Blockstack startup, the popular blockchain startup finally got the green light from the SEC to sell Stacks (STX) tokens. Blockchain startups finally got some dose of clarity regarding fundraising so now the utility token will be sold on offshoot via the IPO known as Regulation A+ which we are about to find out more in the coming altcoin news below.
Regulation A+ was created a couple of years ago so now Blockstack is targeting a $28 million token sale which will be opened to the public. This new token sale has the ability to become a game changer for other crypto startups that aim to sell tokens but not equity in their companies while they are still compliant with the SEC. The Regulation A+ is meant for smaller companies that don’t want to start an IPO though getting approval from the SEC was not quite easy for Blockstack. The startup poured about $2 million in the process of getting a license.
The Blockstack startup which describes itself as a ‘’ decentralized computing network’’ paves the way for other startups. Rather than just ban investors from the US from its token sale, they fought to get the approval they needed from the SEC. Some of the crypto companies were very sad to learn that they could have done the same and fought for approval.
ICOs were very popular in 2017 but since then they have lost much of their appeal. They became the target of the SEC crackdown. Initial coin offerings were not completely wiped off the market but some other structures such as IEOs facilitated the likes of Binance and STOs to the likes of Patrick Byrne took shape. According to the data from the Wall Street Journal, ICOs attracted less than $120 million in the Q1 of 2019 vs. more than $7billion in 2017. According to the announcement which we have in our latest cryptocurrency news made by Blockstack, the deal is open to everybody.
“This means everyone from general enthusiasts, to longstanding Blockstack supporters, to accredited or non-accredited investors alike — in the U.S. and globally, can participate in the sale.
Blockstack got the congratulatory notes from major companies and the entire crypto twitter community including Coinbase’s former COO Asiff Hirji who tweeted:
“Congrats. Good to see your efforts coming through.”
Coinbase Closes Its Bundle Product After 8 Months On The Market
‘’Coinbase Bundle purchases have been deprecated, as such all assets purchased in the Conibase Bundle have been redistributed to their respective individual asset wallets.’’Coinbase Bundles were meant to provide the investors with a diversified digital asset portfolio which could be dollar-cost averaged by using the same tactic that the investors use in traditional asset classes. Investors could also spend up to $25 to purchase a bundle of five cryptocurrencies which were easily balanced in proportion to their own market cap. For example, Litecoin, Ethereum Classic, Ethereum, and Bitcoin comprised each bundle. In a combination with Coinbase Learn and Asset Pages, the bundles were meant to look good for crypto newbies that are aiming for the dollar cost average into some long positions without having to conduct a huge amount of technical analysis. When it was first introduced in 2018 in September, Coinbase noted:
‘’The vision of an open financial system depends on people’s ability to understand, explore, and choose cryptocurrencies. We expect that millions of people will make their first cryptocurrency purchase in the coming years. But all too often, getting started can be overwhelming for people learning about crypto for the first time.’’Now, after 8 months, Coinbase closes the Bundle project and this decision is bound to draw some criticism but maybe pleasure as well from those who dislike the company. It could be a very smart move to bin the product since the altcoins have been crashing recently as bitcoin corrected and managed to get on the rallying track. As noted in the latest cryptocurrency news, the cancellation of the Coinbase Bundle product could add some credibility to the argument that the diversification does not always work for crypto despite the sector being too volatile or calm.
Global Accounting Firm KPMG Partners With Microsoft To Develop Blockchain
“While we will be able to consume more data more quickly and across more locations than ever before in this next wave of telecom advancement, it is becoming increasingly complex for telecom companies to track and settle interchange fees.”The blockchain being piloted by KMPG, Microsoft and R3 is definitely a hot topic and aims to reduce the future costs, number of disputes and time involved in telecom settlements caused by “billions of mobile interactions flow[ing] through hundreds of connected networks managed by dozens of customers and suppliers.” However, it is not just future costs that the business partnership wants to solve. On the table are also current inefficiencies in the markets such as settlements and reconciliations which are currently handled manually and can take a month to be completed, Ghosh said. Currently, he said, a huge amount of data is generated around mobile devices. However, it goes a long way to know the conditions of a user's contract and their billing information - which must be authenticated by at least two parties if cross-service operations occur. Before the blockchain initiative, the global accounting firm KMPG had advised telecom operators on capital-efficient deployment of 5G networks, cyber security, privacy and data protection - all of which was featured in our coming altcoin news.
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