Binance’s Top Man In Full Support Of ICO’s

Binance CEO Zhao Changpeng

Binance CEO Zhao Changpeng observed in a May 7 blog post the halfhearted response the ICO campaigns are getting. He expressed his full support for ICO’s saying fundraising with this model is a lot easier than with venture capital. He writes:

“Through my own experience, and watching hundreds of other projects at a close distance, I would say raising money through ICOs is about 100 times easier than through traditional VCs, if not more.”

“With the ease of raising money increased, logic says there may be 100 times more startups, well-funded startups, where ICOs are allowed.”

Currently, ICO’s are getting unpredictable treatment. For example, the South Koreans, just last week, were legalizing ICOs under the government’s supervision. At the same time, Telegram, a popular cloud-based instant messaging service has canceled the public part of their ICO after raising almost $2B from private offerings for their new cryptocurrency.

“We are still in early days of the industry. You can’t make advancements without encountering problems. Properly dealing with issues is how progress is made,”

he continued. Zhao then added:

“If we had given up e-commerce/internet because there was identity theft or credit card fraud, where would the world be today?”

Zhao Changpeng ended his piece on ICO’s with a word about VC:

“Guess what most VCs do today? They invest in ICOs now! VC groups, unlike other large slow-to-react organizations, have their nose on the money. That pretty much says it all!”

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