Transcribed from http://adamtracy.io/video/adam-tracy-initial-exchange-offerings/
“So the initial exchange offering, right? It’s new and I like it. You know, what you have is an ICO that takes place through an exchange much like an IPO. And I think that’s actually a good start, and I like it for its redundancy for couple reasons:”
“1) You know that there’s actually an active market, or will be a market for the token that you’re purchasing, right? Too often you see tokens that can’t get listed on an exchange — I think majority of them can’t get listed on exchange (which I can with by the way) and then there’s just no liquidity, and so you just can’t sell. Well if it’s already listed on an exchange, at least you know or you go into it knowing that you have the ability to have that token listed and the ability to sell. So, it’s good for that reason.”
Transcribed from http://adamtracy.io/video/adam-tracy-initial-exchange-offerings/
“2) It shows some financial wherewithal by the promoters because there is cost, obviously, to list on exchange, right, so it’s one these sort of fly-by-night operations. There’s some amount — it maybe not be a great amount, but it’s something.”
“3) It makes sure that their tokens get put in enough people’s hands, right? I think there’s a greater chance of success. There’s a greater chance that you get a robust token holder vase, which only has the tendency to create liquidity for the token, which again if you’re looking to sell or you’re looking sell down the road, you have that that option. The trick is of course unlike, you know, not unlike an ICO all the rules still apply, right, like all the securities rules, all the peril you can find yourself in by potentially doing an ICO, especially if it’s a security token offering, those still exist. Just because you’re selling through an exchange, doesn’t mean that it doesn’t count as an ICO or that Reg D of the Securities Act doesn’t apply or anything like that. And also as an exchange, for my exchange clients, you know, you have to worry about it, and this happened in the likes of like token lot and dragging chain and others, if you’re actively promoting tokens that are securities and you’re selling them and you’re taking commissions, well then you could be acting as an unlicensed broker-dealer run into peril doing that.”
Transcribed from http://adamtracy.io/video/adam-tracy-initial-exchange-offerings/
“So something definitely to watch for. Happy to, you know as always, answer any questions people have on the initial exchange offering, but visit me adamtracy.io and I’m happy to go through this, but I think it’s a positive element. And I think more ICOs should go the route through an exchange. See you later.”
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A former professional rugby player, Adam S. Tracy brings over twenty years’ experience as an attorney, consultant and dealmaker with a particular focus on cryptocurrency, digital products, payments and immersive corporate structures. As an accomplished executive and advisor to high risk merchants and stakeholders, Adam has proven himself as a results oriented, decisive leader with proven success advising early market entrants, technology adapters, as well as established participants across a wide range of verticals. Adam Tracy’s attack-first personality allows him to excel in dynamic, demanding environments including complex corporate negotiations, distressed environments and regulatory investigations.
In addition, Adam S. Tracy also has a successful track record co-founding high risk industry ventures, building & leading cross-functional teams, and spearheading diverse corporate transactions. A serial entrepreneur, Adam has successfully started and created exits across a wide swath of markets, including various mobile SaaS ventures, nutraceuticals, peer-to-peer payment systems, and several telemarketing-based ventures. Moreover, as a recognized expert in the payments field, Adam Tracy has been a blockchain and digital currency evangelist and influencer since the early days of Bitcoin.
Utilizing his proprietary “Pre-Event Driven™” strategy for decision making, Adam S. Tracy further leverages his over twenty years’ experience to create cost-effective, value-add solutions for each client. A data-driven acolyte, Adam continually refines his strategies based on field studies and data collection. Moreover, Adam Tracy further augments his range of solutions by actively networking with regulators, liquidity providers, legal and compliance experts, deal-flow brokers, investors and management of leading high risk industry ventures.
Adam S. Tracy earned his Bachelor of Science in Computer Applications and Bachelor of Science in Finance from the University of Notre Dame. He subsequently earned his Masters in Business Administration from the DePaul Kellstadt Graduate School of Business, while concurrently earning his Juris Doctorate from the DePaul College of Law. Adam lives outside Chicago with his with his wife, four dogs, and two cats.
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