According to the SEC filing of February, 30th alt-right-leaning Gab intends to raise $10 mln in its ICO. The funding is going to be under Reg A+, that allows non-accredited U.S. investors to buy equity in startups.
As Gab CEO clarified, the company already created 2 mln tokens on Ethereum and is willing to sell it as Class B shares in the company, $5 a piece upon release. Because of the company’s ideology that many ICOs are “fraudulently raising funds” by bypassing regulations and standards, it decided to go fully in fiat.
The media brand also is planning to launch its own peer-to-peer social networking infrastructure Exodus. The company says it would allow to “offload the risks of routing data”. The architecture would rely on an existing distributed data protocol Dat and a content addressing system IPFS. It also considers such platforms as EOS and Blockstack.
The reactions on Twitter are all but welcoming:
@bitninja61o8 said «Lol Alt Right lol get real losers. The day I listen to these people for Credible Crypto news is the day I have lost my mind. Lol».
@EduEngineer said «Are there even enough alt-right to devote an online t-shirt shop to? C'mon, it's the crypto world. We can be the ones to not make every god damn thing political».
@ali said «They’re not alt-right. And even if they were, the promise of $crypto belongs to all. Stop ruining it with shoddy journalism».