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Binance and NEO Invest $12 Million in Crowd Equity Platform

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A recent attempt to raise money, made by the crowd equity platform called Republic, has had an interesting and unexpected development. The platform managed to raise $12 million thanks to Binance Labs, NEO, and other companies. The amount raised is for a presale of their new token, while the total goal for the platform is to raise $92 million during the public sale.

Investment in Republic

On June 5, Binance Labs announced the $1 billion investment fund for the blockchain technology. According to the announcement, this is to be the incubator for the future blockchain projects, and it will be run by Binance, the crypto exchange. The exchange is known for providing pre-ICO projects with necessary funds, which often come through their own token BNB.

Binance Labs’ head, Ella Zhang, stated that the platform Republic can bring new opportunities regarding the investments, especially when it comes to retail investors. They will have the ability to join in funding and creating brand new startups. She added that Binance’s, as well as the Binance Labs’ teams,  are collaborating in order to secure the freedom of value-exchange. The exchange and the company believe that Republic might be the key to achieving this goal, or at least the next step towards it.

Another party that joined in early into investing in this platform is Neo Global Capital, well-known for its NEO cryptocurrency. It was joined by Passport Capital, Jeffrey Tarrant, and East Chain Co. All of these parties invested into the company, and also purchased its tokens.

So far, Republic’s plan is not yet entirely known, since the whitepaper containing the details has yet to be published. However, the platform has, in fact, revealed the funding model that it decided to use. It is called SAFEST, which is short for Simple Agreement for Future Equity and Security Tokens. Basically, what this will do, is that it will allow the investors to make a choice regarding the nature of their investment.

More precisely, they will have an ability to choose whether they wish to make a full investment in digital currency, or would they rather split it and add up to 20% of the investment as equity in the firm. Also, if something unexpected happens, and the launching of the tokens is canceled, the investors will have the option to move their entire investment from tokens to equity.

Kendrick Nguyen, the co-founder of Republic, has stated that the entire ecosystem that they are dealing with right now is extremely new. Because of that, he urged the investors and all participants, in general, to be very careful and responsible during the conduction of the fundraising.

Similar investment projects

Neo Global Capital is also known for its $1 million investment when it comes to Moonlight, a smart economy workforce platform. This is a platform that has a goal of simplifying the recruitment and employment of talents by various organizations. Moonlight then allocated 20% of the funds from the upcoming coin sale in order to help NEO’s development by funding the projects that will increase its ecosystem.

Another recent announcement by Binance Labs included the Community Influence Fund during Zhang’s online broadcast. According to the announcement, the company will make an investment into cryptos and blockchain startups, and the investment will come in form of BNB tokens. Several projects already received investments from this company, including Oasis Labs’ MobileCoin, as well as Certik, which is a verification platform.

Additionally, Binance Labs has entered a collaboration with up to 20 partners, with a goal of creating the Binance Ecosystem Fund. Changpeng Zhao, the CEO of Binance, has announced support for the ICO market. The statement also says that this is necessary for the further development of the crypto space. He also added that there are aspects that need more work, and definitely some that need proper change, but that the business model as a whole is more than viable.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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How is the Crypto Market Changing?

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It has been around a month and a half since the start of 2019, and there are already some pretty obvious changes in the way the crypto market operates, especially when compared to the last year. Early 2018 was almost a complete opposite. The previous year started with cryptocurrencies at their strongest, only to see them crashing down after a few weeks. Back then, the ICO model was still quite strong, and so was the hype surrounding the crypto space. New investors kept entering the space, and new startups emerged with their tokens ready to be sold.

As the year progressed, things started to change. The prices continued to drop, the ICO model went down from around $1.4 billion in raised funds at the beginning of the year to only $100 million in the last month.

The ICO model lost investors’ trust, as many of the projects turned out to be either too weak to survive after the crypto winter struck, or scams which tricked investors out of their money and disappeared. Not to mention that the increase in ICOs popularity attracted the regulators who cracked down on them pretty hard, especially in the US.

With all of that happening, it is of a small surprise that the investors started giving up on ICOs, especially with the constant drops in prices which saw even the largest coins…

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Understanding the Uses of Different Types Of Cryptocurrencies

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Cryptocurrencies – a term which has become incredibly prominent in the mainstream media during recent years due to the proliferation of Bitcoin millionaires. As a result, the new form of currency has earned an almost infamous status. However, as with any major step forward, there is still much confusion regarding the use of cryptocurrencies, what different types of innovative electronic cash exist and what they might mean for the future.

We’re putting all of this to rest as we explain what each of the leading cryptocurrencies can do.

Bitcoin

The most popular form of cryptocurrency, Bitcoin was first thought up in 2008 by the elusive and still unknown creator, Satoshi Nakamoto, who published the whitepaper online.

It took almost a decade for the cryptocurrency to reach its peak, but in December 2017 a single Bitcoin roughly exchanged for the price of $17,000, meaning anyone who held a substantial amount of the electronic cash became significantly wealthy.

In its early years, the cryptocurrency was strictly used as an alternative for cash transactions, and predominantly for trading goods and services. However as it has increased in popularity, its range of uses has also widened, now deployed for a variety of purposes including acting as collateral for investments at merchant banks, a direct debit for subscriptions services and most notably for sports betting.

Ripple

Bitcoin’s closest source of competition, Ripple was founded…

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New DoJ Ruling May Cripple Gambling dApps

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A new decision made by the US Justice Department has expanded restrictions regarding online gambling in the US affecting gambling dApps. While the Federal Wire Act of 1961 prohibited online gambling regarding sports since 2011, the new decision expanded on this, and it now includes all forms of internet gambling. Unfortunately for many, this now also includes cryptocurrencies.

The new decision came due to considerable difficulties when it comes to guaranteeing that only interstate betting will take place and that payments will not be routed via different states.

The new announcement was explained in a 23-page-long opinion issued by the Department of Justice’s legal team, which pointed out that the 2011 decision misinterpreted the law. According to that decision, transferring funds was to be considered a violation, but data transfers were not included. By exploiting this oversight, it was possible for gamblers to turn to internet gambling. Unsurprisingly, many have realized this early on, including startups, as well as large, established firms. This, of course, also included cryptocurrency companies as well.

The new decision changes what is allowed online

The decision to include all forms of internet gambling is a massive hit in the…

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