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Initial Coin Offerings : Financing Growth with Cryptocurrency Token Sales

Howell, Sabrina T. - 2019

public oﬀerings, venture capital, and pre-sale crowdfunding. In a sample of more than 1,500 ICOs that collectively raise $12 …

Persistent link: https://www.econbiz.de/10012898977

Revisiting blockchain token sales : how crypto companies raise(D) money

Nagel, Esther Marie; Kranz, Johann Joachim - In: Blockchains and the Token Economy : Theory and Practice, (pp. 261-285). 2022

Persistent link: https://www.econbiz.de/10013362430

The crowdfunding of altruism

Faust, Luisa; Kolbe, Maura; Mansouri, Sasan; Momtaz, Paul P. - In: Journal of risk and financial management : JRFM 15 (2022) 3, pp. 1-29

? Specifically, we examine the effects of altruism on crowdfunding outcomes in Initial Coin Offerings (ICOs). The main result …

Persistent link: https://www.econbiz.de/10013165089

Initial Coin Offerings (ICOs) : Economics and Regulation

Klöhn, Lars - 2019

Initial Coin Offerings (or Token Sales) are currently the “hottest game in town” in capital markets law. The discussion revolves around two core questions: Do token sales fall within the scope of existing EU capital markets legislation and do they warrant specific regulation? We will try to...

Persistent link: https://www.econbiz.de/10012897226

Initial Coin Offerings and EU Prospectus Regulation

Maume, Philipp - 2019

There is a growing consensus among regulators and commentators that some cryptocurrencies (so-called ‘investment tokens' or ‘security tokens') are securities, provided that they grant their owner rights that are comparable to those of an investor. As a consequence, EU initial disclosure...

Persistent link: https://www.econbiz.de/10012894726

Initial Coin Offerings

Momtaz, Paul P. - 2020

This paper examines the market for initial coin offerings (ICOs). ICOs are smart contracts based on blockchain …

Persistent link: https://www.econbiz.de/10012852445

Investor Sentiment and Initial Coin Offerings

Drobetz, Wolfgang - 2019

We examine to what extent the market for initial coin offerings (ICOs) is driven by investor sentiment. Our results based on a comprehensive set of sentiment and coin price data suggest that the ICO market is driven by crypto-related sentiment, but is almost unrelated to general capital market...

Persistent link: https://www.econbiz.de/10012897873

The financial and non-financial performance of token-based crowdfunding : certification arbitrage, investor choice, and the optimal time of ICOs

Dombrowski, Niclas; Drobetz, Wolfgang; Hornuf, Lars; … - 2023

What role does the selection of an investor and the timing of financing play in initial coin offerings (ICOs)? We investigate the operating and financial performance of ventures conducting ICOs with different types of investors at different points in the ventures' life cycle. We find that,...

Persistent link: https://www.econbiz.de/10014252496

Initial coin offerings, information disclosure, and fraud

Hornuf, Lars; Kück, Theresa; Schwienbacher, Armin - 2019 - This Version: November 19, 2019

We study the extent of fraud in initial coin offerings (ICOs), and whether information disclosure prior to the issuance predicts fraud. We document different types of fraud, and that fraudulent ICOs are on average much larger than the sample average. Issuers that disclose their code on GitHub...

Persistent link: https://www.econbiz.de/10012129781

Initial Coin Offering (ICO) Risk, Value and Cost in Blockchain Trustless Crypto Markets

Venegas, Percy - 2019

Blockchains, trust is embedded and no explicit chain of trust is necessary. Smart contracts running on a Blockchain allow to … from being the largest crowdfunding event in history to get about a third of its assets compromised due to an attack from a … shareholder. The dual nature of money shared by a Blockchain calls for a novel approach: a DAO is a listed entity by default, and …

Persistent link: https://www.econbiz.de/10012901443