Week Ending 12.16.18
COINSOURCE IN FUNDING TALKS FOR INTERNATIONAL EXPANSION
VERTALO SEES ICO COMPLIANCE FIX AS CORE BUSINESS NEXT YEAR
NO-ACTION LETTER MAY BE SEC ICO WORKAROUND
AND MORE ↓
EYE ON A.I. GETS READERS UP TO DATE ON THE LATEST FUNDING NEWS AND RELATED ISSUES. SUBSCRIBE FOR THE WEEKLY NEWSLETTER.
Note: This will be our last newsletter this year. We will be returning in early 2019.
OUR LATEST EYE ON BLOCKCHAIN CONTENT
Coinsource in funding talks for international expansion
Coinsource, the Fort Worth, Texas-based cryptocurrency automated teller machine firm, has started talks for a funding round that will fuel its international expansion, according to General Counsel Arnold Spencer. Read our entire story here.
Vertalo sees ICO compliance fix as core business next year
Vertalo, the Austin, Texas based blockchain services firm, plans to focus much of its energies in 2019 working with companies that have completed initial coin offerings but still need to comply with existing regulations, CEO Dave Hendricks said. Read our entire story here.
MERGERS AND ACQUISITIONS
There was no M&A activity in the deals we are tracking
No blockchain related deals we are tracking were filed this week
NiuID, the San Francisco, California-based blockchain company, said it raised USD 2.5m in seed funding led by Jemison Investment.
Basis, the New Jersey-based cryptocurrency company, said it is shutting down due to increased regulation and returning money to investors. Bain, Andreessen Horowitz and the venture capital fund of Google parent Alphabet are among the the company’s backers.
LEGAL & REGULATORY
No-action letters may be a rare way for companies selling tokens to avoid falling under US securities regulations, according to a Coindesk report, citing the head of the US Securities and Exchange’s blockchain unit Valerie Szczepanik.
US SEC head Jay Clayton testified before the US Senate Committee on Banking, Housing, and Urban Affairs. On ICOs he said:
“I am optimistic that developments in distributed ledger technology can help facilitate capital formation, providing promising investment opportunities for both institutional and Main Street Investors. Overall, I believe we have taken a balanced regulatory approach that both fosters innovation and protects investors.”
Jared Rice, former CEO of AriseBank, and Stanley Ford, the company’s former COO, were ordered to pay USD 2.7m and banned from working for a public company for life over a fraudulent initial coin offering, according to an SEC statement.
OWIT Global, the West Hartford, Connecticut-based insurance technology firm using blockchain, said it hired Wendy Aarons-Corman as CEO.
No data sets we are tracking were released