The Wall Street Journal reviewed documents for 1,450 digital coin offerings and found a litany of problems; they found 271 with red flags from plagiarized investor documents to made up executive teams; investors poured over a billion into these red flag offerings and thus far have lost more than $270mn; the WSJ has also seen regulatory enforcement actions and lawsuits from other offerings who promised investor returns and never actually had any employees; while the potential of blockchain technology can help to transform financial services, there are those who are looking to capitalize and exploit the exuberance seen in the market today. Source.
Todd is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists. He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences. He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.