ICO News: Eidoo Ei-Doesn’t Take Criticism Lying Down

Swiss-based blockchain startup Eidoo has taken out a full-page ad in the WSJ striking back at JPMorgan's Jamie Dimon, who criticized bitcoin and upcoming ICOs.

ICO News: Eidoo Ei-Doesn’t Take Criticism Lying Down

In recent weeks JPMorgan chief Jamie Dimon took a swipe at bitcoin and ICOs, calling the cryptocurrency a fraud and suggesting that upcoming ICOs were worthless. Dimon also threatened employees of the firm that they would be fired for trading bitcoin. In a counterattack Swiss-based blockchain startup Eidoo, whose Eidoo ICO is unfolding now, struck back, taking out a full-page ad in The Wall Street Journal targeting JPMorgan’s Dimon.

The ad, which can be viewed in its entirety on Eidoo’s Twitter page, is in direct response to Dimon’s threat to his employees. The ad states: “Maybe Jamie Will Fire You. But, you’ll be free to trade in the crypto-world,” adding in a tweet: “Let Jamie know that the world is changing.” In a show of support for upcoming ICOs, social media cheered the company on.

In the Twitter-verse, users were quick to respond, engaging with the company about everything from open-source software for the Eidoo wallet to applauding the ad. The company had good reason to fire back, given the veteran blockchain talent on the management team and the prospects for the Eidoo ICO. Eidoo is behind a digital wallet that holds Ethereum.

Inside the Eidoo ICO

The Eidoo ICO, which is currently unfolding, has already raised EUR 20 million (ETH 80,453) reportedly in hours across more than 10 million of the company’s EDO tokens. Those tokens can be used inside the Eidoo ecosystem, which in addition to the digital wallet extends to a decentralized blockchain-based marketplace and tools that support the use of cyrptocurencies.

The ecosystem includes a hybrid exchange of centralized and decentralized features for converting cyrptocurrencies inside the app. Originally the exchange supports Ethereum but it will eventually be expanded to accept other digital tokens including bitcoin in addition to fiat currencies. The app also boasts an ICO engine that gives investors the ability to participate in deals straight from the app while directing payments to a secure digital wallet.

The price attached to the full-page ad taken out by Eidoo was nearly USD 250,000, based on sample rates. You’ve got to wonder if they accept Ethereum. 

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