HUTN, EF Hutton’s Parent, to Issue Cryptocurrencies that Generate $60 Million in Aggregate
HUTN Targets $60 Mil by Issuing Cryptocurrencies
The parent company of EF Hutton, and other subsidiaries, HUTN, Inc. has announced that it is set to generate $60 million in aggregate issuing cryptocurrency.
EF Hutton Inc. and its affiliates, expect to issue multiple instruments, coins, and tokens. This autumn, EF Hutton will be publishing white papers that describe the use case for each instrument. EF Hutton expects the issuances to generate proceeds of at least $60 million in non-dilutive capital.
EF Hutton has special insight and experience in the cryptocurrency market. The firm publishes research that focuses on digital assets, including cryptocurrencies. The research is available to subscribers online at www.efhutton.com/crypto-research. And, its affiliate, Megga, has developed the first social network that allows users to mine virtual currency by using its social apps.
EF Hutton’s CEO is a featured speaker at Block World, the largest blockchain conference in the world, located in San Jose, CA. He is speaking at 9:30 am on Friday, Sept. 14.
EF Hutton has engaged an advisor that has assisted other companies who collectively have raised over $290 million in initial coin offerings (“ICOs”). Proceeds will be used to fund marketing, technology and to redeem debt and for general corporate expenses. The first offering is expected to close by January 2019.
Over $13 billion was raised through initial coin offerings (ICOs) globally in the first half of 2018, according to Pricewaterhouse, with the largest amount raised equal to $4 billion and an average raise amount of $25.5 million. The capital raised in ICOs in the first half was more than 40% of the entire amount raised by companies in traditional common stock IPOs and more than 30% of the capital raised from venture capital, according to Forbes Magazine.
According to HUTN CEO Christopher Daniels,
“As a FinTech company, HUTN knows the ICO market and has prepared for these ICOs for many months. We know ICOs succeed when they present powerful use cases that improve their holder's utility with the peer-to-peer functionality of blockchain’s technology. Consequently, we are confident that ICO buyers will eagerly seek to hold the coins and tokens we are issuing. On a related note, we are confident HUTN shareholder will appreciate the fact that our ICOs will not be dilutive.”