An Amsterdam-based cryptocurrency exchange is facing an uncertain future. Blockport has declared bankruptcy after its security token offering (STO) failed to meet its minimum expectations last month.
Blockports STO failed to reach its soft cap of 1 million ($1.13 million) in May. Shortly after, the company filed for and was declared bankrupt, according to recently found bankruptcy records.
Since our first equity fundraising (STO) round was unsuccessful, we cant uphold our planned growth trajectory and therefore have to significantly scale down our operations and team, Blockport founder Sebastiaan Lichter told Hard Fork.
The Blockport STO launched on April 16 and ran until May 15. …
Read the full article at: https://thenextweb.com/hardfork/2019/06/04/blockport-bankruptcy-cryptocurrency-exchange-sto/