UPDATE: At the beginning of this year, PressCoin, the self-styled “crypto-economy for the Indian press” had grand plans of raising $100 million through a freshly minted crypto token aptly called NEWS. Except, today, NEWS is nowhere to be found on crypto listings. How did this happen?
PressCoin raised about $25 million through the ICO of its token NEWS. Six months in, a lot has changed.
For starters, the old guard is gone. During the ICO, PressCoin had 17 members working with it. Seven members in its leadership team. Three world-renowned journalists on the advisory board.