Binance's New ICO Platform Ready for Takeoff

Ai are two of the ICOs slated to be offered in 2019.

Launchpad is Binance's attempt to legitimize the cryptocurrency-based ICO method, which has had a checkered history since it rose to prominence in 2017.

According to Binance's Jan. 3rd announcement, companies that are offering ICOs on Launchpad undergo a selection process to ensure that they are compliant with applicable laws, have a legitimate business plan, and will be beneficial to the cryptocurrency ecosystem.

TRON itself raised $70 million in its own ICO in the summer of 2017.

The same day as the BitTorrent ICO was announced, Variety reported that the CEO of BitTorrent, Rogelio Choy, had left the company.

Ai ICOs will begin, with the Launchpad website only saying they are "Coming soon."

In making its announcement, Binance appears to be anticipating that ICOs will reverse the trend that began in the second half of 2018, which saw a rapidly declining pace of funding.

According to a report entitled The State of the Token Market, released by venture capital firm Fabric Ventures last October, the amount of funds raised by ICOs fell dramatically as 2018 progressed.

June through September saw $1.6 billion raised via ICOs, compared to nearly $10.6 billion in the first five months of the year.

With one of the world's largest cryptocurrency exchanges legitimizing ICOs, the practice could experience a resurgence.