By Jack Morse
Initial coin offerings are the way of the future, and oh boy is that future shady.
A new study found that the favorite fundraising mechanism of the blockchain universe is often employed by those trying to fleece the world, not improve it. And, well, no one should be too shocked — it’s not like ICOs are exactly the picture of above board.
For the blissfully unaware, ICOs provide companies with a poorly regulated way to raise large sums of money. Unlike the more traditional IPO, an ICO lets those in the cryptocurrency space sell tokens or so-called coins that will — in theory — be worth something at a future date. The reality often isn’t so pretty. …