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| October 19, 2018

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Advertisers Allege Facebook Failed to Disclose Key Metric Error for More Than a Year

October 16, 2018 |

Facebook knew of problems with how it measured viewership of video ads for more than a year before it disclosed them in 2016, according to a complaint filed Tuesday by some advertisers. US Business

Former Top Chef Contestant Reveals She Has Just a Year to Live

October 12, 2018 |

Former Top Chef contestant Fatima Ali says she has a year to live. The 29-year-old, who appeared on Season 15 of the Bravo reality competition, underwent surgery to remove a tumor in January. However, Ali wrote Tuesday in an essay for Bon Appetit that the “cancer cells my doctors believed…

With 7 Suicides This Year in NYC, a ‘Crisis’ for Drivers

October 9, 2018 |

This year, seven for-hire drivers have committed suicide in New York City. The most recent, Fausto Luna, was an Uber driver who jumped in front of a train at a Manhattan subway station Sept. 26, ABC 7 reports. The other six were yellow cab taxi drivers or drivers for livery…

ICO Activity Down 90% This Year, Research Shows

October 9, 2018 |

ICO Activity Down 90% This Year, Research Shows

An independent study by Autonomous Research has found that initial coin offering (ICO) activity globally has dropped over 90 percent this year. With the high of about $ 3 billion in funds raised by token sales at the beginning of this year, September investments were less than $ 300 million, according to the firm.

Also read: 160 Crypto Exchanges Seek to Enter Japanese Market, Regulator Reveals

ICO Activity Plummeted

ICO activity was significantly down in September, according to a study by Autonomous Research. The firm wrote:

Last month saw about $ 300 million in ICO funds raised, with the month before that revised to a bit over $ 400 million, a far cry from the $ 2.4 billion in January of this year. If we include EOS and other chunky private token raises, the highs go to over $ 3 billion, suggesting that monthly ICO activity is down 90%.

Without taking “EOS and other chunky private token” data into account, the amount of ICO funds raised was down 88.53 percent last month from January. Otherwise, the drop reached 90.7 percent. “We’ve scrubbed token offering data from September, and the trend continues generally to be down,” the firm emphasized.

ICO Activity Down 90% This Year, Research Shows

Founded in 2009, Autonomous Research is an independent research company offering global investment research in the banking, investments, insurance, finance, and information service industries. Autonomous Next is the firm’s London-based practice focusing on “the impact of technology on the future of finance,” the firm’s website details.

Investors Losing Interest in ICOs

Autonomous Research noted three reasons that could explain the drop in token sale activity. “First, perhaps investors have devalued the idea of buying a utility token (does nothing yet, legally non-binding), and instead want to buy equity in the same companies,” the firm wrote. By examining “Pitchbook’s data on blockchain and bitcoin venture capital raises,” the firm found:

There is indeed a lagged effect in venture as well, with increasing drips of capital, reaching over $ 1 billion in August 2018.

ICO Activity Down 90% This Year, Research Shows

The firm believes that there are two reasons for this observation: “fintech companies like Robinhood and Revolut pivoting into crypto” and “Bitmain trying to vacuum up capital before the public offering.”

Security Token Offerings

ICO Activity Down 90% This Year, Research ShowsThe second factor for the decrease in ICO activity concerns security token offerings (STOs). According to the U.S. Securities and Exchange Commission (SEC), ICOs may be securities offerings and fall under its jurisdiction. “STOs are the new ICOs,” wrote blockchain consultant Michael K. Spencer, elaborating that “security tokens are actual financial securities.”

Citing that investments in security token offerings have not grown to full strength, Autonomous Research emphasized:

STOs won’t hit the market in earnest for another half-year at least due to regulatory indigestion.

The last reason the firm put forward relates to “the collapse/crisis in Chinese P2P lending since 2015, and whether that risk-seeking capital wound up in ICOs.”

While China attempted to shut down all service providers of cryptocurrencies and ICOs, token sale activity remains. The People’s Bank of China (PBOC), the country’s central bank, admitted last month that a number of crypto trading platforms originally set up in China have left the country to operate overseas but continue to provide service to domestic users. In August, reported that P2P crypto lending grows increasingly popular in China.

Do you think ICO activity will pick up soon? Let us know in the comments section below.

Images courtesy of Shutterstock and Autonomous Research.

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The post ICO Activity Down 90% This Year, Research Shows appeared first on Bitcoin News.

Bitcoin News


Sarah Palin’s Son Track to Spend Year in Custody After Domestic Violence Arrest

October 4, 2018 |

Sarah Palin’s oldest son’s arrest for allegedly hitting a woman he lives with is a violation of a deal he struck for a separate assault case … so a judge sending him to a halfway house. Track Palin was arrested last week on domestic violence…

‘Deliberate Act of Compassion’ a Year After Vegas Shooting

October 2, 2018 |

As a cloud-streaked orange sunset glowed over Las Vegas, officials, victims’ families and survivors of last year’s mass shooting at a country music festival marked the first anniversary of the tragedy by placing roses on a tribute wall and dedicating a memorial garden Monday night, the AP reports. The ceremony…

Jeff Bezos says he will invest $1 billion next year in Blue Origin’s New Glenn rocket program

September 20, 2018 |

Jeff Bezos will invest “just over $ 1 billion” next year in Blue Origin’s New Glenn rocket program, and the company will fly people to space “this coming year,” the Inc. chief executive said Wednesday.

Speaking during a keynote address at the Air Force Assn.’s Air, Space and Cyber Conference…

L.A. Times – Business

AutoNation’s Outspoken Chief Executive to Step Down Next Year

September 19, 2018 |

AutoNation CEO Mike Jackson, who stood out in the tight-lipped auto industry for his outspoken personality, will step down after leading the U.S.’s largest dealership chain for nearly two decades. US Business

ICC sentences ex-Congo VP to 1 year for witness tampering

September 17, 2018 |

Judges at the International Criminal Court on Monday re-imposed a one-year prison sentence and 300,000-euro ($ 350,000) fine on a former Congolese vice president for interfering with witnesses at his war crimes trial.
FOX News

New Thai laws mandate election by May next year

September 12, 2018 |

After a series of long delays and broken promises, Thailand’s military government has enacted laws that set in motion a countdown leading to new elections by next May.
FOX News