Bitfinex May Try to Raise $1B With Own Token Sale

According to the founding partner of Primitive Ventures Foundation, "folks are selling the allocation of its IEO in a few channels"
30 April 2019   482

Bitfinex Cryptocurrency Exchange, presumably, intends to issue its own token and raise $ 1 billion in USDT by selling it. This was announced by the founding partner of Primitive Ventures Foundation Dovey Wan.

Earlier, Bitfinex was involved in a scandal because of the prosecution of the prosecutor's office in New York in an attempt to conceal the fact of losing $ 850 million using the reserves of its affiliate Tether.

There is no other information on this issue at the moment, however, the crypto-community on Twitter is already showing considerable interest in the alleged and ambiguous step of Bitfinex.

Also on Monday Bitfinex’ed provided a copy of the document, allegedly an agreement between Bitfinex and Tether, to provide the first loan of $ 900 million dated March 19, 2019. Bitfinex’ed pays attention to the issue of USDT from March 19 to April 25, when stablecoin's capitalization increased by $ 853 million, which, according to some, may be evidence of unsecured emissions.

Zirui published a message allegedly written by Bitfinex investor Zhao Dong, who previously disclosed insider information. 

 

Algorand to Raise $60M in 4 Hour Tokensale

The project was founded by a MIT professor and a Turing Award winner Silvio Micali and is designed to solve the problems of scalability and consensus in the DLT
20 June 2019   2187

The blockchain-project Algorand, aimed at creating an “borderless economy ”, announced the successful completion of the  ALGO tokensale, during which it raised over $ 60 million, CoinDesk reports.

The campaign was held on the CoinList platform and was conducted in the format of the so-called “Dutch auction”, in which the highest price is first announced, after which it gradually decreases.

Simultaneously with the completion of the tokensale, it was announced the launch of the main network of the Algorand. The platform processes 1000 transactions per second with a delay time of less than 5 seconds, which, as noted, puts it on par with such major payment networks as Visa and Mastercard.

In his work entitled The Monetary Experiment: Algorand A Thesis For Algo Currency Markets, the head of Arrington XRP Capital, Michael Arrington writes that Algorand is a project where macroeconomics meets cryptocurrencies. He also notes that Algorand, as a blockchain-resistant Proc-of-Stake algorithm, is distinguished by a combination of advanced cryptography and a smart economic model.

The Algorand project was founded by a professor at the Massachusetts Institute of Technology and a Turing Award winner Silvio Micali. The main task of Algorand is to solve the problems of scalability and consensus in the blockchain.

As noted, the exact number of buyers who participated in the auction remains unknown, but because of high demand, the campaign lasted less than four hours. In total, 25 million ALGO tokens were distributed with a starting price of $ 10 and a closing price of $ 2.40.

Representatives of the project also stated that since tokens are distributed to customers' wallets and are not available on stock exchanges, there is no need to talk about any value of Algorand market capitalization.

Algos are being dispersed to wallet right now (for successful bids).  Therefore – there are non on exchanges. [Therefore, no market capitalization is available for Algorand, though some have speculated it sits around $6 billion.] Which is still a top 10.
 

Algorand Team

Earlier, the project announced plans to auction 600 million ALGO tokens per year, and in the first five years it is planned to release 10 billion tokens.

Also note that over the last year, Algorand raised $ 66 million in venture capital from investors such as Union Square Ventures and Pillar Venture Capital.