Matt Levine, Columnist

ICOs, Marxism and Credit Reports

Also Venezuela, crime tips and scalability.

October 13, 2017 at 1:23 PM UTC

Matt Levine is a Bloomberg Opinion columnist. A former investment banker at Goldman Sachs, he was a mergers and acquisitions lawyer at Wachtell, Lipton, Rosen & Katz; a clerk for the U.S. Court of Appeals for the 3rd Circuit; and an editor of Dealbreaker.

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ICOs.

It's worth explaining why you would do an initial coin offering. I mean, the most common reason to do an initial coin offering is to raise a lot of money from bitcoin enthusiasts without having a working business model or complying with securities regulations, but that's not why you should do an ICO. No, the better reason to do an ICO is to fund the development of a network that will one day exist without you. Angel investor Naval Ravikant tweeted yesterday: