The SEC has charged two initial coin offerings with defrauding investors
Well it was about the damn time! A lot of ICOs are borderline  (or just straight) scams. There have been even cases where the ICO funds have been &quot;stolen&quot; but rumours say the founders just took the money and ran.<p>A lot of the so called &quot;products&quot; and &quot;businesses&quot; pitched by these ICO companies are just well known already working models somehow <i>forced</i> into the blockchain with the only reason being the ability to do an ICO (and generate an absurd amount of money for the founders).<p>Another common feature of ICOs: there&#x27;s never any equity on the table. The founders are gonna cash in on the ICO and then later do an exit (sell the company, IPO, whatever). ICO &quot;investors&quot; are not gonna get much for their money here.<p>At least during the dotcom bubble some companies made it and the investors then got real equity for their money.