Golix Token Sale Ends; Did They Manage To Meet The $32 Million Target?

Farai Mudzingwa Avatar

From almost going out of business because of some regulatory hurdles, to setting up in a number of different countries, and finally raising money through an ICO, it’s safe to say the last few months have been quite eventful for Zimbabwe’s only cryptocurrency exchange.

The Token Sale that Golix officially opened up to the public on the 1st on June ended last night. When Golix set out to go down this path they had lofty goals:

Zimbabwe’s digital currencies pioneer Golix, is raising $32 million through a Token Sale in a bid to finance the establishment of cryptocurrency infrastructure across the entire African continent.

So did they hit the mark? Well, we asked Golix if they reached their target and they are yet to respond. Once they do respond we will have a definitive position. Right now there is one pointer that could help us in figuring out whether or not Golix actually met their targets.


On the Golix website the Token Sale section has some interesting statistics;

Privately Golix sold $2 million worth of GLX and then privately they sold less than $8 million. We are not entirely sure if these figures are an accurate representation of exactly where they ended up but looking at that page it’s fair to say Golix raised more than $2 million but less than $10 million from their ICO.

Golix Token Sale page

Considering the fact that the RBZ announced their ‘crypto ban’ a day before Golix intended to cut the ribbon on their ICO, it’s hard to not to think that the decision taken by the central bank did not affect Golix’s token sale. Obviously potential buyers in Zimbabwe (which was Golix’s dominant territory at the time of the sale) may have had cold feet when it comes to put their finances in anything related to cryptocurrencies.



  1. Worried

    It’s not good to speculate especially in finance why do you not just wait for the facts

    1. Farai Mudzingwa

      Simply because the facts may actually not be forthcoming. We sent our list of questions to Golix yesterday in the morning and we also communicated to them that we would be running with this. The Token Sale ended on the 25th and we would want to deliver news whilst its still relevant.

    2. Garikai Dzoma

      You clearly don’t know what you are talking about. The entire finance platform is built on speculation. Without speculation (analysis and forecasting) there would be no financial news. Trump tweets the markets tumble is it because of trump or some forest fire people seat in chair and speculate. Traders are speculating on the stock exchange.

      In finance by the time you know the actual facts you are screwed.

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