Today Hedera Hashgraph announced it has raised $100m for its public distributed ledger platform. The money came from institutions and high net worth individual investors. Hedera is of note because it’s the closest thing to an institutional or enterprise public blockchain. It also stands out because it’s controversial in many ways.
Back in April when Ledger Insights spoke to CEO Mance Harmon, the likelihood was that they would only do a private token sale. However, today they announced a $20m crowdsale. That said, it will be restricted to accredited investors and uses SAFT.
Hedera’s conservative stance is reflected in the terms of that sale. Tom Trowbridge, President of Hedera said: “These are the same terms under which management and employees have invested over $10 million in the most recent round. Separately, the majority of the tokens granted to the co-founders vest in four to six years. This clearly demonstrates our long-term belief in, and commitment to the growth of Hedera.”
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
Image Copyright: Shape Swirlds, composite Ledger Insights
