Blockstack Intends to Raise Another $50M

The tokensale will be conducted in accordance with the SEC's “A +” exemption and funds is planned to be used to accelerate the development computing stack
12 April 2019   309

The New York blockchain-company, Blockstack, has filed a claim with the US Securities and Exchange Commission (SEC) to hold a tokensale in accordance with the “A +” exemption. The company plans to attract funding in the amount of $ 50 million, reports CoinDesk.

If approved, the sale of 295 million Blockstack Stack (STX) security tokens at a price of $ 0.30 per unit will be handled by a unit of the company Blockstack Token LLC.

The company wants to use the raised funds to accelerate the development of the decentralized computing stack and the application ecosystem.

We’ve been working with securities lawyers to create a legal framework that can enable blockchain protocols to comply with SEC regulations. This can potentially set a precedent for others in the industry, not just for public offerings, but also as a path to launch new public blockchains and establish a path to bootstrapping decentralized ecosystems.
 

Muneeb Ali

Co-founder and CEO, Blockstack

The A+ exemption was adopted by the SEC in 2012 and allows companies to attract up to $ 50 million of funding from American investors.

In December 2017, the Winklevoss brothers and other large investors invested $ 50 million in the Blockstack during the tokensale.

Mithril to Migrate to Binance Chain

Mithril is the frist project that is going to migrate to recently launched Binance chain
19 April 2019   103

The Mithril project is the first to migrate to the Binance Chain. This is reported in startup blog.

By migrating to the Binance Chain, MITH token holders will be the first to experience the speed, security, and user friendliness on the new Binance DEX platform while maintaining full control over their own funds. Migration of MITH from ERC20 to BEP2 will begin shortly after the mainnet launch of Binance Chain on April 18, 2019.
 

Mithril Team

Mithril claims that they studied various blockchain platforms and was convinced of the “speed, security, and user friendliness have become crucial to the success of our ecosystem” of Binance Chain, which was the reason for his decision.

MITH deposit / withdrawal on Binance.com will not be available for the first 12 hours after migration. Nevertheless, trading will continue. After completing the necessary procedures, Binance users will be able to withdraw from the exchange tokens of a new format to the addresses of compatible purses and Binance DEX. ERC20-MITH, located in the personal wallets of users or on other exchanges, will not be affected.

Mithril is developing a decentralized social network with the possibility of receiving awards for creating content. MITH rate on the background of this news has grown by more than 30%. Currently, it is the 144th largest cryptocurrency asset.