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How Much Cash Was Raised via ICOs in 2017

Publication Date: 25 Apr 2018 - By Market Mogul By Market Mogul
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IPO & Placements Thematic Macro Cryptocurrencies Technology Financial Services

2017 was undoubtedly the year that cryptocurrencies went mainstream.

With the meteoric rise of bitcoin and Ethereum came the equally impressive emergence of the initial coin offering (ICO) as a new mechanism for tech startups to raise cash. Despite being initially slammed due to their potential for scams, ICOs weathered the storm; just $2m was raised via ICO in January 2017, compared to $1,217m in December 2017.

All in all, over $5.6bn was raised for blockchain-based startups via ICOs in 2017 against just $1bn of regular venture capital. That is not to say that raising capital in this way is easy: of the 913 ICOs last year, 48% failed to reach their minimum threshold and consequently returned funds to investors.

This information first appeared on The Market Mogul.

 

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