Daily News Digest Featured News

Friday January 26 2018, Daily News Digest

bitcoin buyers
Source: https://www.bloomberg.com/news/articles/2018-01-24/a-look-at-who-owns-bitcoin-young-men-and-why-lack-of-trust?utm_content=markets&utm_campaign=socialflow-organic&utm_source=twitter&utm_medium=social&cmpid%3D=socialflow-twitter-markets

News Comments

United States

China

International

India

APAC

Canada

Russia

South America

Caribbean

News Summary

United States

BitConnect’s ‘Crypto-Wonderland’ Hit With Investor Lawsuit (Bloomberg), Rated: AAA

BitConnect invited people to exchange their Bitcoins for its own digital currency. Those coins would subsequently be lent out, and investors would collect the interest. But according to a class action complaint filed Wednesday in federal court in West Palm Beach, Florida, “things at BitConnect weren’t what they seemed to be.” The site’s promoters “illogically promised” monthly returns of 40 percent, and 1 percent compounding interest daily, regardless of market performance, the plaintiffs said.

The investors’ world exploded this month after authorities in North Carolina and Texas issued cease-and-desist letters warning BitConnect that it wasn’t authorized to sell securities in those states. BitConnect shut its lending business down, blaming the regulators and “continuous bad press,” sending the value of its coins into a tailspin. On Jan. 6, its market cap was $2.6 billion; it’s down to $128 million now, according to CoinMarketCap.

Telegram’s ICO: Give us $ 2 billion and we’ll solve all of blockchain’s problems (MIT Technology Review), Rated: AAA

In planning a $2 billion initial coin offering that’s meant to launch this month, messaging service Telegram isn’t just looking for a quick boost in value.

But investors’ excitement about Telegram’s offering could be more than froth. Telegram already has more than 100 million users on its encrypted messaging service. Such a clientele also makes a lot of sense for censorship-resistant applications like decentralized file storage, anonymous browsing, and cryptocurrency micropayments—all of which appear in a leaked white paper describing the so-called Telegram Open Network (TON).

Silicon Valley investors line up to back Telegram ICO (Financial Times), Rated: A

Some of Silicon Valley’s leading investors are lining up to buy into a much-hyped initial coin offering by Telegram, the encrypted messaging service that is seeking $1.2bn to build a virtual economy within its app.

Venture capital firms Kleiner Perkins Caufield & Byers, Benchmark and Sequoia Capital have each told the company they want to invest $20m, according to three people with knowledge of the deals.

Bitcoin: Not A Store Of Value But A Creator Of It, And Perhaps Not A Bubble After All (Seeking Alpha), Rated: AAA

It’s been a difficult several weeks for Bitcoin (COIN). The coveted digital asset has fallen by nearly 50% in the last 5 weeks, erasing roughly $140 billion of its market value in the process.

bitcoin
Source: Seeking Alpha

Impressively, if you’d invested $1,000 in MSFT in 1986 you would have over a million dollars today. Even more impressively, if you had invested $1,000 in Berkshire in 1964 you would have a whopping $17 million today. However, if you had gotten into Bitcoin when Laszlo Hanyecz made his now infamous two pizza purchase using 10,000 BTCs your $1000 investment would have shot up by 500,000,000% and would be worth a mind blowing $5 billion today.

The dollar is essentially rolling over. The US Dollar Index is down by well over 10% in the last year while Bitcoin is up by roughly 1,000%.

dollar
Source: Seeking Alpha

This Chart Shows Who Really Is Buying Bitcoin (Money), Rated: A

Nearly 60% of Americans have heard or read about the world’s largest cryptocurrency, according to a joint SurveyMonkey and Global Blockchain Business Council poll of more than 5,700 adults conducted in January. But only 5% of people actually own the digital coin.

An overwhelming 71 percent of them are male. The majority—58%—are young, between the ages of 18 and 34 years old. And unlike the broader U.S. population, nearly half of them are minorities.

bitcoin buyers
Source: https://www.bloomberg.com/news/articles/2018-01-24/a-look-at-who-owns-bitcoin-young-men-and-why-lack-of-trust

How CoinMarketCap Contributed To Cryptocurrency Price Crash (Investopedia), Rated: AAA

Part of the reason for the recent crash in cryptocurrency markets was CoinMarketCap.com’s decision to exclude South Korean exchanges from its listings.

WSJ article published this week provides additional details regarding the founder’s thought processes during that period.

George Soros From Davos: Bitcoin Is A ‘Typical Bubble’ (Forbes), Rated: A

Legendary investor George Soros joined a chorus of well-known investors calling bitcoin a bubble this week, making his remarks in a speech at the World Economic Forum in Davos, Switzerland Thursday.

“Bitcoin is not a currency because a currency is supposed to be a stable store of value and the currency that can fluctuate 25% in a day can’t be used for instance to pay wages because wages drop by 25% in a day. It’s a speculation. Based on a misunderstanding,” he added.

Cryptocurrencies not yet in ‘dotcom bubble territory,’ experts say (CNBC), Rated: A

Cryptocurrencies are not in “dotcom bubble territory” in terms of market capitalization, a venture capitalist said at the World Economic Forum (WEF) on Thursday.

Market capitalization refers to the value of all cryptocurrencies in existence. This currently stands at about $544 billion, according to data from Coinmarketcap.com, a website that tracks cryptocurrency prices.

Robinhood, the Investing App for Millennials, to Add Bitcoin and Other Cryptocurrencies (Fortune), Rated: AAA

Starting in February, Robinhood will let customers buy bitcoin, Ripple, and 15 other cryptocurrencies using the same streamlined, no-commission approach it offers for stocks.

The move is significant for cryptocurrency markets because Robinhood has 3 million users with a median age of 26, a demographic considered to be especially enthusiastic about bitcoin and other types of digital money.

Robinhood said users will be immediately be able to track market data for the 16 cryptocurrencies—which also include the likes of Litecoin, Ethereum, and Ripple—and to read crypto news and set price alerts.

Ripple and Coinbase investor Greg Kidd backs digital money platform Uphold (Finextra), Rated: A

Uphold, the digital money platform, today announced that it has entered into a $57.5 million partnership with Greg Kidd, investor in Ripple, Square, Coinbase and others, to increase its loss assurance for consumers to around 20% of total current crypto holdings – an industry-leading move where most companies offer little or no consumer coverage.

Greg Kidd will also join Uphold’s Board of Directors.

3 Reasons Ripple Investors Should Be Very Worried (The Motley Fool), Rated: AAA

Having begun the year with a combined market cap of $17.7 billion, cryptocurrencies ended the year with an aggregate value of $613 billion. That’s an increase in value of more than $3,300%.

Aside from bitcoin itself, blockchain is the main reason why cryptocurrencies continue rallying.

Ripple emerged from bitcoin’s shadowto explode higher by nearly 50,000% in a span of about 53 weeks. The jump in Ripple was almost entirely tied to its blockchain.

Ripple’s investors still have a lot to be worried about. In no particular order, here are three main concerns.

  1. Big banks are developing their own blockchain
  2. Ripple’s valuation is questionable with only two real-world tests in its pocket
  3. Ripple’s blockchain may not be superior

Blockchain Adoption: How Close Are We Really? (Forbes), Rated: AAA

The Diffusion of Innovation Theory, first postulated by Everett Rogers in 1962, explains how an idea, product, or behavior takes root in society through different segments of a population. It starts slowly at first with the “innovators” and “early adopters,” who make up just 16% of the population; these are the intrepid individuals who see opportunities before they are there, who are willing to experiment, take huge risks, and change the status quo.

diffusion of innovation
Source: Forbes

Where, then, should we situate blockchain on this curve? Many believe we are already in the “early majority” phase of exponential growth, and that we are on the cusp of full adoption.

Developments And Adoption Of Blockchain In The U.S. Federal Government (Forbes), Rated: A

In one of the first contract awards for blockchain technology implementation for the U.S. government, the Department of Homeland Security awarded a blockchain contract to “Prove Integrity of Captured Data From Border Devices.”

The Food & Drug Administration issued a “sources sought” notice late in 2017 for an application of blockchain.

The U.S. Department of Defense Transportation Command also showed a recent interest in blockchain centered on an innovative use of distributed ledger capabilities.

22X Fund Offers Tokenized Opportunity To Invest In Startups (Entrepreneur), Rated: A

30 tech startups from over 14 countries that are part of 500 Startups’ summer 2017 program in San Francisco have announced a ICO called the 22X Fund, a token offering that enables investors to invest in and own up to 10% equity in the group of startups.

Ex-Goldman Banker Plans Launch of Crypto Repo Platform (cryptovest), Rated: A

Alex Grebnev, formerly a banker at Goldman Sachs, wants to create a cryptocurrency platform that would help traders short one cryptocoin against another, the Wall Street Journal reports. Under this plan, the platform is set to launch in 2018 and target private and institutional investors seeking to cut repurchase agreements (repos) among themselves.

Growprocess Announces Plan to Launch “Phytocoin”, Cannabis Commodity Backed Initial Coin Offering (GlobeNewswire), Rated: A

Growprocess, Inc. (“Growprocess” or “the Company”), a privately held Blockchain and cannabis compliance advisory firm, is pleased to announce that the company is preparing to launch its cannabis-derivative, commodity-backed token called Phytocoin.  The Company looks to raise up to $10 Million through its Initial Coin Offering (ICO) anticipated to launch in early 2018.  Unlike a conventional ICO token, Phytocoin will be backed by underlying assets in a strategy designed to cut down on the inherent volatility and risk of a non-collateralized token.

BAIC founder Terry Tan: Creating a new world through AI, IoT and blockchain (PR Newswire), Rated: A

BAIC (Blockchain of AI and IoT) is a decentralized platform with the aim of promoting data interconnection, transaction settlement and smart contract between IoT and AI. BAIC believes that the data generated by human activity and the biological signals that are generated by the activity, representing all forms of labor, will become the value basis of the future AI world. BAIC’s goal is to integrate AI, data and IoT by leveraging the BAIC value chain.

With data as its core value, BAIC provides end-to-end handling of data storage, data trading and data collection. Based on directed acyclic graph or DAG technology, the platform uses IoT devices and equipment as nodes to validate transactions, and, by amassing and collecting together nodes, can generate huge amounts of computing power, provide the critically-needed security, set up the reimbursement mechanism and reduce transaction barriers through a flexible charging mechanism for fees.

With the aim of promoting data trading and settlement between IoT devices and AI applications and encouraging consumers to share their data, the BAIC community launched a blockchain technology-based point token system based on incentives and the circulation of the value provided by IoT data.

6 New Cryptocurrencies That Should Be On Your Radar (Inc.), Rated: A

dock.io, which is scheduled to hold its ICO in February, offers a blockchain based mechanism for storing and accessing user information, thereby improving on the way that apps access user data and communicate with one another.

Gladius, which recently raised $12-Million in its ICO, offers a decentralized, blockchain based technology that both protects against DDoS attacks and accelerates the delivery of content.

Eristica, which is presently offering tokens in an ICO, offers a platform for people to challenge one another to perform stunts and the like, with smart contracts guaranteeing payment if a challenge is deemed to have been successfully completed – as judged by the global community of Eristica token holders (presumably, the distribution of tokens will be large enough to prevent gaming of the system by parties holding large amounts of tokens in numerous wallets).

Safein, which is planning to ICO this quarter, is creating a blockchain-based federated identity system intended to eliminate the extremely redundant process with which we are all familiar of  creating separate accounts for essentially every website, app, and vendor with which we interact.

Knowbella is a new platform for crowdsourcing dormant and open intellectual properties, which, together, form a multi-trillion dollar underutilized (if not unused altogether) resource of humanity.

ClearCoin, which, as I write this article, is in the middle of an ICO in which it claims to have already raised $2.83 Million, offers a blockchain-based system for connecting advertisers and publishers, providing, without a middle party, an interface for real-time buying and selling of media.

Surge Blockchain Partners with Oklahoma Municipal League (GlobeNewswire), Rated: A

Surge Holdings, Inc.; a company whose subsidiaries operate in various sectors including Blockchain Technology Software, Telecommunications, Social Media Marketing and Cryptocurrency Mining; announced that its wholly owned subsidiary, Surge Blockchain, has signed an agreement to partner with the Oklahoma Municipal League (OML) in facilitating utility payments for up to 1.7 million households across the state. The Surge Blockchain software platform licensing technology will assist residents of Oklahoma in making more convenient and timely payments while increasing revenue assurance for Utility companies.

This Blockchain Project Will Build a Prediction Market for Users (BusinessWire), Rated: A

UGC Network, a decentralized social publishing network and a content value prediction platform, was launched on January 22, 2018 in San Francisco. To solve the problem of too much low-quality information, UGC Network helps users to price the content by creating a prediction market.

In UGC Network, after the price is set by free markets, contributors of the high-quality content could earn money for their work, including users who created and discovered the content as well.

Op-Ed: The Weiss Cryptocurrency Ratings Are Laughably Bad (Bitcoin Magazine), Rated: A

According to Morgan Stanley, 100 crypto hedge funds have been launched, with 84 of them starting out just last year.

I’ll get to the specific issues with the Weiss Cryptocurrency Ratings, but first I need to point out that the low quality of these ratings is merely an illustration of the current hysteria around cryptoassets more generally.

Weiss Ratings has a long history as an independent ratings agency covering traditional assets, but it’s clear they don’t understand Bitcoin at all.

There was so much disagreement with Bitcoin’s initial rating in the Weiss Cryptocurrency Ratings that Weiss Ratings made a blog post explaining their reasoning behind the rating.

The clearest indicators that the Weiss Cryptocurrency Ratings are complete hogwash are found when you compare some of the ratings on the list.

For example, Zcash and SmartCash have the same rating.

Wyoming Lawmakers Want Exemptions for ICO Utility Tokens (CoinDesk), Rated: B

Lawmakers in Wyoming have filed a bill that, if approved, would exempt some creators and sellers of blockchain tokens from securities regulations.

Lawmaker Says ‘Tennessee Is Ready for Blockchain’ at Bill Hearing (CoinDesk), Rated: B

A bill to recognize blockchain signatures as legal electronics records could move swiftly through Tennessee’s legislature, lawmakers suggested during a hearing on Wednesday.

SEC: initial coin offering of Calata’s Krops illegal (Inquirer.net), Rated: B

The Securities and Exchange Commission (SEC) has declared as “illegal” an initial coin offering (ICO) or sale of tokens being undertaken by Krops, an online marketplace for farm produce led by controversial businessman Joseph Calata.

Treasury Secretary Mnuchin explains why he’s really looking closely at bitcoin (CNBC), Rated: B

“My No. 1 focus on cryptocurrencies, whether that be digital currencies or bitcoin or other things, is that we want to make sure that they’re not used for illicit activities,” Mnuchin told CNBC.

China

CHINESE OFFICIAL: NEW REGULATIONS FOR 2018 MAY END ICO BAN (Bitcoin News), Rated: AAA

China’s People’s University Law School vice-president Yang Dong has let slip the country is preparing new regulation on cryptocurrency and ICOs for 2018.

Speaking at the Southeast Asia Blockchain Summit, Yang, who is also director of the Center for Financial Technology, further “denied” a blanket ban on cryptocurrency trading and ICOs would continue indefinitely.

International

How Wanchain is Rebuilding Finance with Private Cross-chain Smart Contracts (CryptoSlate), Rated: AAA

As more blockchains are created, the need for cross-chain smart contracts becomes significantly greater.

The Wanchain initial coin offering began in October 2017 and hit its hard cap almost immediately. Their fundraising goal was $36 million USD and they sold a total of 107,100,000 tokens for $0.34/token.

Of the total tokens available, 51%, were made available with 42 million saved the development team and 39.9 million to the Wanchain Foundation.

According to the product roadmap, developers will launch Wanchain 3.0 with Bitcoin integration, and the Wanchain 4.0 will likely come in 2019 and will include alliances with other private chains.

wanchain
Source: CryptoSlate

Ripple Wants XRP to Be Bitcoin for Banks. If Only the Banks Wanted It (Bloomberg), Rated: AAA

Every day, companies and consumers around the world send more than $76 billion in payments through a vast network of banks.

One rationale for buying XRP is that unlike Bitcoin, the token has one narrowly defined but clearly useful purpose: to help banks move cash from point A to point B faster and more cheaply, especially across borders.

The problem is that banks say they have no interest in using XRP. Current and former executives at seven global banks—some of whom have partnered with Ripple—say there was scant chance they would ever entrust their corporate clients’ payments to a cryptocurrency.

There are 100 billion of the tokens and, according to Ripple’s website, the company holds about 61 billion—with a value of $1.31 each on Jan. 25, or about $80 billion total. Most are held in escrow and can be sold only in limited chunks over time to avoid crashing the market. Ripple has sold more than $185 million in XRP since September 2016, according to reports the private company publishes.

These Startups Will Help Your Company Make Its Own Digital Currency (Inc.), Rated: A

Last year, startups raised a total of $3.7 billion by selling their own digital tokens through initial coin offerings, a way to raise money online without giving up equity or dealing with venture capitalists. Instead of having to code their own digital tokens from scratch, businesses can use what’s known as the ERC20 standard, a protocol based on the Ethereum network.

Waves, an open blockchain platform based in Moscow, allows anyone to create and launch a new token in less than a minute with only a few clicks, says Sasha Ivanov, a serial cryptocurrency entrepreneur and the founder of Waves. Clients first download the Waves wallet, a Chrome browser plug-in. After creating an account and buying one Wave token, (currently valued at about $10), they click on the token creation tab, name the coin, add a description, decide the total volume of coins to issue, and set it to launch. The coin immediately becomes available on the Waves exchange, where investors can buy and trade it.

Harrison Hines, the founder of Brooklyn-based Token Foundry, which helps companies adopt blockchain and token technology, says he declines about 99 percent of his potential clients.

Token Foundry has eight clients, all focused on utility tokens, including one for a decentralized lottery project.

Meet Securitize, A Coin-Creation Service Launched By A Venture Capital Firm (BlockTribune), Rated: A

A venture capital firm with an initial coin offering?  That’s what SPiCE, a VC devoted to initial coin offering (ICO) infrastructure, plans to do with Securitize, a new secuirty token-creation platform. The new company already has $500 million in ICOs lined up as customers when it launches.

Securitize is a turnkey, customizable service that automates compliance with Regulation A, D, CF in the US and other regulations globally.

Hacker steals US$ 440K in ‘easily avoidable’ digital currency breach (SecurityBrief), Rated: A

News recently emerged of another digital currency breach where a hacker hijacked Black Wallet to steal around $440,000 from Bitcoin rival Stellar Lumen.

According to reports, the DNS server of Black Wallet was hacked and manipulated so that whenever a user logged into the web-based wallet, the injected code redirects the Stellar Lumens coins (provided more than 20 are held) into another.

QualiTest adds automated testing to blockchain (Enterprise Times), Rated: A

QualiTest Group, a QA and independent software testing company, has launched a blockchain testing service. The new testing functionality facilitates testing of/for blockchain applications and smart contracts. This fits a valuable niche with the growing use of blockchain technology across multiple industries.

Industries where such testing will be critical include finance, cryptocurrency, government, defense, energy and healthcare.

Four Impressive Ethereum DApps You Can Use Right Now (CryptoSlate), Rated: B

If you are using a laptop, use either Google Chrome or Brave and download the MetaMask extension. MetaMask acts as a bridge between traditional browsers and the Ethereum blockchain.

If you are on your smartphone, download Toshi to have a look at a few of the dApps that are up and running.

Decentralized News Network

DNN uses tokens as a way to incentivize factual news coverage. With no central authority, the site is curated by the people who use it; making it much harder for biased news.

uPort

This dApp gives a unique digital identity to the user. uPort can become the next passport, the next step for voting via smartphones, and a way to identify credentials.

Leeroy

Leeroy is like a Twitter feed without advertising. Statuses can be upvoted with tokens, paying the writer for solid content, and allowing the users to create the database.

Ethlance

Ethlance is set to disrupt a huge industry: the online job board for freelancers.

Because Ethlance is on the blockchain and isn’t run by any single person, there is nobody from Ethlance taking a cut of a freelancer’s profits.

Bitcoin WILL come under MORE regulation to protect global finance from criminal activity (Express), Rated: B

Mrs Lagarde said more governments and banks will seek to further control the way bitcoin is used to protect financial stability.

 

India

Indian Government Turns Fiat Currency War on to Cryptocurrencies (Bitcoin Magazine), Rated: AAA

The cryptocurrency marketplace in India is facing a siege from multiple parts of the government as several incidents amount to a buildup of the Narendra Modi–led government’s actions on regulating cryptocurrencies. If the reports out of India are true, the IMF’s “fastest growing country among emerging economies” may have to meet its 7.4 percent GDP growth target in 2018 without the boost that the digital currency industry has provided in the past.

APAC

SEC, SET talking new ICO framework (Bangkok Post), Rated: AAA

The Securities and Exchange Commission (SEC) and the Stock Exchange of Thailand (SET) are discussing the establishment of a regulatory framework for funds raised from initial coin offerings (ICOs), with a public hearing expected to be concluded soon.

28.56 million Huobi Token (HT) distributed in 32 seconds (Business Insider), Rated: A

The Huobi Token (Token Name/Symbol: HT), distributed for free with the purchase of Huobi ‘Point Card’ package, was officially launched on January 24. On the first day, 31.66 million HT were snagged in 2 minutes 26 seconds. The following day set a new record, at only 1 minute 40 seconds for the 29.99 million HT to be distributed.

On the third day, users’ enthusiasm continued to soar, with 28.56 million HT, snagged in just 32 seconds, setting another record high. 

eCurrency and RCBC introduce digital cash in Philippines (Retail Banker), Rated: A

eCurrency Mint (eCurrency) and Rizal Commercial Banking (RCBC) have partnered to launch digital money product in Philippines to offer affordable digital financial services in the country.

BitCar and its various functions (ICO News), Rated: A

BitCar is a decentralized platform based on Ethereum Blockchain that is making efforts for enabling people to hold a fraction of interests in supercars. It has a sales mechanism in which when a sale is triggered, an agent is going to book the exotic to the specialists of car auction within a period of one year to authorize reasonable marketing and an appropriate venue of the auction. Peer to peer trading in exotics will continue at least 12 hours before the auction.

Canada

Canada to Test Advancements in Biometrics and Blockchain to Welcome International Travellers (Business Insider), Rated: AAA

The Government of Canada will collaborate with the World Economic Forum and partners to test emerging digital technologies and their application to air travel.

Following the launch of a Known Traveller Digital Identity prototype, the Government of Canada will design a proof of concept pilot project between two countries, demonstrating the potential of emerging biometrics and distributed ledger technologies and their impact on facilitating secure and seamless air travel. The Government of Canada is proud to be working with the Kingdom of the Netherlands to explore opportunities for demonstrating the potential of digital identity systems to engender trust and cooperation between international partners.

By 2030, international air arrivals are expected to reach 1.8 billion passengers, a 50% increase from the 1.2 billion arrivals recorded in 2016.

HealthSpace Announces Blockchain Network for Decentralizing Quality Control and Safety Audits (Business Insider), Rated: A

HealthSpace Data Systems Ltd. (the “Company” or “HealthSpace”) (CSE:HS) (Frankfurt:38H) announces that it intends to release its alpha prototype, testing blockchain based quality and safety audits with industry partners in Q1 2018. This will include cannabis production, the food service and hospitality sectors and various government agencies.

Bitcoin is ‘gambling’ and regulations are needed, Canada central bank head says (CNBC), Rated: B

Bitcoin trading is “gambling,” Canada’s central bank governor told CNBC on Thursday, adding that he was looking to work with global regulators to develop regulations around cryptocurrencies.

Russia

Russia ready to regulate, not ban cryptocurrencies (Reuters), Rated: AAA

Russia’s Finance Ministry said on Thursday it was working on legislation to regulate cryptocurrency transactions without fully banning them or legalising digital FX as a means of payment in Russia.

Russia had initially said it would ban crypto-currencies as they could be used to launder money and finance terrorism. But as such currencies and particularly Bitcoin grew popular worldwide, Russian authorities have changed tack.

Crypto Investments in Russia Reached $ 200 Million Last Year (Bitcoin.com), Rated: A

More than 100 crypto-funded projects have started last year, compared to only 20 in 2016, CryptoBazar founder Oleg Ivanov told Izvestia.

Cryptocurrency investments in Russian startups have increased 10-fold in 2017, reaching about $200 million, the capital-raising platform estimates. Only $20 million had been raised during the previous year.

South America

Can blockchain save the Amazon in corruption-mired Brazil? (Reuters), Rated: AAA

Brazil hopes to reduce corruption with blockchain – the technology behind the bitcoin currency – as it reels from a string of arrests in the world’s biggest graft investigation.

The platform’s supporters believe it can reduce fraud in Brazil’s antiquated land titling system, which enables swathes of Amazon rainforest to be cut down for soy and beef farming, in a country where half the population lack property rights.

Caribbean

Mobius Hits $ 39 Million Hard Cap of Public MOBI Token Sale (Crowdfund Insider), Rated: AAA

Cayman based Mobius Network has announced the close of their MOBI initial coin offering public sale. Mobius says the token sale was scheduled to close on February 18th, but sold out in just over two hours. The pre-sale was said to be over-subscribed by $10 million.

The MOBI pre-sale was the largest of Q4 2017 and of 2018, at least so far.

Why a $ 39 Million ICO Chose Stellar Over Ethereum (CoinDesk), Rated: A

“We look at ethereum like AOL or Myspace.”

That’s how Mobius Network co-founder and CEO David Gobaud explains why his startup ran its initial coin offering (ICO) on the Stellar network instead of ethereum, the most popular blockchain for token sales.

Mobius announced Thursday that it has raised $39 million in the ICO — one of the larger recent token sales and the largest by far on the Stellar platform. The company accepted only Stellar’s native currency, lumens (XLM), in exchange for its own token, known as mobi.

Authors:

George Popescu
George Popescu
Allen Taylor
Allen Taylor

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Allen Taylor

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