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 May 5, 2017 Basis announced raising an undisclosed amount of seed funding from IOSG Ventures.
On October 16, 2017 Basis announced raising an undisclosed amount of capital in their cryptocurrency pre-sale from Thoobik Holdings, Distributed Global, DHVC, Curious Endeavors, Bain Capital, Andreessen Horowitz, 1confirmation, and Raymond Tonsing.
Initial coin offering (ICO)
On April 18, 2018 Basis announced their initial coin offering (ICO) raising approximately $133 million in capital. Investors participating in the ICO include ZhenFund, Wing Venture Capital, Valor Capital Group, Underscore VC, Sora Ventures, Sky Capital, Polychain, Pantera Capital, Oyster Ventures, and Stan Druckenmiller.
$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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