Amid Crypto Selloff, $2 Billion Token Project Raises Eyebrows

By Anonymous

Dfinity’s seed-stage software project commands a lofty price tag even as cryptocurrency market suffers downturn

Bitcoin prices may be down 50% for the year, but that isn’t keeping some cryptocurrencies from commanding lofty valuations even before they’ve launched.

Dfinity Foundation, for example, a nonprofit that aims to compete with Ethereum, said it completed a token sale that values the crypto network at just under $2 billion. Dfinity raised $102 million in the latest sale, having collected a total of $195 million to date.

The...