I predict that this will be a new craze for 2018. Small companies will start
buying unprofitable blockchain companies to pump their own stock prices. This is a good example of Wall Street scammers working together with ICO and blockchain scammers. The worst of both worlds hehehe.
In any case, has anyone heard of Ziddu? Their site,
http://www.ziddu.com/, mentions that
Ziddu Warehouse Coin is powered by Ethereum ERC20 token standard, but it is not listed in Coinmarketcap or any altcoin exchange.
Did they create this website and ERC20 token to make it appear it is a real blockchain
company?
Shares of little-known financial technology company Longfin surged 1,342 percent in two days to a market value of $3.1 billion after buying a cryptocurrency company with no revenue.
To many, it was a textbook case of the mania surrounding digital currencies these days. Amazingly, the CEO doesn't disagree.
The gains followed Friday's news the company was buying Ziddu.com, which says it's a microlending company using the same blockchain technology as bitcoin. Ziddu's unsecured website shows the company has a digital coin trading at 19 cents.
Longfin agreed to buy Ziddu from a private Singapore company called Meridian Enterprises in exchange for 2.5 million shares of the company. Adding confusion and volatility for investors, the filing for the deal showed Meridian is 95-percent-owned by Longfin CEO Meenavalli.read the article in full https://www.cnbc.com/2017/12/18/ceo-of-surging-cryptocurrency-stock-this-market-cap-is-not-justified.html
