Multicoin Leads $10 Million SAFT Sale for Ethereum Scaling Startup Skale

Blockchain startup Skale Labs raised nearly $10 million in an effort to develop a blockchain scalability infrastructure for ethereum, the company announced Thursday. The startup says in a press statement that it raised $8.86 million in a Simple Agreement for Future Tokens (SAFT) sale led by Multicoin Capital, on top of $785,000 raised earlier this year. Galaxy Digital, Aspect Ventures, Blockchange Ventures, Boost.VC, Canaan Venture Partners, Floodgate Fund, Hack.VC, Neo Global Capital and Signia Venture Partners also participated in the sale. The company intends to launch an open-source permissionless blockchain…

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South Korea’s Policy Chief Calls for Legalization of ICOs

The chairman of Korea’s National Policy Committee has called for the legalization of initial coin offerings (ICOs), provided that a regulatory framework is put in place. According to a report from CoinDesk Korea on Tuesday, Min Byung-Doo, who is a member of the country’s governing Democratic party, said that, with token sales becoming a global trend, “I do not want the ICO door closed completely … The state should not ignore [the issue].” The policy chief spoke earlier Tuesday during 8th plenary session of the National Assembly, at which lawmakers posed…

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VC Investment in Blockchain Startups Is Up 280% So Far This Year

As the crypto industry sees a decline in initial coin offerings (ICOs) amid regulatory concerns and major losses across token markets, traditional VC investment is once more on the rise. In its latest report, blockchain research group Diar reports that blockchain and cryptocurrency-focused startups have raised nearly $3.9 billion through VC investments in the first three quarters of the year – that up 280 percent when compared to the whole of 2017, it says. Based on data from Pitchbook, the report indicates that number of deals also nearly doubled this year. VC investment in blockchain/crypto (Source:…

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Most ICOs Didn’t Take Funding Hit Despite Ether Price Decline: Research

Despite the big drops in cryptocurrency prices since late last year, ICO projects haven’t lost money on average, according to new research from BitMEX. The research team from the cryptocurrency trading platform published the new work Monday, having teamed up with crypto data cruncher TokenAnalyst to track the ethereum (ETH) balances of 222 ICOs over time. Specifically, the researchers looked at the amount of ETH raised by the projects and the U.S. dollar value of the gains and losses that arose from the cryptocurrency’s price shifts. The researchers say that the fall in the…

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This Meme Marketplace Uses Dummy Tokens to Draw Users in a Bear Market

Memes are a pretty important part of the crypto ecosystem – how else would crypto visionaries display their wit and sometimes passive aggressivity? It’s no wonder then that District0x’s Meme Factory is seeing quite the buzz. Not only did District0x raise $9 million in an initial coin offering last year, backed by Boost VC and CoinFund, to name a few, but holders of the ERC-20-based native token, DNT, are already making decisions about the project’s future. And that’s perhaps surprising since the application isn’t exactly live yet. Instead, holders of DNT…

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ASX-Listed DigitalX Hit With Legal Action Over ICO Involvement

Shares in the publicly listed blockchain tech and consultancy firm DigitalX have slumped after it revealed it is facing a legal claim in an Australian court In an announcement to the Australian Securities Exchange (ASX) Friday, the firm says it has been served with an Originating Application and Statement of Claim in the Australia’s Federal Court, which has been brought by a group of investors in an initial coin offering (ICO) to which it was an advisor. The parties are claiming roughly US$1,833,077 plus damages, the company indicates. DigitalX says…

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The Crowd Machine Crypto Token Theft: What We Know Thus Far

Just a few days ago, Crowd Machine was working to build a crypto replacement for Amazon Web Services. Today, it is facing questions about its survival. On Saturday, according to a post by the Crowd Machine team, a hacker compromised the company’s cryptocurrency wallet and stole a large number of the application’s native Crowd Machine Compute Tokens (CMCT). Digging further, according to Etherscan, the thief appears to have made off with over 1 billion CMCT, most of which were then transferred to exchanges. The price of the tokens fell steeply…

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The Crowd Machine Crypto Token Theft: What We Know So Far

Just a few days ago, Crowd Machine was working to build a crypto replacement for Amazon Web Services. Today, it is facing questions about its survival. On Saturday, according to a post by the Crowd Machine team, a hacker compromised the company’s cryptocurrency wallet and stole a large number of the application’s native Crowd Machine Compute Tokens (CMCT). Digging further, according to Etherscan, the thief appears to have made off with over 1 billion CMCT, most of which were then transferred to exchanges. The price of the tokens fell steeply…

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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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