An initial coin offering (ICO) is a type of fundraising mechanism used by blockchain-based companies to raise funds for their projects. During an ICO, investors purchase tokens or coins in exchange for existing cryptocurrencies or fiat currencies. These tokens are typically designed to have some utility within the project's ecosystem, such as enabling access to a product or service or serving as a means of payment. ICOs have faced regulatory scrutiny due to potential fraud and lack of investor protection.
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