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In the Post ICO World, CoinList Prepares Crypto Projects for Investment

ICOs emerged quickly as a popular model for crypto startups to raise funds, exposure and customer interest. But the world of ICOs took a nasty turn in 2018, with many projects that used the model unable to deliver on their promises to investors or turning out to be downright phony.

Companies would begin their fundraising efforts and garner the capital they needed, only to completely disappear six months down the line. Meanwhile, all the money invested into their operations was usually unrecoverable and investors were stuck with wallets full of useless coins. By some estimates, over $500 million has been lost to fake ICOs.

Over time, other network-boosting efforts — from airdrops to hackathons — have become more prominent, paving the way for ventures like CoinList to enter the space.

First assembled in 2017, CoinList helps digital asset companies and networks manage their token sales. In an interview with Distributed, company co-founder and president Andy Bromberg explained that the platform initially began as a collaborative effort between AngelList and Protocol Labs’ to run the filecoin token sale.

“Based on that experience, and thanks to lots of help from both companies, we’ve built a leading platform to help token issuers handle capital-raising and the building of communities,” Bromberg said. “Our goal is to support token projects throughout their life cycles.”

Over the last two years, CoinList has privately and publicly worked with dozens of digital asset ventures, including Blockstack, PROPS, Origin and TrustToken, and has processed nearly half a billion dollars in individual token sales, per company estimates.

The company also helped facilitate an airdrop for blockchain-based, cloud-computing project DFINITY in May and June of last year. Approximately $35 million in tokens was provided to new users.

Bromberg is a fan of airdrops and said that they’re an easy and effective way for new crypto companies to issue tokens to interested parties and build a name for themselves.

“Users sign up for an airdrop and are given tokens into either an existing wallet or a newly generated one,” he explained. Though many tokens are given away at no cost, an airdrop can be a powerful way of bootstrapping a network and initiating customer awareness.

“In some sense, you can think of PayPal as one of the original airdrops, although they didn’t use a token,” Bromberg said. “They gave away PayPal credits to users as they signed up for the service.”

The company has recently introduced customers to a new product known as CoinList Build, which helps token issuers strengthen their developer communities and push innovation within their networks by hosting hackathons and similar events. A hackathon occurs over the span of just a few days and often features some of the industry’s top programmers working to enhance a software system or create respective applications through a network’s technology.

According to Bromberg, CoinList’s first hackathon with the open protocol system 0x resulted in more than 50 “high-quality projects” coming to fruition.

“As CoinList evolves to support the maturing industry, CoinList Build will help these projects succeed in their next phase of growth, which will be finding and incentivizing developers,” Bromberg concluded. “We’re just wrapping up our first one with 0x, which was very successful, but we have many more coming up. We’re obviously excited about the industry long term, but even beyond that, our pipeline makes us incredibly excited for what’s to come in 2019.”

A Former CFTC Chairman’s Plan for Federal Crypto Regulation

Timothy Massad, the former chairman of the Commodity Futures Trading Commission (CFTC), has outlined a case for better (read: stricter) federal crypto asset regulation in a substantial report for the Brookings Institute, “It’s Time to Strengthen the Regulation of Crypto-Assets.”

Square to Hire Full-Time Team of Open-Source Bitcoin, Crypto Contributors

Source: Twitter

Jack Dorsey, founder and CEO of social media giant Twitter and mobile payments company Square, announced that he is hiring a handful of full-time employees for the latter who will work on open-source contributions to the Bitcoin and cryptocurrency ecosystem. He added that the work done by this team, made up of three or four engineers and one designer, will be independent of Square's business objectives and all resulting work will be open and free.

Will #DeleteCoinbase Hurt Cryptocurrency Adoption?

There has been no shortage of news regarding trust issues in the cryptocurrency sphere. For example, the recent death of QuadrigaCX CEO Gerry Cotten revealed that he personally held the keys for the company’s reserves and they were lost, leaving platform users dependent on the Canadian justice system for a solution.

Huobi Introduces Coin Launch Platform

Source: Huobi

The Singapore-based cryptocurrency exchange Huobi has announce that "Huobi Prime," a coin launch platform, will go live on March 26. The service will allow professional and retail investors to purchase new cryptocurrencies before they are listed more broadly and potentially at lower costs. The announcement appears to compete with Binance's Launchpad service.