Twitter and Square CEO Jack Dorsey Backs ICO Exchange Platform Coinlist

CoinList raised $10 million in the latest investment round. and plans to launch a cryptocurrency exchange and wallet using the funds

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Twitter and Square CEO Jack Dorsey recently participated in a $10 million raise from ICO platform CoinList.

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In a statement to the Wall Street Journal on October 30, 2019, Dorsey stated that CoinList presents an honest solution for coin launches:

“Crypto needs a trustworthy platform for launching new projects. CoinList leads the industry in that role, and trading is a logical next step.”

The news comes at a testing time for fundraising in the cryptocurrency industry, which has been fledgling since the ICO crash of 2018. 

Heavier regulatory controls globally – partially fueled by the U.S. Securities and Exchange Commission‘s reticence for the emerging ecosystem which has pushed regulators around the world to follow in their footsteps – and has helped create a ‘crypto winter’ over the past year and a half.

The SEC recently halted Russian company Telegram’s TON sale with an emergency restraining order. Telegram was started in 2013 by the brothers Nikolai and Pavel Durov, the creators of VK, the largest social network of Russia. Telegram is registered as both an English LLP and an American LLC.

The SEC stated in a document that Telegram failed to register a securities issuance and was “…committed to flooding the U.S. capital markets with billions of Grams by October 31, 2019”. 

Unlike in some other SEC enforcement actions that targeted crypto startups, an action against American-led Block.one, who capitalized on the hype in cryptocurrencies when it sold 900 million tokens in 2017 and 2018, raking in billions of dollars, the SEC didn’t accuse the company of fraud. Instead, the deal only said Block.one failed to register the sale with the SEC and provide U.S. investors with required disclosures and slapped them on the wrist with a mere $24 million fine.

Major projects such as Algorand, TrustToken, Blockstack, Nervos and Filecoin have used Coinlist for their token sales in the past and the company states it has helped raise over $500 million through more than 50 token sales.

Dorsey has pledged his long-term commitment to Bitcoin. Earlier this year his company Square launched Square Crypto, earlier this year with a small team to help with bitcoin and cryptocurrency development.

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About Richard Kastelein

Founder and publisher of industry publication Blockchain News (EST 2015), a partner at ICO services collective Token.Agency ($750m+ and 90+ ICOs and STOs), director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He sits on the advisory boards of some two dozen Blockchain startups and has written over 1500 articles on Blockchain technology and startups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat. Irish Tech News put him in the top 10 Token Architects in Europe.

Kastelein has an Ad Honorem - Honorary Ph.D. and is Chair Professor of Blockchain at China's first Blockchain University in Nanchang at the Jiangxi Ahead Institute of Software and Technology. In 2018 he was invited to and attended University of Oxford's Saïd Business School for Business Automation 4.0 programme.  Over a half a decade experience judging and rewarding some 1000+ innovation projects as an EU expert for the European Commission's SME Instrument programme as a startup assessor and as a startup judge for the UK government's Innovate UK division.

Kastelein has spoken (keynotes & panels) on Blockchain technology in Amsterdam, Antwerp, Barcelona, Beijing, Brussels, Bucharest, Dubai, Eindhoven, Gdansk, Groningen, the Hague, Helsinki, London (5x), Manchester, Minsk, Nairobi, Nanchang, Prague, San Mateo, San Francisco, Santa Clara (2x), Shanghai, Singapore (3x), Tel Aviv, Utrecht, Venice, Visakhapatnam, Zwolle and Zurich.

He is a Canadian (Dutch/Irish/English/Métis) whose writing career has ranged from the Canadian Native Press (Arctic) to the Caribbean & Europe. He's written occasionally for Harvard Business Review, Wired, Venturebeat, The Guardian and Virgin.com, and his work and ideas have been translated into Dutch, Greek, Polish, German and French. A journalist by trade, an entrepreneur and adventurer at heart, Kastelein's professional career has ranged from political publishing to TV technology, boatbuilding to judging startups, skippering yachts to marketing and more as he's travelled for nearly 30 years as a Canadian expatriate living around the world. In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, 'The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, Netherlands where he's raising three teenage daughters with his wife and sailing partner, Wieke Beenen.

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