ICOs challenge investment banking, World’s first decentralized bank, Bitcoin rises in price and crypto dominance
ICOs make inroads on IPOs
According to Forbes.com, initial coin offerings represented 45% of the traditional IPO market in Q2 2018. ICO volume during Q2 2018 was approximately $7.2 billion while the US IPO market raised $16.0 billion. Expect this trend to continue as ICOs reach a broader investor audience and reduce the cost of raising capital.
Binance invests in Founders Bank
According to a July 12th press release, Maltese company Founders Bank will launch its first Equity Token Offering [ETO] on the Neufund platform. Founders Bank will be a decentralized bank owned by any purchaser of its token-based equity. Founders Bank has secured early investment from Binance founder Changpeng Zhao.
Bitcoin Hits 2-Month High, Dominance Rate Rises
Bitcoin’s (BTC) price has reached a two-month high and looks to extend its gains according to a key cryptomarket marker. According to Coindesk, the Bitcoin dominance rate increased to 46 percent — the highest level since December 20. A rise in the BTC dominance rate means the number one cryptocurrency is more in demand compared to the alternative cryptocurrencies.
Have a major development in mind or an opinion on a story listed above? Please submit your comments below to get the conversation started.