Startup Civil will return $ 1 million to investors due to the failure of the softcap

Home » ALTCOINS » Startup Civil will return $ 1 million to investors due to the failure of the softcap
Startup Civil will return $ 1 million to investors due to the failure of the softcap
2018-10-18 in ALTCOINS

A journalistic blockchain-startup from New York Civil announced the return of funds to investors, because of the failure to achieve a softcap. This was stated in the blog of the CEO Civil Matthew Isles.

Five days before the completion of sales of CVL tokens, a startup raised $ 1.34 million instead of the planned $ 8 million to $ 24 million. Matthew Isles said investors could request an immediate refund or Civil will automatically return them before October 29.

“This is bad luck for us, although we are not shocked. We expected a different result, but circumstances have changed, ” – said Matthew Isles.

Nevertheless, Civil does not intend to abandon its plans to launch a blockchain platform for journalists. In the near future, the startup will hold another round of sales of tokens, but this time it will simplify the process.

Isles also said that the Civil Foundation, which was to be funded through the sale of tokens, will continue its work. The head of the project noted that this was made possible by the investment of Ethereum-startup ConsenSys in the amount of $ 3.5 million.

In October, a Forbes representative said that the publication will begin to publish content on the Civil blockchain. As the WSJ reports, earlier the Civil team had unsuccessfully tried to cooperate with The New York Times, The Washington Post and Dow Jones.

Tags:, ,
CRYPTOCURRENCIES
  • bitcoinBitcoin$3,519.52
  • rippleXRP$0.315579
  • ethereumEthereum$117.65
  • tetherTether$1.00
  • eosEOS$2.30
  • stellarStellar$0.102303
  • litecoinLitecoin$30.80
  • cardanoCardano$0.042226
  • tronTRON$0.023209
  • moneroMonero$43.48
  • iotaIOTA$0.294711
  • nemNEM$0.054348
  • dashDash$68.19
  • neoNEO$7.40
The complexity Bitcoin mining is growing
As a result of the next recalculation of the complexity of mining Bitcoin on the night of January 14, this figure increased by almost 5%. The complexity of mining is a parameter of the blockchain network, which shows how difficult it is to perform a mathematical calculation to find a new unit and, accordingly, to […]
2019-01-18 0 5
Bitcoin volatility fell by 98% over the year.
Since January last year, the first cryptocurrency volatility has decreased by 98%. So, if on January 16, 2018, this figure was $ 3,468, then a year later – only $ 61, notes CoinDesk Markets analyst Omkar Godboul. The daily volatility over the past year decreased from 9.1% to 3.6%, although on December 16, 2018 was […]
2019-01-17 0 8
Will Ethereum hard fork Constantinople be launched this week?
Ethereum, one of the largest and most influential blockchains in the world, is planning to improve its code in the near future. A massive system upgrade, or hardfork, called “Constantinople” will include a number of technological improvements called to enhance practicality and the architecture of smart contracts. The Ethereum community will make a final decision […]
2019-01-15 0 31
The Brit​ish citizen was trying to buy a gun with cryptocurrency
David Mitchell, a 48-year old British citizen, was arrested by the US police after an attempt to purchase a gun with cryptocurrency via the dark web. Mr. Mitchell was planning to buy a Glock 9mm pistol which costs around £2,000. The man explained to the court that he was curious whether it is possible to […]
2019-01-14 0 18
© 2017–2018