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<ul><li>The <keyword id="12311813" type="General" weightage="20" keywordseo="telos" source="Orion">Telos</keyword> blockchain just raised $8 million for its first ever set of marquee investors.</li><li>The funding amount will be used to hedge against a possible ‘prolonged bear market’ next year.</li><li><keyword id="12493969" type="General" weightage="20" keywordseo="douglas-horn" source="Orion">Douglas Horn</keyword>, the chief architect of Telos, told Business Insider that they kept away from marquee investors because they didn’t want to create any big whales that could influence the price of the TLOS token.</li></ul>The Telos blockchain platform, which is Ethereum compatible and based on EOSIO, just raised $8 million. While funds may not be breaking any records, it is the first time that Telos has leaned on marquee investors to bring in fresh capital — led by the co-founder of Code to Inspire, <keyword id="12493968" type="General" weightage="20" keywordseo="john-lilic" source="Orion">John Lilic</keyword>, who is also an investor in ConsenSys and Polygon. And, the change in philosophy comes as the company gears up for a possible bear market next year. “I have no idea what will happen next year but all bull cycles end,” Douglas Horn, the chief architect of Telos, told Business Insider. “This capital raise was not about expecting a bearish market but ensuring that we could keep growing and building in the event of one.” Simply put, just in case a ‘crypto winter’ sets in next year, Telos will still have the liquidity it needs to keep growing without having to sell off any of its TLOS tokens. <cmsannotation type="cmsannotation" annotationid="No big ‘whales’ to mess with TLOS token prices" comment="subhead" text="No big ‘whales’ to mess with TLOS token prices">No big ‘whales’ to mess with TLOS token prices</cmsannotation> Until now, the Telos blockchain funded itself entirely from bootstrapping with no large investors. As a result it doesn’t have any big ‘whales’ which cause market movement with just one click of a button. This helps the tokenomics remain stable. <div type="ExtQuote" text="“In the early phases of the project, we did not want to lop off a big part of the token supply to give to any group of VCs or others. That is the kind of thing that unbalances the tokenomics forever.”" auname="Douglas Horn, the chief architect of Telos, told Business Insider India"></div> According to Horn, if Telos had brought in this kind of investment earlier, the project would have had to sell off 30% to 40% of its tokens to venture capitalists. By waiting it out, the blockchain was able to keep the overall sale to 2% to 3% of the chain. <cmsannotation type="cmsannotation" annotationid="What is Telos going to use the money for?" comment="subhead" text="What is Telos going to use the money for?">What is Telos going to use the money for?</cmsannotation> As with most funding, the fresh capital will be put to use towards three objectives — development, marketing and liquidity. And, a big part of meeting these objectives is having the right people to drive the change. “We’ve expanded our development team by roughly 300%. Now we are looking to continue those expansions and bring in top level developers and marketers,” said Horn. The aim of bringing on marquee investors isn’t just about the money — it’s also about the skills, wisdom and the connections they offer, which can go a long way in finding the right talent. “We’ve had a very rapid scaling up lately from a $10 million project to a $100 million project and soon to a $1 billion project — perhaps by the end of the year. Next year is likely to see us grow to $10 billion and then $100 billion based on this pattern and the valuations of comparable chains like Solana and Cardano,” said Horn. SEE ALSO: <a href="https://www.businessinsider.in/investment/news/choosing-the-best-cryptocurrency-exchange-your-options-and-how-to-pick-between-them/articleshow/87539690.cms">Choosing the best cryptocurrency exchange — your options and how to pick between them</a> <a href="https://www.businessinsider.in/investment/news/illegal-mining-for-cryptocurrencies-remains-rampant-as-miners-look-to-maximise-profits-with-cheap-electricity/articleshow/87505141.cms">Illegal mining for cryptocurrencies remains rampant as miners look to maximise profits with cheap electricity</a> <a href="https://www.businessinsider.in/investment/news/cryptopunks-sees-another-bizarre-sale-in-seven-days-this-time-for-an-unreasonably-cheap-price/articleshow/87490463.cms">Another bizarre CryptoPunks' sale in the last seven days — this time for an unreasonably cheap price</a>

Telos is hedging against a possible ‘prolonged bear market’ with fresh investment from its first-ever marquee investors

<ul class="summary-list"><li><keyword id="11893899" type="UNKNOWN" weightage="60" keywordseo="vitalik-buterin" source="Orion">Vitalik Buterin</keyword> shared crazy online <keyword id="6366361" type="UNKNOWN" weightage="60" keywordseo="criticism" source="Orion">criticism</keyword> about him, and asked <keyword id="11892744" type="UNKNOWN" weightage="60" keywordseo="twitter" source="Orion">Twitter</keyword> for more examples Thursday.</li><li>The <keyword id="11892696" type="UNKNOWN" weightage="60" keywordseo="ethereum" source="Orion">ethereum</keyword> co-founder got thousands of answers, on topics from his supposed secret cabal to Ripple.</li><li>The 27-year-old is no stranger to <keyword id="12318134" type="UNKNOWN" weightage="60" keywordseo="trolling" source="Orion">trolling</keyword>, despite spearheading forward-thinking <keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword> projects.</li></ul>Ethereum co-founder Vitalik Buterin shared some of the nuttiest personal attacks, bordering on conspiracy theories, that he's ever received — and asked his Twitter followers for more."What are the craziest and most unhinged criticisms of me you've seen on Twitter or elsewhere?" he asked in a <a href="https://twitter.com/VitalikButerin/status/1481737116514017282">tweet Thursday</a>. "Here are a few good ones, I wonder what else people have seen that I haven't!"Buterin himself posted screenshots of comments describing him as an "alien crackhead" and a "Bond villain."The young crypto pioneer's own father jumped with <a href="https://twitter.com/BlockGeekDima/status/1481738314680094724?s=20">some of the wackier things</a> he'd seen online — such as that his son was a KGB operative working for Russian leader Vladimir Putin. Buterin was born in Russia, and his family emigrated to Canada when he was a child.He has received over 2,400 responses in the last 20 hours, which touched on topics from his supposed <a href="https://twitter.com/LefterisJP/status/1481742957891969034?s=20" target="_blank" rel="noopener noreferrer">secret ethereum cabal</a> to rumours of his <a href="https://twitter.com/MetaMarvin_/status/1481830397315010562?s=20" target="_blank" rel="noopener noreferrer">immortality</a>. Another took issue with a <a href="https://twitter.com/bearablemask123/status/1481739656513339396">purported comment on Ripple</a>. Some Twitter users took the opportunity to share more lighthearted responses, with many using memes to poke fun at missed deadlines for the eth 2.0 network updates, and similar teasing.<div type="image" title="Screenshot of a Tweet where the Twitter user is lightheartedly making fun of ethereum's missed deadlines" height="888" width="1184" msid="88905400" hostid="261"></div>Even though Buterin has spearheaded some of the most forward-thinking crypto projects in recent years, the 27-year-old is no stranger to criticism. Some people have taken ethereum development delays and network issues as reasons to go on the attack. This isn't the first time that Buterin has shared some of the harsher commentary he receives, In 2017, he <a href="https://twitter.com/VitalikButerin/status/830699480160796672?s=20">tweeted</a>: "Achievement unlocked: have been compared to Hitler by 2 different Reddit trolls!"John Lilic, product investment advisor at Polygon, is one of those who have <a href="https://twitter.com/JohnLilic/status/1481738078398169089?s=20">pointed out</a> the trolling endured by Buterin is a serious problem in the crypto world. Fervent supporters in one digital clan will turn on others — ethereum's creator has come in for abuse from bitcoin fans, for instance — and conspiracy theories can run wild.In defense of Buterin, Lilic said the crypto creator has "been working to make the space better since almost day zero."

Ethereum co-founder Vitalik Buterin asked for the 'most unhinged' criticisms of him on Twitter — highlighting the darker side of crypto

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Telos is hedging against a possible ‘prolonged bear market’ with fresh investment from its first-ever marquee investors

Prabhjote Gill

Ethereum co-founder Vitalik Buterin asked for the 'most unhinged' criticisms of him on Twitter — highlighting the darker side of crypto

Adam Morgan McCarthy

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