Fetch.AI ICO sells out in 'about 10 seconds'

Changpeng 'CZ' Zhao, CEO of Binance, announced on Twitter that Fetch.AI sold out in "about 10 seconds". Fetch.AI, a company specializing in artificial intelligence, was the second token sale this year facilitated by Binance Launchpad. Binance sold 6% of the total supply for approximately $6 million.

Last month, Binance organized a token sale for BitTorrent that sold out in less than 20 minutes. The token sale platform suffered a system issue, which delayed the sale time. CZ said that if there weren't any issues, it would have taken a "few seconds" to sell out instead of 18 minutes.

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Larry joined crypto research full time in early 2017 and has expertise in capital markets, market structure and early stage DeFi companies/protocols and token economics. He has a background in economics and finance.