Crypto

DeepBrainChain is Another ICO Running out of Money

It is not uncommon for cryptocurrency projects to run out of funding. When that happens to an ICO raising over $10 million a few years ago, eyebrows will be raised.

In the case of DeepBrainChain, it appears that the end is nigh.

DeepBrainChain is Going Under

During a recent social media discussion, the CEO of the project indicated that there are funding concerns.

This is primarily due to inappropriate time and resource allocations. 

With prices falling lower throughout 2018 and most of 2019, it is evident that the funds raised during the ICO has lost value as well.

Those $12 million are worth closing to $3 million at today’s value, if not less.

One also has to keep in mind that money has been used to fund the product and payrolls for over two years.

Related Post

Where the new money will have to come from, remains somewhat unclear.

Another DeepBrainChain token sale is completely out of the question.

Even selling a part of the native token’s supply is not an option.

The DBC tokens are worth roughly 1% of their ICO price, and there isn’t any real demand for them.

This is another example of why most of the ICOs will continue to fall in quick succession.

Raising money is one thing, but properly managing it and delivering the goods is something else entirely. 

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

Share
Published by
JP Buntinx

Recent Posts

Top Crypto Presales to Invest in 2025 – Experts Say These Coins Will Dominate!

Top Crypto Presales to Invest in 2025 – Experts Say These Coins Will Dominate! As…

26 minutes ago

TIA Price Surges 13% While BlockDAG Rolls Out 350% Bonus with LISTING1000 – What Next for IP?

TIA Price Surges 13% While BlockDAG Rolls Out 350% Bonus with LISTING1000 - What Next…

28 minutes ago

BlockDAG’s 5th AMA: Mining Hardware Nearly Complete, Beta Testing Program to Launch with Over 16,000 Miners Sold!

BlockDAG’s 5th AMA: Mining Hardware Nearly Complete, Beta Testing Program to Launch with Over 16,000…

29 minutes ago

Wintermute’s Market-Making Role and the $KAITO Airdrop Controversy

The cryptocurrency world is ever-changing, and fresh tokens regularly arrive to capture investors' and traders'…

12 hours ago

Whale’s Persistent Investment in $VIRTUAL: A Risky Gambit After $5 Million Loss

Here in the realm of cryptocurrency, large investors—affectionately dubbed "whales"—can and do exert the power…

12 hours ago

Big Profits in the World of $Sonic (formerly FTM): Traders Turn $SHADOW into Major Gains

The markets for cryptocurrency are well-known for their extreme volatility. For the past several months,…

12 hours ago