A Chinese billionaire has ceased to invest in the ICO and blockchain startups. Why?
Source:Chinese billionaire and founder of the venture capital Fund BitFund Whether Saali ceased to invest in the blockchain startups and ICO projects. He stated in his blog platform Weibo. The message drew the attention of the employees .
The Reason for refusal from investments in digital assets and blockchain projects the billionaire has called the ban on the holding of the ICO in China. Also affected by the frequent cases of fraud and theft of investor funds during the initial placement of tokens.
theInvestors don't trust bitcoin
From this day on If Sauli will not participate in the investment in any projects related to bacchanal and cryptocurrencies. If you see that some company add my name to the list of its investors, ignore it. I have many years of thinking in order to change their occupation. But has not yet decided what I am going to do next.
If Solai is one of the largest venture investors in China. His refusal to participate in the ICO will be a serious blow to the industry as a whole and to the reputation of crypto-currencies and the initial placement of the tokens in particular, the newspaper notes. However, many industry participants believe that in fact Saali will not cease to invest in digital assets. Most likely, he will do it secretly via investment funds and venture capital firms.
China the holding of ICO at the beginning of September. The government believe that the tokens issued during the IPO, often become the instrument of fraud.
However, a week later, the national television of China has announced that the government can reconsider its position. However, this will only happen after the local financial regulators will establish a regulatory framework for cryptocurrencies, which will be distributed in ICO.
Let's hope that the decision Saola will not be the beginning of a Domino effect among investors. A mass exit of investors from the cryptocurrency market, we are sure to what.
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