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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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Blogs

XRP Surges By 8% In A Surprise Bull Run

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The new price surge that surrounded almost the entire crypto market brought quite a pleasant surprise for XRP holders, as Ripple grew in price by over 8% in the last 24 hours. In fact, XRP managed to achieve a price surge equal to that of Ethereum as of this morning.

While the third largest cryptocurrency is still quite behind ETH when it comes to market cap, many believe that it is only a matter of time before XRP regains its former glory. With that being said, a lot of people are still more than pleased with seeing Ripple climbing back to more stable levels, especially after a big price drop that hit the coin last week.

The new hike up allowed XRP to climb back to $0.446322. While this is still low when compared to its highest point in the last week ($0.52), the coin still seems to be well on its way to recovery. In fact, many believe that XRP has found a new bottom, one that is significantly higher than the last one. Most of this new success can be traced back to a price surge that Ripple has had recently when it even managed to briefly overthrow Ethereum as the second largest coin by market cap.

Despite its drop since then, XRP still remains one of the coins with the strongest growth in the last month. While the market is still far from stable,…

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Bitcoin

If Tether crashes, will that money pour into Bitcoin?

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For a long time now, the so-called stablecoin, Tether (USDT) has been a topic of discussion within the crypto community.

Tether, as a stablecoin, is said to be fully backed by the USD. This allowed it to be one of only a handful of cryptos that can avoid volatility issues, due to the fact that it is backed by a stable fiat currency. However, for as long as it was around, Tether was very secretive of its bank accounts and funds in general.

While claiming to have the ability to back each of its USDT coins, many have questioned whether or not this can be true. At the time of writing (October 16, 2018), Tether has released 2,256,421,736 USDT in circulation. This means that it needs to have at least $2,256,421,736 in order to cover its circulating supply.

At this point, three questions emerge, and answering them could very well change the future of this stablecoin. The questions are as follows:

  1. Are all USDT coins fully backed?
  2. If yes, then where did that much money come from?
  3. If not, what will happen when the market discovers the lie?

Tether continues to keep secrets

As mentioned, Tether has always claimed to be able to back each of its coins. However, instead of operating on transparency, the coin used different tools, mostly opaqueness, misdirection, and playing the victim whenever someone tried to unveil what is truly going…

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Bitcoin

Is Bitcoin (BTC) Better Than USD?

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Despite all its recent progress, cryptocurrencies still do not inspire trust in a lot of people. Many view them as unsafe money, with its very nature being doubtful. However, a recent report by the Polish Academy of Sciences’ Institute of Nuclear Physics shows that situation regarding cryptocurrencies may not be as bad as it seems. In fact, the report claims that Bitcoin might even be a better currency than it looks like.

Bitcoin vs traditional money

Bitcoin, as many are already aware of, is the first cryptocurrency. It was created a decade ago and was officially launched in 2009. But, even though it has been around for around 9 years at this point, it is still largely mistrusted by a lot of investors, especially when it comes to large institutions.

However, thanks to the Cracow-based Institute of Nuclear Physics’ recent report, this common opinion might actually be wrong. The Institute has conducted a detailed statistical analysis of the BTC market and has published the results in a scientific journal called Chaos: An Interdisciplinary Journal of Nonlinear Science.

Surprisingly enough, the report portraits Bitcoin in a very positive light.

The report started by commenting on the credibility of traditional money. In the past, money that people have been using was backed by specific material commodities, such as gold. These commodities gave the money its value and served as a guarantee that the money actually has worth. This is…

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