Crypto Banking Startup Crumbles Post ICO Failure

List Of ICO
Jan 2, 2019 · 2 min read
Image for post
Image for post
Crypto Banking Startup Crumbles Post ICO Failure

The ambitious crypto startup, Hush, which was aiming to develop the first participative, regulated, tokenized and cryptocurrency friendly bank has crumbled after a failed ICO earlier this year.

According to LiveBitcoinNews , the crypto startup seems to have vanished after they failed to raise enough funds through ICO. Launching their ICO in early 2018, Hush was all prepared to become the first cryptocurrency compatible bank.

The project had made preparations to raise around $30 million for the ICO, directing the funds towards building the crypto bank concept, as per . The project also received a ranking of 6.7 out of 10 on the ICO ranking website.

Reports indicated that the ICO only raised $600,000, way lower than the hard cap of $30 million. The downturn in ICO participation from the bear market could be a major reason behind the ICO fundraising failure, which has resulted in a total demolition of the project.

The consultants who contributed to building the projects have not been paid. One of the consultants, Sebastien Bourguignon said, “I didn’t have any news from Eric Charpentier (founder) since June. He didn’t pay me for my advisory. I am in litigation with him.”

Furthermore, the of the company has also been taken down, along with its Medium account. The founder of the company has deleted all his tweets related to Hush, and even his LinkedIn account.

These signs indicate the failure of ICO and lack of funds to clear the payment of advisers and staff, or just a convenient exit scam?

LISTOFICO

listofico.com

List Of ICO

Written by

LISTOFICO

LISTOFICO

listofico.com is the best place to get comprehensive information on all the latest ICO listings across the globe. You can compare listings, specifications and price from a single, convenient location.

List Of ICO

Written by

LISTOFICO

LISTOFICO

listofico.com is the best place to get comprehensive information on all the latest ICO listings across the globe. You can compare listings, specifications and price from a single, convenient location.

Welcome to a place where words matter. On Medium, smart voices and original ideas take center stage - with no ads in sight. Watch

Follow all the topics you care about, and we’ll deliver the best stories for you to your homepage and inbox. Explore

Get unlimited access to the best stories on Medium — and support writers while you’re at it. Just $5/month. Upgrade

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store