Harvard has Invested $5M – $10M into Blockstack’s Token Sale

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Blockstack, the company that aims to create a decentralized internet, has reported that they want to raise $50 million in a token sale conform the SEC’s Regulation A+ exception.


The total number of tokens to be offered in the token sale will be 295 million STX tokens for $0.30 each.

“The net proceeds of the offering will be used to accelerate the development of its decentralized computing stack and app ecosystem,” said Blockstack representatives in a release.

In the meantime, it has been reported on Twitter that Harward has invested $5M – $10M in STX tokens.

Blockstack Ceo and founder, Muneeb Ali said in an announcement: “We’ve been working with securities lawyers to create a legal framework that can enable blockchain protocols to comply with SEC regulations.”

He added:

“This can potentially set a precedent for others in the industry, not just for public offerings, but also as a path to launch new public blockchains and establish a path to bootstrapping decentralized ecosystems.”

The Regulation A+ exception empowers companies to launch crowdfunding campaigns and sell securities to U.S. investors on two levels, $20 million or $50 million, each over a year time frame. A company gets a Regulation A+ offering by filing a statement about the offering with SEC, a step that Blockstack took today.

ICO-s or token offerings exploded in 2017 with billions of dollars in tokens sales. A long debate has started since that about these tokens if they are securities.

Is the history repeating itself and a new era of regulated token sales will start?

 

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Ethan Hunt

Bitcoin Maximalist and Toxic to our banking and monetary system. Separation of money and state is necessary just like the separation of religion and state in the past.

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