‘Bit­coin’ firms to drop EI links in ma­te­rial

Sunday Independent (Ireland) - Business & Appointments - - FRONT PAGE - Si­mon Rowe

EN­TER­PRISE Ire­land or­dered two fin­tech firms to re­move web­site in­for­ma­tion and amend de­tails in an in­vest­ment prospec­tus that ap­peared to sug­gest the State agency en­dorsed two sep­a­rate bit­coin-style fund­ing drives worth €2.5m.

Both firms — Min­go­coin and Con­fideal — had re­ceived startup sup­port from En­ter­prise Ire­land (EI).

How­ever, “out of the blue” they were con­tacted last week by EI of­fi­cials and or­dered to amend or re­move pro­mo­tional ma­te­rial linked to Ini­tial Coin Of­fer­ings (ICOS) that may have sug­gested the ICOS were en­dorsed by EI.

Cryp­tocur­rency firm Min­go­coin — which is chaired by for­mer Bal­ti­more Tech­nolo­gies chief Fran Rooney and cites One Di­rec­tion star Niall Ho­ran as a share­holder and brand am­bas­sador — aimed to raise €2m in a to­ken pre­sale which ended on Oc­to­ber 9. The pre­sale raised over €650,000 in the first hour alone.

A sec­ond Ir­ish-based bit­coin startup, Con­fideal, which al­ready raised about €550,000 in a pre-sale and is pre­par­ing to start an ICO on Novem­ber 2, was also or­dered by En­ter­prise Ire­land to re­move web­site ma­te­rial that may have sug­gested the State agency was a part­ner.

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