There are many stablecoins, but only one that has one investor who busted a central bank and another who used to help run one. Also, Google and Bain.
Basecoin developer Intangible Labs raised $125 million in a SAFT sale, SEC filings show.
Basis, the most well-funded stablecoin startup, says it couldn't overcome regulatory hurdles and is returning money to its investors.
A high-profile group of investors are backing an unknown startup's token sale, in an effort to evolve the "stablecoin" concept.