Synereo Burns its Primined Cryptocurrency Valued at $140m

[kreslik.news]

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.

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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 CEO, explained that since Synereo’s platform ... (read more)