In response to the news that "Blockstack has 1 million verified users and unlocked nearly $ 6.8 million in funds," Larry Cermak, research director of The Block, questioned, "Blockstack has less than 36,000 Twitter followers, but please note that they (claimed) have 100 Thousands of verified users. I mean it's too embarrassing … This shows that even registering with the SEC doesn't help much. "According to previous reports, according to the official blog of Blockstack founder Muneeb Ali, Blockstack PBC announced the completion of the second Phase milestone, the number of verified users reached 1 million, and nearly 6.8 million US dollars of funds were unlocked. According to the 2017 financing rules, funds can only be unlocked after the team has completed a specific milestone. On January 16, the Blockstack Advisory Committee considered that the second-stage milestone had been reached, and submitted a Form 1-U document to the SEC on January 29 to disclose this achievement. At the same time, the completion of the first stage milestone and the second stage milestone means that the mission of the Blockstack Token Fund and the advisory board has been reached and it was dissolved when the blog was published.