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Blockchain media startup Civil is issuing full refunds to all buyers of its cryptocurrency
2018-10-16T22:57:53Z - Kate Clark / TechCrunch
Many doubted The Civil Media Company‘s ambitious plan to sell $8 million worth of its cryptocurrency, called CVL. The company says “a new, much simpler token sale is in the works,” details of which will be shared soon. ConsenSys, a blockchain venture studio that invested $5 million in Civil last fall, has agreed to purchase $3.5 million worth of those new tokens. In a blog post today, Civil chief executive officer Matthew Iles wrote that the token sale failure was a disappointment but not a shock. Separate from its token sale, Civil has inked strategic partnerships with media companies like the Associated Press and Forbes, both of which confirmed to TechCrunch today that the failed token sale doesn’t impact their partnerships with Civil.

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