Ambisafe to Cut Over 50% of Staff

According to CEO, actions of US regulators regarding ICO hit hard his company activities, which develops blockchain platform for conducting ICO
19 April 2019   511

Ambisafe, which is developing a blockchain platform for conducting ICO, as well as providing audit services for smart contracts and software development, reduced its staff from 120 to 50 at the end of last year. This is reported by the Coindesk.

Ambisafe CEO Andrii Zamovsky said that at the top of the ICO boom, the company's monthly revenues reached $ 500,000 a month. However, the actions of US regulators regarding ICO projects have made this type of fundraising much less attractive and revenues have decreased almost five times.

We see ourselves as the infrastructure provider for blockchain-based financial markets. We were hiring too fast. I would rather not take some of the projects that we took.

Andrii Zamovsky

CEO, Ambisafe 

Similar cuts were made to other ICO startups, including Hosho and BlockEx.

Fall in the market last year seriously affected many blockchain companies. So, Steemit, a popular social network on the blockchain, was forced to cut 70% of its staff, Nebulas startup laid off 60% of its employees, and Ethereum Startup Status - a quarter of the team.

GRAM May be Traded at Liquid at Triple ICO Price

Bloomberg says that Telegram tokens, that may appear at Liquid will be sold by Gram Asia at $4 per token, but there's no official info from Telegram
04 July 2019   961

Even before the official public release of the cryptocurrency of the messenger, Telegram can increase in price by 200% relative to its value during the initial offer of coins. It is reported by Bloomberg.

As previously reported, Telegram tokens may appear on the Liquid Bitcoin Exchange already on July 10. The distributor is Gram Asia, which calls itself the largest holder of GRAM tokens in Asia. It intends to put up for sale rights to cryptocurrency at $ 4 per unit.

At the same time, one of the investors said to the publication that at the time of purchase the price of 1 Gram was $ 1.33.

It is worth noting, however, that after the announcement of the public sale of Telegram tokens to Liquid, the media reported that this intention had nothing to do with the official plans of Telegram.

Then one of Telegram's investors stated that no one has the right to sell tokens before their official launch in accordance with the signed agreement. Moreover, representatives of the popular messenger noted that they first heard about Gram Asia.

Later, CEO Liquid Mike Kayamora admitted that Telegram has no relation to the placement on Liquid: the deal was concluded exclusively between the exchange and Gram Asia, which allegedly is an incubator for the TON project.

The Block's leading analyst Larry Chermak on several tweets expressed skepticism about the announced Telegram tokenale based on the Liquid stock exchange, saying that he would “think twice before making a decision to invest.”