Co-founder and CEO of cryptocurrency exchange BitMEX(story exchange), Arthur Hayes (Arthur Hayes) newsletter talked about the fact that his team analyzed 12 ICO, each of which managed to collect more than 50 million US dollars and tokens which until now was never released on the open market.
All projects are presented in the form of a table with detailed information about the amount of funds collected price tokens at the time of the last round and so on:
“As you can see from the above information, the amount of transactions is very large. A well-known and respected investment funds invested in these projects. But it’s unclear when the finished product will be presented in the market,” he added.
Hayes also told that he heard “some interesting history” about the funds, which bought a certain proportion of tokens of the above projects and want to sell them right away without waiting for a listing on the stock exchanges.
He believes, apparently, that the majority of these tokens will have no value. The US government recently took control of regulation of the innovation sphere ICO, so Hayes asks the question: “given the number of issued tokens, then who will buy them?”
“At the moment we can talk about any figures, but after January 1, the counter is reset. If projects manage to reach the final stage and to be listed on cryptocurrency exchanges, no more accounting tricks to hide huge losses of the funds that invested in the ICO”, he wrote.
On this subject also expressed a major business publication the Financial Times article titled “a Visual overview of the current cryptocurrency market”. It includes four pictures of various “drops”, which are accompanied by mocking comments to investors for their losses amid falling cryptocurrency.
“Bitcoin today is worth $4 600 per coin according to Coinbase and it’s not even the smallest mark, because on Tuesday, he went down even to $4 200. Only a drop of 30% in the last week” — ironically written by the author of the review Dan Mccrum. “The second most popular cryptocurrency Ethereum, also suffered a strong decline on Tuesday. The price of $137 is less than a tenth of their January highs, which were at $1 339”, he added.
Although the article was published in the private blog, all users noted the fact that the popular media in recent times negatively began relates to bitcoin, comparing it to various ICO, which are of high quality.
Also recently it became known that kriptosistema Grayscale Investments, the company lost $400 million due to a sharp reduction in the price of bitcoin over the last week.