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Blockchain startup Tierion has completed its previously announced token sale, raising $25 million.
As CoinDesk reported earlier this month, Tierion launched its ethereum-based Tierion Network Token (TNT) as part of a bid to support the network effects of its Chainpoint protocol. The sale was launched yesterday with an initial closing date of August 10.
According to its website, the TNT sale raised a total of $25,032,609, slightly surpassing its stated goal.
The sale’s launch and subsequent closure comes just days after a major release from the US Securities and Exchange Commission.
On Tuesday, the agency published the results of an investigation into The DAO, the smart contract-based funding vehicle that collapsed last summer following a debilitating code exploit. The project sold more than $100m worth of tokens at then-current ether prices – digital assets that the SEC ultimately deemed a security.
The SEC said that in some circumstances, tokens issued via blockchain could be considered a security subject to federal regulations.
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