Ceyuan Ventures, a famous venture capital firm, came up with a cryptocurrency investment. The investment in question was made for CHZ, not Bitcoin, ETH or DOGE. It was revealed that Ceyuan Ventures purchased 10 million CHZ tokens during a private placement in February 2019. The company’s 10 million tokens were transferred to a Binance wallet in December 2019. The Beijing-based fund invested only $200,000 during the private contract. Here are the details…
Beijing-based firm invested in CHZ, not DOGE
Beijing-based venture capital firm Ceyuan Ventures has been recognized as one of the largest investors in sports and entertainment blockchain project Chillz. In a recent post, a Chiliz supporter known on Twitter as Playmaker revealed that around 10 million CHZ tokens were received by a wallet owned by Ceyuan Ventures. Playmaker’s disclosure was enabled by an Arkham crypto anonymization tool that filters information about crypto trades and transactions. Using Arkham, details such as value, token, time and counterparty can be revealed and used to analyze crypto transactions.
According to Playmaker, the wallet affiliated with Ceyuan Ventures received the specified amount of CHZ tokens from a Multi-Sig wallet owned by Chiliz. The transaction took place during the private placement program in 2019. This transaction date information supports the already known fact about Ceyuan Ventures’ participation in dedicated sales. Playmaker’s reveal also offers various details. Arkham’s tool was able to filter the actual amount of tokens received. This helped calculate the total value of Ceyuan Ventures’ investment in the project.
Only $200,000 investment
According to calculations, Ceyuan Ventures purchased the CHZ coin at a private placement price of $0.0215. So he paid $200,000 for 10 million CHZ. Playmaker considered this a small investment considering Ceyuan Ventures’ situation. However, he clarified that his research did not reveal additional tokens received by investors in another wallet. Playmaker discovered that tokens received during the February 2019 private placement were moved to a Binance wallet in December of the same year.
The analyst said he did not conduct further research to find out if and when the tokens were sold. Other details provided by Playmaker were subjective and based on personal inferences from market behavior. He suggested that Ceyuan Ventures, like many other investors, may have sold their CHZ tokens. He based his opinion on the impressive bull run of 2020/2021, when CHZ climbed to $0.9. cryptocoin.com CHZ is currently changing hands at $0.134, according to data. It’s down 2 percent in the last 24 hours.
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