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May 8, 11:13 am
Binance CEO Exposes the Necessity for Having ICOs
Zhao Changpeng, the CEO of famous crypto exchange Binance has told that the initial coin suggesting (ICO) prototype is favourable for venture hacienda even with the risk of fraud.
Ter his blog postbode titled “ICOs – Not Just ‘Good-to-Have,’ But Necessary,” published on Monday, he described the necessity of having ICOs and mentioned how it is useful.
“Raising money through ICOs is about 100 times lighter than through traditional VCs, if not more.”
He considered Binance’s position spil one of the world’s largest crypto exchanges. It is possibly surprising according to its token sale spil well spil the exchange’s latest tiff with U.S. VC rigid Sequoia. He had previously sued by Sequoia ter Hong Kong for allegedly speaking to other investors while ter talks about a possible hacienda injection to the rock hard.
Ter his blog postbode, Zhao argued:
“A the vast majority of ‘professional VCs’ have no clue about the projects or field they invest ter.”
“Many of them have zero startup practice and don’t even have a basic understanding of the technologies involved their fields. I believe that compared to traditional VC invested projects, a larger ratio of ICO projects will succeed.”
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He told that investing your money ter such tokens might not get succeeded te a long run.
“Most ICOs are fresh startup projects, and have a high rate of failure, just like ter traditional startups. It is nothing fresh. Most ICO investors already know this. ICO investors are early adopters (and learners).”
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“The quicker movers will reap exponential benefits. Don’t get left behind.”