Bitcoin DApp Startup Files For First Ever $50 Million Offering With SEC

Blockstack just marked an industry first that could set a precedent for compliant token sales in the United States. The decentralized computing network that uses Bitcoin as the basis for its DApps filed a statement with the SEC to hold the first $50 million token offering using the SEC Reg A+ framework. Is this the start of many more to come?

ICOs Have Dropped Off a Cliff

ICOs were all the rage in financing in 2017 and even the first few months of 2018, until they quickly dropped off a cliff, killed by regulation.

ICOs, RIP

— Barry Silbert (@barrysilbert) October 11, 2018

When companies started finding out that what they were doing was tripping into securities territory and could actually be illegal, this type of unregulated free-for-all token sale sharply ended.

Depending on the jurisdiction, most blockchain companies are moving to new ways of financing. That’s either through STOs, private VCs, equity token offerings (ETOs), or a securities exemption such as the Reg CF.

Thus far, no other blockchain company has filed…