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RE: Daily: Chinese ICOs issue refunds, End of FUD?

in #bitcoin7 years ago

Brilliant legal short of the crypto market. I contribute equivalent of USD1,000 or CNY to an ICO in whatever crypto. Following the announcement my original my underlying crypto is now worth USD700 which is sent back to me. The ICO owners most probably made a USD300 gain on my ICO investment. Multiply that by thousands of investors and they are well in the money with a legally sanctioned refund.