DraftKings Top Shareholder-Backed CoinScan Raises $6.3M To Combat Crypto Scams And Hacks
Portfolio Pulse from Mehab Qureshi
Crypto analytics platform CoinScan has raised $6.3 million in initial funding to fuel product development and expansion. Key investors include Shalom MecKenzie, the top individual shareholder of DraftKings Inc (NASDAQ:DKNG), and Tectona, a publicly traded digital asset company. CoinScan aims to combat crypto scams and hacks, which have led to nearly $1 billion in losses this year.
September 21, 2023 | 7:00 am
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NEUTRAL IMPACT
DraftKings' top individual shareholder, Shalom MecKenzie, has invested in CoinScan, a crypto analytics platform. This could potentially diversify DraftKings' interests and indirectly influence its stock.
While the news does not directly impact DraftKings' operations, the involvement of its top individual shareholder in another venture could potentially influence investor sentiment towards DraftKings. However, the direct impact on DraftKings' stock is uncertain.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50