Basis project shuts down, citing SEC security regulations [Seeking Alpha]
Riot Platforms, Inc. (RIOT)
Last riot platforms, inc. earnings: 8/8 04:30 pm
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US:NASDAQ Investor Relations:
ir.riotblockchain.com
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Source: Seeking Alpha
Basis, which describes itself as an algorithmic central bank, is shutting down and returning capital to investors, eight months after it raised $133M . Our lawyers came to a consensus that there would be no way to avoid security status for bond and share tokens (though Basis would likely be free of this characterization), CEO Nader Al-Naji said in a statement. Basis's backers include Andreessen Horowitz, Bain Capital, Pantera Capital, and Stanley Druckenmiller, among others. The project's goal was to create a de-centralized, stable, and robust monetary system. Applying U.S. securities regulations to its system would hurt its ability to launch Basis and reduce liquidity making its bond and share tokens less stable, Al-Naji explained in his statement. Now read: Riot Blockchain -3.4% after filing for possible capital raise » Subscribe for full text news in your inbox
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RIOT
Earnings
- 11/7/23 - Beat
RIOT
Sec Filings
- 4/18/24 - Form 8-K
- 4/16/24 - Form PRE
- 3/19/24 - Form 4
- RIOT's page on the SEC website