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ICOs

Are 80% of ICOs Scams? Statis Group LLC Stat Overview

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Back on March 21st, Sherwin Dowlat posted an article via Medium titled “ICO Quality: Development & Trading.” Dowlat is a researcher, apart from the Static Group LLC that bills itself as an “ICO Advisory firm” based out of New York.

Along with his partner, Michael Hodapp, they have constructed a rubric for how ICOs can be classified and ranked. The ICOs are broken down into 6 groups: Scam, Failed, Gone Dead, Dwindling, Promising, and Successful. I don’t quite understand the reason for the six, but there are six groups, none-the-less. Let’s dig into these groups a …

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ICOs

Statis Group Finds That Nearly 80% of ICOs in 2017 Were Scams

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ICO scams: The ICO advisory firm, Statis Group, just announced its recent study that showed that nearly 80 percent of initial coin offerings (ICOs) held in 2017 were scams.

The study took into account the lifecycle of ICOs, from the initial proposal of sale to the most mature phase of trading on a cryptocurrency exchange.

The study found:

“On the basis of the above classification, as a percentage of the total number of ICOs, we found that approximately 78% of ICO’s were Identified Scams, ~4% Failed, ~3% had Gone Dead, and ~15% …

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ICOs

SEC Chairman Distinguishes Cryptocurrency from ICO’s, Traders are Confused

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What is the difference between an ICO and a cryptocurrency? Well, according to SEC Chairman Jay Clayton, Cryptocurrencies such as Bitcoin (BTC) shouldn’t be considered a security, however, the agency chairman believes that an ICO is a security.

Why is this though? Basically, it comes down to the risk factor: An ICO is considered more of a risk for investors as many of these “coins” may not make to full fruition – meaning the return promised to investors may never happen. It is also well known that many ICO’s are purely fraudulent/scams disguised as legitimate investment …

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ICOs

The SEC Launched a Fake ICO – Did You Fall for It?

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The SEC launched a fake ICO website called HoweyCoins to educate the public on how to keep an eye out for fraudulent initial coin offerings.

The SEC Launched a Fake ICO, but Why?

HoweyCoins is meant to be an “all too good to be true investment opportunity” that shows how easy it is for scammers to set up something that looks believable.

“The rapid growth of the ‘ICO’ market, and its widespread promotion as a new investment opportunity, has provided fertile ground for bad actors to take advantage of our Main Street investors,” explained …

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