TECH CRUNCH - Mar 24 - BitClout is a social crypto-exchange where users can buy and sell tokens based on people's reputations. The app, which launches out of private beta, has already courted plenty of controversy inside the crypto community, but it's also amassed quite a war chest as investors pump tens of millions into its proprietary currency. Early backers of the platform's BitClout currency include the Silicon Valley investors including Sequoia Capital and Andreessen Horowitz. Other investors include Chamath Palihapitiya's Social Capital, Coinbase Ventures, Winklevoss Capital, and Reddit co-founder Alexis Ohanian. A report in Decrypt notes that a single wallet connected to BitClout has received ~$165M worth of Bitcoin deposits suggesting that huge sums have already poured into the network ahead of its public launch.
by Lucas Matney
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