The InvertUP intended to aid tech startups is to diversify the business by raising finance through Initial Coin Offerings (ICO). The company proposes to release 30 million ICO tokens at the cost of $0.10. The pre-sale is dated on 10th of January. Implementation on ICO campaign lets investors to invest funds less than $10,000 or even less and grants an exit option.
The Hycon’s ICO targeted to achieve 3500 BTC and emerged achieving 3508.355025 BTC in just 8 hours. It is worth approximately KRW 14.8 billion which is 13.9 million USD. The accumulated ICO is all set for Korean domestic market while another ICO will be raised in May 2018 globally for Glosfer’s infinity project.
The Securities Commission, Malaysia is intended to question a foundation registered in Singapore in Malaysia and the launch of Initial Coin Offerings (ICO). It is referred as the CopyCashCoin (CCC) which is planned to come into force on January 10 as reported to the media. It quoted “the public are also reminded to seek legal advice if they are in doubt about the applicable legal requirements”.
Giga Watt, a startup aimed at creating a cryptocurrency mining facility, it is bound by a lawsuit filed by their aggrieved investors. The investors have contributed nearly $20 million for the ICO launched by Giga, though their currency are now worth five times the investment, the investors are not given any crypto or tokens that should have been supplied. They exposed that their “money and time” is lost since the project is not developed any further.
Renren, popularly known as the dubbed version of Facebook launched in China during 2005, is to launch its ICO. The project is labeled as RR Coin proposing to raise 100,000 Ethereum. Having one billion bitcoins in total, RR Coin estimates to use 40% for its ICO, 25% for RR Coin Foundation, 15% for marketing and development of the project and 20% for the expansion of its business.
The Initial Coin Offerings (ICO’s) managed to raise $1.2 billion in December with the total investments ranging up to $5.6 billion in the course of previous year though bitcoin market had been recorded with fluctuations. The investors are given crypto tokens after investing in ICO’s rather than shares. Rating ICO’s to cause disruption in financial order; it had been banned in China contrary to the US.
According to Fortune, Indiegogo projected to take ICO to the next level. The actual ICO would be evaluated and the startups would be aided in the process of selling their customized currencies and tokens. It was noted that since the introduction of ICO, $3.5 billion has been raised with majority transactions happening in 2017.
The Overstock.com subsidiary tZERO had been observed with momentous investments. TZERO is registered with Securities and Exchange Commission (SEC) as an alternative trading system. The company publicized that the pre-sale to estimated purchasers is limited to $100 million and $150 million open to accredited investors. Patrick Byrne, CEO of tZERO detailed about bonus coupons for the first $10 million ICO sold.
Colu, the Blockchain startup has raised $14.5 million by venture capital and ICO from a business group located in Israel. The company had partnered with IDB group and uses Colu Local Network (CLN) token for local transactions which will also serve as incentive for trade payments.
With an aim to create and foster global digital nation, Estonia supports e-Residency initiative. Estonia formerly announced to develop its own cryptocurrency called the ‘Estcoin’. Ever since the launch of such initiative, nearly 30,000 have registered from more than 140 countries. If successful with the disposition of Initial Coin Offerings (ICO), world’s first state supported ICO would emerge in Estonia.