By: Ian Allison
A long-rumored acquisition that finds two of the crypto industry's leading entrepreneurs teaming to back the world's sixth-largest blockchain has been confirmed.
Announced Monday, Chain, which raised more than $40 million from financial institutions including Visa and Nasdaq, in the process helping define the narrative for business interest in the technology through its partnerships and stage appearances, has been acquired in an undisclosed deal by Lightyear.io, a startup building on the Stellar protocol.
Closed officially September 5, the deal will find both brands combining to form a new entity called Interstellar to be helmed by former RRE Ventures partner and Chain CEO Adam Ludwin, who will serve as Interstellar's CEO, and Jed McCaleb, the creator of the XRP and Stellar protocols, who will be acting CTO.
The combined company will retain "100 percent" of Chain's employees, according to Ludwin, including co-founder Devon Gundry, who will remain on as chief product officer. All told, about 60 employees are now employed by Interstellar, Ludwin said.
While terms of the deal were not disclosed, Ludwin affirmed in interview that shareholders were bought out and that it was "a good deal for investors." Early estimates had pegged the deal as valued at nearly $200 million, which if true, would make it one of the year's largest.
However, while interest will likely remain high on the deal's lingering details, Ludwin and McCaleb were keen in interviews and statements to place their emphasis on the future.
In fact, Ludwin went so far as to suggest that the acquisition by Lightyear shouldn't be viewed as a change in direction, even though Chain's work focused largely on private blockchains.
Ludwin told CoinDesk: "If you look at our work with Visa, Citi, in every case, we made huge progress, but we would also find ourselves at an impasse when it was the partners who had to instantiate a blockchain. We needed a chain that anyone could access." #success #bitcoin #blockchain #turkey #portugal #property #pet #peru #petsofinstagram #hello #welcome #ocean #sea #horses #investors #managers #marketing #police #usa #england #bristol #gun #bike
I just had to!😭 target is just simply the best place to go to spend on unnecessary shit you don’t even need!🙂🙃🙂🙂🙂🙂🙂🙂🙂💁♀️ JKKAYYY! But for real it’s never a full moment at target 😭🙌 #targetdeals
New product is going out on the floor every day, and we all LOVE this cute pink ruffle hem tank! Paired here with dark gray leggings, a black floppy hat (so boho!), gold stud earrings, a pink & gold necklace AND also featuring the LOFT Cares card!
LOFT Cares cards have two benefits: first, it donates to the Breast Cancer Research Foundation. Second, it saves YOU money on purchases of $100+. Swipe 👈🏼 to see more details of the card. Next time you visit our store, ask an associate for details!
*cards available through 10-31-18 or while supplies last. Discount valid on purchases of $100 or more, through 11-15-18. Please see an associate for more details!
#loft #loftoutlet #thepinnacle #bristol #fashion #bcrf #breastcancerawareness #prettyinpink #boho #style #blogger #bloggerstyle #loftoutletbristol #loftcares #loveloft
오늘은 인생과자, 인생게임찾은 날
저 스위스초콜렛 진짜 흑흑 더줘
날씨 진짜 비 완전 오지게 옴
뚝심있는 영국인들도 우산쓰게 만들었음
그래도 안쓰는 사람이 더 많았음 푸핫
그리고 엄청 피곤해서 집 바로 갔음
집 갈때 스카이프하면서 가니까 시간 엄청 빨리감
^_^ 눈치없는척 종종 애용해야지!>.< @song_ji99 @kimji__h
암튼 두시간 정도 자고 놀러가는데 지갑 안들고감🤬
히히 그래두 친구들이 다 내줬담 푸하하
한국 기네스는 맛없는데 여기 완전 맛있음👍🏻
그리고 오늘 떠나는 친구 생일케이크도 불고
우노라는 게임을 했는데 진짜 핵핵핵잼
하아 2시간동안 두 라운드도 못한게 핵웃겨
그리고 클럽갈려다가 흠... 별로 좋지않아보여서
그냥 돌아가는데 나는 집도 멀고 방향이 혼자라서
친구들이 돈내주고 택시태워줬다 흑흑😭♥️
그리고 영국 택시 진짜 특이하다 봉고차임
그리고 기다리고있는 헝그리 시아버....ㅈ......^^!..
내일 놀러가는 건 어찌알고 날씨뉴스까지 친히...
#uk #bristol #pub #guiness #beer #cider #birthday #uno #cardgame #chocovo #nice #🇰🇷 #🇬🇧 #영국 #유학생 #인생과자 #인생게임 #우노 #기네스 #내일 #또 #만남 #큭큭 #매일 #매일 #일기 #스타그램 #화장지우기귀찮아
When my client came in, she had level 9 classic foiled highlights. Therefore, a line of demarcation along with very little dimension. In order to allow for a smoother grow out and less upkeep I balayaged pieces of her hair to give her various depths where the blonde starts and tint between the foils to break up the blonde and create more dimension! Thrilled with how this came out! 🙌🏻
HAPPY FRIDAY EVERYONE!!! 🤗We hope everyone had a good week and hope you guys have an even better weekend😁 🎉We just want to remind you all there is 2 WEEKS left to join the raffle to win this whitening kit!!! Go check out our first post about this kit for all the rules!! We will be announcing the winner on Friday, September 28!!!🍾 Good luck🍀 #Whitening #TeethWhitening #Dental #Bristol #SantaAna #Raffle #Free