Maybe it's healthy to refresh cultural memory like this. If everyone who invests in ICOs lose their money to fraud, it is unlikely to prompt a systemic crisis. A complacent population repealing the Securities Act of 1933 [1], perhaps using many of the same arguments used to defend ICOs against said Act, would.
Thats just because of overexposure. Benign routine frauds are masqueraded as international news just because ico/blockchain/bitcoin is involved in some capacity.
I guarantee you there were ten times more 30 million $ frauds over the same amount of time, buried within SEC enforcement circulars, DOJ enforcement circulars, FTC enforcement circulars, let alone amongst state agencies, let alone in other countries worldwide.
That is a value greater than 0 as long as I exist. Now multiply me by 10,000 and the answer is yes?
If there are 10x more frauds in the rest of the world, then that's not very good. The blockchain world having 9% of total major fraud is a lot given that it's not even 0.009% of total economic activity.
haha, I gave an example of numbers there's nothing quantitative to run with.
99.9999% of transactions on/involving a blockchain are not fraudulent or part of fraudulent projects.
Allure + Shenanigans => Informed Users? This might turn out as its greatest long-term effect, in a future with even greater use of cryptographic tools and tool users.