OK, let’s reiterate. ICO’s ARE here to stay. ICO’s are NOT in a bubble…..yet. How can we say that? Because acceptance is just beginning to set in AND the people doing them are some of the smartest folks ANYWHERE. Ex-Morgan Stanley CEO John Mack is looking to raise $950M (yes, $950M) via an ICO for Omega One. Innovation, plus smart people plus a new way to raise capital equals……….(not a fad) a whole new exciting world of opportunity. Oh yes, let’s not forget Mark Cuban is doing an ICO too. “What’s in your wallet?”
“According to bitcoin analyst and researcher Tuur Demeester, the former CEO of Morgan Stanley — the $89 billion U.S.-based bank — is seeking to raise over US$950 million in an initial coin offering (ICO), merely a few days after prominent boxer Floyd Mayweather raised over US$30 million in an ICO he sponsored.
ICO Second Wind?
John Mack, the former CEO of Morgan Stanley, stated:
“I have been watching and investing in the cryptocurrency market over the last several years… We think Omega One is going to be transformative because it benefits the entire ecosystem – making crypto assets cheaper and easier to access.”However, similar to the vast majority of ICO projects within the bubble-like ICO market, this project has yet to produce viable products and software. Still, Mack has endorsed Omega One’s ICO despite the fact that it does not even have a functioning prototype or codebase to show.
Alex Gordon-Brander of Omega One described the project platform as a “bridge between traditional capital markets and the crypto markets” which will provide “balance sheet intermediation and a trusted counterparty.” In essence, Omega One will operate as an efficient and trusted platform for institutional and large-scale investors seeking to invest in the cryptocurrency market. It uses a non-custodial smart contract wallet system and aggregation of liquidity across many cryptocurrency exchanges to ease the buying process for institutional investors.
The vision and platform of Omega One are interesting and unique. Such a liquidation and investment platform for institutional investors still does not exist within the cryptocurrency market. However, some of the most successful ICOs in the market including Bancor and EOS received harsh criticisms from experts for raising hundreds of millions of dollars without having built or developed a functioning code base…”
Full Story at TheMerkle