Cash is king – especially during a crypto winter.

That’s the takeaway from a report out Wednesday from the Aion Foundation, which raised $23 million worth of bitcoin and ether through a token sale in October 2017. Compiled with the help of Deloitte, though not formally audited by the Big Four accounting firm, the report details how Aion has been managing its crypto war chest.

According to Aion Foundation CEO Matt Spoke, the foundation has sold off half of the bitcoin and ether it raised for fiat. The sales were well-timed to take advantage of the gains in crypto prices through the beginning of 2018.

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