Cambridge Analytica was about to Launch a Cryptocurrency, but Everything Went Wrong

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After Bitcheke, Swisscoin or the cryptocurrency of the Escobar family, “Diet Bitcoin”, it is difficult to be impressed. However, it just leaked that the same firm that has stolen data from about 80 million users for the Trump campaign, Cambridge Analytica, also wanted to launch its own cryptocurrency.

According to Reuters, Cambridge Analytica planned to raise money through an ICO before it became known that it leaked and misused the data of Facebook users. The firm would have been advised by a company on how to structure an ICO, and obviously was not forgotten.

Cambridge Analytica wanted to raise USD $ 30 million, to launch its cryptocurrency and although there is no clear information about its future plans, they would have admitted that they were experimenting with blockchain. This was said by a CA spokesperson at the same media :

Before the Facebook controversy, we were developing a set of technologies to help people to recover their personal data from corporate entities. We explored multiple options for people to manage and monetize their personal data, including blockchain technology.

The ICO boom was not minor during the past year, although several projects failed, also giving rise to scams. This year, according to Reuters, the projects involved with this type of collection have already obtained USD $ 3.5 billion.

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