Cambridge Analytica to Plan to Issue Own Crypto

Well-known company was going to raise financing thru ICO
18 April 2018   1778

Cambridge Analytica planned to raise financing by issuing its own digital currency and then distributing it through ICO before the analyst firm was involved in a large-scale scandal involving the "stealing" Facebook users personal data. One source told Reuters that Cambridge Analytica has set a target of $ 30 million for its hypothetical ICO.

Brittany Kaiser, a former employee of the firm, said that Cambridge Analytica's own digital currency was to be used to enable people to store and sell their personal data on the network.

Who knows more about the usage of personal data than Cambridge Analytica? So why not build a platform that reconstructs the way that works?

Brittany Kaiser

Former employee, Cambridge Analytica

According to Kaiser, the head of the firm Alexander Nix was responsible for the project, who was dismissed in March, after it became clear that he was disseminating information about the company's participation in political events.

The scandal around Facebook and the dismissal of Nix, apparently, forced the firm to postpone plans about own virtual currency, although before that Cambridge Analytica contacted companies providing consulting services in the ICO field.

Prior to the Facebook controversy, we were developing a suite of technologies to help individuals reclaim their personal data from corporate entities and to have full transparency and control over how their personal data are used. We were exploring multiple options for people to manage and monetise their personal data, including blockchain technology.

Cambridge Analytica Spokesman

NYTimes talked with a consultant on blockchain technology Jill Carlson, who attended Cambridge Analytica meetings on the issue of digital currencies. According to Carlson, the company's approach was far from the ideas of openness and transparency, which became one of the reasons for the popularity of bitcoin and other crypto-currencies.

The way that Cambridge Analytica was talking about it, they were viewing it as a means of being able to basically inflict government control and private corporate control over individuals, which just takes the whole initial premise of this technology and turns it on its head in this very dystopian way.

Jill Carlson

Consultant on blockchain technology

Despite this, Cambridge Analytica managed to win over some cryptocurrency startups. Last summer, the company began to work with Dragon Coin, the issuer of a token on the Ethereum blockchain, used by visitors to the Macau casino. Cambridge Analytica did not play a big role in promoting Dragon Coin, but behind the scenes the company sent out letters to its partners and investors offering a free visit to the Dragon Coin event last year.

SEC to Unveil New List of Probable TON investors

One investor in this list is a ex-member of the managing board of the Bitcoin Foundation and partner of Ribbit Capital Mayer Malka
27 January 2020   482

Some names of large investors and the names of investment companies that could take part in the $ 1.7 billion token sale of the Telegram blockchain project became known, CoinDesk reportes with reference to documents issued by the US Securities and Exchange Commission (SEC) in the framework of the current proceedings.

One such investor is a former member of the managing board of the Bitcoin Foundation and partner of Ribbit Capital, Mayer Malka. He during the testimony at the beginning of the month mentioned Telegram CEO Pavel Durov.

Answering a question about whether Telegram is known for investors who can take on the role of validators in the TON PoS blockchain, Durov said:

We didn't put together a separate list of the purchasers who we would assume have experience in validating other networks, although it was obvious that certain investors… such as, for example, Micky Malka that we have discussed earlier, might… have experience in these processes of validation or at least were closely affiliated with parties that had experience in such processes.


Pavel Durov

Telegram CEO

In addition, Telegram Vice President Ilya Perekopsky, in one of his reports, named David Jan, the founder of ABBYY, a linguistic solutions development company, among potential investors. According to the correspondence published by the SEC, Ian asked Perekopsky if he could get an allocation in the ICO if he contacted Telegram directly without intermediaries in January 2018. “100 percent,” replied Perekopsky.

Also, TON investors could become the American funds Kleiner Perkins, Fortress, Draper Dragon, Dragoneer, DRW Holdings and Redpoint. This follows from the testimony declarations affixed by the SEC to the recent petition. In eight declarations, TON investors explain what prompted them to purchase Gram tokens. Company names have been removed from all documents, but they have remained in the file names. Sources familiar with the situation confirm that they really could take part in the ICO.

Most of the witnesses interviewed by the SEC indicated that they were interested in the possibility of supporting the Telegram project in the ICO TON, while the messenger itself does not accept funding for its main business. The announced investment amounts are on average $ 5-10 million. At the same time, Kleiner Perkins was initially offered an allocation of $ 15 million, but the company managed to agree on a twice as large investment, it follows from the submitted documents.