Civil (CVL) Pulls Plug on ICO After Falling Short of $8 Million Softcap2.13

Journalism startup Civil is pulling the plug on its much-hyped Initial Coin Offering after it met only 13 percent of its fundraising target. However, the company noted its blockchain project is not shutting down any time soon.

As reported by Fortune, the startup closed sales of its CVL token on Oct.15 after drastically failing to come close to the $8 million minimum target sought by its founders. The New York-based company is a decentralized news aggregator site which aims to provide valid information to readers by time-stamping data and to create “newsrooms” governed by CVL holders to incentivize workflow.

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