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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><li>India’s Parliamentary Standing Committee on Finance has listed a meeting with the leading crypto players in India on its agenda for Monday, November 15.</li><li>This includes representatives from crypto exchanges like WazirX, CoinDCX, Coinswitch Kuber and others.</li><li>As reported earlier, India is looking at taking a softer stance on cryptocurrencies amid growing crypto investors and increasing blockchain adoption.</li><li>Rather than ban the crypto industry outright, like China, India is likely to go down the regulation route with a new crypto law expected to be tabled during the ‘Budget Session’ of Parliament in February 2022.</li></ul>Representatives from Indian crypto exchanges like WazirX, Coinswitch Kuber, CoinDCX and others are scheduled to meet with the Indian government today to discuss the way forward for cryptocurrency regulation in country today, November 15. The lower house of parliament (Lok Sabha) has <a href="http://164.100.47.193/lsscommittee/Finance/Meeting_notice/NOTICE_21-22%20(1).pdf">listed</a> the meeting as “Hearing of the views of associations, industry experts on the subject of ‘CryptoFinance’: Opportunities and challenges,” to be hosted by the Parliamentary Standing Committee on Finance. The Indian government is looking to take a <a href="https://www.businessinsider.in/cryptocurrency/news/indias-crypto-bill-will-still-have-a-few-hurdles-to-clear-before-becoming-a-law-even-if-the-cabinet-approves/articleshow/85397358.cms">softer stance</a> on cryptocurrencies with the burgeoning number of investors in the country, more crypto companies coming in and the growing adoption of blockchain technology. And, this will be its first-ever ‘official’ meeting with the top stakeholders in the country. Invited are the members of the India Internet and Mobile Association (IAMAI) Blockchain and Crypto Assets Council (<a href="https://www.businessinsider.in/cryptocurrency/news/wazirx-zebpay-crypto-and-others-are-setting-up-their-own-self-regulation-board-in-india/articleshow/83203195.cms">BACC</a>). BACC’s board is responsible for overviewing compliance for crypto exchanges with a set of self-regulatory guidelines which prevent against money laundering, terrorism financing, and other illicit activities. It’s not that these players haven’t been in conversation with the government in the past but that has mostly been <a href="https://forum.businessinsider.in/t/indias-new-laws-for-cryptocurrency-are-not-going-to-be-up-for-discussion-in-july/207">off-the-record</a>. This time around, the committee led by Lok Sabha member and junior minister of finance, Jayant Sinha has reportedly sent across a list of questions for BACC members to address, according to the <a href="https://economictimes.indiatimes.com/tech/technology/parliamentary-panel-to-meet-crypto-stakeholders/articleshow/87637142.cms">Economic Times</a>, <cmsannotation type="cmsannotation" annotationid="Why is the government asking India’s top crypto players?" comment="subhead" text="Why is the government asking India’s top crypto players?">Why is the government asking India’s top crypto players?</cmsannotation> The Indian government's change in stance, from wanting to ban cryptocurrencies back in February and now looking into the possibility of coexistence, has it asking crypto players, “Ask not what your country can do for you, ask what you can do for your country.” Sources told the Economic Times that the government is looking for answers to questions like the potential of the crypto industry’s to India’s digital ambition and its economy and its impact on the Indian rupee. It’s a big step to take amid repeated warnings from the Reserve Bank of India (RBI) over the past year on the ‘<a href="https://www.businessinsider.in/cryptocurrency/news/rbi-finally-explains-its-problem-with-cryptocurrencies-and-why-cbdcs-are-safer/articleshow/84666785.cms">grave concerns</a>’ it has with respect to cryptocurrencies. The central bank <a href="https://www.businessinsider.in/crypto-angadias-rbis-crypto-ban-might-incentivise-human-tellers-for-cryptocurrency-transactions/articleshow/63644805.cms">banned</a> cryptocurrencies altogether back in 2018 but the decision was overturned by the Supreme Court for being ‘<a href="https://www.businessinsider.in/finance/news/cryptocurrency-trading-can-restart-in-india-after-top-court-removes-rbi-ban-calling-it-unconstitutional/articleshow/74470872.cms">unconstitutional</a>’. <div type="ExtQuote" text="“Let me reiterate that cryptocurrencies are a very serious concern as far as the RBI is concerned and we have a serious concern from the point of view of macro-economic and financial stability.&quot;" auname="RBI governor, Shaktikantha Das, during a Business Standard event on November 10"></div> Despite the apex court’s ruling, banks in India continue to <a href="https://www.businessinsider.in/cryptocurrency/news/indias-banks-started-withdrawing-services-from-crypto-exchanges-earlier-this-month/articleshow/83109454.cms">remain wary</a> of the crypto industry, and a few continue to <a href="https://www.businessinsider.in/policy/news/cryptocurrencies-fight-to-survive-in-india-even-as-rbi-claims-theres-no-ban/articleshow/73483085.cms">refrain</a> from letting their customers transfer funds to crypto exchanges. The meeting is reportedly set to pave the way for crypto regulation in India, likely to be tabled during the February ‘Budget Session’ of Parliament in 2022. SEE ALSO: <a href="https://www.businessinsider.in/cryptocurrency/news/telos-is-hedging-against-crypto-bear-market-with-fresh-investment-from-its-first-ever-marquee-investors/articleshow/87597875.cms">Telos is hedging against a possible ‘prolonged bear market’ with fresh investment from its first-ever marquee investors</a> <a href="https://www.businessinsider.in/cryptocurrency/news/what-is-bitcoin-taproot-upgrade-promise-of-privacy-smart-contracts-and-cheaper-transactions/articleshow/87587315.cms">Bitcoin is set to get an upgrade after four years — it promises more privacy and better smart contracts</a>

Crypto players in India to meet with  government today to give inputs on the potential of cryptocurrencies in the country and its impact

Good morning, readers. Oil is on the move again, but one bank says it should tick back up come summer. Meanwhile, JPMorgan's quant guru sticks to his outlook for stocks and we give an update on how the Fed's policy moves may impact the market. Here we go. If this was forwarded to you, <a href="https://www.businessinsider.com/subscription/newsletter/10-things-opening-bell">sign up here</a>. Download Insider's app <a href="https://www.insider.com/app">here.</a><a href="https://markets.businessinsider.com/news/commodities/oil-prices-today-outlook-supply-demand-russia-oil-war-commodities-2022-3"></a>1. Oil prices have dipped from recent highs, but expect another surge. Oil down to $100 a barrel again is likely a short-lived phenomenon, UBS says. The Swiss bank expects tighter supplies to <a href="https://markets.businessinsider.com/news/commodities/oil-prices-today-outlook-supply-demand-russia-oil-war-commodities-2022-3">push the commodity back to $125</a> this summer as waning COVID-19 lockdowns spur renewed demand for global travel. The abrupt pullback this week is tied to a wave of new virus infectious and subsequent lockdowns in China, while some hope for a ceasefire between Ukraine and Russia eases fears of lasting supply disruptions. But no matter how you cut it, oil exports and production will be hurt by sanctions, and the situation in China isn't likely to diminish oil demand for very long. Meanwhile, Saudi Arabia is in talks with China for yuan-based oil sales, per a Wall Street Journal report, <a href="https://markets.businessinsider.com/news/currencies/us-dollar-vs-yuan-saudi-arabia-china-oil-sales-deal-2022-3">which could deal a blow to the global dominance of the US dollar</a>. For decades, the world's top oil exporter has traded crude exclusively in dollars, but a new agreement with China threatens to upend the status quo. Here's what to know: <ul><li>About 80% of global oil sales are done in dollars, and the Saudis have used only US dollars since 1974. </li><li>Yuan-based transactions would bolster China's currency at the expense of the dollar.</li><li>Crown Prince Mohammed bin Salam reportedly <a href="https://www.businessinsider.com/saudi-mbs-rejected-biden-request-discuss-russia-oil-crisis-wsj-2022-3?utm_medium=ingest&amp;utm_source=markets">snubbed Biden's request to discuss oil</a> last week.</li></ul><a href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-economy-will-avoid-recession-jpmorgan-kolanovic-inflation-2022-3"></a><div type="image" title="traders nyse laugh happy mask" height="500" width="1000" msid="90270174" hostid="261"></div>In other news:2. Global shares are in the green. Optimism over Russia/Ukraine peace talks is helping bolster sentiment ahead of the Fed's highly anticipated rate rise. <a href="https://markets.businessinsider.com/news/stocks/stock-markets-today-futures-fed-expected-rate-hikes-russia-ukraine-2022-3">Here's what's going on across the markets.</a>3. On the docket: Progressive Corp, Williams-Sonoma, and Telos, <a href="https://markets.businessinsider.com/earnings-calendar">all reporting</a>.4. These 10 "out of consensus" stock picks will smash expectations in a market with 34% upside potential in the coming 12 months. That's according to Bank of America analysts, <a href="https://www.businessinsider.com/stocks-to-buy-best-out-of-consensus-picks-bank-of-america-2022-3">who think the market is most underestimating this particular group of stocks. </a>5. Chaos in the nickel market has resumed. The London Metal Exchange was forced to stop trading within minutes following an unprecedented one-week halt, after heavy selling pushed the nickel price beyond the exchange's set limit. <a href="https://markets.businessinsider.com/news/commodities/nickel-price-london-metal-exchange-lme-halts-trading-chaos-commodities-2022-3">Read more about the aftermath of nickel's 'big short' here.</a> 6. Retail traders have been more aggressive buyers of the recent dip in the stock market than in any other correction since the '08 crisis, said Bank of America. While hedge funds keep selling, everyday investors are buying, wrote BofA analysts Tuesday. <a href="https://markets.businessinsider.com/news/stocks/stock-market-buy-the-dip-retail-traders-bofa-inflation-inflows-2022-3">In their view, heightened retail trader activity bodes well for future stock-market gains. </a>7. JPMorgan's quant guru is sticking to his bullish outlook for stocks. "Equities tended to firm up 3-4 months after the first [interest rate] hike, and make fresh all-time highs within 6-12 months," Marko Kolanovic said — <a href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-economy-will-avoid-recession-jpmorgan-kolanovic-inflation-2022-3">and he doesn't anticipate the economy falling into a recession.</a>8. Wall Street experts — including a former Fed insider — warned that the central bank will have to "sacrifice" the stock market to restrain inflation. In the coming months, some expect to see stagflation, and the Fed won't be willing to ease policy again to improve the growth outlook. <a href="https://www.businessinsider.com/fed-rate-hikes-inflation-stock-market-balance-sheet-ukraine-stagflation-2022-3">Here's what to know. </a>9. A 29-year-old who scaled up an online contracting empire explained how anyone can get started. She hired other freelancers, released an ebook, created online courses, and used Google Adsense and affiliate links. <a href="https://www.businessinsider.com/online-income-streams-recommended-by-freelancer-scaled-up-2022-3">She gave a breakdown of each of her unique income streams, and how to leverage them.</a><a href="https://www.businessinsider.com/gender-wage-pay-gap-charts-2017-3#men-have-earned-more-than-women-since-1979-the-first-year-with-available-data-1"></a><div type="image" title="Taylor Tyson/Insider" height="900" width="1201" msid="90270178" hostid="261"></div>10. Men have had higher median weekly earnings than women for decades. But that gap has narrowed over time, according to data from the Bureau of Labor Statistics. <a href="https://www.businessinsider.com/gender-wage-pay-gap-charts-2017-3#men-have-earned-more-than-women-since-1979-the-first-year-with-available-data-1">In the last quarter of 2021, women had median weekly earnings that were 84.4% of men's earnings.</a>Keep up with the latest <keyword id="11893875" type="UNKNOWN" weightage="100" keywordseo="markets" source="Orion">markets</keyword> news throughout your day by checking out<a href="https://www.insider.com/therefresh"> The Refresh from Insider,</a> a dynamic audio news brief from the Insider newsroom. <a href="https://www.insider.com/therefresh">Listen here.</a>Curated by Phil Rosen in New York. (Feedback or tips? Email <a href="mailto:prosen@insider.com">prosen@insider.com</a> or tweet <a href="https://twitter.com/philrosenn">@philrosenn</a>.)

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

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Crypto players in India to meet with government today to give inputs on the potential of cryptocurrencies in the country and its impact

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