“Scarcity” may be a crypto buzzword, but “shortage” has hardly made the footnotes – until now. In early July, the developers behind U Network, a blockchain publishing protocol valued at around $8 million, abruptly announced that it had run out of its reserve of UUU crypto tokens, and that it planned to buy back some of the supply it distributed to early investors through its airdrop in February. At the start of the project, U Network established a 10 billion UUU cap on its token supply (worth approximately $15.6 million), setting aside…
Tag: Million
CoinList’s Fifth ICO Is a $61 Million Bid to Tokenize All the Assets
The website aiming to be the gold-standard for token sellers has been picking up the pace. Since spinning off from venture capital giant AngelList last October, New York-based CoinList has been able to make a spot on its website a coveted place for serious projects, even in a crowded market for compliant coin offerings. So, on Monday, the wider world of token entrepreneurs and investors took notice when the company opened registration for its fifth sale. The new entrant? TrustToken, a platform that aims to simplify trading real-world assets on a blockchain.…
Philippines Regulator Aims to Make $67 Million From Crypto Exchange Licensing
The authority that governs the Philippines Cagayan Special Economic Zone and Freeport is aiming to earn $67 million just by issuing cryptocurrency exchange licenses. According to a report from the country’s government news agency on Tuesday, the Cagayan Economic Zone Authority (CEZA) has announced it has just granted a principle operation license to a Hong Kong-based crypto exchange. The CEZA said the new issuance is part of the total 25 principle licenses it will hand out to crypto trading platforms. And each of those authorized companies will be allowed to further…
A $700 Million Cryptocurrency Called Ontology Is About to Go Live
If all goes well, $700 million worth of cryptocurrency is about to find a new home. That’s because Shanghai-based Ontology, a project working closely with those behind the “smart economy” blockchain Neo, is expected to launch its live blockchain on June 30, a step that will find one of the top 20 crypto assets finally releasing its own proprietary technology. Described as an enterprise-focused platform, Ontology is seeking to provide a high volume of fast and cheap transactions, all while helping businesses grapple with the thorny problems of interoperability and…