Home News At Least 12 $50 Million+ ICOs Still Haven’t Launched Tokens, Says BitMEX Research

At Least 12 $50 Million+ ICOs Still Haven’t Launched Tokens, Says BitMEX Research

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At least twelve Initial Coin Offering (ICO) tasks that raised over $50 million of their token gross sales have but to launch, new data by cryptocurrency buying and selling platform BitMEX revealed Nov. 21.

In a mailing checklist round, CEO Arthur Hayes recognized well-known tasks similar to Telegram, Filecoin and Overstock’s tZero among the many twelve massive ticket ICOs nonetheless but to find out when precisely their native token will go reside.

“These deals have massive valuations, and many of the most venerated token funds took down large chunks. It is unclear when, if ever, these deals will ever list on the secondary market,” he commented, persevering with:

“Given the large amount of token supply out there, who will buy this s**t?”

“2019 is going to be the year of reckoning for many funds,” Hayes in the meantime concluded:

“If these things come to market, there will be no accounting tricks to hide the gargantuan losses that these funds will post.”

Hayes’ sturdy phrases summarize the troubles confronted by the ICO market this 12 months. Following virtually twelve months of bear markets in cryptocurrency, many tasks have hemorrhaged cash, with earlier analysis by Diar noting round 70 % are actually value lower than what they raised throughout their ICO funding.

Estimated in September when Bitcoin costs have been round 30 % increased than at press time, the determine is now prone to be increased nonetheless.

Other ICOs have since fallen foul of the legislation, with each Paragon and Airfox receiving orders to repay tens of millions of {dollars} to traders by U.S. regulators, who found both guilty of promoting unregistered securities within the nation.

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