Dario
Sun Jul 21 2024
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6 answers
1334
Who receives the money from ICO?
In the realm of cryptocurrency and finance, the question of "Who receives the money from an Initial Coin Offering (ICO)?" often arises. To understand this, let's delve into the core concept of an ICO. During an ICO, a new project or venture releases digital tokens, usually on a blockchain, in exchange for cryptocurrencies like Bitcoin or Ethereum. These tokens can represent various things, such as access to a platform's services, voting rights, or even ownership in the company. Now, regarding who receives the funds from these transactions, typically, the founding team or development group behind the ICO receives the money raised. This capital is then used to fund the project's development, marketing, operations, and any other associated expenses. So, in summary, the money from an ICO goes directly to the creators and backers of the new cryptocurrency or blockchain-based project.
