Ethereum conducted its Initial Coin Offering (ICO) raising over $18 million

Description

Ethereum held its Initial Coin Offering (ICO) from July 22 to September 2, 2014, selling ETH at a starting rate of 2,000 ETH per BTC (linearly declining to 1,337 ETH per BTC after 14 days). The crowdsale raised over $18 million worth of ETH in exchange for Bitcoin, funding Ethereum’s early development.

Event date

July 22, 2014

Quotes that support claims

The price of ether is initially set to a discounted price of 2000 ETH per BTC, and will stay this way for 14 days before linearly declining to a final rate of 1337 ETH per BTC. The sale will last 42 days, concluding at 23:59 Zug time September 2.

The project raised capital via an initial coin offering (ICO) later the same year, selling millions of dollars worth of ETH in exchange for funds to use for the development of the project. Between July 22 and Sept. 2, 2014, the asset sale sold over $18 million worth of ETH, paid for in Bitcoin.

Between July 22 and Sept. 2, 2014, the ICO saw investors snap up more than $18 million worth of ETH, which they paid for with BTC.

Tags

Week 30 of 2014