Cryptocurrency Exchange ‘IEO’ Draws Suspicion for Plans to Sell Tokens Ahead of Launch

Algorand, which intends to launch its product in June along with its native ERC-20 token, issued a formal warning about the plans, which Bgogo has since confirmed are genuine in a blog post.

Known as an "initial exchange offering" (IEO), the Algorand event notionally allows Bgogo traders to purchase exposure to the platform’s token, despite the fact that it does not yet exist.

Bgogo will set an arbitrary price for the tokens, essentially trading an IOU ahead of the official release.

According to Algorand, however, the exchange has not entered into any form of o
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