ConsenSys to Raise $200M, Media Reports

ConsenSys distributes presentation materials to Chinese investors, which say that the company expects to receive $ 50 million in revenue this year
16 April 2019   241

Based in Brooklyn, Ethereum-start-up ConsenSys is going to attract financing in the amount of $ 200 million from outside investors with a company's market valuation of $ 1 billion, the Information reports.

To this end, ConsenSys distributes presentation materials to Chinese investors. They say that the company expects to receive $ 50 million in revenue this year, mainly due to contracts with corporate clients and government agencies.

The publication also notes that in 2018, ConsenSys revenue amounted to "only $ 21 million." The structure of revenues, the sources of which are many supported by startups, is not specified.

The startup was founded in 2014 by Joseph Lubin, who at first financed ConsenSys from his own funds. Gradually, the number of staff of the company reached 1,200 people. However, when the price of Ethereum after the 2017 boom subsided sharply, the startup reduced 13% of employees. At the end of last year, as part of the reorganization, Lubin announced the launch of ConsenSys 2.0, as well as an emphasis on partnership with outside investors from the world of traditional finance.

In January, ConsenSys invested $ 1 million in the Coinhouse trading platform and an unknown amount in Tenta startup, focused on encryption.

Coincheck OTC to List ETH & XRP

OTC-platform from Coincheck aimed at large investors, started working about two weeks ago and minimum transaction threshold is 50 BTC
15 April 2019   286

Coincheck has added support for Ethereum (ETH) and Ripple's XRP token to the recently launched over-the-counter (OTC) platform. This is reported by Cointelegraph.

In addition to ETH and XRP, the Coincheck OTC platform supports Bitcoin. The management of the marketplace plans to add other cryptoactives in the future.

OTC platforms are focused mainly on large traders who want to reduce transaction costs when working with large amounts. In particular, transactions on such platforms are carried out outside the main book of exchange orders, which sometimes allows to avoid excessive price fluctuations. In addition, at such sites, investors often have the opportunity to buy or sell an asset at a better price.

OTC-platform from Coincheck started working about two weeks ago. The minimum transaction threshold is 50 BTC.

Last year, Coincheck fell victim to a massive hacker attack, during which over $ 500 million in XEM equivalent was stolen.

Then the exchange was bought by a large online broker Monex Group Inc. The deal amounted to $ 33.6 million.