Initial coin offering ICO was in the near past discussed at length at a conference in London. Most of the attendants had no clue or had little information on companies making huge sums of the money by investing its Cryptocurrency. During the conference, a woman who refused to give her identity alleged that he had worked with the digital company during the dotcom bubble. She told the congregation that people were ignorant about the Cryptocurrency bonanzas that raise a lot of eyebrows.
Baroness Mone ventures in Cryptocurrency
New ICO investment was launched recently on 5th March by Baroness Mone baroness mone and Doug Barrowman. It allows investors $100 to secure full access to the previous pre-sale on investing $100,000.
In her new venture, Mone intends to raise $75 million before considering equip coin. She wants to use the platform to uplift initial stage companies in an online market. An online platform will offer access to capital merchandise.
Mone’s new investment has brought a lot of QUESTIONS in the market. The controversies surrounding ICO seems to have under the watch of the broader public. However, the full attention on money investment appears to have been favored by the entry of telegram in ICO business. Telegram is an app company similar to other social media applications. The company wants to raise about $2.55 billion. The ICO project will have three phases, and currently, it is only available to secretly investing institutions.
June is supposedly a month of great opportunities for companies dealing in the venture capitalist. The funds from the Silicon Valley will be combined with cash from ICO public stage. The merging will become the largest in the history of ICO.
Telegram’s founder Pavel Durov plans to expand the Dubai based messaging company by offering additional features like cloud storage, digital wallets, apps and payment platform.
There are reports that ICO recorded massive growth in 2017 raising $5.6 billion. Fabric ventures together with token data provide clear evidence of ICO growth. According to CB insight data, ICO has grown beyond conventional equity funding as an efficient source of finances for start-ups in the Blockchain.
Michael Jackson former chief of operations at Skype claimed that investors are making easy money on Cryptocurrency ICO boom. The former chief is currently a business partner to mangrove capital firm a branch of the venture capitalist. He further said that people are willing to invest their funds in ICO. With the new growth in Cryptocurrency companies raise funds without subscribing to various banks.
Cryptocurrency ICO Scams
Cryptocurrency companies are under scrutiny because of impostors in the business. In early January podium was to raise $6.5 million to come up with fruits and vegetable database employing Ethereum Blockchain. After initial four days, the company disappeared.
Another company that raised questions was Onecoin Company from Mumbai India. Which operated as a Ponzi scheme and it went away with $350 million. Reports and analysis from Ernst and young showed that about 10 percent of the finances raised in ICO investments were stolen.
ICO Regulation Confusions
More nations are considering regulating the Cryptocurrency sector. For instance, in the US the security and exchange commission has been closely monitoring companies dealing in ICO. In 2017 the SEC confused America, the regulators considered coins from several companies to be securities and therefore forbidden to retail businesses.
In the UK the regulators have not been active. William Garner claimed that it is difficult for FCA to form a right control of the sector. He, however, thinks that regulation will be formulated soon to control Cryptocurrency.