A new record-breaking ICO has raised hundreds of millions

Filecoin storage network Filecoin has officially completed its ICO (Initial Coin Offering).
The company managed to raise a total of $ 257 million in 1 month, making its ICO the most revamped in the short history of crypto currencies.

The Filecoin procedure started more than well on August 10 this year.
Then, within a few minutes, the company generates millions through a public offering of the SAFT (Simple Agreements for Future Tokens), the crypto that will circulate through the Filecoin network as soon as it is officially activated.

The ICO was closed with a total of $ 205.8 million, adding to $ 52 million in pre-bidding for the new digital asset, with major investors being Sequoia Capital, Andreessen Horowitz, and Union Square Ventures.
Thus, the total investment, which collected $ 257 million of Filecoin, outpaced the record-breaking ICO, the unknown company of Tezos, which at the height of summer managed to raise 232 million.

Filecoin offers a service for decentralized storage of users' surplus power, which can be leased out in the form of a new crypto currency created by the company.

July is one of the strongest for ICO procedures, with public offerings of digital assets over $ 500 million, according to CoinDesk.
In the second quarter of this year, ICO's formed a total of $ 797 million, according to State of Blockchain.
All of this is happening against the background of a ban on raising funds this way in China - something that has led to a nearly 20% drop in the cost of a Bitcoin that slowly but surely looks back on the path of growth.
The total amount raised worldwide through ICO's offerings since this model has reached nearly $ 1.8 billion.

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image source - pixabay.com and coindesk