The SEC filed an administrative proceeding today regarding a Cease & Desist instituted against SecondMarket and Bitcoin Investment Trust (BIT). The entire affair relates back to an event in 2013, where BIT, a Delaware trust whose sole assets were bitcoins, began offering shares on the… Read More
Before Facebook’s IPO, there was SecondMarket: a leader in the secondary trading market, which enables repurchases of shares in private companies. SecondMarket’s platform saw over $1.4 billion worth of transactions in 2014–quadruple the volume of its transactions in 2013. And today (Oct. 22), Nasdaq announced it had acquired… Read More
During the gathering of the SEC Advisory Committee on Small and Emerging Companies (ACSEC) considerable time was spent discussing secondary markets and venture exchanges. This is an area that has captured the attention of SEC Chair Mary Jo White. Having the SEC Chair as a… Read More
Congressman McHenry Proposes Striking Title III from the JOBS Act & Replacing it With More Effective Legislation. The House Financial Services Subcommittee on Capital Markets and Government Sponsored Enterprises has scheduled a hearing for Thursday, May 1st and the list of witnesses include some well known names… Read More
“MtGox is gone. So let’s prepare ourselves.” That is the first statement made in an article that ran yesterday in Business Insider entitled “I Have $285,000 Stuck On Mt. Gox.” Mt. Gox was once the de facto Bitcoin exchange, the first stop for those just getting into… Read More
Annemarie Tierney is General Counsel for SecondMarket, an online marketplace for buying and selling illiquid assets in the United States. SecondMarket burst onto the scene during the run-up to the Facebook IPO by facilitating transactions in Facebook shares sold by Facebook employees to members of… Read More
With the lifting of the ban on general solicitation, today marks the beginning of a grand experiment in capital formation in the United States. It is also a boon to a crowdfunding industry that has largely been on autopilot while the implementation timeline of the… Read More
In a Delivering Alpha segment on CNBC this morning, Second Market CEO Barry Silbert commented on the SEC’s revocation of the ban on General Solicitation, or advertising, for certain equity offerings. Silbert notes that $1 Trillion a year is raised via private offerings and this… Read More
Sites that enable technology startups to “crowdfund”–tap dozens of small-scale investors for needed capital–could help venture and seed investors raise their own funds online, VentureWire reports today (subscription required). At least one well-known seed-stage fund, Mountain View, Calif.-based 500 Startups, has tried a form of crowdfunding in… Read More
Equity crowdfunding is still in a holding pattern, hovering over the regulatory process in Washington DC. The merits of crowdfunding continue to become more self evident as progress is made in the UK and around the world. One subject about equity crowdfunding which has only… Read More
When President Obama signed the Jumpstart Our Business Startups Act in April 2012, the clock started ticking on a 270-day period for the Securities and Exchange Commission to write the regulations that would govern crowdfunding. That 270 period is over and no regulations exist. SEC… Read More
SecondMarket announced a strategic partnership with CircleUp last week. This on the tail of a similar partnership with Angellist in the Fall. Both partnerships, currently in beta, fall under the umbrella of SecondMarket+, an initiative that is selectively partnering with leading platforms to give SecondMarket investors centralized access to… Read More
AngelList was a big supporter of the JOBS Act, the legislation passed earlier this year that eased access to capital for startups and legalized crowdfunding. And I thought back then that the platform would likely consider facilitating crowdfunding once it became legal. With the SEC still working… Read More
In perhaps the worst kept secret in venture history, SecondMarket and AngelList have teamed up to allow accredited investors to legally invest purely online on AngelList for the first time. Basically, it’s getting a head start on the JOBS Act while we wait for it to become… Read More
For the majority of accredited investors, putting funds in an early-stage startup is no better than pissing thousands of dollars down the drain. In the past, angel investors have been multi-millionaires, even billionaires. They are classified as “sophisticated” or “experienced,” primarily because they can afford… Read More
Crowdfund Insider is the leading news website covering the emerging global industry of disruptive finance including investment crowdfunding, Blockchain, online lending, and other forms of Fintech.
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