One of the Biggest ICOs Yet Crashes Before It Even Launched
- Tezos was once world’s largest ICO after raising $232 million
- December futures on Tezos tokens drop by 58% on Bitmex
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Tezos, the startup which raised $232 million in a July initial coin offering, plunged on derivative exchanges after revealing a management spat and little progress in developing its product.
Derivatives on Tezos tokens fell as much as 31 percent, according to exchange HitBTC. On BitMEX, December futures on the tokens plunged 58 percent as traders unwound bets the project would be launched before the end of the year. The actual tokens have yet to be created.