US Retail Buyers Need Strict Punishments for ICO Founders

Xangle, a cryptocurrency disclosure and transparency platform revealed the outcomes of its ICO Retail Investor Sentiment and Outlook 2020 report at present. Practically one-third of the US-based retail ICO traders expressed their anger in opposition to ICO tasks as they felt crypto founders had deceived them by offering false info.

In accordance with the launched report, round 54% of the deceived traders wished legal proceedings in opposition to ICO founders. Buyers felt the crypto market wanted extra accountability and a transparent regulatory framework.

The analysis relies on 600 respondents throughout totally different age teams who invested in an preliminary coin providing between 2017 and 2020. Extra ladies (58%) participated within the survey than males. The analysis discovered that 22% of the respondents invested in an ICO throughout the growth of 2017, 35% invested in 2018, 26% in 2019, and solely 9% in 2020.

Practically half of the respondents invested lower than $1,000 in an ICO, whereas 29% invested between $1,000 and $10,000. Roughly 8% invested between $10,001 and $20,000. In accordance with the report, almost 2% of the surveyed individuals invested between $50,001 and $100,000.

Commenting on the outcomes, James Junwoo Kim, Co-founder of Xangle, stated: “The survey findings confirmed our perception that there’s numerous alternatives and want within the crypto business for higher transparency and visibility for upcoming crypto tasks, which may construct investor belief and confidence.”

ICO Market

The crypto market noticed a growth in ICOs in 2017 and early 2018, a number of tasks emerged with promising whitepapers and a workforce of advisors, however just a few of them turned out to achieve success. The report reveals round 55% of the individuals invested to see a return and most of them discovered in regards to the venture from buddies, household and colleagues. Roughly 33% felt that the venture deliberately deceived them and most of them felt {that a} lack of information saved the crypto market in the dead of night.

Regardless of all of the damaging feedback, findings point out that 56% of the traders would make one other funding in upcoming ICOs however with extra info and analysis.

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