Crowdfunding For CryptoCurrency Index

Wondering if the SEC is watching this?

Apparently running out of Czechia, ICONOMI, a fund management platform for the decentralized economy has raised $ 10.4 million in Bitcoin, Ether, Lisk, EUR, USD and other currencies for operational capital and equity through an Initial Coin Offering (ICO) that ended yesterday from 3,451 investors.

ICONOMI will issue 100 milion ICONOMI tokens (ICN) 10 days after the crowdfunding campaign successfully ends.

The company plans to run a Cryptocurrency Index that will “measure the performance of cryptocurrencies that meet the ICONOMI eligibility criteria. Index constituents and their corresponding weights are updated on a monthly basis or more frequently due to the fast changing environment of the cryptocurrency market.

“ICONOMI token owners will earn weekly profit dividends in the form of ETH when the funds launch. Dividends will come from trading fees under ICONOMI management and from fees of investment funds of independent traders, which will list on the ICONOMI platform in accordance with the fee split schedule.”

https://www.cryptocoinsnews.com/ethereum-based-investment-fund-iconomi-raises-over-8-9-million-in-ico/
https://ico.iconomi.net/

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About JeffKoeppel

I am a corporate/securities attorney in the Washington, DC area. Prior to joining the firm, I was a Senior Attorney Advisor in the Division of Corporation Finance at the U.S. Securities and Exchange Commission. I am a member of the Bars of the States of Maryland, New York and the District of Columbia. You can also follow this blog on LinkedIn at: http://www.linkedin.com/pub/jeffrey-a-koeppel/0/63/5a9
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