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Legion Raises $5 Million Backed by VanEck, Brevan Howard Digital and Major Exchanges

Legion secured $5 million in seed funding led by VanEck and Brevan Howard Digital, with major exchanges involved, to build a compliant ICO platform aligned with EU regulations.

Summary

Blockchain startup Legion raised $5 million in a seed funding round led by VanEck and Brevan Howard Digital, with participation from Kraken, Coinbase, and Crypto.com. The financing structure combines equity and token subscription rights, though valuation details remain undisclosed. Legion plans to develop a compliant ICO platform modeled after IPO standards, incorporating EU regulatory requirements such as detailed white papers and regular updates to prevent fraud.

Terms & Concepts
  • ICO (Initial Coin Offering): A fundraising method where new cryptocurrency projects sell tokens to investors, often compared to an IPO in traditional markets.
  • Token Subscription Rights: Agreements granting investors the ability to purchase newly issued tokens, typically at preferential terms, during or after fundraising rounds.