It looks like Trump’s crypto team has come up with another way to make money. They didn’t have time to TRUMP token buyers to calculate losses when it was time for a new project. Co-founder of World Liberty Financial (WLFI) Zack Folkman has announced that he wants to revive initial coin offerings (ICOs). This topic has already been recalled by Arthur Hayes, the former head of the BitMEX cryptocurrency exchange.
«We want to make ICOs great again», — said from during a panel discussion with Tron founder Justin Sun at the Consensus Hong Kong event on February 19
Volkman criticized venture capitalists (VCs) and accused the big players of manipulating the market for their own benefit.
«They strive to build a system in which they always win, even if it harms other market participants,» he said.
According to him, this has undermined confidence in cryptocurrencies, as ICOs used to be an open tool for attracting investment, allowing everyone to participate in promising projects.
«ICOs used to be good. People could invest on equal terms, and everyone had access to the same project».
Volkman called for limiting the influence of venture capital on crypto projects, as the inaccessibility of investments to the general public contradicts the very idea of cryptocurrencies.
ICOs were very popular in 2017-2018 thanks to him that such projects as EOS (EOS), Tezos (XTZ), Filecoin (FIL), Polkadot (DOT), Ethereum (ETH), and many others appeared. At the same time, massive fraud, regulatory pressure, and high risks have led to a loss of popularity of this means of raising funds.
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