YAHOO – March 7, 2018: The son of a late member of the Wu-Tang Clan will issue his own ICO called “Dirty Coin”, to support music projects and other ventures.
The Hip Hop artist, Young Dirty Bastard, the son of late rapper and producer Ol’ Dirty Bastard of the Wu-Tang Clan, is launching his own cryptocurrency in an Initial Coin Offering (ICO) in an announcement interview with Yahoo Finance Tuesday, March 6.
According to the article, celebrities rushing to promote initial coin offerings (ICOs) has only added to the image that ICOs as high-risk, fly-by-night offerings. And the Securities Exchange Commission has warned the public multiple times about the risks of investing in an ICO, in which a company sells digital tokens for later use in an ecosystem that usually is not existing yet. But investors does not seem to care, and have largely ignored the warnings. In December, fundraising through ICOs hit an all-time high for a single month. CoinDesk now estimates the cumulative total at nearly $9 billion.