# kaal:claim:3117224-015

**Claim.** Switzerland ranks only fourth in the number of ICOs launched yet first in total funds raised, so the average Swiss ICO project raises a greater than average amount of funds.

**Type.** empirical  **Support.** evidenced

**Holds when.**

- 2017 data
- top 25 ICO countries

**Source quote.**

> Switzerland is the country with the 4th most ICO's launched but the greatest amount of funds raised in total. Accordingly, the average project in Switzerland is raising a greater than average amount of funds.

**From.** Wulf A. Kaal, *Initial Coin Offerings The Top 25 Jurisdictions and Their Comparative Regulatory Responses* (2018), III. Top 25 ICO Countries, page 7

**Cite as.** Wulf A. Kaal, Initial Coin Offerings The Top 25 Jurisdictions and Their Comparative Regulatory Responses (2018). SSRN: https://ssrn.com/abstract=3117224

**Verify.** sha256 of source PDF `83e9ccb9219a217d9fcfc5c098b897229ee7cf85623bee3ae22d2e986548466b` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202018%20-%20Initial%20Coin%20Offerings%20The%20Top%2025%20Jurisdictions%20and%20Their%20Comparative%20Regulatory%20Responses.pdf

**Topics.** securities-law, law-and-legal-systems, economics

**Keywords.** switzerland, funds-raised, icos-by-jurisdiction, market-concentration

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