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Initial coin offerings turn the venture capital relationship upside down

Cash-rich startups are pushing back, with some issuers limiting the size of pre-sale deals, making VCs scramble for sought-after offers

New York

US venture capital firms lining up for a slice of the burgeoning digital currency market are grappling with a novel challenge - some of the hottest technology startups that sell the coins just do not need their money.

Only a few years ago, digital currency entrepreneurs,...

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