In 2017, ICOs (Initial Coin Offerings) blew up in the cryptocurrency market and raised a total of $5.6 billion dollars. Startups discovered a new way to fundraise and receive capital faster, by holding these coin offerings. Instead of going through the traditional VC route which pinholes their company early to a specific valuation, they decided to just go straight to individual investors to raise capital. They offer digital tokens in exchange for funding for their startup.
Traditionally, Venture Capital firms hire extensive auditors to research startup companies before actually investing in them. Due diligence is done …
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