2017 ICO mania: 430 offerings raised $4.6 billion through November

January 18, 2018
150 Views


Whether the frenzy of initial coin offerings that swept the globe last year was a temporary phenomenon or the start of a lasting revolution, the bottom line is that the bottom line was huge.

A new report from the Crypto Valley Association and consulting firm PwC Strategy& notes that through the end of November, there were 430 ICOs worldwide, up from 2 in 2013. Those ICOs raised a collective $4.6 billion.

When the final numbers are tallied to include December, the total is likely to be significantly higher. October and November alone included five of the largest offerings ever, to the tune of $494 million.

The report highlights a few interesting trends. First, many of these ICOs involve U.S. entrepreneurs who are going overseas because of regulatory uncertainty at home. While ICOs are disrupting traditional venture capital, they also bestow large sums of money on companies that haven’t been heavily scrutinized by third parties, beyond the usual release of a white paper.

For the moment, Switzerland and Singapore stand out as leading hubs for ICOs, though there is a worldwide rush by governments eager to study the trend, so new regulations could change that landscape.

The Crypto Valley Association is based in Zug, Switzerland, which has adopted “Crypto Valley” as its moniker in a bid to become a center for blockchain companies.



Source link

You may be interested

The FUTURE Of Bitcoin & The SEC’s ETF Decision! – This Is Just The BEGINNING
Video
10 views
Video
10 views

The FUTURE Of Bitcoin & The SEC’s ETF Decision! – This Is Just The BEGINNING

Editor - August 14, 2018

Josh Sigurdson talks with author and economic analyst John Sneisen about the most recent SEC decision on Bitcoin as they…

Markets Update: Bloody Crypto-Markets Suffer More Losses
Bitcoin News
10 views
Bitcoin News
10 views

Markets Update: Bloody Crypto-Markets Suffer More Losses

Editor - August 14, 2018

[ad_1] Leading up until this Tuesday a great majority of cryptocurrency markets have lost considerable value over the past few…

What is WatermelonBlock ICO? Everything You Need to Know
ICO News
5 views
ICO News
5 views

What is WatermelonBlock ICO? Everything You Need to Know

Editor - August 14, 2018

[ad_1] You don’t have to look at the world of ICOs for long to realize that if there’s one thing…

Leave a Comment

Your email address will not be published.