Question about ICO's

Hi guys, pretty new to crypto so bear with me if not much of what I'm saying makes sense!

Was reading about ICO's and I think I understand it (it's where an organisation essentially crowdfunds with rewards, e.g. 'If you give us $100 today, we will give you one of our coins when we open' etc etc, I think that's right?)

However then I came across an article talking about an upcoming ICO; TenX who will have 200,000 ETH to sell/distribute.

What I don't understand is, is this run by the owners of Ethereum, like where are these 200,000 ETH coming from? Are they generated by TenX? Are they already owned by TenX? Are they brand new coins? Existing coins?

So many questions, if someone could help me out and explain in layman's terms that'd be appreciated

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