“Offshore funds from Chinese investors are targeted, especially those who have tasted the sweetness in previous lucrative ICO investment. These Chinese investors are glad to be the bottom fisher taking advantage of the current sluggish market and buying in quotas of high-quality ICO projects at low prices”, according to an insider close to the business.

“Some Chinese billionaires even straightforwardly set up offshore private company in the Cayman Islands, pouring funding into it, and have it managed by seasoned ICO investment professionals, with the aim of being the next Alibaba / Tencent (blockchain giant).”

“Every week has been seeing Chinese blockchain projects do ICO (Initial Coin Offering) roadshow here in Silicon Valley since this year,” a Silicon Valley-based venture capitalist said, “they are mainly aiming at Chinese investors’ offshore funds which are out of government reach. A plurality of Chinese VC have also participated in this ICO game.”

“Some foundations are initiated by professionals who are well acquainted with blockchain technology and source code. Superriches therefore are attracted,” this Silicon Valley-based venture capitalist disclosed.

But to his surprise, the notorious proxy mode unexpectedly comes back accompanying the offshore fundraising approach.