Written by Mike Finch

Co-Founder and COO — ICO Alert
June 5 2018

ICO Alert Crypto Minute: June 5, 2018

ICO Alert Crypto Minute: June 5, 2018

In today’s Crypto Minute: Ripple donates $50 million to 17 universities, Another “CryptoSweep” ICO sent a cease-and-desist, Top 5 changes and 9 new ICOs starting today!

Cryptocurrency Ripple Donates $50 million to 17 Universities

The cryptocurrency Ripple has donated a combined $50 million across 17 universities, according to CNBC. Some of the schools include MIT, University of Pennsylvania and University of North Carolina Chapel Hill. Ripple SVP of Business Development, Eric van Millenburg said, “As globalization increases, so does the demand for technological solutions and talent to solve the world’s hardest financial problems, such as retail remittances.” As cryptocurrency businesses grow the need for jobs and talented employees continues to rise.

Ripple made the donation in USD, not in it’s own native cryptocurrency or another major cryptocurrency like Bitcoin or Ethereum.

Chinese Based Blockchain Developer Raises $234 Million After A Net Loss of $2.34 Million In 2017

According to Coindesk, the Chinese based blockchain platform developer Quilan has successfully raised $234 million through a Series B funding round. The funding primarily comes from Xinhu Zhongbao, a current investor in the company, who through this new series of funding will own 49% of Quilan. The deal is seeing scrutiny from Chinese regulators due to the large valuation growth amidst huge net losses ($2.34 million) for Quilan in 2017. This massive Series B fundraiser comes shortly after Robinhood raised $363 million, showing that while the cryptocurrency market is still slow the fundraising continues to climb.

The ICO “LevelNet” Receives A Cease-And-Desist From Vermont State Government

Accusations have arisen against the ICO “LevelNet” from the Vermont state government claiming that the project has not abided by the Vermont Uniform Securities Act, according to Coindesk. The project has raised $752,000 but has since been ordered to stop selling project tokens. This crackdown comes through the “Operation Cryptosweep” initiative that was started by regulatory authorities in North America.


Data pulled from CoinMarketCap.com at 8:55AM EST.
Data pulled from CoinMarketCap.com at 8:55AM EST.
Data pulled from CoinMarketCap.com at 8:55AM EST.
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Topics: Blockchain, Crypto Minute, Ripple, Legal, Cryptocurrency