. Essential for platforms such as Ethereum, Cardano, and other Layer-1 and Layer-2 blockchain protocols.
Tokenized Asset Trading: Methods for creating, transferring, and trading tokenized assets, including cryptocurrencies, non-fungible tokens (NFTs), and digital securities. Platforms like OpenSea, Rarible, and asset tokenization platforms may fall within the scope.
Cryptographic Security and Wallet Systems: Systems for securing digital assets using cryptographic methods, including cold storage, multi-signature wallets, and multi-party computation (MPC). Potential overlaps with services offered by companies like Coinbase, Kraken, Gemini, and institutional custody providers.
Decentralized Identity and Verification Systems: Technologies for managing and verifying digital identities on decentralized networks, including for KYC (Know Your Customer) purposes. Likely touching on identity solutions like Civic, BrightID, and Blockstack.
Blockchain-Based Voting and Governance: Systems for implementing decentralized voting, governance, and consensus mechanisms, foundational to DAO (Decentralized Autonomous Organizations). Relevant to governance platforms like Aragon, Snapshot, and MakerDAO.
AI Economic Agentic Computing: First introduced by the VeADIR Platform refers to the application of autonomous agents in economic systems, where software entities can make decisions, negotiate, and execute transactions independently. These agents use artificial intelligence to analyze market data, predict trends, and optimize economic activities like trading, resource allocation, and supply chain management. Used by OpenAi, Claude Sonnet, Meta and xAI.

The societal value of these patents to disrupt traditional financial models and fintech business practises, by essentially removing the banks as middlemen, create significant economic incentives to suppress his work.

True Decentralization

Current Decentralized Exchanges (DEXs) often fall short of being truly decentralized due to various practical and structural limitations. Although DEXs leverage blockchain technology and smart contracts to enable trading without a central authority, aspects like governance, liquidity, and user interface can introduce centralization. Governance tokens might be concentrated in the hands of a few, influencing decision-making unevenly. The frontend, controlled by developers, represents a centralized point of control or potential failure. Liquidity pools can be dominated by a handful of large providers, leading to centralized liquidity dynamics. Some DEXs implement regulatory compliance like KYC/AML, which inherently involves centralized oversight. The use of layer-2 solutions for scalability might also undermine decentralization if not fully autonomous.

However, patents like US11196566B2 and US11895246B2 could pave the way for true decentralization by introducing innovations in blockchain interoperability and decentralized governance mechanisms. These patents potentially offer solutions for more evenly distributed control over exchange operations, enhancing the autonomy and distribution of decision-making, thus moving closer to genuine decentralization in the DEX ecosystem, which can be expanded to other industries like Healthcare, Supply Chain, or any other industry that trades value.

Who is Reggie Middleton?

Reggie Middleton, through his BoomBustBlog, became a notable figure in financial analysis, particularly for his early and accurate predictions regarding the collapses of Lehman Brothers and Bear Stearns during the 2008 financial crisis. His blog was renowned for providing in-depth, contrarian insights into economic trends, investment opportunities, and corporate vulnerabilities. Reggie won the CNBC's stock draft consecutively for two years, and appeared on major financial news networks like CNBC, BBC and Bloomberg where he discussed market trends, his forecasts, and the implications of financial strategies adopted by major firms. His track record has undeniably positioned him as a significant voice in the financial commentary space.

Reggie's work gained public attention when he appeared on the Keiser Report and CNBC in 2014, premiering his innovations built on the Bitcoin blockchain called "Ultracoin", two years before Ethereum captured the crypto limelight.

His vision was to create sound markets for a financial ecosystem where loans could be issued without banks, trades executed without exchanges, and contracts enforced without lawyers, aiming to disintermediate traditional finance by removing the middleman that doesn't add value.

In 2014, Reggie pioneered a simple Apple trade using a Pure Bitcoin Wallet: The Ultracoin Client.

Ultracoin later renamed VERI short for “Veritaseum” meaning "of truth", was the

first to market in tokenizing precious metals, offering VeGold, VeSilver and even tokenized fiat currencies or so called "Stablecoins". Veritaseum also introduced VeRent creating yield through P2P lending, and the revolutionary VeADIR platform, an autonomous, blockchain-powered research platform that independently evaluates and acts on dynamic research in real-time, communicates in machine language, and operates by purchasing, analyzing, and distributing insights on various assets while allowing VERI token holders to access and trade this research.

In 2018 he created the worlds first Gold Denominated Blockchain Mortgage

with traditional written note, mortgage as well as a smart contract on a public blockchain, both of whom incorporate each other by reference. The transaction had traditional title insurance and the note was recorded with the county clerk. The mortgage was denominated in Veritaseum's VeGold product, a digital form of gold in bearer form, fully transferable and redeemable upon demand.

Merely a few examples of groundbreaking products offered by Veritaseum.

Coinbase's Challenge: The Patent Infringement Suit

Coinbase, a dominant force in the cryptocurrency exchange market, enlisted the services of Perkins Coie, one of the largest patent law firms, to contest the validity of Reggie Middleton's patents.

They launched an Inter Partes Review (IPR) at the Patent Trials and Appeals Board (PTAB), arguing that Middleton's patents lacked novelty. An overwhelming 85% of patents are invalidated through this process. However, Coinbase's challenge was denied along with the appeal, thereby upholding and strengthening the validity of Reggie's patents.

This IPR challenge came after Veritaseum sued both Coinbase and Circle USDC for $350 million each over patent infringement. Unfortunately, Reggie's patent attorney and close friend passed away during this suit, so the cases has been dismissed without prejudice, meaning they can be negotiated or the cases reopened at any time. This leaves Coinbase in a precarious position, especially if shareholders have not been properly informed of this risk.

This lawsuit details how Coinbase's infrastructure, specifically its Ethereum and Solana validator nodes, engage with client devices to facilitate transactions. Exhibit #3 meticulously outlines the patent's claims, detailing the roles of computing devices, the use of memory for key pair storage, network interfaces for transaction terms, and the generation and dissemination of transaction data records. It provides concrete examples such as the processing of NFT transactions on Ethereum and the management of transaction fees on Solana, supported by in-depth references to code and API interactions. Furthermore, the exhibit explains the verification of transactions through an external state, illustrating how Coinbase's technology aligns with the patent's principles for decentralized transaction processing without a central authority.

SEC's Intervention: A Turning Point

In 2019, with promising negotiations on the horizon with both the Jamaican and the Nigerian Stock Exchanges for digital asset platforms, Reggie's world was turned upside down.

The SEC accused Reggie of fraud, alleging he misled investors about the functionality of Veritaseum's VeADIR platform, which the SEC ordered to be shut down following a live demonstration. The SEC also made claims on the validity of Reggie's patent applications, which have since been approved by both the USPTO and the Japan Patent Office. Oddly enough, the SEC may actually infringe on these very patents through the disgorgement and storage of seized crypto tokens.

Despite Veritaseum's cooperation with the SEC over a two-year period, along with a detailed response addressing the SEC's allegations, and not one token holder claiming to be defrauded, these allegations still led to a Temporary Restraining Order (TRO) that froze millions in assets, destroying the company's operations, and forcing a consent judgment "neither confirming or denying the allegations". The SEC would top it all off with a gag order that barred Reggie from publicly discussing the matter.

Keep in mind, the SEC is claiming jurisdiction by calling Utility Tokens "Digital Asset Securities" but recently SEC Commissioner @HesterPeirce stated:

"...by using imprecise language we've been able to suggest the token itself is a security, apart from that investment contract, which has implications for Secondary Sales, it has implications for who can list it...

We've fallen down on our duty as a regulator not to be precise. So, tucking into a footnote that yes we admit that now that the TOKEN ITSELF IS NOT A SECURITY, that is something we should have admitted long ago and then started wrestling with the difficult questions."

This calls into question if the SEC even had jurisdiction to bring forth this case to begin with. The Veri Community would later challenge the SEC's unproven allegations against Reggie with

a Dossier supporting the Vacating or Setting Aside of this case, and suggesting possible misconduct by the SEC.

Allegations of SEC Misconduct:

Misrepresentation of Facts: Assertions that the SEC deliberately mischaracterized the
functionality of the VeADIR platform, along with the patents and their value, by labeling them as lacking novelty and part of fraudulent activities.
Misleading Evidence: The SEC's use of declarations from Patrick Doody and Roseann Daniello, which contained misleading information about the personal ownership of a Kraken account used to misappropriate funds. Doody would later correct his statement, but the SEC did not update the court with this new information, potentially misleading the judicial process.
Conflict of Interest: Doody's undisclosed financial interests in the digital asset space through Lily Pad Capital LLC could suggest a bias in his testimony, which was pivotal in obtaining the TRO.
Coercion and Intimidation: Witnesses like Lloyd Cupp and John Doe provided affidavits claiming coercion by SEC attorneys to alter their testimonies, pointing towards witness tampering and intimidation.

FOIA Responses: The SEC's FOIA department initially denied any communications with Kraken, only later admitting to subpoena issuance, suggesting an attempt to obscure facts.
RICO Allegations: A 95 page RICO Dossier, supported by extensive evidence, alleges that the SEC's actions could resemble an organized crime syndicate, with systemic coercion, misrepresentation, and procedural misconduct aimed at Reggie Middleton.
Bar Complaint: The Veri community lodged a Bar Complaint against the SEC's Lead Attorney
over the use of misleading evidence, coercion and intimidation of witnesses.

Summary Articles of the B ar Complaint and RICO Dossier

Comparisons with the SEC Misconduct in the DEBT Box Case

The DEBT Box case shares a troubling parallel with the Veritaseum case. In both cases a Temporary Restraining Order (TRO) freezing funds was issued using dubious evidence which suppressed the ability to defend themselves. This behavior was already admonished by five US Senators

in a letter to Commissioner Gary Gensler in which the SEC presented misleading claims in this now high-profile cryptocurrency case.

"Regardless of whether Commission staff deliberately misrepresented evidence or unknowingly presented false information, this case suggests other enforcement cases brought by the Commission may be deserving of scrutiny. It is difficult to maintain confidence that other cases are not predicated upon dubious evidence, obfuscations, or outright misrepresentations."

Given the similarities in alleged procedural misconduct between the cases, it raises systemic questions about the SEC’s litigation approach in cryptocurrency matters.

This parallel underscores a potential agency-wide issue that could involve either implicit biases against crypto companies or an explicit strategy to pursue aggressive, potentially misleading tactics in court.

Is The Fox Guarding the Hen House?

In a significant development, the Attorney Grievance Committee (AGC) has decided to forward a complaint against SEC attorney Jorge Tenreiro to the SEC's Office of General Counsel (OGC) for investigation. This controversial move suggests a potential conflict of interest, given that the OGC is part of the SEC, the very agency where Tenreiro was recently promoted to Chief Litigation Counsel. The complaint, filed by the Veri community, accuses Tenreiro of misconduct including alleged coercion, witness tampering, and misrepresentation during SEC investigations. The Veri Community argues that this decision undermines the integrity of the legal process, as the OGC's role is to provide legal advice and defend the SEC, not to independently investigate its own employees. This raises questions about the impartiality and transparency of the disciplinary process for attorneys, especially when it involves high-profile figures like Tenreiro.

"As noted in re Rowe, 80 N.Y.2d 336 (1992), the public’s confidence in the legal profession depends on transparent and impartial disciplinary processes. Delegating oversight to the SEC, where Mr. Tenreiro remains a senior official and where the OGC has a clear institutional stake, jeopardizes this confidence and risks the appearance of protectionism.”

The VeriDAO has submitted a response letter to the AGC along with creating a PDF generator
to help the estimated 100 complainants and anyone else interested in requesting the AGC to reconsider this action.

Legal and Judicial Trials

The legal battles would only continue for Reggie. The case of Hall v. Middleton, in which Hall, a 1% shareholder sued Reggie, raises concerns of judicial bias and procedural mishandling. In this case, Reggie was denied Due Process and barred from presenting crucial evidence or calling witnesses due to his former attorneys' "Office Failures" that missed deadlines to submit evidence without the knowledge of Reggie or the firm Brundidge & Stanger that outsourced his counsel as detailed in their affirmations.

"In my many years of practice it is a rare instance where I have witnessed an attorney intentionally not file critical documents as required by Court Order without the permission or knowledge of his client, who had an established and fully developed attorney client-relationship with said attorney, and then misrepresent that the requirements of the Court Order were being satisfied. This is one of those instances and I hope not to see another."
~ Carl Brundidge

The judge ruled that Reggie must:

Pay a $1M fine to his company Veritaseum Inc., in which he owns 99%
The plaintiff was awarded costs of $495k against Veritaseum Inc.
The Judge ordered Patents (filed before the creation of Veritaseum Inc.) to be assigned to the company without compensation.

Attorney's "Office Failures":

Sheridan England missed critical deadlines, resulting in the striking of exculpatory evidence. England’s inaction or inadequate defense exacerbated Middleton’s legal vulnerability, directly leading to adverse outcomes.

Judge Schecter’s Conduct:

Ignoring Exculpatory Evidence: Despite knowledge of its existence, Schecter struck Middleton’s post-trial memorandum.
Procedural Bias: The judge’s decisions systematically favored Hall, including allowing him to collect attorney fees from Middleton personally, contrary to the principles of derivative law.
Forced Patent Transfers: Schecter’s order to transfer patents to an underfunded entity (Veritaseum) which were court restrained by the same judge, rendering them defenseless against attacks and IP theft.

This ordeal was compounded when Reggie was held in Contempt for using personal funds (while Veritaseum’s funds were court-restrained) to successfully defend his patents against an IPR challenge by Coinbase in the PTAB of the USPTO in an attempt to invalidate these patents. The Forced Patent Expropriation to Veritaseum without compensation or the ability to defend them could be seen as coordinated as it benefited very large competitors seeking to avoid licensing fees or infringement claims, or possibly even IP Theft.

Judicial Complaint: A formal complaint has been filed with the NYS Commission on Judicial Conduct by the Veri Community.

ETHgate: The Broader Conspiracy Allegations

Parallel to Middleton's struggles, "ETHgate" emerged, involving allegations by Ethereum co-creator @StevenNerayoff. Nerayoff claimed a government conspiracy aimed at controlling or monopolizing cryptocurrency development by targeting key figures. This narrative suggested that by attacking innovators (like Reggie Middleton as the Veri Community contends), the SEC might have indirectly cleared a path for Ethereum, which, despite its decentralized claim, benefited from a regulatory environment less scrutinized than its competition.

The term "ETHgate" encapsulates the belief that Ethereum's "Free Pass" from regulatory scrutiny might not just be due to its technological merits but also due to strategic regulatory maneuvers, where attacking smaller or less established DeFi projects could safeguard larger, more influential platforms like Ethereum.

Back in 2021, @JohnEDeaton1 from @CryptoLawUS explained XRP's side of Ethereum's "Free Pass". More recently, further SEC RICO Claims are insinuated in "RIGGED from the start" a documentary by @Fruition_News , along with posts by @KuwlShow and the XRParmy involving the SEC, Ethereum, a16z, and Consensys surrounding the Bill Hinman speech. Active FOIA requests by @EleanorTerrett seek to shed light on meetings between Hinman and Ethereum members.

Given the SEC protection of ETH and the high probability of Ethereum infringing on Reggie Middleton's patents as meticulously detailed in Exhibit #3 of the Coinbase case, is it ridiculous to believe Reggie Middleton could have been targeted?

Community Support: The Backbone of Resilience

Despite the SEC's narrative labeling them as "The Defrauded," the Veritaseum community rallied around Reggie.

SmartMetal with embedded NFT avalaible through VeriDAO.io

Financially devastated and with his funds frozen, Reggie faced foreclosure and was threatened with jail time after contempt charges for defending his patents using personal funds. In a remarkable show of support, the Veri Community rallied, raising an impressive $149,000 in less than two weeks to cover the fine while the case is under appeal.

They funded legal battles largely through donations and more recently with innovative means like NFT silver rounds called SmartMetal using Reggie's patented technologies, underscoring their belief in his vision. The first minted round was auctioned off for an astonishing $14,000 won by "M S"

"There is no better witness to the veracity of any defense than the alleged defrauded defending the alleged fraud at their own expense"
~ The Veri Community

This community support was not just financial but also moral, with efforts such as an Amicus Brief in the case against XRP, a No Action Letter (NAL) seeking clarity on secondary market sales of tokens, a Bar Complaint against the SEC's newly promoted Chief Litigation Counsel, and the @dao_veri's

#ProjectSunlight The SEC RICO Revelation.

A Call for a New Regulatory Paradigm

Reggie Middleton's saga is emblematic of the challenges faced by pioneers in the blockchain and DeFi arenas. His patents, now granted, underscore their foundational nature, yet the path to their recognition was marred by legal battles, suggesting a systemic issue where the regulatory framework might not fully comprehend or support emerging tech. His resilience, supported by an unwavering community and the validation of his intellectual property, underscores the need for a regulatory environment that fosters rather than stifles innovation. As blockchain technology continues to evolve, Reggie's story serves as a critical reference for balancing innovation with legal and ethical governance, ensuring that the future of finance remains open to all, not just those with the resources to navigate the legal maze.

For more information visit https://veridao.io/

I know what everyones question is, "HOW CAN I GET MY HANDS ON THE $VERI TOKEN BEFORE EVERYTHING GETS REVERSED AND RELEASED BACK TO THE COMMUNITY?"

Your in luck: Mark is a trusted source, longtime Veri Vet that beta tested the VeADIR platform. Simply follow the thread below. I highly advise picking up a few, and tuck them away! This is the token that could literally FLIP BITCOIN $100k and beyond!

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