CoinList Raises $10M From Backers Like Twitter CEO Jack Dorsey For Crypto Exchange And Wallet

Ardent Bitcoin worshipper Twitter CEO Jack Dorsey was a part of investors who participated in CoinList’s crowdfunding, helping to raise $10 million.

The token offering platform will use the cash to come up with CoinList Trade which will be a new exchange platform. The money will also be used to develop a crypto wallet, Wall Street Journal reports.

This recent funding comes second which was held in 2018 spearheaded by Currency Group and Polychain Capital and others.

This was the first time that Dorsey had invested in the platform that was said to have aided firms that acquire about $800 million worth of tokens from August 2017.

Dorsey has been an ardent Bitcoin worshiper and also serves as the CEO of Square, which recently came up with a Bitcoin only developer wing at the beginning of the year. Dorsey recently lashed out at the Facebook’s Libra project claiming that it was against Twitter values.

CoinList was started in May 2017 and aids companies navigate the tough regulations dealing with initial coin offerings (ICOs) which is a major way to acquire capital for blockchain startups.

Dorsey praised CoinList as a legitimate and successful choice for coin launches saying that the crypto field requires a trustworthy platform for launching new projects and the company is definitely the leader for such a role. He also added that launching a trading platform is just a logical next step.

Some of the major projects that have been launched through CoinList includes Algorand, Blockstack, Filecoin as well as Dfinity.

This could be challenging to expand now considering the unclear regulatory controls. In the US, the U.S. Securities and Exchange Commission (SEC) continues to target ICOs.

According to CoinDesk earlier this month, messaging giant, Telegram’s ICO was halted due to an emergency restraining order obtained by the regulator regarding the firm’s 1.4 billion offering. The regulator and Telegram are scheduled for court on Feb. 18.

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