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Long thread on #IEOs. Every crypto investor is chasing IEOs ($CELR, $MATIC, $BTT, $FET and soon Harmony). I worked on capital markets desks and syndicate desks at Lehman & Merrill for 2 decades. I'd like to clear up a lot of misconceptions that I've been hearing from others.
This is not advice nor even an opinion on any of the specific IEO investments. It is simply an explanation of the capital raising and syndication process based on my past experience.
Preface: Many argue (correctly) that IEOs are illegal (in the US) since the tokens are clearly securities, & unregulated exchanges are acting as broker/dealers. Thus, U.S. investors can't participate. This article does a nice job explaining B/D rules: linkedin.com/pulse/looming-…
