tZero to Finish Tokensale

The results of the token will be announced by representatives of Overstock on Thursday, August 9
08 August 2018   1912

TZERO company, a subsidiary of the retail giant Overstock, announced the completion of the Security Token Offering (STO), EconoTimes reports.

The fundraising campaign, available for accredited investors, was completed. The results of the token will be announced by representatives of Overstock on Thursday, August 9.

Investors with fully executed Simple Agreements of Future Equity (SAFEs) have until 5 PM (EDT) Wednesday, August 8 to remit funds to tZERO. The company plans to report on the results of the STO this coming Thursday, August 9, 2018, during Overstock’s earnings call.

tZero Team

Tokensale of tZERO by a model SAFT started at the end of last year. On the first day of the initial phase of the tokensale, the project collected an amount of $ 100 million. In total, the tZERO platform planned to raise $ 250 million to create a trading system that meets all the requirements of the Securities and Exchange Commission (SEC). The prototype of this innovative platform was introduced in April this year.

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   1010

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.