{
 "@context": "https://schema.org",
 "@type": "DefinedTerm",
 "@id": "https://wulfkaal.github.io/entities/cryptocurrency-exchanges",
 "identifier": "kaal:entity:cryptocurrency-exchanges",
 "name": "Cryptocurrency exchanges",
 "termCode": "cryptocurrency-exchanges",
 "inDefinedTermSet": {
  "@id": "https://wulfkaal.github.io/entities/index.json"
 },
 "author": {
  "@type": "Person",
  "name": "Wulf A. Kaal",
  "identifier": "https://orcid.org/0000-0003-0757-275X"
 },
 "dateModified": "2026-07-29",
 "canonicalForm": "https://wulfkaal.github.io/entities/cryptocurrency-exchanges.md",
 "sha256": "9fbfac73a38470fd0bdb809a0969bb257830a07af7dd471a466f3bea3d1bed90",
 "additionalProperty": [
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   "@type": "PropertyValue",
   "name": "status",
   "value": "derived"
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   "name": "claim_count",
   "value": 2
  },
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  },
  {
   "@type": "PropertyValue",
   "name": "year_span",
   "value": [
    "2020",
    "2020"
   ]
  },
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  }
 ],
 "subjectOf": [
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/3606663-009",
   "identifier": "kaal:claim:3606663-009",
   "text": "Initial exchange offerings emerged as a market response to the near disappearance of the ICO market in January 2019, driven by the cryptocurrency exchanges that were most affected by the collapse.",
   "abstract": "Initial exchange offers (\"IEO\") 66 evolved as a response to the near disappearance of the ICO market in January 2019.",
   "citation": "Kaal, Digital Asset Market Evolution (2020). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3606663",
   "datePublished": "2020",
   "claim_type": "mechanism",
   "confidence": "argued",
   "is_failure_mode": false,
   "scope_conditions": [
    "cryptocurrency exchanges",
    "aftermath of the ICO market collapse in January 2019"
   ],
   "source_pdf_sha256": "d1d4a15a293b715bb6a5a32e689f59c3a1587915039ba9a1cf4eeb8ee2a1e57c",
   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/3606663-010",
   "identifier": "kaal:claim:3606663-010",
   "text": "The IEO reinserts an intermediary into token offerings: the exchange screens the offering and the issuer no longer interacts with investors directly, reversing the direct issuer to investor structure of the ICO.",
   "abstract": "In an IEO, the cryptocurrency exchange acts as a screening device for token offerings. In an IEO the issuer does no longer interact with investors directly.",
   "citation": "Kaal, Digital Asset Market Evolution (2020). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3606663",
   "datePublished": "2020",
   "claim_type": "design",
   "confidence": "asserted",
   "is_failure_mode": false,
   "scope_conditions": [
    "initial exchange offerings",
    "token offerings listed on a cryptocurrency exchange"
   ],
   "source_pdf_sha256": "d1d4a15a293b715bb6a5a32e689f59c3a1587915039ba9a1cf4eeb8ee2a1e57c",
   "status": "current"
  }
 ],
 "description": "2 claims in the published works of Wulf A. Kaal carry the concept tag 'cryptocurrency-exchanges'. Derived node: a roster, not an adjudicated definition."
}