Messaging Giant Telegram’s ICO Token Is at Last Going on Public Sale

Messaging app giant Telegram’s gram token, previously sold to accredited investors in the biggest ICO of all time back in early 2018, is at last to be offered to the public. As reported by TechCrunch, a limited sale of the gram token will take place on the Liquid exchange from July 10. The offering reportedly comes before a full public sale planned for October. The cost of the token and the targeted total for the raise are not being disclosed as yet. The sale is being made via Gram Asia, which TechCrunch says…

$1 Billion Valuation May Elude Ethereum Co-Founder’s New Blockchain Polkadot

Blockchain project Polkadot’s bid for a $1.2 billion valuation has hit a snag. Since January, the Web3 Foundation, the Switzerland-based nonprofit behind the project, has been trying to raise up to $60 million through a private token sale. According to people familiar with the situation, three Chinese funds have agreed to invest $15 million in the project’s DOT tokens. However, these three investors agreed to pay prices that, on average, valued the project below $1 billion, the sources said – falling short of the unicorn threshold Polkadot was reportedly seeking.…

Bitfinex’s Private Token Sale Raised $1 Billion in 10 Days, Exec Says

Cryptocurrency exchange Bitfinex has raised $1 billion through its native token in a private sale, according to its chief technology officer. Paolo Ardoino‏ tweeted Monday that Bitfinex has achieved the target in just 10 days, with participation from “giant” firms from both within the cryptocurrency industry and outside. Some of the investors, which were not named, invested over $100 million each, Ardoino‏ said, adding that others also contributed investments of over $1 million each. . @bitfinex is able to raise 1b USDt in 10 days, in a private sale. Private…

Binance, OKEx and KuCoin Are Using IEOs to Command the Spotlight

Token sales haven’t stopped since the 2017 boom. They’ve just changed names. Initial exchange offerings (IEOs) – where a cryptocurrency exchange offers a direct listing and launch campaign for a new startup token – are earning blockchain companies millions in 2019. Two sources, who both requested anonymity to avoid alienating exchange partners, told CoinDesk that some exchanges declined to list their tokens unless their startups paid hefty fees, in various formats depending on the exchange. These fees, the sources said, ranged from 10 percent of the startup’s equity, plus a…

Data Market Ocean Tries New Token Sale After CoinList Offering Misses Target

After a token sale on CoinList failed to reach its target, data marketplace Ocean is trying again on crypto exchange Bittrex International. Ocean Protocol has a vision to become the ecosystem for “a new data economy,” its founder Bruce Pon told CoinDesk. With the release of Ocean’s version 1.0 beta network earlier in April, its tokens are ready to be used on the platform, but the company has not quite met its fundraising goal. Through its initial exchange offering (IEO), Ocean aims to raise $6.77 million in bitcoin, following a previous…

Swiss Watchdog Rules Crypto Miner’s ICO ‘Seriously Violated’ Laws

Switzerland’s finance watchdog has found that the cryptocurrency mining firm Envion AG, which raised millions through an initial coin offering (ICO), held the sale illegally and “seriously violated” laws. Announcing the news on Wednesday, the country’s Financial Market Supervisory Authority (FINMA) said that Envion unlawfully received public deposits worth over 90 million francs ($90.33 million) from at least 37,000 investors through its token offering early in 2018. FINMA began investigating Envion in July 2018 for potentially breaking financial market rules. In Wednesday’s statement, the regulator concluded that Envion carried out…

Crypto Startup TokenPay Buys Equity Stake in Heidi Klum Lingerie Maker

Cryptocurrency startup TokenPay is getting into the lingerie business. Revealed in a filing Wednesday with the U.S. Securities and Exchange Commission, the Switzerland-based startup has spent $1.3 million for a 6 percent equity stake in Naked Brand Group (NAKD), the Australian lingerie company best known for supermodel Heidi Klum’s signature fashion lines. TokenPay’s Derek Capo told CoinDesk the move is part of the startup’s broader diversification strategy following a December 2017 token sale that netted 2,000 bitcoin, or roughly $20 million. Spending token sale proceeds on equity investments has been a…

Bittrex Exchange Nixes RAID Token Sale at 11th Hour

Cryptocurrency exchange Bittrex said it canceled an “initial exchange offering” (IEO) just hours before it was set to launch. The RAID Project had planned to raise $6 million through the sale of a token called XRD to the exchange’s customers. But Bittrex said it called off the sale after learning that the issuer’s strategic partnership with an e-gaming data analytics company OP.GG had been abruptly terminated. That alliance “was a vital part of the RAID project,” Bittrex said in a statement. “When Bittrex International became aware of this significant event, we did…

Crypto Mogul Moshe Hogeg’s ICOs Have Unusual Patterns, Analysis Finds

Best-known internationally as the chief executive of the blockchain smartphone startup Sirin Labs, Moshe Hogeg is becoming known for something else in Israel – mounting lawsuits. As reported extensively by regional news outlets, a lawsuit filed in January claims Hogeg misappropriated funds from the sale of new cryptocurrencies for both his own gain and to benefit his investment portfolio, including Sirin Labs. The judge has reportedly given Hogeg until March 15 to settle with the plaintiff, Chinese investor Zhewen Hu. This follows an earlier case involving Hogeg’s company Invest.com that…

Thailand’s Securities Watchdog Approves Country’s First ICO Portal

Thailand’s Securities and Exchange Commission (SEC) has given the green light to the country’s first portal for scrutinized initial coin offerings (ICOs). As reported by Bangkok Post on Wednesday, the decision was made by the SEC’s board of directors and now needs final approval from other government bodies such as the Ministry of Commerce, according to the agency’s director of fintech, Archari Suppiroj. The portal is being developed to protect investors by scrutinizing ICOs and auditing their smart contracts, as well as countering financial crimes by ensuring sound know-your-customer processes. Suppiroj further told the Post…