Breaking: Bittrex Int’l Scraps ‘IEO’ amid Controversy over Crypto Startup RAID
European cryptocurrency exchange Bittrex International has scrapped its first “initial exchange offering” (IEO), just hours before the RAID crypto token sale was scheduled to commence.
RAID Crypto Token Sale Called off Hours Before Launch
The cryptocurrency exchange announced the halt to the sale on Twitter, explaining that it made the decision to boot RAID from its platform after the project made “significant, last minute changes.”
Trust and integrity are the most valuable assets of Bittrex International. As a result of significant, last-minute changes with RAID, we have cancelled the IEO offering of the RAID token. We apologize for the inconvenience. We will provide a more complete statement shortly.
— Bittrex International (@BittrexIntl) March 14, 2019
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RAID had become embroiled in controversy in the hours leading up to the March 15 token sale.
RAID marketed itself as a way to “give data ownership back to users using blockchain technology,” specifically through a “decentralized game data ecosystem where data can be freely exchanged amongst users.”
“[B]y leveraging the game data ecosystem, we are planning to promote and develop new businesses such as advanced game marketing, game data analysis and game distribution platform.”
RAID touted its relationship with “core partner” OP.GG, an e-gaming data analytics company that boasts nearly 500 million monthly page views, according to its website.
