Wikipedia Founder: ICOs Can Be 'Absolute Scams'

Wikipedia Founder: ICOs Can Be ‘Absolute Scams’

The founder of Wikipedia had some harsh words for initial coin offerings (ICOs) in a new interview this morning. Jimmy Wales, speaking on CNBC, said that he thinks many token sales – through which cryptographic tokens are sold to fund the bootstrapping and development of a new blockchain network – are "absolute scams." "There are a lot of these initial coin offerings which are in my opinion are absolute scams and people should be very wary of things that are going on in that area," he told the network. That said, he said the underlying technology behind such offerings […]