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ICOs withdrew $17M worth of Ethereum during latest market collapse


The most recent collapse of the cryptocurrency market has had an interesting effect on blockchain token developers. In the past month, teams have withdrawn at least 170,000 ETH ($17.7 million) from their cryptocurrency coffers, marking the third biggest withdrawal period of this year. In fact, over 100,000 ($10.4 million) ETH has been transferred from Initial Coin Offering (ICO) treasuries in the last week, reports blockchain research unit Diar. January and September are the only months to see such increased access to “development funds” this year. This comes at a time when trading volumes across the cryptocurrency markets have fallen significantly,…

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