Novogratz’s ‘Crypto-Bank’ Is Backing Everipedia’s Blockchain Pivot

Novogratz’s ‘Crypto-Bank’ Is Backing Everipedia’s Blockchain Pivot 1

Galaxy Digital, the crypto-asset merchant bank launched by former fund manager Mike Novogratz, has made its first major investment.

Everipedia, the decentralized offshoot of Wikipedia, announced Thursday that it had secured $30 million through an equity sale led by Galaxy Digital’s EOS.io Ecosystem Fund. The funding round was restricted to strategic investors, according to statements.

The startup plans to use the proceeds from the round to launch its peer-to-peer network, led in part by chief information officer and Wikipedia co-founder Larry Sanger.

Everipedia announced last year that it was moving to the EOS.io blockchain, with its newly-envisioned infrastructure being built on top of that network.

The company now hopes to develop a censorship-proof system using smart contracts which record contributions while using a cryptocurrency token to reward contributors.

Sanger said in a new statement:

“In the era of fake news and a general distrust in central entities like governments, corporations and the media the world stands to benefit enormously from a decentralized and uncensorable knowledge base.”

Galaxy Digital was announced and launched last month by Novogratz, who sees it as a full-service bank for digital assets. The company was set to launch a hedge fund supporting crypto-projects, but the move was reportedly canceled late last year.

Books image via Shutterstock

Disclosure Read More

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

About the author

E-Crypto News was developed to assist all cryptocurrency investors in developing profitable cryptocurrency portfolios through the provision of timely and much-needed information. Investments in cryptocurrency require a level of detail, sensitivity, and accuracy that isn’t required in any other market and as such, we’ve developed our databases to help fill in information gaps.

Related Posts

E-Crypto News Executive Interviews



bitcoin
Bitcoin (BTC) $ 61,305.00
ethereum
Ethereum (ETH) $ 3,842.30
binance-coin
Binance Coin (BNB) $ 473.88
cardano
Cardano (ADA) $ 2.23
tether
Tether (USDT) $ 1.00
xrp
XRP (XRP) $ 1.14
solana
Solana (SOL) $ 159.52
polkadot
Polkadot (DOT) $ 44.14
usd-coin
USD Coin (USDC) $ 0.999364
dogecoin
Dogecoin (DOGE) $ 0.238535
USD
EUR
GBP
bitcoinBitcoin (BTC)
$ 61,305.00
ethereumEthereum (ETH)
$ 3,842.30
tetherTether (USDT)
$ 1.00
bitcoin-cashBitcoin Cash (BCH)
$ 630.49
litecoinLitecoin (LTC)
$ 190.14
bitcoinBitcoin (BTC)
52.799,85
ethereumEthereum (ETH)
3.309,24
tetherTether (USDT)
0,861265
bitcoin-cashBitcoin Cash (BCH)
543,02
litecoinLitecoin (LTC)
163,76
bitcoinBitcoin (BTC)
44,752.96
ethereumEthereum (ETH)
2,804.90
tetherTether (USDT)
0.730005
bitcoin-cashBitcoin Cash (BCH)
460.26
litecoinLitecoin (LTC)
138.80

Automated trading with HaasBot Crypto Trading Bots

Crypto Scams

Crypto Scams
Crypto Scams Still Persistent In 2021, SEC Warns About Red Flags To Watch
September 9, 2021
Poly Network
Here’s How Hackers Stole Over $600 million in the Poly Network Attack
August 12, 2021
The World’s Most Infamous Crypto Hacks and Scams
July 31, 2021
Cryptocurrency Exchanges
Cryptocurrency Exchanges and the Plague of Scams and Bans
June 29, 2021
What Role Do Cryptocurrencies Play In The Era Of Ransomware Attacks?
June 9, 2021

Blockchain/Cryptocurrency Questions and Answers

ICo Presale
The Science Behind ICO Presales…
October 14, 2021
Beginner’s Guide to Investing in Cryptocurrency
August 9, 2021
Short-Sell Cryptocurrency
How to Short-Sell Cryptocurrency: A Brief Overview
July 17, 2021
Klaytn
What Is Klaytn (KLAY) And How Does It Work?
July 16, 2021
Cryptocurrencies
Our Crypto Roundup Interview Asks- Do Cryptocurrencies Have a Future?
July 15, 2021


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin61,852 0.74 % 3.95 % 14.52 %
Ethereum3,868.1 0.83 % 0.69 % 8.70 %
Binance Coin477.65 1.26 % 0.13 % 14.18 %
Cardano2.240 0.76 % 2.25 % 0.28 %
Tether0.9986 0.03 % 0.08 % 0.23 %
XRP1.140 0.84 % 0.35 % 7.77 %
Solana159.95 0.91 % 6.21 % 0.65 %
Polkadot30.87 2.19 % 17.29 % 10.73 %
USD Coin1.000 0.14 % 0.20 % 0.17 %
Dogecoin0.2403 0.90 % 2.43 % 1.11 %

bitcoin
Bitcoin (BTC) $ 61,305.00
ethereum
Ethereum (ETH) $ 3,842.30
binance-coin
Binance Coin (BNB) $ 473.88
cardano
Cardano (ADA) $ 2.23
tether
Tether (USDT) $ 1.00
xrp
XRP (XRP) $ 1.14
solana
Solana (SOL) $ 159.52
polkadot
Polkadot (DOT) $ 44.14
usd-coin
USD Coin (USDC) $ 0.999364
dogecoin
Dogecoin (DOGE) $ 0.238535