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> 2. Under the table deals mean that privately (kept a secret) some well known VCs have exited coins long before the ICO My understanding was that until the IC

> 2. Under the table deals mean that privately (kept a secret) some well known VCs have exited coins long before the ICO My understanding was that until the ICO, the coin isn't available for purchase by the public. Who is providing the exit liquidity in a pre-ICO exit?

ralph84 4y ago
Presumably the SBFs and CZs of the world, who then use the pre-ICO shitcoins as reserves on their balance sheet.
deleted 4y ago
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clpm4j 4y ago
Less-sophisticated "professional investors" I would imagine.
moritonal 4y ago
Imagine a friend tells you they know a way to get in on a coin pre-ICO! You've heard how valuable that is so you're interested, but apparently you have to have a large amount of capital, so you get some friends to join you. You ain't going to miss out on the golden goose!
yao420 4y ago
So I think it’s a little more complex. Let’s look at one of AZ16’s blockchains projects. Ava Labs is the company, Avalanche is the blockchain, Avax is the token. https://www.crunchbase.com/organization/ava-labs/ https://www.crunchbase.com/organization/ava-labs/ They launched a series A in 2019. The Series A was $6million and was joined by Andreessen Horowitz (a16z), Initialized Capital and Polychain Capital, in addition to angel investments from Balaji Srinivasan and Naval Ravikant. Two private token sale in June and July 2020 for $12m and $42m. Are the VC’s and insiders getting a cut? Then finally a public ICO in sept 2020 to raise $240 million. They also had a funding round of $350million in April 22. Ample time for early VC’s to make money. It’s valuation is $5billion. That’s the same as Coinbase which is a legit org with billions in revenue.
- pcthrowaway 4y ago
  Ava Labs as a company has.. problems. But Avalanche is an actual product working which publishes research and has developed an efficient proof of stake blockchain ecosystem including an EVM-based network. It's no less of a "legit org" than Uber. Comparing with Uber rather than Coinbase because they've been exposed to have engaged in similar anti-competitive practices which many deem unethical. There's a good chance Coinbase has too, they just haven't had a scandal blow open because of it.

ralph84 4y ago

Presumably the SBFs and CZs of the world, who then use the pre-ICO shitcoins as reserves on their balance sheet.

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clpm4j 4y ago

Less-sophisticated "professional investors" I would imagine.

moritonal 4y ago

Imagine a friend tells you they know a way to get in on a coin pre-ICO! You've heard how valuable that is so you're interested, but apparently you have to have a large amount of capital, so you get some friends to join you. You ain't going to miss out on the golden goose!

yao420 4y ago

So I think it’s a little more complex. Let’s look at one of AZ16’s blockchains projects. Ava Labs is the company, Avalanche is the blockchain, Avax is the token. https://www.crunchbase.com/organization/ava-labs/ https://www.crunchbase.com/organization/ava-labs/ They launched a series A in 2019. The Series A was $6million and was joined by Andreessen Horowitz (a16z), Initialized Capital and Polychain Capital, in addition to angel investments from Balaji Srinivasan and Naval Ravikant. Two private token sale in June and July 2020 for $12m and $42m. Are the VC’s and insiders getting a cut? Then finally a public ICO in sept 2020 to raise $240 million. They also had a funding round of $350million in April 22. Ample time for early VC’s to make money. It’s valuation is $5billion. That’s the same as Coinbase which is a legit org with billions in revenue.

pcthrowaway 4y ago
Ava Labs as a company has.. problems. But Avalanche is an actual product working which publishes research and has developed an efficient proof of stake blockchain ecosystem including an EVM-based network. It's no less of a "legit org" than Uber. Comparing with Uber rather than Coinbase because they've been exposed to have engaged in similar anti-competitive practices which many deem unethical. There's a good chance Coinbase has too, they just haven't had a scandal blow open because of it.