just raised a $4 billion ICO

Cayman Island-based crypto company has raised $4 billion via its ICO, which sold a proprietary token, dubbed EOS. This marks the largest ICO to date, and makes EOS the fifth most valuable cryptocurrency. Interestingly, while has definitely attracted many investors, it did not have live product during the time it collected investments, meaning it raised this capital on investor confidence alone. launched its software over the weekend. The sky-high valuation is largely down to some investors’ assumptions that will offer a decentralized alternative to current cloud-hosting services, while others think it will be an improved version of Ethereum. However, hasn’t benefited from entirely smooth sailing — the company’s email system was breached last weekend.

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