Basis Stablecoin Startup to Shut Down

For such a decision the project team was forced by pressure from regulators, although the details are still unknown
13 December 2018   462

The Basis project, which develops algorithmic stablebcoin, has decided to cease operations and return attracted investments, The Block reports.

According to the publication, for such a decision the project team was forced by pressure from regulators, although the details are still unknown. Probably, the algorithmic model of Basis, despite the high marks of the leading representatives of the community, is currently not possible to implement in accordance with US regulations.

Note that at the end of March 2018, the developer of the project Intangible Labs raised $ 125 million through the sale of SAFT contracts. Then, in mid-April, investments in Basis rose to $ 133 million.

This was preceded by a closed round of funding that took place in the fall of 2017, when the project was supported by Andreessen Horowitz, Bain Capital Ventures, Digital Currency Group, MetaStable Capital, Pantera Capital and PolyChain Capital.

South Koreans to Invest in Crypto Actively

In addition to the investment amounts, the share of those interested in investing in digital assets also increased
22 April 2019   84

The average amount of investments in cryptocurrency from South Korean invesetprsĀ is $ 6,100, which is 64% more than last year, Cointelegraph reports.

According to a survey conducted by the Korean Fund for the Protection of Portfolio Investors, in addition to the investment amounts, the percentage of those interested in investing in digital assets also increased. Thus, 7.4% of the 2500 respondents have already acquired cryptocurrency (last year there were 6.4% of those). It is noteworthy that this figure has increased, despite several major break-ins of the South Korean crypto exchange, as well as tougher regulation of the industry.

Analysts connect the market with a recent bitcoin price jumpĀ and hope for a new bull rally.

Recall recently it became known that 94% of trust capital funds invest in cryptocurrency.