Andy Singleton, the founder of securities exchanges Aboveboard, has published an article asserting that the security token offering (STO) market is “lifeless.” While Singleton acknowledges the efficiency savings facilitated by the introduction of distributed ledger technology to the securities industry, he argues that current offerings are plagued by poor liquidity and inadequate disclosure,. resulting in very little demand from investors.
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‘Nobody Is Buying’
In an article titled “The real STO market outlook: near death,” Singleton states that despite the “squad of zombie startups” that are “announcing infrastructure and posting deals for sales … nobody is buying.”
Singleton asserts that the security token offerings conducted thus far…