ICO is short for initial coin offering. It is a process to raise money for a crypto currency venture. The equivalent in the stock world is a primary offering of shares.
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I tried to look up what a primary offering of shares was, but I couldn't really understand it. But for this does it mean the money is raised to then invest in a new cryptocurrency?
If you are familiar with “new issue” that is the same as “primary offering”. You are right that here it means money is raised for investing in (“starting”) a new crypto currency.
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