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Money Michael Clarke endorsed an Australian ICO and some of his fans are furious

23:30  10 august  2018
23:30  10 august  2018 Source:   businessinsider.com.au

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Former Australian cricket captain Michael Clarke is endorsing an initial coin offering for a new Australian cryptocurrency exchange called Global Celebrity endorsements for ICOs are nothing new. Boxer Floyd Mayweather, actor Kevin Hart, Paris Hilton, and DJ Khaled have all jumped on

Former Australian cricket captain Michael Clarke is endorsing an initial coin offering for a new Australian cryptocurrency exchange called Global Tech. Fans aren’t happy, and one famous hedge fund manager has warned him to avoid it. Initial coin offerings ( ICO ) are the new ostrich farming.

a man in a suit and tie © Supplied Initial coin offerings (ICO) are the new ostrich farming.

If your investment memory doesn't stretch back to the 1990s when people were going to make an absolute motza raising flightless African birds for meat and feathers, paying up to $40,000 an egg, then it's worth noting nearly half of ICOs sold in 2017 had already fallen over before March this year.

Crowdfunding your business using a cryptocurrency might be all the rage right now, but the corporate regulator, ASIC, raised concerns and earlier this year, introduced a range of measures to protect investors, focusing on the misleading or deceptive conduct risks. The Australian Competition and Consumer Commission also got involved and the scrutiny sent quite a few ICO plans back to the drawing board.

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Michael Clarke endorsed an Australian ICO and some of his fans are furious Business Insider Australia . Full coverage.

Former Australian cricket captain Michael Clarke is endorsing an initial coin offering for a new Australian cryptocurrency exchange called Global Tech. Fans aren’t happy, and one famous hedge fund manager has warned him to avoid it. Initial coin offerings ( ICO ) are the new ostrich farming.

Yesterday, former Australian cricket captain Michael Clarke went into bat for an upcoming ICO by Brisbane-based crypto trading exchange looking to raise up to $50 million.

“I am really excited to be involved with Global Tech. Their ambition and drive is something that I resonated with straight away and I can’t wait to learn more about blockchain technologies,” Clarke’s endorsement says.

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