IEO Frauds are Waiting to Happen

The week began on a very negative note for the cryptocurrency industry. Matic, one of the first tokens issued via Binance Launchpad, witnessed one of the harshest crypto crashes. It plunged by up to 70 percent within a matter of two hours. The wild downswing led social media to scream price manipulation, with noted market…

ICOs Ate Away 87% of Their Raised Funds: Report

Blockchain projects that raised capital via the distribution of digitized private securities yielded 87 percent losses, according to the Block Crypto. The cryptocurrency news and research service found that the so-called initial coin offering projects, or ICOs, raised at least $14 billion to $65 billion between August 2014 and December 2018. But 90.2 percent of…

Bullish: Binance Introduces Bitcoin-Pegged Token Following US Closure

Binance, the world’s leading cryptocurrency exchange by volume, on Monday announced that its native blockchain would start issuing tokens backed by bitcoin. Dubbed as BTCB, the new token will represent the net amount of bitcoins that Binance would hold in reserves. The exchange confirmed that it would make those reserve addresses public, which would allow…