Despite the rapid growth of the cryptocurrency market, some still see the initial coin offering as a fundraising method that is not sustainable in the long term. The latest fundraising numbers show otherwise. Recently collected data found ICO funding across the first quarter of 2018 sitting at over $6 billion dollars, according to CoinSchedule. That number is already substantially more than the total for 2017, and it's only April. Even excluding massive fundraising endeavors from companies like Telegram, who raised a record-smashing $1.7 billion through their ICO, contributions across the board still has vastly eclipsed numbers from last year.
Many more projects have received money in 2018, suggesting that investors are still interested in ICOs despite concerns about regulations, and the presence of scams. First-quarter ICO news was largely dominated by big projects, and big news from regulatory agencies. U.S. SEC Chairman Jay Clayton made headlines in February when he said how “every ICO I’ve seen is a security.” The SEC has halted some ICOs over the past few months by claiming founding teams were selling unregistered securities.
Clayton said in an April 5th speech that his agency did not see all ICOs as a fraud, but mentioned his interest in cutting down scams to protect consumers. The SEC recently announced charges against the co-founders of Centra Tech, which was able to raise millions of dollars for a purported cryptocurrency credit card. It was endorsed by some prominent celebrities, including rapper DJ Khaled and boxer Floyd Mayweather.
Despite government crackdowns and what many consider to be over-regulation, not to mention a lack of consensus among the various regulators, enthusiasm in cryptocurrency and blockchain projects remains very high. Many people still have great interest with investing in ICOs, and a growing number of traditional financial authorities are beginning to establish frameworks around virtual currency in general. IMF Managing Director Christine Lagarde published a blog last week expressing her hope that policymakers work towards sensible regulations for virtual currency. She also wrote about the transformative power of blockchain technology.
We have been watching a few ICOs that seem to have some interesting ideas and are also coming out this week. All we are doing is just presenting online information from a variety of different resources. We are not financial advisors. Please talk with an experienced and professional financial advisor before spending money investing in an ICO or in cryptocurrency.
This week we’re going into depth on OnePlusOne (CHK), Proof of Toss (TOSS), and Sandblock (SAT). We dug deep into each of these projects, and here’s what you need to know about the underlying value of each and why they might be worth investigating.
OnePlusOne is looking to encourage contributions to charity through a loyalty program where people can receive tokens. Proof of Toss is looking to revolutionize the betting industry with an open-source and decentralized platform. Sandblock is being created to make a centralized loyalty program so customers and merchants can have closer relationships. Keep reading to reveal our findings.
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