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Startups Are Raising Billions Using Initial Coin Offerings
ICOs generated more money in 2017 than the previous three years combined
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Startups are increasingly raising capital through initial coin offerings, a controversial technique that has made it easier for promising companies and scammers alike to pull in money. ICO funding surged to $6.8 billion in 2017, from $151 million in 2014, 2015 and 2016 combined, according to research firm Smith + Crown. The growth comes even as ICOs attract the scrutiny of governments, including China and South Korea.