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One of the Most High-Profile Initial Coin Offerings Has Crashed 50%

  • Bancor has lost more than half of value since June offering
  • Developers question usefulness of market-making token
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Bitcoin: What’s Coming in the Year Ahead

Bancor, one of the most successful initial coin offerings in the short history of digital tokens, is proving to be a dud for investors.

After raising $153 million in a matter of hours in June, the Tel Aviv, Israel-based startup -- whose market maker-like application aims to facilitate trading in other digital coins -- has seen the price of its token decline 56 percent, one of the worst performances among the 10 largest crowd-funding sales.