f funding. ICO investors purchase an ownership percentage of a future money supply or functionality. # While many ICOs support legitimate use cases, Autonomous Research asserts, “unfortunately, many ICOs are fraudulent. ””! " Rather than raising fiat currency, ICOs primarily raise capital in the form of Bitcoin and

funding. ICO investors purchase an ownership percentage of a future money supply or functionality. • While many ICOs support legitimate use cases, Autonomous Research asserts, "unfortunately, many ICOs are fraudulent."' • Rather than raising fiat currency, ICOs primarily raise capital in the form of Bitcoin and Et

o do that. And I don't think that it will fundamentally change the private equity model. Operator Our next question comes from Patrick Davitt with Autonomous Research. Patrick Devitt Just one quick follow-up on the creation multiple conversation. Would your experience -- given your strength, would you expect the