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 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.

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

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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Former Australian captain Michael Clarke says he will consider coming out of retirement should Steve Smith be sacked. "Cameron Bancroft, this is his eighth Test match," Clarke said. “ Some of the stuff that has come out of the Australian camp, especially, has been laughable.

Former Australian cricket captain Michael Clarke has come under fire for endorsing an Australian ICO . Clarke ’s endorsement of Globach Tech wasn’t greeted with the same acclaim as his batting.

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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