Jul 24, 2020
Crypto Deal Flow: July 23 and 24
July 23 and 24: 4 deals in cryptocurrencies and plus $54 million in the crypto industry!
- Spencer Dinwiddie | $1.35m | STO
NBA player Spencer Dinwiddie raised $1.35 million through security tokens at the Ethereum Blockchain, tokenizing part of his contract with NBA (contract value 34 million dollars). In total 9 tokens were sold to 8 buyers. The cost of one token = $150,000. Initially, Spencer planned to attract $13.5 million. The sale is registered in the SEC, and tokens have a label “Security Token” in Etherscan. Excellent tokenization case.
Source: https://decrypt.co/36427/nba-spencer-dinwiddie-raises-1-3-million-token-sale-sd26
2. Cambrian Asset Management| $4m | equity
The Cambrian Asset Management crypto fund raised $4 million to finance its operations and R&D. Investors have invested in equity and their names are not disclosed. The seed funding round was led by Renaissance Technologies and First Round Capital co-founder Howard Morgan, the family investment offices of Charles B. Johnson and Franklin Templeton, IVP general partner Dennis Phelps, and Business Insider and MongoDB co-founder Kevin P. Ryan, according to the fund
Cambrian: https://www.cambrianasset.com/
3. Bitcoin Suisse|$48m |series A round
Bitcoin Suisse, a digital services provider, raised $48 million in Round A. Zug-based Bitcoin Suisse concluded a 45 million Swiss franc ($49 million) round of fundraising with private investors, strategic business partners, and clients, it said in a statement on Friday. Former Vontobel investment banker Roger Studer emerged in May as a major backer. The funds are intended for development of the following services: lending business and staking services, as well as the custodial solution. A security token offering (STO) might also be in the works, but this will depend on market demand and Bitcoin Suisse’s capital requirements.
Source: https://www.coindesk.com/crypto-bank-hopeful-bitcoin-suisse-first-round
Bitcoin Suisse: https://www.bitcoinsuisse.com/
4. Stafi|Focus Labs, Spark Digital, B-Tech|$0.6m |seed
Stafi received $600,000 from Focus Labs, Spark Digital Capital and B-Tech (Bitmax accelerator). Stafi develops a solution that allows you to make liquid coins that are staked. As I understand it, the scheme works something like this: you steak DOT tokens through Stafi. In return, the platform produces rDOT tokens for you, which you can already use in any DeFi service, and after a while you will do the reverse exchange, but you will already get a little more DOT, because the percentage of the stake will “run out”. Looks like there’s going to be a real boom in synthetic assets that are going to boost crypto market.
Stafi: https://www.stafi.io/
