Synereo Burns its Premined Cryptocurrency Valued at $140m

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Synereo Burns its Premined Cryptocurrency Valued at $140m

Postby » Sat Sep 17, 2016 11:24 am

Synereo, a Tel-Aviv based blockchain startup developing a decentralized, open-source social network, has destroyed an aggregated amount of 731,108,937 AMPs – the company’s native cryptocurrency – essentially eliminating half of all AMPs in existence in response to the community’s request.

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The destroyed AMPs have been held in various cryptographic wallets, controlled by Synereo, and were originally intended to be part of Synereo’s long term budgeting strategy. They were worth close to $146,221,787 on the market according to the company’s estimates.

Announcing the move, Dor Konforty, Synereo ... (read more)

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