Blockchain Developer Dispatch Labs Suffers Losses Despite Market Recovery

Blockchain company Dispatch Labs is incurring considerable losses despite extensive investment and a recovering cryptocurrency market, technology-focused news outlet Cryptobriefing reported on June 14.

Initially, Dispatch Labs received funding from its executive team, subsequently raising over $13 million in a series of private rounds from other investors such as China-based capital firm Fenbushi Capital during the first half of 2018. However, the value of the raised capital slumped considerably following the market drop in the first quarter of the year.

The company’s CEO Matt McGraw reportedly said that the team had indicated the threat driven by the market downturn, however the company did not have sufficient over the counter (OTC) availability at the moment to liquidate millions of…

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