American blockchain startup Basis, one of the most famous stablon projects, closes, and returns most of attracted $133 million to investors. It is reported by The Block with reference to its sources.

According to the publication, Basis faced obstacles from regulators, with the result that it was decided to complete the work and return borrowed funds. Among the project investors include Bain Capital Ventures, GV, Andreessen Horowitz, Lightspeed Ventures and several other firms.

Which Agency has any problems, the sources said. Nobody knows what exactly are not satisfied regulators in the business model or token of the project.

Cryptocurrency startup Basis began its work in 2017. His goal was to create stable coins through automated operations “algorithmic Central Bank”, which is based on the blockchain.

The sources of The Block noted that the Basis one of the best teams they have ever worked with, and they are willing to work with them again.

One of the major investors of the project in the comment to the edition stated:

“This is an extremely talented team with an extremely ambitious vision that solves a very difficult problem.”

To comment on rumors about the closure of the project, he refused, but noted that “we respect this team as much as before.”

Despite the bearish sentiment in the cryptocurrency market in 2018, the so-called “stablon” aimed at maintaining fixed values that became favorites this year. According to some experts, such as CEO XBTO Group Bekhazi Philippe (Phillippe Bekhazi), 2019 will also be the year tablconv.

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