The Wall Street Journal

Twitter Inc. Chief Executive Jack Dorsey, a longtime bitcoin advocate, is making a fresh bet on cryptocurrency. Mr. Dorsey is one of several investors backing CoinList Inc., a two-year-old venture that helps startups raise money through token sales. CoinList has raised $10 million in a new round of funding, with Mr. Dorsey investing in the company for the first time, CoinList said.

With the added capital, the company said it plans to offer more services, including a new exchange, CoinList Trade, and a crypto wallet.

“Crypto needs a trustworthy platform for launching new projects,” Mr. Dorsey said in a statement. “CoinList leads the industry in that role, and trading is a logical next step.”

Mr. Dorsey has been critical of rival Facebook Inc. ’s plans to launch its own cryptocurrency-payments network, libra. He says Facebook’s mission differs from the values usually associated with decentralized cryptocurrencies. When asked at a conference whether he would consider joining the Libra Association, which includes various companies and nonprofits that are backing Facebook’s initiative, he replied: “Hell no.”


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