CoinList Raises $9.2 Million in First Round as ICOs Boom

(Bloomberg) -- CoinList, a digital coin sales platform, raised $9.2 million in an initial round of funding, the company said in a statement.

Cryptocurrency funds Polychain Capital, Digital Currency Group, FBG Capital, Libertus Capital, Blockchain Capital and CoinFund invested a combined $2 million, while venture fund Accomplice and Protocol Labs put in $7.2 million last year in what’s known as a series A round, according to the statement Thursday.

CoinList, which aims to list deeply-vetted ICOs for institutional investors, has processed more than $400 million in cryptocurrency investments, including Filecoin’s $205 million initial coin offering, in the past seven months, the company said.

Entrepreneurs have continued to raise billions in ICOs even as cryptocurrency prices slump. Blockchain startups have sold more than $3 billion in digital coins this year, more than half of what they raised in all of 2017, according to CoinDesk data.

Bitcoin fell 1.4 percent to $6,734 as of 1:09 p.m. on Thursday.

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