Genie ICO hits its Soft Cap!https://medium.com/@genieico/genie-ico-hits-its-soft-cap-6e76ef005603Private token purchasers underwrite $3m in Genie ICO
We are very pleased to announce that Genie ICO has hit its Soft Cap of $5 million, with another $20 million in the pipeline! We had achieved about $2.5million through crowd sale; with the $3million underwritten amount, the current token purchase crosses the soft cap of $5million.
We have been in negotiations with a few private purchasers for the past month, with a potential purchase of $20 million. However, with the Chinese New Year holidays, the discussions slowed down. Now, that people are back at work in Asia, the discussions moved forward quite quickly.
The token purchasers have signed an agreement to underwrite $3 million to our ICO; with a further allocation of up to $7 million. Besides this, there are 4 other discussions in progress that could add another $10 million.