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posted by Fnord666 on Monday August 07 2017, @03:39AM   Printer-friendly
from the monkey-business dept.

ICOs [Initial Coin Offerings] are becoming so hot that one issuer has been able to sell options prior to the funding round. Monkey Capital, a decentralised hedge fund that invests in SpaceX supply contracts, hostile public company takeovers and Blockchain systems, while simultaneously speculating on large blocks of Crypto, made history Thursday by becoming the first ICO to successfully sell options.

The options, called COEVAL, trade on Waves Decentralised Exchange (DEX), and did robust business out of the gate during a discussion in which Monkey Capital's CEO talked to hundreds of investors in the company's Slack about valuation premiums.

[...] Earlier in the week, Huffington Post labelled Monkey Capital's ICO "the billion dollar baboon" with senior writer Azeem Khan reporting that "chat rooms already have the offering pegged to raise a billion dollars or more, becoming the first ever 10-digit sum raised in a crowdfunding campaign."

[...] On July 15, Monkey Capital will launch its ICO when buyers will have a chance to subscribe for Monkey (MNY). Some months ago however, the management team distributed tokens called COEVAL out to friends and family, as well as "hot girls" according to Harrison.

Source: Coinspeaker.com

Previously:

https://soylentnews.org/article.pl?sid=17/07/27/1640225

https://soylentnews.org/article.pl?sid=17/07/20/1430212

https://soylentnews.org/article.pl?sid=17/07/19/0123201


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  • (Score: 0) by Anonymous Coward on Wednesday August 09 2017, @12:58AM

    by Anonymous Coward on Wednesday August 09 2017, @12:58AM (#550861)

    Even worthless penny stocks have options. Doesn't really say anything about the value of the stock.