Cryptocurrency News & ICO Alerts
Cryptocurrency News Blog – ICO News Feed
- Bitcoin News - 7 December 2022, 10:30 pm
United States-based users of Strike, a digital payments platform built on Bitcoin’s Lightning Network, can now transfer funds instantly and at a low cost to Kenya, Ghana, and Nigeria via the recently added new feature known as “Send Globally.” The new feature instantly converts the funds to local currencies prior to moving them to recipients’ […]Read More
- Cointelegraph.com News - 7 December 2022, 9:30 pm
The cryptocurrency exchange had previously reported that it expected losses of $500 million this year amid the bear market. Coinbase CEO Brian Armstrong has revealed that the exchange’s trading revenue has declined by approximately 50% or more when compared with last year, according to a Dec. 7 report from Bloomberg.Armstrong made the statement as part of an interview with the David Rubenstein Show. When asked about the exchange’s revenue, he stated that the company did $7 billion in revenue and $4 billion in earnings in 2021, but “it’s looking, you know, about roughly half that or less” in 2022.Bloomberg said that a spokesperson for Coinbase later clarified that 2022 revenue, not earnings, was projected to…Read More
- Cointelegraph.com News - 7 December 2022, 9:26 pm
Decentralized file-sharing services that Big Tech companies can’t control are the only way internet users will be able to maintain their freedom in the years ahead. While censorship resistance and privacy are not the same thing, they are closely intertwined. When the government or another entity, such as an advertiser, can track everything you do, they can also sanction you for bad behavior.Instead of working backward to try and cover up seismic cracks in Web2 with duct tape, it may be time to move full speed ahead on ensuring these same mistakes don’t happen in Web3. By being proactive, the purported internet of the future could actually protect our private information and prevent overzealous or…Read More
- Cointelegraph.com News - 7 December 2022, 9:08 pm
LINK marines pile in as Chainlink staking launches, but will the event turn out to be a buy the rumor and sell the news event for the altcoin’s price? Chainlink has a busy start to December when it comes to development launches. The Chainlink (LINK) staking program opened up for early access on Dec. 6 and will expand access on Dec. 8. According to Chainlink, staking will further secure the project’s node ecosystem and alerting mechanism: “Stakers gain access to staking rewards for securing the network through timely and valid alerts, and in the future, for slashing and loss protection.”Historically, mainnet launches and staking incentives stir up a flurry of blockchain activity and data from on-chain…Read More
- Cointelegraph.com News - 7 December 2022, 9:00 pm
New York Democrat Ritchie Torres introduced the short bills, which are meant to supplement more comprehensive legislation, earlier this month with little fanfare. United States Congressman Ritchie Torres has introduced bills in the House of Representatives to prohibit misuse of customer funds by cryptocurrency exchanges and to require exchanges disclose proof of reserves to the Securities and Exchange Commission (SEC). The short bills are intended to supplement other legislation that is passed on cryptocurrency, Torres said. Torres introduced the bills, which have the titles of “Crypto Consumer Investor Protection Act’’ and “Crypto Exchange Disclosure Act,’’ on Dec. 1. The bills are very short. In copies obtained from Torres’ office, the body of the first bill, introduced…Read More
- Cointelegraph.com News - 7 December 2022, 8:30 pm
EU officials previously rejected an outright ban on crypto mining, but the Markets in Crypto Assets bill could require firms to report any potential environmental impact. Fabio Panetta, an executive board member of the European Central Bank (ECB), proposed banning crypto assets with a significant environmental impact as part of efforts to address risks.In written remarks for the Insight Summit at the London Business School on Dec. 7, Panetta said harmonizing taxation around crypto between global jurisdictions could address some of the energy and environment costs around mining and validation. He added that tokens “deemed to have an excessive ecological footprint should also be banned,” referring to proof-of-work assets in a citation. Panetta added crypto…Read More
- Bitcoin News - 7 December 2022, 8:30 pm
Popular messenger Telegram now allows users to open accounts without the need to provide their mobile phone numbers. With the app’s latest update, they can log in using blockchain-based numbers instead, and they can be purchased with cryptocurrency on the Fragment platform. Telegram Promises ‘New Era of Privacy’ With Accounts That Don’t Require Phone Numbers […]Read More
- Cointelegraph.com News - 7 December 2022, 8:15 pm
The current weakness in BTC and major altcoins shows that investor sentiment remains negative and that bears are active at higher levels. The FTX crisis kept Bitcoin’s (BTC) price under pressure in November, but data from Bitstamp exchange shows institutional investors may have viewed the dip as a buying opportunity. The exchange told Cointelegraph that compared to October, its revenue from institutions increased by 34% in November.In another positive sign, Goldman Sachs executive Mathew McDermott told Reuters that the bank was doing some due diligence on crypto companies since they were “priced more sensibly” after the FTX crash.Daily cryptocurrency market performance. Source: Coin360ARK Invest said in the latest edition of its monthly “The Bitcoin Monthly” newsletter,…Read More
Report: FTX Execs Offered Taylor Swift $100M to Endorse the Exchange, Source Says Singer Never Considered the DealBitcoin News - 7 December 2022, 6:30 pm
According to a report, the American singer-songwriter Taylor Swift was allegedly courted by FTX to promote the exchange. Sources say the deal was worth more than $100 million and it was reportedly pushed by the FTX executive Claire Watanabe. Award-Winning Singer Taylor Swift Was Allegedly Courted by FTX Executives A report published by the Financial […]Read More
- Bitcoin News - 7 December 2022, 6:00 pm
It’s no surprise that the news about FTX has dominated the headlines over recent weeks. Since the debacle was made public, several other dominoes have started to fall including the announcement that BlockFi has filed for bankruptcy. Before all of this there was the LUNA/Terra implosion, and if you’ve been around long enough you’ll remember […]Read More
- Bitcoin News - 7 December 2022, 5:00 pm
Following the World Gold Council’s (WGC) third-quarter report that shows central banks purchased a record amount of gold, data released by the WGC shows that central banks are buying more gold during 2022’s fourth quarter. Statistics show that the gold held by the world’s central banks is at the highest level since 1974. Central Banks […]Read More
- Bitcoin News - 7 December 2022, 4:30 pm
Dogecoin fell to a ten-day low on Dec. 7, as the meme coin extended a recent decline, falling for a third consecutive session. Overall, cryptocurrency markets have been mostly bearish in today’s session, and are down 1.07% as of writing. Chainlink was another notable token to fall, and is currently trading by as much as […]Read More
|#||Name||Price||Changes 24h||Market CAP||Volume||Supply|
Cryptocurrency News: An initial coin offering (ICO) is the cryptocurrency industry’s equivalent to an initial public offering (IPO). A company looking to raise money to create a new coin, app, or service launches an ICO as a way to raise funds.
Interested investors can buy into the offering and receive a new cryptocurrency token issued by the company. This token may have some utility in using the product or service the company is offering, or it may just represent a stake in the company or project (Cryptocurrency News).
How an Initial Coin Offering (ICO) Works
When a cryptocurrency startup wants to raise money through ICO, it usually creates a whitepaper which outlines what the project is about, the need the project will fulfill upon completion, how much money is needed, how many of the virtual tokens the founders will keep, what type of money will be accepted, and how long the ICO campaign will run for.
During the ICO campaign, enthusiasts and supporters of the project buy some of the project’s tokens with fiat or digital currency. These coins are referred to the buyers as tokens and are similar to shares of a company sold to investors during an IPO (Cryptocurrency News).
If the money raised does not meet the minimum funds required by the firm, the money may be returned to the backers; at this point, the ICO would be deemed unsuccessful. If the funding requirements are met within the specified timeframe, the money raised is used to pursue the goals of the project.
Although ICOs aren’t regulated, the Securities and Exchange Commission (SEC) can intervene. For example, the maker of Telegram raised $1.7 billion in an ICO in 2018 and 2019, but the SEC filed an emergency action and obtained a temporary restraining order due to alleged illegal activity on the part of the development team.1 In March 2020, the U.S. District Court for the Southern District of New York issued a preliminary injunction, and Telegram had to return $1.2 billion to investors and pay a civil penalty of $18.5 million. Cryptocurrency News Blog
Special Considerations (Cryptocurrency News Blog)
Investors looking to buy into ICOs should first familiarize themselves with the cryptocurrency space more broadly. In the case of most ICOs, investors must purchase tokens with pre-existing cryptocurrencies. This means that an ICO investor will need to already have a cryptocurrency wallet set up for a currency like bitcoin or ethereum, as well as having a wallet capable of holding whichever token or currency they want to purchase.
How does one go about finding ICOs in which to participate? There is no recipe for staying abreast of the latest ICOs. The best thing that an interested investor can do is read up about new projects online. ICOs generate a substantial amount of hype, and there are numerous places online in which investors gather to discuss new opportunities. There are dedicated cryptocurrency news sites that aggregate ICOs, allowing investors to discover new ICOs and compare different offerings against one another.
Initial Coin Offering (ICO) vs. Initial Public Offering (IPO)
For traditional companies, there are a few ways of going about raising the funds necessary for development and expansion. A company can start small and grow as its profits allow, remaining beholden only to company owners. However, this also means they may have to wait a long time for funds to build up. Alternately, companies can look to outside investors for early support, providing them a quick influx of cash—but typically coming with the trade-off of giving away a portion of ownership stake. Another method is to go public, earning funds from individual investors by selling shares through an IPO.
While IPOs deal purely with investors, ICOs may deal with supporters that are keen to invest in a new project, much like a crowdfunding event. But ICOs differ from crowdfunding in that the backers of ICOs are motivated by a prospective return on their investments while the funds raised in crowdfunding campaigns are basically donations. For these reasons, ICOs are referred to as “crowd sales.”
ICOs also retain at least two important structural differences from IPOs. First, ICOs are largely unregulated, meaning that government organizations like the Securities and Exchange Commission (SEC) do not oversee them.3 Secondly, due to their decentralization and lack of regulation, ICOs are much freer in terms of structure than IPOs.
ICOs can be structured in a variety of ways. In some cases, a company sets a specific goal or limit for its funding, which means that each token sold in the ICO has a pre-set price and that the total token supply is static. In other cases, there is a static supply of ICO tokens but a dynamic funding goal—this means that the distribution of tokens to investors will be dependent upon the funds received (i.e., the more total funds received in the ICO, the higher the overall token price).
Still, others have a dynamic token supply which is determined according to the amount of funding received. In these cases, the price of a token is static, but there is no limit to the number of total tokens (save for parameters like ICO length).