Log in
Enquire now
Basis

Basis

Basis, formerly Basecoin, was a company developing a price stable cryptocurrency also known as a stable coin. The company closed in 2018.

OverviewStructured DataIssuesContributors

Contents

basis.io
Is a
Cryptocurrency
Cryptocurrency

Cryptocurrency attributes

Industry
Cryptocurrency
Cryptocurrency
Blockchain
Blockchain
‌
Algorithmic supply
Announcement URL
medium.com/basis-blog

Other attributes

Blog
medium.com/basis-blog
CEO
Nader Al-Naji
Nader Al-Naji
Company Operating Status
Closed0
Email Address
hello@intangiblelabs.co
press@intangiblelabs.co
Investors
Ceyuan Ventures
Ceyuan Ventures
Google Ventures
Google Ventures
Valor Capital Group
Valor Capital Group
Stanley F. Druckenmiller
Stanley F. Druckenmiller
INBlockchain
INBlockchain
Andreessen Horowitz (a16z)
Andreessen Horowitz (a16z)
...
Latest Funding Round Date
April 2018
Latest Funding Round Amount (USD)
133,000,000
Medium URL
medium.com/basis-blog
Pitchbook URL
pitchbook.com/profiles...221464-81
Previous Name
Basecoin0
Total Funding Amount (USD)
133,000,000

Basis, originally Basecoins, was 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 was 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 would be returning all capital to its investors and shutting down operations due to the difficulties of launching Basis in line with United States securities regulations.

Funding
Seed

On May 5, 2017 Basis announced raising an undisclosed amount of seed funding from IOSG Ventures.

Pre-sale

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.

Seed II

On February 21, 2018 Basis announced expanding their seed funding round with an undisclosed amount of funding from Social Starts and Access Ventures.

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.

Timeline

No Timeline data yet.

Further Resources

Title
Author
Link
Type
Date

$125 Million Raised in Basecoin SAFT Sale, SEC Filing Shows - CoinDesk

https://www.coindesk.com/basecoin-developers-raise-125-million-in-saft-sale

Web

Bain Capital and Andreessen Horowitz Confirm Investment in New Cryptocurrency Basecoin

Reuters

http://fortune.com/2017/10/16/cryptocurrency-basecoin-investment/

Web

Basecoin Revealed: A16z, MetaStable Seek Crypto Holy Grail With Stable Token

Pete Rizzo

https://www.coindesk.com/basecoin-revealed-a16z-metastable-seek-crypto-holy-grail-stable-token/

Web

Basecoin: A Price-Stable Cryptocurrencywith an Algorithmic Central Bank

Nader Al-Naji, Josh Chen, Lawrence Diao

http://www.getbasecoin.com/basecoin_whitepaper_0_99.pdf

Academic

Intangible labs Grabs $133 Million From Big Investors Backing Basecoin | Finance Magnates

Aziz Abdel-Qader

https://www.financemagnates.com/cryptocurrency/news/intangible-labs-grabs-133-million-big-investors-backing-basecoin/

Web

References

Find more entities like Basis

Use the Golden Query Tool to find similar entities by any field in the Knowledge Graph, including industry, location, and more.
Open Query Tool
Access by API
Golden Query Tool
Golden logo

Company

  • Home
  • Press & Media
  • Blog
  • Careers
  • WE'RE HIRING

Products

  • Knowledge Graph
  • Query Tool
  • Data Requests
  • Knowledge Storage
  • API
  • Pricing
  • Enterprise
  • ChatGPT Plugin

Legal

  • Terms of Service
  • Enterprise Terms of Service
  • Privacy Policy

Help

  • Help center
  • API Documentation
  • Contact Us
By using this site, you agree to our Terms of Service.