In an attempt to expand his involvement with cryptocurrency, the CEO of Twitter, Jack Dorsey is backing the crypto initial coin offering (ICO) crypto platform, CoinList. 

Backing Crypto

According to a report from the Wall Street Journal (WSJ), the Twitter chief took part in the latest CoinList funding round which allegedly raised around $10 million.

Commenting on his decision to back the platform, Dorsey said:

“Crypto needs a trustworthy platform for launching new projects. CoinList leads the industry in that role, and trading is a logical next step.”

For those that don’t know, CoinList was founded in 2017 as a spin-off AngelList. The ICO crypto platform initially received its backing from investment companies like Polychain Capital and raised more than $9 million in its maiden funding round.

Ever since the platform started, token sales have been supported worth more than $800 million. The firm claims to be an “SEC-compliant” ICO platform.

As reported by Bitcoinist:

“CoinList vets crypto and blockchain startups looking to run a token sale and connect them with accredited investors. According to its website, the platform offers support for both private and public cryptocurrency token offerings.”

Before we go any further though, it’s worth saying that just because Dorsey has got his teeth into this platform, doesn’t mean you should. Please do your own research before putting your money in a cryptocurrency and always remember to trade safe!

Dorsey is continuously getting involved with events in the space however he is adamant that Twitter won’t be following Facebook by releasing its own cryptocurrency. 

It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!

Source
Author: Robert Johnson

Categories: ICO

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