Binance CEO Zhao Changpeng has been singing the praises of initial coin offerings (ICOs) as an alternative to traditional VCs, calling it ‘100 times easier’ to work with.
He said: “Through my own experience, and watching hundreds of other projects at a close distance, I would say raising money through ICOs is about 100 times easier than through taditional VCs, if not more.
“With the ease of raising money increased, logic sasy there may be 100 times more startups, well-funded startups, where ICOs are allowed.”
In the blog post, Changpeng compares the two methods of fundraising for both entrepreneurs and investors, from pitching versus writing a white paper, to investing in anonymous businesspeople versus investing in someone you’ve followed online.
“Guess what most VCs do today?” he continued. “They invest in ICOs now! VC groups, unlike other large slow-to-react organizations, have their nose on the money. That pretty much says it all!.. The faster movers will reap exponential benefits. Don’t get left behind.”