Kakao's crypto unit raises $90 million in private coin offering

Bradley Prior

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Kakao's crypto unit raises $90 million in private coin offering

Kakao Corp.’s crypto unit raised $90 million through a private coin offering and is planning another round targeting a similar sum starting March 12, as it gears up to launch its blockchain platform in June.

The initial funding round, from October to December, reached its target despite the plunge in bitcoin prices, according to Jason Han, the chief executive officer of Kakao’s blockchain unit Ground X Corp. [Bloomberg]
 
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