A recent boom in ICOs has seen them surpass early stage venture capital funding in the amount of money raised in the US, CNBC wrote in August, raising worries of a looming bubble as the price of leading cryptocoins like Bitcoin has skyrocketed. (gizmodo.com)
As of August 2017, Initial Coin Offerings (ICOs)-- a means of raising funds for a new cryptocurrency venture, whereby units of the new cryptocurrency are sold to early backers of the project in exchange for legal tender or other cryptocurrencies — were said to have collectively raised over $ 1.2 billion, surpassing early stage venture capital funding for internet companies. (slaw.ca)
The announcement speaks to the bursting local startup ecosystem, said Matt Golden of Golden Venture Partners, a mobile - based early stage venture capital fund in Toronto. (business.financialpost.com)