November 5, 2019
Pretty much everyone knows about Facebook's plans to release its own cryptocurrency, Libra, at some point in the future. While Twitter founder and CEO, Jack Dorsey, did not follow Mark Zuckerberg down this path — that doesn't mean that he has any less interest in the emerging digital asset industry.
In other words, while Twitter is not working on its own digital currency, Dorsey is still interested in the industry enough to get involved by helping out an ICO platform known as CoinList.
Recently, CoinList started a new funding round, in which Dorsey decided to participate. The platform has already raised around $10 million, according to recent reports.
The platform also recently launched a token known as Blockstack, which stands out from many others due to the fact that it was registered, regulated, and fully approved by the US SEC (Securities and Exchange Commission). The SEC is known for hunting down fraudulent ICOs, as well as those which may have sold unregulated securities. The latest example of this came only days ago, when the regulator reached a settlement with a project known as Veritaseum (VERI), whose founder was ordered to pay back $8 million to his ICO investors.
As for Dorsey, his motivation in helping out CoinList lies in his desire to help the crypto community excel. He believes that the only way to do so would be for it to have a trustworthy platform, and he sees CoinList as a perfect example. To him, the platform has already proven its worth, competence, and legitimacy, and it can lead to the crypto industry.
CoinList has handled other legitimate cryptocurrency projects in the past, as well. The firm is actually a spin-off of another company called AngelList, which serves as one of the most trusted experts in back-checking projects and startups that wish to sell their tokens. As a company tightly connected to a firm that knows how to find a legitimate project, CoinList is in a perfect position to present such projects to investors willing to purchase new tokens.
This increases the security of users' investments, while it also helps legitimate startups, as it allows them to stand out and separate themselves from numerous scams that still plague the industry. All of this allowed CoinList to stand out itself, and attract some powerful backers and investors, including Polychain Capital.
The platform's first funding round resulted in $9 million, while the platform itself supported over $800 million worth of cryptocurrency via ICOs.
As mentioned, Jack Dorsey has been a firm believer in cryptocurrency for a long time, now. He did not keep his support of crypto a secret, either. He has been a Bitcoin supporter for many years, and he even went as far as to proclaim that he believes that BTC or some other similar crypto will one day become the currency of the internet.
With everything that has happened in the last several years, it seems like his prediction might be correct. The internet has certainly made quite a few steps towards becoming a virtual nation. Not only that, but Bitcoin also checks pretty much all the boxes that are necessary for becoming the main digital coin in the online world.
However, Dorsey still has no plans or intentions to create Twitter's own cryptocurrency. Also, he stressed that he has no intention of joining Facebook's coin, Libra, or supporting it in any way.
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