Taxes & Wealth Management, Vol. 11, No. 2, 2018, 6-8
The first quarter of 2018 has been marked by considerable debate about the future of cryptocurrencies, such as Bitcoin. Detractors continue to admonish against their fraudulent use and propound their demise. Yet the amount of capital raised by way of initial coin or token offerings (each, an “Offering”) in the first quarter of 2018 stands at a staggering USD$6.3 billion; well in excess of the total proceeds derived from 41% more Offerings in 2017. These figures suggest that Offerings have gained considerable traction as a viable financing alternative for blockchain businesses despite regulatory and market uncertainty.