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cryptocurrency May 3, 2018

In today’s Crypto Minute: Telegram cancels Public ICO, Goldman Sachs to launch trading desk, and Coinbase discloses corporate data.

Telegram Cancels Public ICO, raises $1.7 Billion in Presale

According to an article by CCN, Telegram, the encrypted messaging app has canceled plans to hold a public ICO after raising $1.7 billion in funding from private investors during their pre-sale. The decision is based on the preference “not to undergo the operational and regulatory hassles of opening the offering to the general public”.

Goldman Sachs to Launch Bitcoin Trading Desk

According to the New York Times, investment banking firm Goldman Sachs will begin using its own money to trade bitcoin futures in the near future. The news follows the hiring of Justin Schmidt, who will be the investment banks first digital asset trader. While skepticism remains, the step to begin futures trading may indicate the growing interest by Wall Street to enter the cryptocurrency realm.

Coinbase Discloses Corporate Data In Response to NY Crypto Inquiry

First reported by Coindesk, the popular cryptocurrency exchange Coinbase has publicly shared parts of their corporate data. This data includes “the assets kept on Coinbase’s platform ($150 billion in total), the firm’s funding ($225 million to date), its financial position (“a profitable and self-sustaining business”), and its personnel levels (over 300 employees, 1,000 total when you factor in contractors)”.

Source: ICO Alert