Basecoin, now Basis, is a startup cryptocurrency company created by Intangible Labs in Hoboken, New Jersey. The founders of Basis are Josh Chen, Lawrence Diao, and Nader Al-Naji. It is designed to be robust, price-stable and backed by an algorithmic central bank that manages price volatility by pegging the value of Basis to other digital assets.
On December 13, 2018 Basis publicly announced the company will be returning all capital to its investors and will be shutting down operations due to difficulties launching of Basis in line with United States securities regulations.
On April 18, 2018 Intangible Labs raised $133 million in series B funding from 225 accredited investors which included Bain Capital Ventures, GV (formerly Google Ventures), Andreessen Horowitz, and Lightspeed Foundation Capital.
$125 Million Raised in Basecoin SAFT Sale, SEC Filing Shows - CoinDesk
Bain Capital and Andreessen Horowitz Confirm Investment in New Cryptocurrency Basecoin
Basecoin Revealed: A16z, MetaStable Seek Crypto Holy Grail With Stable Token
Basecoin: A Price-Stable Cryptocurrencywith an Algorithmic Central Bank
Nader Al-Naji, Josh Chen, Lawrence Diao
Intangible labs Grabs $133 Million From Big Investors Backing Basecoin | Finance Magnates
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