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Initial Coin Offerings (ICOs) are the most efficient means of financing entrepreneurial initiatives in the history of capital formation. ICOs minimize transaction cost and democratize finance while dis-intermediating banks. Yet, ICOs have increasingly involved cases of abuse, lacking quality, and governance concerns, precipitating calls for increased regulation. This article provides an overview of the evolving ICO market as it exists in November 2017 including the ICO process, roadmap, market conditions, crypto economics for ICO startups, core risk factors for investors, and red flags of ICO practices that require industry or regulatory improvements.