User:Adjoajo/reggie

Reginald Middleton is an American entrepreneur, investor forecaster, global macro investor and analyst. He is the inventor of P2P (Peer-to-Peer) Capital market distributed finance aka Decentralized finance (DeFi). He is founder and CEO of Veritaseum. Middleton is known for being a fintech pioneer Financial technology in emerging technology and economics.

Background
Middleton graduated from Howard University in Washington, D.C. After graduating from Howard University he worked for Prudential Insurance in sales and financial productions. He has worked in financial securities, risk management, and residential real estate.

Career
Middleton is known for his investment forecasting. He predicted the crash of the 2007 markets, and in 2008 warned of the collapse of Bear Stearns before it happened.

Middleton is the owner of two patents approved in Japan, and in the United States.

In 2013, the founder of DeFi Patent US11196566, and JP6813477. Patents for the technology for what became known as decentralized finance. Middleton's patents entitle him to receive licensing fees for blockchain products and services that fall under his registered ownership and intellectual property rights protection.

Middleton in 2007, founded Boom Bust Blog a financial blog.

In February of 2013, Middleton won the CNBC’s stock draft contest against six other expert merchants.

In 2014, he won a second CBNC stock draft contest against other expert members.

In 2014, he founded Veritaseum, which is the progenitor of Ultra-Coin Technology.

Legal issues SEC in the United States
On August 12, 2019, SEC filed a complaint against Veritaseum, Inc., Veritaseum, LLC, and Reginald Middleton. SEC v. Middleton, et al. Case No. 19-cv-4625 (E.D.N.Y.)

The complaint alleged the defendants raised millions of dollars in virtual currency from unregistered sales of securities. On August 12, 2019, the Commission filed a complaint (the “Complaint”) against Veritaseum, Inc. and Veritaseum, LLC ("Veritaseum"), and their owner, Reginald Middleton ("Middleton") (collectively, the “Defendants”). In the Complaint, the Commission alleged the Defendants fraudulently raised millions of dollars in virtual currency from the unregistered sales of securities called "VERI". In the claim it stated that their were a series of false and misleading statements about potential and actual investors. Misrepresentations about the potential profitability and viability of Veritaseum's operations.

The court entered a final judgement on November 1, 2019. The judgement ordered the Defendants to pay $7,891,600 in disgorgement, and $582,535 in prejudgement interest. Middleman to pay $1,000,000 for a civil penalty.

The defendants don't have to pay ordered judgment if certain assets and precious metals are transferred to an intermediary chosen by the SEC. While this sounds like a really onerous payment obligation, the defendants don’t actually have to pay this if they transfer certain assets, by the terms of the Order. Specifically, both the disgorgement and the civil penalty are satisfied if certain assets (including a bunch of precious metals) are transferred to an intermediary chosen by the SEC.

People in the cryptocurrency community think that Middleton was unfairly singled out by the Securities and Exchange Commission (SEC).