Ripio raised $31M during private tokensale

Argentinian blockchain based start-up raised big money in a private tokensale
12 October 2017   2681

The Argentinean start-up Ripio attracted $ 31 million during the private sale of RCN tokens. This is reported by CoinDesk.

The founders of the project attract investments to create a network of Ripio Credit Network, which unites borrowers, creditors and guarantors. Borrowers and lenders interact through Ethereum-based RCN tokens, and the guarantor undertakes to provide sufficient volume of lending operations to predict return on investment, debt management in the borrower's country of residence and to receive money on the debt obligation in case of default.

During the pre-sale in Ripio, FBG Capital, Maple Ventures and Blacktower Capital invested. According to the developers, investors from all over the world showed interest in the project, including Russia, South Korea and Canada.

We are extremely excited, that our pre-sale campaign was supported by both leaders of the blockchain industry and individual investors from all over the world. Our goal is to widen financial inclusion by extending credit lending globally, and for implementing it we have to have supporters worldwide.
 

Sebastian Serrano
Co-founder and CEO, Ripio

The launch of Ripio Credit Network was announced in September this year. In January, the Argentine start-up, previously working under the name BitPagos, attracted $ 1.9 million in investment and get rebranded. Venture funds Huiyin Blockchain Venture, Boost VC, Digital Currency Group and Draper VC invested in the project.

Neo Foundation to Withdraw $11M From Cold Wallet

These funds will be used to finance its operations in currrent reporting year and $190M are stiill in the vault
26 March 2020   198

On March 25, the Neo Foundation announced the withdrawal of 1,660,865 NEO ($ 11 million) from the cold wallet to finance its activities in the current reporting year. About $ 190 million are still in reserves.

According to rules established in the Neo White Paper, the NEO tokens maintained by the Neo Foundation are mainly used to continuously support Neo's technological development, ecosystem growth, community expansion and the normal operations of the foundation and related organizations. 

 

Neo Foundation

According to the publication, 1,660,865 NEOs were transferred “from a blocked account to a current account”. As the information on the blockchain shows, these funds were directed to an address containing 14.6 million NEO or about $ 100 million. The project does not disclose who controls this address and what fate awaits the released tokens.

White paper Neo suggests that project costs in any given year should not exceed 15 million tokens. In the near future, a financial report for 2019 will be published.

At the time of publication, NEO is the 23rd largest asset on the market with a capitalization of $ 479 million. The price of one NEO is $ 6.79.