Coinfomania: Where blockchain and cryptos live.

Bittrex International Announces New IEO After Fumble With Raid Project

Following a failed attempt to host its first Initial Exchange Offering (IEO) last week, cryptocurrency exchange, Bittrex International has announced that it will conduct one on April 2.

The project to be featured will be VeriBlock, a blockchain startup working to develop the proof-of-proof protocol which it claims can add an extra layer of security to existing blockchains like Bitcoin.

Bittrex notes, however, that its CEO Bill Shihara is an advisor to VeriBlock while their company also holds an equity minority stake in the affiliate sponsoring VeriBlock. For these reasons, Bittrex will indirectly benefit from the successful completion of the IEO.

Details of VeriBlock IEO on Bittrex International

As per the announcement, the token sale will begin at 4:00 pm (UTC) on Tuesday, April 2nd and interested investors can buy VeriBlock coin (VBK) from the exchange as registered users.

Each VBK Coin will be offered at approximately $0.10 (subject to change) while users will have their orders capped at $10 as the minimum purchase and $20,000 as the maximum. Orders above that amount would have to go through the exchange’s OTC desk and will be subject to rules guiding such transactions.

Meanwhile, those who participate in the token sale will receive the purchased tokens on April 5 after the IEO ends.

If Bittrex were to successfully complete the planned VeriBlock IEO on their platform, then the exchange would officially add its name to the growing list of crypto exchanges who are helping viable projects raise funds for their product.

Coinfomania had earlier reported two successful fundraising efforts on the Binance Launchpad IEO platform completed in less than thirty seconds.

Highly Recommended — What is an IEO? The most comprehensive guide ever

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