If you thought that all those initial coin offerings (ICOs) that raised millions of dollars in cryptocurrency are busy spending that money on development in pursuit of delivering on their promises, you’d be wrong. Cryptocurrency insights firm Diar has revealed that companies which undertook an ICO before the last quarter of 2017 are sitting on huge cash reserves that could potentially fuel the startup for the next few years. The total amount of Ethereum held in treasury by blockchain startups currently amounts to 3,744,651 ETH (or roughly $733,614,577 as of September 9). For context, this accounts for 3.7 percent of…

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