Twitter CEO expands his crypto involvement by investing in a crypto initial coin offering exchange platform CoinList. Jack Dorsey, also the head on the San-Francisco payment service Square is a popular Bitcoin bull who remains on his position that Bitcoin will eventually become the cryptocurrency of the internet. For that reason, let’s dive into his new plans and find out more in the crypto news below.
Dorsey took part in the latest CoinList funding round that managed to raise $10 million. The company established in 2017 as a spin-off of AngelList and it is an ICO exchange platform that received backing from investment companies such as Polychain Capital, raising more than $9 million in the maiden funding round. Dorsey remarked:
‘’Crypto needs a trustworthy platform for launching new projects. CoinList leads the industry in that role, and trading is a logical next step.’’
Since its inception, CoinList has supported token sales worth more than $800 million and the company claims to be an SEC-complaint exchange. CoinList vets crypto and blockchain startups that want to run a token sale and connect them with the accredited investors. According to the website, the platform offers support for both private and public cryptocurrency token offerings and some of the more popular ICO listings include Blockstack and Filecoin. The recently concluded Blockstack token sale remarked the first-ever SEC qualified token offering that was carried out under Regulation A.
Since the 2017 ICO boom, the SEC put token sales under a lot of scrutinies and labeled most of them as securities. The commission has levied fines and some of the commentators called for more nuanced securities regulations for crypto. Such stringent regulations have put a damper on the trading of the ICO tokens but other exchange platforms have even been forced to relocate outside of the US.
The Twitter CEO expands his crypto adventures and still remains vocal about his support for Bitcoin and involvement in the crypto space. Despite the enthusiasm for the industry, he says that he has no intention to create a crypto payment system as Facebook did with Libra. Instead, Dorsey has declared continually that he believes in the future of bitcoin as a leader for decentralized currencies.
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