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Paxtradings Crypto Minute: February 23, 2018

PAX Trading > Crypto Minute > Paxtradings Crypto Minute: February 23, 2018

Telegram Planning a Second, Private Pre-sale Round

According to an exclusive from The Verge, Telegram sent an email to its investors explaining that the company is doing a second, private pre-sale round of its STO. Over the past few months, Telegram has already raised USD 850 million. While the fundraising target of this secret round has not been disclosed, two of The Verge’s sources claim Telegram is aiming to reach the same amount raised in the first round — which would bring the total amount raised to over USD 1.6 billion.

Iran Is Developing its Own Cryptocurrency

According to CNBC, Iran’s Minister of Information and Communications Technology, Mohammad-Javad Azari Jahromi, tweeted that the state-run Post Bank is developing its own cryptocurrency. This announcement follows unverified claims from Venezuelan president, Nicolas Maduro, that Venezuela raised USD 725 million in the first day of its pre-sale ICO round for the oil-backed cryptocurrency, Petro. The Central Bank of Iran is working with other institutions to control digital currencies in Iran.

U.K. Treasury to Conduct Inquiry into Cryptocurrencies’ Potential Impact on British Consumers, Businesses, and the Government

The U.K. Treasury announced it will conduct an inquiry into issues around cryptocurrencies and blockchain technology. According to CoinDesk, the inquiry will examine the role of cryptocurrencies in British consumers, businesses, and the government. The chair of the Treasury Committee, Member of Parliament (MP) Nicky Morgan, said the committee will also look at “the potential risks that cryptocurrencies could pose, including price volatility, money laundering, and cybercrime.”

Nasdaq Accuses Long Blockchain Corp. (Formerly Long Island Iced Tea) of Misleading Investors

Nasdaq has accused Long Blockchain Corp., the iced-tea company formerly called Long Island Iced Tea, of possibly misleading investors. According to Bloomberg, the company said it “strongly disagrees” with Nasdaq’s assertion and has appealed the official accusation. In its appeal, Long Blockchain Corp. wrote, “The notification letter stated that the staff believed that the company made a series of public statements designed to mislead investors and to take advantage of general investor interest in bitcoin and blockchain technology, thereby raising concerns about the company’s suitability for exchange listing.”


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