$20 Billion in Coinbase Assets held in Imtoken Wallet

The founder of Imtoken, major Chinese Ethereum wallet provider Ben He claimed that $35 billion worth of crypto assets are currently stored in Imtoken wallets
05 June 2018   1673

Imtoken also declared that it has gained $10 million USD from IDG Capital, and is soon going to integrate support for BTC. Imtoken displayed that it has increased $10 million USD from IDG Capital via its Series A funding round. The firm that affirms to be the world’s largest Ethereum wallet, will now be concerned on splaying in the Asian and United States cryptocurrency markets.

Ben He, Imtoken’s founder, pointed out the firms’s intendance to enter the Southeast Asian markets before looking toward major regional players such as Korea, Japan, and India - stating that declared jurisdictions’ “regulations are maturing quickly.” Imtoken will look toward major African markets, such as Nigeria, after Asian market.

We didn’t have any marketing or promotional budget. We noticed very early the potential of Ethereum and focused on it to differentiate against competitors.
Ben He
Founder, CEO, Imtoken

Imtoken presented that much of the newly raised capital will be put toward developing new features, including support of BTC, EOS, and a row of another altcoins.

Imtoken has developed its product into one of the top crypto asset wallets in the world with such a sound reputation. We believe it will become a significant infrastructure for the tokenization manifesto, benefitting both the crypto economy and blockchain technology. We’re excited to back Imtoken.
Young Guo
Capital Partner, IDG

The company’s app has grown to store since 2016, more than $35 billion worth of cryptocurrency assets, including “More than $20 billion” worth of Coinbase’s customers funds, as reported by a Coinbase spokesperson. Since January, Imtoken users are expected to have accounted for approximately 10% of daily activity taking place on the Ethereum blockchain.

SK Group to Invest $10M in ConsenSys

SK Group chairman and the 3rd most wealthy man in country believes digital technologies will play an important role in the further development of the company
03 July 2019   339

SK Group has invested $ 10 million in leading Ethereum-based solutions developer ConsenSys. This is reported by the local news agency Chosun.

As noted, in his today's speech at the technology event in Seoul, the chairman of the board of SK Group and the owner of the third largest fortune ($ 3.4 billion) in South Korea Chey Tae-won expressed his interest in the blockchain technology and the tokenized economy, expressing also the opinion about the need for digitalization of approaches practiced by traditional businesses.

According to him, digital technologies will play an important role in the further development of the SK Group.

It is also reported that in February of this year, the telecommunications division of the conglomerate SK Telecom entered into a partnership agreement with Deutsche Telekom to create a blockchain solution for customer identification.

In April of this year, the media passed information that ConsenSys is going to attract $ 200 million in funding from outside investors with a market valuation of $ 1 billion. To this end, the company began distributing presentation materials to Chinese investors. They say that ConsenSys expects to receive $ 50 million in revenue this year, mainly due to contracts with corporate clients and government agencies.