Have we hit "peak" cyrpto? Bloomberg highlights the story of a former tech banker that has left behind his former career to raise a $50m ICO focused VC fund that has backed about 20 new offerings so far.
They’re going in with eyes wide open. For Liu, who put together some of China’s biggest tech deals in his old job, the chance to shape the nascent arena outweighs the dangers of a market crash or crackdown. Loosely akin to IPOs, ICOs have raised millions from investors hoping to get in early on the next bitcoin or ether, and their unchecked growth over the past year is such that they’ve drawn comparisons to the first ill-fated dot-com boom. Yet with stratospheric bonuses largely a thing of the past, the allure of an incandescent new arena far from financial red-tape has proven irresistible to some.