Statement of Vice chairman of NASDAQ

The vice chairman of NASDAQ has made a statement that the ICO market poses no threats to the market. He backed his statement by adding that NASDAQ is the leading platform for any company to accrue revenue. At this time, a very popular way to raise money are fundraisings through initial coin offerings. There have been worries about this but Aust, NASDAQ’s vice president, dismissed the concerns. NASDAQ has been the trusted source for companies to rely on when it comes to private and public market gains. Aust explained that due to cryptocurrencies and ICOs being in its early phases, this should not affect NASDAQ in any way. Also, the core difference between ICOs and NASDAQ is that NASDAQ is a regulated market. In the future, ICOs will be regulated as well, Aust proclaimed.

ICO fundraising has already racked up $3 billion dollars, and continues to be popular amongst companies and startups. These entities find that it is a convenient way to raise capital in cryptocurrencies (bitcoin, ether) and exchange them for their own cryptographic coins. However, many governmental bodies have warned against ICO fundraisings, in the recent months. Some countries such as South Korea and China have already banned this practice, enforcing them as illegal. They have deemed it necessary and claim that it has caused serious disruption to their economies. Market leader and billionaire, Warren Buffet, is wary on the concept of the ICO popularity. Jordan Belfort, former Wall Street fraudster, has called the ICOs a scam. On the contrary, many nations have been accepting of the ICOs. Thailand, Abu Dhabi, Russia, Australia, and other countries back the ICO concept and jurisdictions. We are keen and continuously watching the ICO market, and believe that it will be lucrative for this new industry.

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