Cryptocurrency news

Blockchain project raised $42 million in tokensale

Blockchain project raised $42 million in tokensale

Project raised $ 42 million as a result of a public tokencash.
According to changecoins, this amount was collected by the project in just four and a half hours. 72 million tokens were purchased by investors from 100 countries.

The funds were raised in favor of the Lavina Foundation and related structures. Tokens will be distributed to investors after the launch of the main network, which will take place at the end of August.

In June, the labs conducted a tokensale project, during which the project raised $ 12 million. The funding round was led by Bitmain and Galaxy Digital.

Last year, the company raised $ 6 million in a Series a funding round. Investors included Andreessen Horowitz, initialized capital and Polychain capital, as well as individuals, including former 21 Inc CEO Balaji Srinivasan and AngelList website CEO naval Ravikant.

The total amount of funding raised by the project to date is 60 million dollars.

Earlier, in an exclusive interview with ForkLog, Emin gun Sirer spoke about the dishonesty of Bitcoin Core developers and the problems of mining in PoW systems.