[Space Public Offering Sparks Controversy: $2.5 Million Target Oversubscribed by 8 Times, Team Attempts to Retain Tens of Millions in Funds] BlockBeats News, January 22 — The decentralized leveraged prediction market Space has sparked market controversy in its latest round of ICO. The project initially disclosed a fundraising target of $2.5 million, but the actual fundraising amount reached as high as $20 million. The project team later responded, stating that the $2.5 million was a 'soft cap' rather than a 'hard cap,' and that the description aligns with industry norms for Launchpad platforms, thereby allowing the fundraising scale to expand in response to strong market demand. The team explained that $2.5 million would only support 'a few months of initial development' and would not be sufficient for building a multi-year leveraged prediction market infrastructure. According to the team’s disclosure, they plan to retain approximately $13 million of the oversubscribed funds under a $69 million FDV (fully diluted valuation), with the remaining funds allocated for liquidity, ecosystem development, and market-related purposes. However, this explanation has not quelled the doubts. Ethos CEO Serpin Taxt stated that the project’s actions of 'nominally raising $2.5 million, actually raising $20 million, and retaining approximately $14 million of it' constitute malicious behavior, comparing it to the previously controversial Trove project. Community discussions suggest that this incident once again exposes structural issues in some current ICOs, including information disclosure, fundraising cap design, and transparency in fund usage.