Jan 30, 2020 ⋅ 2 min read
According to a recent blog post, Blockstack PBC has successfully registered one million “Verified Users,” giving the company access to the remaining capital from its late 2017 token sale. The details of this Dec. 2017 STX offering prevented Blockstack from accessing 80% of the funds raised (worth nearly $50 million at the time) unless the startup could reach specific milestones. Blockstack reached Milestone 1 when it launched the Stack blockchain in Oct. 2018, whereas Milestone 2 locked away 40% of the raised funds until Blockstack registered one million human-owner accounts. Blockstack’s net return from reaching this latest milestone totaled only $6.8 million since (at least) a portion of the funds were held in crypto.
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