An Initial Exchange Offering (IEO) is a fundraising method used by cryptocurrency projects to raise capital. In an IEO, a project sells its tokens directly on a cryptocurrency exchange, which acts as an intermediary. This process helps ensure that the tokens are distributed to investors in a secure and regulated manner. Unlike Initial Coin Offerings (ICOs), where projects manage their own fundraising, IEOs are conducted through exchanges like Binance or Coinbase. This adds a layer of trust, as exchanges typically conduct due diligence on the projects before listing their tokens, providing investors with a sense of security.