🍾 Bittrex's CEO says Initial Exchange Offerings could be bigger than ICOs in 2017

Crypto startups are pivoting from Intitial Coin Offerings (ICOs) to Initial Exchange Offerings (IEOs), token launches backed by crypto exchnanges. Some $180 million has been raised in 23 IEOs to date, most happening in February. "It has the potential to be larger than the ICOs of 2017," said Bittrex's CEO Bill Shihara, "We are seeing significant demand both from our users and token teams." The use of exchanges as platforms to launch new tokens raises new security law questions, especially when token launches are only supported in an exchange's native currency.