Galaxy, BlockTower Lead $16 Million Funding for Crypto Project Caspian

Institutional traders simply need better crypto tools. That’s the driving idea behind a union between Kenetic Capital, a crypto hedge fund based in Singapore, and Tora, a trading systems firm that already supplies order execution, portfolio management, risk assessment and compliance services for well-established asset classes. Announced today, both companies are teaming up to create Caspian, a project that has raised $16 million in funding via a token presale. Investors in the round include Kenetic, Galaxy Investment Partners, BlockTower Capital, Octagon Strategy, Techemy Capital, Global Advisors and Bletchley Park, according to David Mills of…

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Proof of Use? Civil Believes This ICO Model Lets It Sell Anyone Tokens Legally

Civil, the blockchain startup looking to disrupt media, will be offering its crypto token to investors of all kinds – both accredited and unaccredited – next week. As a spoke of ConsenSys, the ethereum startup incubator and business all its own, that decision runs counter to most of the common wisdom about token sales these days. The much maligned initial coin offering (ICO) has come under intense fire recently for everything from sinking ethereum’s price to scuttling whatever hard won credibility the industry managed to gain before mania built up…

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No Longer Beta: $200 Million Tezos Blockchain Will Be Official Mainnet Soon

The “experimental” phase for the Tezos blockchain is over. On Monday morning, the Tezos Foundation will officially announce that the protocol will no longer be in a beta period, and instead be a full mainnet, launched and run by its community. The designation is admittedly largely a semantic one. Tezos launched a mainnet, or live blockchain version of its software at the end of June, and since then its xtz tokens have been tradeable. While the blockchain was being used as intended throughout that time – with the number of network…

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FOAM Is Live: Decentralized World Map Launches on Ethereum

One of the year’s most hotly anticipated blockchain applications is now live. FOAM, which aims to build a reliable, resilient world map using smart contract technology, announced that the decentralized application (dapp) has launched on the ethereum blockchain and is already “seeing the first users populate the map.” Speaking to CoinDesk in June, FOAM co-founder and CEO Ryan John King explained the motivation behind the dapp, saying “people think location is a solved problem.” Rather, King argued, centralized mapping services like GPS – which is owned by the U.S. government…

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Brazilian Soccer Club Seeks $20 Million In Upcoming ICO

A Brazilian soccer team is looking to raise $20 million by launching its own initial coin offering (ICO). The Avaí Futebol Clube, a Series B soccer team, announced Wednesday that it was generating its own cryptocurrency as part of an effort to develop a digital ecosystem for its fans, help it qualify for the top tier (Series A) of Brazilian soccer and the prestigious Copa Libertadores competition and to build up the team’s physical infrastructure. Inside World Football reported that the club will sell 20.46 million tokens at $1 each. The…

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Korean Financial Watchdogs Probing Blockchain Firms Over ICO Activity

South Korean financial watchdogs are contacting domestic blockchain startups as part of an investigation into initial coin offerings (ICOs). According to an exclusive report from CoinDesk Korea, the probe is causing jitters among the firms over whether it could ultimately lead to some form of sanctions if firms are considered to have broken rules on token sales. Currently, ICOs are technically not allowed, since the token-based funding method was banned last September. As revealed in a questionnaire from the Financial Services Commission – obtained by CoinDesk Korea on Wednesday – the Financial Supervisory…

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Stellar Gets Another Boost With TokenSoft ICO Services Expansion

ICO services platform TokenSoft is officially launching support for projects on the Stellar lumens protocol. The company – which helps crypto startups navigate through legal compliance procedures in the U.S. and internationally – announced Tuesday that it would extend its offerings to include the Stellar platform, having previously assisted ethereum-based projects. TokenSoft co-founder Mason Borda told CoinDesk that his company had been looking into Stellar since the first quarter of 2018, citing its level of “maturity” as the reason for accepting it to the platform. “We feel that [the Stellar network], the…

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‘Crypto Assets Are Here to Stay,’ Says EU Commission Vice President

The European Commission, the executive body that proposes legislation for the EU, will this year conclude a regulatory assessment for the governance of crypto assets, because they are “here to stay,” a high-level has official said. Speaking at a press conference after a meeting of the Economic and Financial Affairs Council last Friday, Valdis Dombrovskis, vice president of the European Commission, said member states are supportive of moves to chart regulations governing the cryptocurrency industry in the economic region. Dombrovskis said: “We also had a good exchange of views on crypto-assets. We…

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Are Big Token Sales Really Over? At Republic Event, Many Think So

The ICO is over. At least that’s what the market keeps hearing, and what was floated during the very first panel – called “The Death of the Main Sale” – at RepubliCon in Manhattan on Thursday.  The event, hosted by crowd investing platform Republic, saw a number of crypto industry stakeholders discuss the cooling (by some measures) of the hype around the nascent fundraising mechanism called an initial coin offering. Indeed, July was a slow month, with CoinDesk’s ICO Tracker showing that project founders didn’t manage to break even a…

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Civic to Spend $43 Million In Tokens In Aggressive User Expansion

Like all crypto projects, Civic, the pioneering blockchain-powered identity startup, needs people, lots of people, using its platform. And, according to Civic founder Vinny Lingham, while the technology is all in place for the system to work, it’s this network of users that the company is still struggling to achieve. In an effort to spur this adoption, Civic announced Wednesday that it will be paying for all identity checks for users and business partners from now until the end of the year. Well, at least, $43 million worth. All told,…

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