Digital Asset Holdings raises more than $40m

Digital Asset, the blockchain company, raises more than $40 million during a Series B round
17 October 2017   2530

Digital Asset Holdings LLC raises $40 million in a Series B round, led by the New York-based Jefferson River Capital.

Thus, the funding takes total to over $110 million and positions Digital Asset for further expansion.

Distributed Ledger Technology has the potential to bring greater transparency, security and efficiency to financial services and beyond. We are in the early stages of an important technological transformation that requires strong engineering discipline to deliver credible and practical solutions. I am excited to join a world-class team that has the necessary skill and focus required to accelerate these important innovations, while helping our customers embrace the benefits of DLT.
 

Clyde Rodriguez
Chief Information Officer & CTO of Engineering

New hire Rodriguez is also a former co-CTO of Two Sigma Investments with 20 years of experience in enterprise software and cloud development. At Microsoft he formed and led the Azure cloud networking group as general manager. Earlier, he led Microsoft's Windows division in creating and delivering the first 64-bit Windows client and server operating systems.

According to the company, the Digital Asset Platform is the only Distributed Ledger platform to have been developed according to the production requirements of the world’s largest financial infrastructures. 

Bitfinex's LEO Token Whitpaper to be Released

Public stage of tokensale may not be conducted if hardcap of $1B won't be reached during closed sale
08 May 2019   268

Bitfinex Cryptocurrency Exchange published the whitepaper LEO token, with which it intends to raise $ 1 billion during the initial exchange offering (IEO).

It is expected that this amount will allow to fill the previously formed deficit of $ 850 million - the site operator will redeem tokens monthly for an amount of 27% of the profits.

Private stage of tokensale ends on May 11. If the intended hardcap won't be reached by this time, Bitfinex may refuse the public part of the campaign.

If fewer than 1 billion USDt tokens are sold by private token sale, the Issuer may thereafter sell remaining tokens at times and in a manner it deems appropriate in its sole discretion, consistent with applicable law. 
 

LEO Whitepaper

The issuer of the LEO token is Unus Sed Leo Limited, the newly registered IEO-iFinex platform.

The document also says that iFinex, which will be launched in June, will actively participate in the development of the second-tier Lightning Network.

iFinex has joined with a number of other companies and individuals to help develop and finalize the support for digital assets on Lightning Network. Ideally, digital assets developed and introduced by iFinex, including the LEO token, will be among the first digital assets launched on the Lighting Network.
 

LEO Whitepaper

In addition, Bitfinex plans to create a “a licensed and regulated security tokens exchange”, launch a derivative product with security at USDT and leverage up to 100x, as well as the Dazaar Big Data Marketplace and Betfinex exchange rates.

Another project will be the modular set of tools, libraries and protocols μFinex, based on the principles of open source. It will be used in both exchange and derivative products.

It worth reminding that in late April, the Attorney General’s Office of New York reported receiving a court order against Bitfinex in connection with the alleged loss of the last $ 850 million and the concealment of this fact from market participants.

Representatives of the trading platform said that we are not talking about permanent loss. These funds are frozen in bank accounts of Panamanian processing Crypto Capital Corp., located in four countries.

To ensure liquidity, Bitfinex was forced to use Tether Limited's funds for a loan and, according to the AG’s Office, has already received $ 750 million from the company's reserves. This was considered by the department as a crime.

On May 7, the New York State Supreme Court upheld the injunction against the Bitfinex Bitcoin Exchange, which does not allow Tether Limited to use its reserves for Exchange lending and other investment activities.