Today, major crypto exchange Binance tested its new initial exchange offering (IEO) format with the sale of AC Milan Fan Token (ACM) built on the Chiliz blockchain.
The sale, hard-capped at USD 1 million worth of BNB coins, was oversubscribed by 1,484x, the exchange said. 27,414 participants committed BNB 5.7m (USD 1.57bn) in order to obtain 205,128 ACM at USD 4.875 price