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News Link • Cyberspace and the New Economy

$3 Billion: Initial Coin Offering Fundraising Hits Another Milestone

• by Josiah Wilmoth

Initial Coin Offering Fundraising Tops $3 Billion

Initial coin offerings have come along way since 2013 when J.R. Willett raised $500,000 to develop Omni (then known as Mastercoin). According to data obtained from CoinSchedule, there have now been more than 200 ICOs held during 2017 alone. Those initial coin offerings have raised a combined $3 billion, with more than $800 million of that coming from ICOs concluded in September.

Filecoin's $257 million ICO continues to lead all crowdsales, while the $232 million worth of bitcoin and ether raised by Tezos has reportedly grown in value to $400 million, even as the project has been beset by infighting that has boiled over into a public feud. Altogether, the top 10 year-to-date initial coin offerings have raised a combined $1.2 billion. However, these impressive fundraising numbers may soon be eclipsed by the tZERO initial coin offering, which Overstock chief executive Patrick Byrne predicts will "raise a fortune", potentially $500 million — or more.

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