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Binance CEO Changpeng Zhao: Crypto’s killer app has arrived

Binance CEO Changpeng Zhao: Crypto’s killer app has arrived

Binance [BNB] token has been observing a good run since its launch as it climbed up the CoinMarketCap list and entered the top 10. Binance’s CEO, Changpeng Zhao has repeatedly expressed himself on the success of the coin and the future of Binance and cryptocurrency world. Changpeng Zhao also known as CZ, in a YouTube’s Venture Coinist interview, said that the crypto’s killer app is already here.

CZ noted the success of Tron’s BitTorrent Token [BTT] launch as a sign that ICOs will return and remain a powerful new way for companies to raise money. CZ said:

“ICOs got a little bit of a bad name because it’s total freedom. So there’s quite a lot of chaos. It was too hot. You could write a five-page white paper and raise $10 million. And of course, the founders want to do nothing other than write the next white paper. So it was getting too hot and with the bear market in 2018. A lot of people lost money and it gave a bad name to ICOs.”

He also said that if we look past this, raising money on the blockchain, blockchain fundraising, is a killer app which has many advantages and impactions to entrepreneurs, reported Daily Hodl. For this to happen, CZ informs that there is a need for best entrepreneurs and legit projects while making sure that the token economics makes sense. CZ added:

“So we need to make sure they don’t raise too much, keep the initial prices lower because the project is not out yet. So there’s a strong structure to raising properly, and that’s what we want Launchpad to do.”

As per the CEO, entrepreneurs are going to build the crypto industry and this could be instrumental for the cryptocurrency industry at large. CZ affirms that it will not only be the crypto industry who will be using this application but also other platforms. CZ concluded saying:

“The projects we support go through very detailed due diligence, and we want to make sure those are all legit, proper projects. Not every project will be successful in the end because there are many other factors that can cause startups to fail.”

The post Binance CEO Changpeng Zhao: Crypto’s killer app has arrived appeared first on AMBCrypto.

Published at Sun, 17 Feb 2019 17:03:46 +0000

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Cross Coin ICO to Use Venture Tokens, Raise Investments for Funding Startups at U.S-Russian Starta Accelerator

Blockchain platform Cross Coin has announced its plans to launch an ICO crowdsale, with an investment target of between $1.5 million and $5 million. The investment raised will be utilized to develop a large pool of technology startups under the Russian and American project Starta Accelerator. Cross Coin is expecting significant speculative interest in the secondary markets for its venture tokens, which will eventually end up driving its price further upwards.

[Note: This is a press release.]

Cross Coin has enabled its investors to maximize their returns by giving them the option to exit their positions at any stage of the project. Investors can also trade Cross Coin tokens on the secondary market while participating in the various growth stages of all the 21 startups.

Based in Singapore, Cross Coin intends to release the full 5 million tokens during its upcoming ICO. The ICO price per token has been set at $1.00 — a price which, the company believes will interest a large range of potential investors in the venture capital industry.

Cross Coin plans to allocate the first $1.5 million raised in the ICO to refinancing the 21 startups that passed the Starta Accelerator Program in 2016/2017. Any remaining funds after the successful allocation of the first tranche of funds will be set aside for investing in the next group of startups at the Starta Accelerator program.

News about the purchase of startups by strategic investors – ‘exits,’ in venture terminology – exercises a tremendous influence upon the price of their shares on the secondary market.  In this instance, the Cross Coin token issuer will get a percentage of the profits gained by the Starta Accelerator from the exit of each startup. Cross Coin will receive 33% of all the revenues generated from the exits. The profits, after deducting expenses will be utilized by the platform to buy back the tokens at market price.

Additional news triggers that influence the secondary market value of the tokens include an increase in revenues generated by the startups, partnerships with major market participants, signing up large players as clients of B2B startups, and acceptance of startups to large accelerator programs and further rounds of investments.

The prominent members of this combined project include Alexey Girin and Kayrat Kaliyev. Alexey Girin is an investor, co-founder and managing director of Starta Capital VC fund and Starta Accelerator. He brings over ten years of experience in venture capital sector to promote the accelerator program in the right direction. Similarly,  Kaliyev with over 13 years of experience in the financial sector, is also the deputy director of the Financial Technology Department at the Astana International Financial Center in Kazakhstan. He plays an important part in the ICO as the head of Cross Coin.

Starta Accelerator is an initiative of Starta Capital Foundation, and it was started in 2015 in New York, USA. The program is geared towards a business and cultural adaptation in the USA and integration into the investment ecosystem of technological startups from Russia and the Eastern European countries.

Cross Coin has call options for 33% of the Starta Accelerator 16/17 SPV, a company that owns 7% in each of 20 startups and 2% in the 21st start-up, all of which passed the Starta Accelerator program in 2016-2017. Each of the pool’s companies has been appraised with a market value of $1.9 million or higher.

Images courtesy of Starta Accelerator, AdobeStock

The post Cross Coin ICO to Use Venture Tokens, Raise Investments for Funding Startups at U.S-Russian Starta Accelerator appeared first on Bitcoinist.com.

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