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Binance Announces Launchpad Token Fundraise Platform, Plans to Add One Token Per Month

Distributed Summary:

  • One of the world’s largest crypto exchanges announced a new platform that “helps blockchain projects raise funds,” per press release
  • Plans to launch at least one new token every month in 2019
  • Will kick off with BitTorrent’s BTT token and Fetch.AI

The popular crypto exchange Binance has recently announced the opening of a new service on its website, Binance Launchpad, a vector for new tokens to raise funds.

According to a press release detailing some of the features of the new site, Launchpad “will allow at least one launch of a new token on a monthly basis during 2019,” starting with BitTorrent’s BTT and Fetch.AI.

According to Binance, this new platform “helps blockchain projects raise funds and increase their reach across the crypto ecosystem,” offering tokens from various projects to a user base that numbers in the millions. Of particular note is the fact that Launchpad is not only a means to give new tokens exposure but “it’s also a full advisory service for projects, which will benefit from [Binance’s] insights and experience.”

Binance has listed a fairly stringent set of standards that tokens must meet in order to take advantage of Launchpad’s services. In addition to “relatively mature-stage project development,” projects must also display “readiness for large-scale adoption, a strong and committed team” as well as the “potential to benefit the growth and development of the wider crypto ecosystem.”

BitTorrent’s BTT token, the first displayed on Launchpad, seems to incorporate many of these features. Already under the advisory of a fairly prominent digital company, BTT can also boast that it is “based on the [TRON] protocol, and it can be changed between users, and the benefits it will bring [are] faster network and downloads.”

Fetch.AI has fewer specific features listed in the press release, but is described as an artificial, intelligence-driven decentralized blockchain network.

Browser Extension Lets Users Shop on Amazon With Lightning Network

Source: CoinDesk

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FinCEN Takes First-Ever Enforcement Action Against Cryptocurrency Trader

Source: FinCEN

The Financial Crimes Enforcement Network (FinCEN) has assessed a civil money penalty against a peer-to-peer bitcoin trader for violating anti-money laundering (AML) regulations, its first enforcement action against a cryptocurrency exchanger. According to the agency, the exchanger failed to register as a money services business and failed to report "suspicious transactions," among other violations. The exchanger has been assessed a $35,000 fine and is now prohibited from providing money transmission services.

2019 Investments in Crypto and Blockchain Startups at $850 Million

Source: Reuters

According to data compiled by Pitchbook for Reuters, venture capital investment in crypto and blockchain startups has reached $850 million so far this year.

EEA Launches 'Token Taxonomy Initiative'

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