Cambridge Analytica sought to create its own cryptocurrency, because of course it did

Before coming under scrutiny for how it obtained Facebook user data on 87 million people, the voter-profiling company Cambridge Analytica had plans to create its own cryptocurrency, according to the New York Times.

Shady connections: Besides planning its own initial coin offering (ICO), the company also helped promote others, including one associated with a notorious gangster in Macau. (What the hell is an ICO? ← Here’s a primer.)

A fast-evolving market: Had it come to fruition, Cambridge Analytica’s token likely wouldn’t have escaped scrutiny itself, though. Digital token sales have gone on for years without much oversight, but in 2017 the market exploded, drawing the attention of policymakers, who are now scrambling to figure out how to regulate it.