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CoinLinked seeks to raise $5m in regulated Security Token offering

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Blockchain-based social network and commerce platform CoinLinked plans to raise $5 million in a regulated security token offering (STO). The California tech company will allow accredited U.S. investors (Reg D) and qualified non-U.S. investors (Reg S) to participate in the Series A funding round.

Launched in May this year by Wall St. veteran and CoinLinked CEO Jenny Q. Ta, the platform seeks to promote crypto as a means of payment globally. It enables anyone to buy anything available on the Internet with cryptocurrencies, including Bitcoin (BTC), Ether (ETH), and the stablecoin USDC.

The social networking aspect allows members to earn a cryptocurrency called CoinLinked Coin for sharing and commenting on posts to grow the network. Ta likened it to a hybrid decentralized/centralized amalgamation of Twitter, Instagram, and Amazon.

“The current offering will provide discerning investors with a highly selective opportunity to play a key role in taking our fully functional social marketing platform and proven crypto-commerce concept to the next level of AI innovation.”

The round will sell up to 200 units, each consisting of 12,500 CoinLinked Security tokens, at $25,000 per unit — equating to a price of $2 per token. Investors will be able to invest through USD, BTC, ETH, USDC, and XTZ.

Earlier this year, Ta told Cointelegraph Magazine’s Andrew Fenton that when the regulatory environment permitted it, she hoped to one day also link the security token’s distribution to participation in the social network and payment platform.

“So our two tokens are still independent of each other. But will there soon be a bridge between the two? I believe so,” she said. “I know it’s coming. And personally why do I want both of my tokens to be connected? It’s because we’ve all been social media users for the last 15-20 years and we’ve earned nothing.”

“We’ve seen the founders of these companies are super wealthy but as users we were the ones who helped them get there. There’s me and the shareholders and then the users and so I want to make sure everybody shares a piece of the pie.”





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Blockchain

Enjin joins Crypto Climate Accord, goes carbon negative

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Enjin, a blockchain gaming and nonfungible token platform, has stepped up to decarbonize its footprint by joining the Crypto Climate Accord, a move that adds further credibility to the industry’s growing environmental mandate. 

The Crypto Climate Accord is backed by 20 firms from the blockchain, fin-tech and greentech industries. Inspired by the 195-signatory Paris Climate Agreement, the Accord was established in April to address the “large and growing energy consumption of cryptocurrency and blockchain, and the climate impact of their energy use.”

Enjin claims that its JumpNet blockchain has already achieved carbon-negative status nine years ahead of schedule. In March, the company said it planned to enable carbon-neutral NFTs by 2030.

“The creation of new forms of technology should never come at the cost of destroying our environment,” said Enjin CEO Maxim Blagov. “Carbon neutrality for JumpNet is an important step toward our vision of a sustainable NFT ecosystem for Enjin and our partners.”

In addition to decarbonizing newly created tokens, Enjin’s environmental sustainability plan includes supporting the tokenization of the physical economy and decarbonizing existing digital assets. Other measures include upgrading to carbon-neutral nodes and incentivizing carbon reduction technologies.

Environmental concerns have virtually hijacked Bitcoin’s narrative this year, with the likes of Elon Musk casting shade over carbon-intensive mining. The Tesla CEO briefly embraced Bitcoin earlier this year before deciding that BTC payments are no longer acceptable due to environmental risks. Now, he states that his firm is willing to accept payments of the virtual currency, provided there’s more evidence for sustainable mining.

Related: Elon Musk lays out when Tesla will begin accepting Bitcoin payments

Other environmental sustainability efforts within crypto are also underway. As Cointelegraph reported, Tyler and Cameron Winklevoss’ Gemini exchange has purchased carbon credits to reduce Bitcoin’s carbon footprint. Separately, U.S. miner Stronghold Digital Miner recently announced that it raised $105 million to divert waste coal to cryptocurrency mining.